Overview
What is Mid-York Senior Homes Inc?
Mid-York Senior Homes Inc. is a nonprofit organization situated in Hamilton, New York, with a specific focus on providing affordable housing for elderly citizens. The organization operates a 72-unit housing complex, subsidized by the United States Department of Agriculture (USDA) Rural Housing Service. This complex, known as Mid-York Senior Homes, aims to cater to qualified, low-income senior citizens, ensuring they have access to secure and comfortable living arrangements. The organization currently employs a team of four individuals to carry out its mission.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Star rating)
Mid-York Senior Homes Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in its accountability and financial practices. The overall score, primarily based on accountability and finance metrics, reflects a strong commitment to governance, with an independent board and a comprehensive conflict of interest policy in place. The charity's financial statements are audited, ensuring transparency in its operations.
One of the notable strengths of Mid-York Senior Homes Inc is its high program expense ratio of 79.78%, showing that the majority of its resources are allocated towards program services rather than administrative costs. Additionally, the organization boasts a full roster of independent board members, further enhancing its governance credibility.
However, the charity's liabilities to assets ratio is reported at 73.40%, which appears to be a concern as it did not score well in this area. This indicates a potential risk in financial health that stakeholders may want to monitor. Overall, while the organization demonstrates commendable accountability, attention to its financial ratios could improve its standing further.
This AI summary has been generated from information found on Charity Navigator.
Is Mid-York Senior Homes Inc legitimate?
Mid-York Senior Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mid-York Senior Homes 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: $86,238
Professional Fundraising Fees: $0
Other Salaries and Wages: $77,860
For more financial information, click here
What is the mission statement of Mid-York Senior Homes Inc?
Mid-York Senior Homes Inc serves as a 72-unit housing complex, offering affordable living accommodations for senior citizens. The organization's primary mission is to provide suitable housing solutions for this demographic, catering to individuals with limited income. Mid-York Senior Homes Inc receives subsidization support from the United States Department of Agriculture's Rural Housing Service. The entity ensures that the apartments it offers are accessible to qualified senior citizens, enhancing their living standards within the community.
What is the revenue of Mid-York Senior Homes Inc?
Mid-York Senior Homes Inc's revenue in 2023 was $516,285.
Who are the executives of Mid-York Senior Homes Inc and what are their salaries?
The average compensation at Mid-York Senior Homes Inc during 2023 was $41,024. There are 4 employees at Mid-York Senior Homes Inc.
Here are 14 key members and their salaries:
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- Compensation: $78,696
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- Other: $7,542
Where can I find the form 990 for Mid-York Senior Homes Inc?
Mid-York Senior Homes Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Mid-York Senior Homes Inc
Mid-York Senior Homes Inc is a dedicated organization that focuses on providing affordable housing for senior citizens. With a 72-unit housing complex at its disposal, Mid-York Senior Homes Inc serves as a sanctuary for qualified, low-income senior citizens. The entity's mission is primarily subsidized by the United States Department of Agriculture (USDA) Rural Housing Service, ensuring that the housing is accessible and affordable for those in need. By offering this vital service, Mid-York Senior Homes Inc contributes to the well-being and comfort of senior citizens, enabling them to live with dignity and independence.
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Impact
July, 2024
Mid-York Senior Homes Inc's impact lies in providing affordable housing for senior citizens in the Hamilton, NY area. Through its 72-unit housing complex, this organization offers a vital resource for low-income seniors to access safe and secure living arrangements. By owning and subsidizing this property with the USDA Rural Housing Service, Mid-York Senior Homes Inc plays a crucial role in ensuring that elderly individuals have a place to call home without facing financial hardships. This support directly contributes to the well-being and quality of life of seniors in the community, fostering a sense of security and stability for those in need.
This information is meant to be a general summary of Mid-York Senior Homes 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 2023.
- Investment Income: $2,135
- Program Service Revenue: $320,879
- Gross Receipts: $521,085
Assets and Liabilities:
- Total Assets: $1,808,024
- Total Liabilities: $1,318,209
- Net Assets: $489,815
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$320,879
Organization Details
Founding Year
1977
Principal Officer
Samanthi Martinez
NTEE Category
Code: L22 - Housing
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