Overview
What is Fairhaven Homes 202?
Fairhaven Homes 202 is a nonprofit organization situated in Asotin County, specifically focusing on addressing the housing needs of individuals with limited financial resources. By offering numerous programs, Fairhaven Homes 202 helps cover their tenants' rental expenses. The organization's primary mission is to provide low-income housing solutions, ensuring that individuals in need have a secure place to call home.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (58%)
Fairhaven Homes has received a low rating of 58% from Charity Navigator, resulting in a One-Star out of Four Star rating. While the organization demonstrates strong accountability in several areas, including having a fully independent board and a high program expense ratio of 80.89%, it is significantly penalized for its liabilities to assets ratio, which stands at a concerning 146.66%. This high ratio indicates potential financial instability that could impact the organization's long-term sustainability.
The strengths highlighted by the rating include a majority independent board and thorough documentation of board meeting minutes, both of which are positive indicators of governance practices. Additionally, the program expense ratio suggests that a substantial portion of funds is being utilized for program services, rather than administrative costs. However, the alarming liabilities to assets ratio raises serious concerns about the financial health and operational viability of Fairhaven Homes.
Overall, while Fairhaven Homes has some commendable governance practices and a strong commitment to program spending, the financial risks indicated by its liabilities could pose challenges for future operations. Stakeholders and potential donors may want to carefully consider these factors before making decisions related to support or investment in the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Fairhaven Homes 202 legitimate?
Fairhaven Homes 202 is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fairhaven Homes 202 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: $18,549
For more financial information, click here
What is the mission statement of Fairhaven Homes 202?
Fairhaven Homes 202 is committed to providing low-income housing for individuals. They accomplish this mission through various programs that help cover rental expenses. The organization's activities aim to make housing accessible to those with limited financial resources. By offering these programs, Fairhaven Homes 202 contributes to the well-being and stability of the individuals it serves. The organization's mission is to make a difference in the lives of its beneficiaries by providing them with a secure and affordable housing solution.
Who is the CEO of Fairhaven Homes 202?
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What is the revenue of Fairhaven Homes 202?
Fairhaven Homes 202's revenue in 2022 was $83,252.
Who are the executives of Fairhaven Homes 202 and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for Fairhaven Homes 202?
Fairhaven Homes 202's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Fairhaven Homes 202
Fairhaven Homes 202 is committed to providing low-income housing solutions for individuals in need. Through its diverse programs, the organization covers the rental expenses for those who are financially disadvantaged. By offering this vital service, Fairhaven Homes 202 plays a significant role in addressing housing insecurity and contributing to a more equitable community.
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Impact
October, 2024
Fairhaven Homes 202 plays a vital role in addressing the housing needs of low-income individuals in Asotin County. By offering various programs that assist with rental expenses, it helps alleviate the burden of housing costs for many in the community. This support not only provides immediate relief for individuals and families struggling to secure stable housing, but also contributes to the overall well-being and stability of the local population.
The impact of Fairhaven Homes 202 extends beyond mere financial assistance; it fosters a sense of community and belonging by helping residents find safe and affordable places to live. This stability allows individuals to pursue employment, education, and other opportunities, significantly enhancing their quality of life. Furthermore, by addressing housing insecurity, Fairhaven Homes 202 helps reduce homelessness and its associated challenges, thereby strengthening the social fabric of Clarkston, WA.
In summary, Fairhaven Homes 202 is instrumental in promoting housing accessibility and stability in Asotin County, creating a positive ripple effect throughout the community.
This information is meant to be a general summary of Fairhaven Homes 202. 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: $32
- Program Service Revenue: $57,453
- Gross Receipts: $83,252
Assets and Liabilities:
- Total Assets: $1,212,120
- Total Liabilities: $1,777,712
- Net Assets: -$565,592
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OTHER RELATED RECEIPTS
Revenue
$1,203
TENANT RENTS
Revenue
$56,250
Organization Details
Founding Year
2005
Main Address
1212 FAIR STREET, CLARKSTON, WA, 99403
NTEE Category
Code: L22 - Housing
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