Overview
What is Sterling Senior Housing?
Sterling Senior Housing is a nonprofit organization, established in 2003 under the laws of Washington, with a mission to provide affordable housing for families, seniors, and individuals with special needs who struggle to secure quality and safe housing due to limited economic resources. Based in Bellingham, Washington, the organization manages 21 rental units, operating under the name Sterling Senior Apartments. Their activities are centered around developing, financing, and operating affordable housing projects, contributing to the community by providing much-needed housing solutions.
Official website here: www.mercyhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star rating)
Sterling Senior Housing has received a Three-Star rating from Charity Navigator, reflecting a solid score of 77%. This rating is derived entirely from the organization’s Accountability & Finance score, which indicates a strong commitment to financial management and transparency. Key aspects of accountability, such as the absence of material diversion of assets and the presence of essential policies like conflict of interest and whistleblower protections, have contributed positively to its score.
In the most recent fiscal year (FY2022), Sterling Senior Housing demonstrated commendable financial health, evidenced by a low liabilities to assets ratio of 8.91% and a high program expense ratio of 95.95%. These metrics suggest that the majority of its expenditures are directed towards fulfilling its mission rather than administrative costs, which is a positive sign for potential donors and beneficiaries alike.
While the overall score is strong, it is essential for stakeholders to consider that the rating is based solely on financial accountability, and further information regarding program effectiveness or impact is not provided. This limited scope may imply that while the organization is financially sound, a deeper evaluation of its programs and outcomes would be beneficial for a comprehensive understanding of its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Sterling Senior Housing legitimate?
Sterling Senior Housing is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sterling Senior Housing submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $34,922
For more financial information, click here
Official website here: www.mercyhousing.org
What is the mission statement of Sterling Senior Housing?
Sterling Senior Housing is committed to developing, financing, and operating affordable housing for families, seniors, and individuals with special needs who struggle to access quality and safe housing opportunities due to economic constraints. The organization's mission is to create program-enriched, affordable housing units that cater to the needs of these underserved groups. By doing so, Sterling Senior Housing aims to bridge the gap in housing opportunities for those who lack the necessary financial resources.
Official website here: www.mercyhousing.org
Who is the CEO of Sterling Senior Housing?
Joseph Thompson is the President/Director of Sterling Senior Housing.
Official website here: www.mercyhousing.org
What is the revenue of Sterling Senior Housing?
Sterling Senior Housing's revenue in 2022 was $190,443.
Official website here: www.mercyhousing.org
Who are the executives of Sterling Senior Housing and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $163,550
- Other: $10,385
- Compensation: $0
- Related: $215,449
- Other: $8,873
- Compensation: $0
- Related: $226,767
- Other: $50,526
- Compensation: $0
- Related: $93,499
- Other: $412
- Compensation: $0
- Related: $189,811
- Other: $4,240
Official website here: www.mercyhousing.org
Where can I find the form 990 for Sterling Senior Housing?
Sterling Senior Housing's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mercyhousing.org
Learn more at the official website: www.mercyhousing.org
Mission Statement of Sterling Senior Housing
Sterling Senior Housing, a non-profit corporation established in 2003, is dedicated to a noble mission. Their objective is to develop, finance, and operate affordable housing for families, seniors, and individuals with special needs who struggle to secure quality, safe housing opportunities due to their limited economic resources. This mission is further enriched by their commitment to provide program-oriented housing, ensuring the residents have access to a supportive environment that caters to their unique needs. By undertaking this mission, Sterling Senior Housing strives to contribute positively to the lives of those who require affordable housing, thereby enhancing their overall quality of life.
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Impact
October, 2024
Sterling Senior Housing has made a significant impact by developing, financing, and operating affordable housing for families, seniors, and individuals with special needs. By focusing on populations who struggle to secure quality, safe housing due to economic constraints, Sterling Senior Housing addresses a critical gap in the housing market, particularly in Bellingham, Washington, where it operates the Sterling Senior Apartments.
The organization plays a vital role in enhancing community well-being by ensuring that those who are most vulnerable have access to suitable living environments. The 21 rental units it manages not only provide shelter but also contribute to a supportive community atmosphere. This emphasis on creating program-enriched housing allows residents to access additional resources and services that positively impact their quality of life.
Overall, Sterling Senior Housing fosters stability and security for people who might otherwise be marginalized in the housing market, ultimately working to improve the social fabric of the community as a whole.
This information is meant to be a general summary of Sterling Senior Housing. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $4
- Program Service Revenue: $75,310
- Gross Receipts: $190,443
Assets and Liabilities:
- Total Assets: $1,257,907
- Total Liabilities: $112,170
- Net Assets: $1,145,737
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET RENTAL REVENUE
Revenue
$73,289
ANCILLARY SERVICES
Revenue
$2,021
Organization Details
Founding Year
2002
Phone
(303) 830-3300Principal Officer
Joseph Thompson
Main Address
1600 BROADWAY SUITE 2000, DENVER, CO, 802025704
Website
www.mercyhousing.orgNTEE Category
Code: L22 - Housing
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