Overview
What is Clear Spring Road Residences Inc?
Clear Spring Road Residences Inc is a nonprofit organization situated in Eden Prairie, Minnesota. Their primary mission is to offer housing for individuals with disabilities and mental health issues. They operate in a campus setting, consisting of three buildings, each featuring four studio apartments. This housing is specifically designed for people with a medically diagnosed mental illness and who have extremely low income. Various support services are available for these individuals, allowing them to live independently, engage with their community, and maximize their potential. These services can be chosen based on individual needs, helping them lead fulfilling lives.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Clear Spring Road Residences Inc has achieved a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The rating is based entirely on a single beacon score, which reflects the organization’s fiscal responsibility and governance practices. The organization scored particularly well in areas such as having a majority of independent board members and maintaining effective policies regarding conflicts of interest, whistleblowing, and document retention.
The nonprofit demonstrates strong program expense management, with an impressive program expense ratio of 92.10%, which indicates a significant proportion of its budget is directed towards its mission-related activities. This suggests effective utilization of resources in serving its community. The organization has also established proper governance practices, ensuring transparency and accountability to its stakeholders.
However, a notable concern is the organization's liabilities to assets ratio, which stands at 122.45%. This indicates that the organization may have more liabilities than assets, which could pose potential financial stability risks in the long term. Overall, while Clear Spring Road Residences Inc shows strengths in governance and program spending, addressing its financial health remains a critical area for improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Clear Spring Road Residences Inc legitimate?
Clear Spring Road Residences Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Clear Spring Road Residences 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 Clear Spring Road Residences Inc?
Clear Spring Road Residences Inc's mission is centered around providing housing for individuals dealing with disabilities and mental health issues. Their primary objective is to offer a living environment that caters to people diagnosed with severe mental illnesses and who have extremely low incomes. The organization provides various support services to help these individuals live independently, engage with their community, and maximize their quality of life. Residents have the freedom to choose from a selection of services designed to aid their personal growth and self-sufficiency.
Who is the CEO of Clear Spring Road Residences Inc?
Jesse Hallstrom is the President, Chief Executive of Clear Spring Road Residences Inc. The CEO's salary of Clear Spring Road Residences Inc is $0 and their total compensation is $239,133.
What is the revenue of Clear Spring Road Residences Inc?
Clear Spring Road Residences Inc's revenue in 2022 was $59,601.
Who are the executives of Clear Spring Road Residences Inc and what are their salaries?
There 5 volunteers at Clear Spring Road Residences Inc.
Here are 7 key members and their salaries (Clear Spring Road Residences Inc's CEO's salary is $0 and their total compensation is $239,133):
- Compensation: $0
- Related: $231,434
- Other: $7,699
- Compensation: $0
- Related: $137,496
- Other: $22,897
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- 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 Clear Spring Road Residences Inc?
Clear Spring Road Residences Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Clear Spring Road Residences Inc
Clear Spring Road Residences Inc is committed to providing housing for individuals who are living with disabilities and mental health issues. Their mission is to create an environment where these individuals can reside independently, participate in their community, and lead fulfilling lives. The organization operates a campus setting, consisting of three buildings, each containing four studio apartments. These apartments are specifically designed for individuals who have been medically diagnosed with a mental illness and have extremely low incomes.
In addition to providing housing, Clear Spring Road Residences Inc offers a variety of support services for the residents to choose from. These services are aimed at helping them to live independently and engage positively with their community. The organization understands that every individual is unique, and as such, they offer a range of options to cater to different needs and preferences. These services can include anything from counseling and therapy to practical life skills training and social activities. The ultimate goal is to empower the residents to live their best lives and reach their full potential.
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Impact
August, 2024
Clear Spring Road Residences Inc's impact is profound in providing essential housing and support for people with disabilities and mental health issues in Eden Prairie, MN. Through its group of three buildings offering studio apartments, this organization enables individuals with medically diagnosed mental illnesses and extreme low incomes to live independently and actively participate in their community. By offering various support services tailored to individual needs, Clear Spring Road Residences Inc empowers its residents to live fulfilling lives and break barriers imposed by societal stigmas. This initiative not only addresses the critical need for affordable housing but also contributes significantly to the well-being and integration of vulnerable populations into the broader community.
This information is meant to be a general summary of Clear Spring Road Residences 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: $52
- Program Service Revenue: $59,549
- Gross Receipts: $59,601
Assets and Liabilities:
- Total Assets: $988,756
- Total Liabilities: $1,210,754
- Net Assets: -$221,998
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$58,814
OTHER REVENUE
Revenue
$735
Organization Details
Founding Year
2006
Phone
(612) 355-2626Principal Officer
Jesse Hallstrom
Main Address
10050 CROSSTOWN CIRCLE SUITE 600, EDEN PRAIRIE, MN, 55344
NTEE Category
Code: I20 - Crime
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