Overview
What is Woolard Homes Inc?
Woolard Homes Inc, a nonprofit based in Frederick, Maryland, is dedicated to providing affordable housing for the chronically mentally disabled. In alignment with Section 811 of the National Affordable Housing Act, they strive to offer suitable accommodations for this specific demographic, focusing on enhancing their quality of life and promoting overall well-being. The organization's mission is centered around ensuring affordable housing for the chronically mentally disabled, thus contributing positively to their communities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars
Woolard Homes Inc has received a one-star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. With an overall score of 55%, the organization shows strengths in governance, evidenced by a fully independent board and a lack of material diversion of assets. However, serious weaknesses are evident in their lack of essential policies and transparency measures, which have contributed to their low score.
The organization scores particularly well in its program expense ratio, reflecting a strong commitment to direct programming. Nonetheless, the absence of a website listed on their tax forms, a missing conflict of interest policy, and the failure to post tax forms on their website highlight severe gaps in financial transparency and governance practices. These issues suggest a need for improvement in the organization’s operational protocols.
Overall, while Woolard Homes Inc demonstrates effective program spending, its lack of foundational policies and transparency can be concerning for potential donors and stakeholders. It is essential for the organization to address these governance shortcomings to enhance its credibility and trustworthiness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Woolard Homes Inc legitimate?
Woolard Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Woolard 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Woolard Homes Inc?
Woolard Homes Inc is dedicated to providing affordable housing for the chronically mentally disabled, in accordance with Section 811 of the National Affordable Housing Act. Their mission is centered around offering a living solution to this specific group, ensuring they have a place to call home. This endeavor is carried out with the organization's exempt status, demonstrating a commitment to this cause.
Who is the CEO of Woolard Homes Inc?
Sarah Norman is the Treasurer of Woolard Homes Inc.
What is the revenue of Woolard Homes Inc?
Woolard Homes Inc's revenue in 2022 was $98,470.
Who are the executives of Woolard Homes Inc and what are their salaries?
There 5 volunteers at Woolard Homes Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $451,063
- Other: $25,617
- Compensation: $0
- Related: $172,288
- Other: $21,000
- 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 Woolard Homes Inc?
Woolard Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Woolard Homes Inc
Woolard Homes Inc, a nonprofit organization, is dedicated to providing affordable housing for the chronically mentally disabled. In alignment with Section 811 of the National Affordable Housing Act, Woolard Homes strives to create a living environment that caters to this specific group of individuals. Their mission is clearly defined: to offer affordable housing solutions to those struggling with long-term mental disabilities. By doing so, Woolard Homes Inc seeks to enhance the quality of life for these individuals, ensuring they have a stable and supportive living situation. Their work is undertaken under an exempt status, reflecting their commitment to this noble cause.
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Impact
June, 2024
Woolard Homes Inc's impact is crucial in providing affordable housing to the chronically mentally disabled in accordance with the Section 811 of the National Affordable Housing Act. By offering a stable and supportive living environment for this vulnerable population, Woolard Homes Inc plays a significant role in improving the quality of life for those in need. Their mission to address the housing needs of the chronically mentally disabled underscores their commitment to promoting mental health and well-being within the community.
This information is meant to be a general summary of Woolard 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 2022.
- Investment Income: $6
- Program Service Revenue: $98,464
- Gross Receipts: $98,470
Assets and Liabilities:
- Total Assets: $985,888
- Total Liabilities: $1,246,558
- Net Assets: -$260,670
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$98,464
Organization Details
Founding Year
2004
Phone
(301) 662-0099Principal Officer
Sarah Norman
Main Address
PO BOX 3734, FREDERICK, MD, 21705
NTEE Category
Code: F33 - Mental health
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