Overview
What is Eldercare Initiatives Inc?
Eldercare Initiatives Inc, located in South Hadley, Massachusetts, is a nonprofit organization dedicated to serving the low-income elderly community. They manage 45 housing units, providing a residential community for this demographic. Financed by the U.S. Department of Housing and Urban Development (HUD) under Section 202 of the Housing Act of 1959, their mission is to offer a supportive living environment that caters to the needs of the elderly. This nonprofit organization contributes significantly to the well-being and housing security of the elderly population in its vicinity.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Eldercare Initiatives Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The overall score reflects a comprehensive evaluation based solely on this beacon, with a particular emphasis on governance and financial health. A significant strength noted is the organization’s 100% independent board composition, which demonstrates a commitment to effective oversight.
The charity has excelled in several financial metrics, notably achieving a program expense ratio of 75.64%, which suggests that a substantial portion of its funds are directed towards its programs. Additionally, it has established robust policies on conflict of interest, whistleblowing, and document retention, showcasing its commitment to ethical practices and transparency.
However, the organization faces a notable challenge with a liabilities to assets ratio of 134.99%, indicating that it has more liabilities than assets. This could raise concerns about financial sustainability moving forward. Overall, while Eldercare Initiatives Inc shows strong governance and program expense efficiency, attention to its financial liabilities may be needed to enhance its operational stability.
This AI summary has been generated from information found on Charity Navigator.
Is Eldercare Initiatives Inc legitimate?
Eldercare Initiatives Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Eldercare Initiatives 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.
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What is the mission statement of Eldercare Initiatives Inc?
Eldercare Initiatives Inc's mission is centered around operating a community residential program for low-income elderly individuals. This mission is carried out under the financial support of the U.S. Department of Housing and Urban Development (HUD) through Section 202 of the Housing Act of 1959. The organization operates 45 housing units, providing a home for these elderly tenants on a non-profit basis. The goal is to provide a safe and affordable living environment for this vulnerable population.
Who is the CEO of Eldercare Initiatives Inc?
Bernice L Bowler is the President of Eldercare Initiatives Inc.
What is the revenue of Eldercare Initiatives Inc?
Eldercare Initiatives Inc's revenue in 2022 was $513,540.
Who are the executives of Eldercare Initiatives Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Eldercare Initiatives Inc?
Eldercare Initiatives Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Eldercare Initiatives Inc
Eldercare Initiatives Inc, a nonprofit organization, is dedicated to operating a community residential program. Financed by the U.S. Department of Housing and Urban Development (HUD) under Section 202 of the Housing Act of 1959, their mission is to provide housing units for low-income elderly tenants. This mission is carried out on a nonprofit basis, ensuring that elderly individuals who require assistance can reside in a safe and supportive environment. The organization operates 45 such housing units, providing a living space for elderly individuals who may be in need of additional support.
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Impact
July, 2024
Eldercare Initiatives Inc's impact is focused on providing a vital community residential program for low-income elderly individuals. By operating 45 housing units on an Eldercare Initiatives Inc basis in South Hadley, Massachusetts, this organization plays a crucial role in offering affordable housing options for the elderly population. Through its mission to operate a community residential program financed by the U.S. Department of Housing and Urban Development (HUD) under Section 202 of the Housing Act of 1959, Eldercare Initiatives Inc contributes to enhancing the quality of life and well-being of low-income elderly tenants in the region.
This information is meant to be a general summary of Eldercare Initiatives 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: $1,269
- Program Service Revenue: $512,271
- Gross Receipts: $513,540
Assets and Liabilities:
- Total Assets: $5,260,713
- Total Liabilities: $6,964,774
- Net Assets: -$1,704,061
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$505,486
LAUNDRY INCOME
Revenue
$5,839
MISCELLANEOUS
Revenue
$946
Organization Details
Founding Year
2005
Phone
(413) 538-9020Principal Officer
Bernice L Bowler
Main Address
93 CANAL STREET, SOUTH HADLEY, MA, 01075
NTEE Category
Code: L22 - Housing
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