Overview
What is Victory Heights Inc?
Victory Heights Inc is a nonprofit organization committed to providing affordable housing and essential social services to senior citizens with very low income. With 75 rental apartment units, this organization serves as a sanctuary for these independent seniors, offering them a secure living environment. Beyond housing, Victory Heights extends its support through various social services, aiming to enhance the quality of life for its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Stars)
Victory Heights Inc has received a solid Three-Star rating from Charity Navigator, reflecting an overall score of 86%. This rating is primarily based on the organization’s accountability and financial management practices, which are crucial indicators of a nonprofit's reliability and transparency. The charity's adherence to best practices in financial oversight has contributed positively to its score, demonstrating a commitment to ethical governance.
One of the organization's notable strengths is its high program expense ratio, with 93.10% of its expenses allocated towards programs. This indicates that a significant majority of the funds raised are directly benefiting the intended programs rather than administrative costs. Additionally, Victory Heights Inc has established effective policies regarding conflicts of interest and whistleblower protections, which reinforce its commitment to ethical practices.
However, a limitation noted in the data is the percentage of independent board members, with only 42% being independent. While it still meets certain governance standards, increasing the proportion of independent members could further enhance accountability. Overall, Victory Heights Inc showcases commendable financial practices, though there remains room for improvement in board independence.
This AI summary has been generated from information found on Charity Navigator.
Is Victory Heights Inc legitimate?
Victory Heights Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Victory Heights Inc 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: $91,517
For more financial information, click here
What is the mission statement of Victory Heights Inc?
Victory Heights Inc, as an organization, is dedicated to providing affordable housing and associated social services to senior citizens with very low incomes. They offer 75 rental apartment units, catering specifically to independent seniors. Their mission is centered around enhancing the living conditions and support systems for these individuals, aiming to improve their quality of life.
Who is the CEO of Victory Heights Inc?
Leila A Finucane is the President & Ceo of Victory Heights Inc. The CEO's salary of Victory Heights Inc is $0 and their total compensation is $410,053.
What is the revenue of Victory Heights Inc?
Victory Heights Inc's revenue in 2022 was $908,007.
Who are the executives of Victory Heights Inc and what are their salaries?
Here are 10 key members and their salaries (Victory Heights Inc's CEO's salary is $0 and their total compensation is $410,053):
- Compensation: $0
- Related: $364,094
- Other: $45,959
- Compensation: $0
- Related: $244,362
- Other: $29,431
- Compensation: $0
- Related: $214,496
- Other: $38,157
- Compensation: $0
- Related: $197,403
- Other: $35,776
- Compensation: $0
- Related: $149,665
- Other: $26,588
- Compensation: $0
- Related: $134,038
- Other: $16,157
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Victory Heights Inc?
Victory Heights Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Victory Heights Inc
Victory Heights Inc, a nonprofit organization, is committed to providing affordable housing and related social services to senior citizens with very-low incomes. This mission is accomplished through the availability of 75 rental apartment units specifically designed for this demographic. The organization goes beyond just offering housing, also providing essential social services to enhance the living experience of its residents.
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Impact
October, 2024
Victory Heights Inc significantly impacts the lives of very-low-income independent senior citizens in Rockville, MD, by providing affordable housing and essential social services. With 75 rental apartment units dedicated to this demographic, it creates a supportive community that enables seniors to maintain their independence while accessing vital resources. By addressing housing insecurity, Victory Heights enhances the quality of life for these individuals, ensuring they have a safe and stable environment to thrive. The organization's commitment to affordable living arrangements and related services fosters social connections and promotes overall well-being among its residents.
This information is meant to be a general summary of Victory Heights Inc. 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: $34
- Program Service Revenue: $907,973
- Gross Receipts: $908,007
Assets and Liabilities:
- Total Assets: $10,100,057
- Total Liabilities: $4,359,196
- Net Assets: $5,740,861
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Fees & Contracts Gov Ag
Revenue
$598,768
Affordable Housing
Revenue
$271,736
Miscellaneous Income
Revenue
$37,469
Organization Details
Founding Year
2002
Principal Officer
Leila A Finucane
Main Address
11400 Rockville Pike STE 505, Rockville, MD, 20852
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