Overview
What is First Richland-Morrow Housing Inc Xi?
First Richland-Morrow Housing Inc Xi, situated in Columbus, Ohio, is a nonprofit organization specializing in low-income housing. They primarily serve the elderly community, offering subsidized housing through Merissa Manor, which operates as a senior living and retirement community. The organization's primary mission is to provide a secure and comfortable living environment for those with limited financial resources. By offering subsidized housing, they help bridge the gap between affordability and housing needs, promoting dignity and independence for the elderly population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (58%)
First Richland-Morrow Housing Inc Xi has received a low rating of 58%, indicating significant areas for improvement in its accountability and finance practices. The organization performs well in certain aspects, such as having a fully independent board and a strong program expense ratio of 80.89%, suggesting that a large portion of its expenses are directed toward its mission-related activities.
However, the nonprofit has notable shortcomings that have impacted its overall score. These include a high liabilities-to-assets ratio of 155.41%, indicating financial instability, along with missing key governance policies such as a conflict of interest policy and a whistleblower policy. Additionally, the nonprofit has not posted its tax form on its website, which raises concerns about transparency.
Overall, while First Richland-Morrow Housing Inc Xi exhibits strengths in program management and board independence, the lack of essential policies and transparency measures highlights the need for better financial management and governance practices to build trust with stakeholders and improve its rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is First Richland-Morrow Housing Inc Xi legitimate?
First Richland-Morrow Housing Inc Xi is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Richland-Morrow Housing Inc Xi 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: $30,192
For more financial information, click here
What is the mission statement of First Richland-Morrow Housing Inc Xi?
First Richland-Morrow Housing Inc Xi, through its Merissa Manor facility, is dedicated to providing affordable housing for low-income elderly individuals. Acting as a senior citizens' housing and retirement community, Merissa Manor is subsidized by the HUD, enabling it to offer suitable living accommodations for this specific demographic. The organization's mission is centered around ensuring that elderly individuals in need have access to secure and affordable housing, thereby enhancing their quality of life in their later years.
Who is the CEO of First Richland-Morrow Housing Inc Xi?
Rev Paul A Stillwell is the Chairman of First Richland-Morrow Housing Inc Xi.
What is the revenue of First Richland-Morrow Housing Inc Xi?
First Richland-Morrow Housing Inc Xi's revenue in 2022 was $140,982.
Who are the executives of First Richland-Morrow Housing Inc Xi and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for First Richland-Morrow Housing Inc Xi?
First Richland-Morrow Housing Inc Xi's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of First Richland-Morrow Housing Inc Xi
First Richland-Morrow Housing Inc Xi, as an organization, is dedicated to providing affordable housing for low-income elderly individuals. Their primary mission is to operate Merissa Manor, a senior citizens housing and retirement community located in Columbus, OH. This housing is subsidized by HUD, making it an accessible option for those with limited financial resources. Merissa Manor serves as a safe and comfortable living environment for elderly individuals, offering them a place to reside in their later years with the necessary support and amenities. By providing this essential service, First Richland-Morrow Housing Inc Xi is contributing to the well-being and dignity of the elderly population.
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Impact
October, 2024
First Richland-Morrow Housing Inc Xi has a significant impact on the community by providing affordable housing solutions for low-income elderly individuals through its Merissa Manor facility. Located in Columbus, OH, this retirement community offers HUD-subsidized housing that enables seniors to live in a supportive and stable environment. By addressing the housing needs of vulnerable populations, it fosters a sense of community, enhances the quality of life for residents, and alleviates financial pressures associated with housing costs. The availability of affordable housing options further contributes to the overall well-being of the elderly population in the area, promoting independence and ensuring that seniors have access to necessary resources and social connections.
This information is meant to be a general summary of First Richland-Morrow Housing Inc Xi. 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: $13
- Program Service Revenue: $86,640
- Gross Receipts: $140,982
Assets and Liabilities:
- Total Assets: $885,970
- Total Liabilities: $1,376,970
- Net Assets: -$491,000
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$86,640
Organization Details
Founding Year
2007
Phone
(614) 451-9000Principal Officer
Rev Paul A Stillwell
Main Address
1601 BETHEL ROAD RM/STE STE A, COLUMBUS, OH, 43220
NTEE Category
Code: L22 - Housing
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