Overview
What is Boxford Friendship Foundation Inc?
Boxford Friendship Foundation Inc is a charitable organization situated in Boxford, Massachusetts. Their primary objective is to extend affordable housing opportunities to the elderly community, specifically individuals who are 60 years or older. By providing homes, the foundation aims to contribute positively to the well-being and living situations of senior citizens in the area.
What are the reviews and ratings of this charity?
Charity Navigator Rating 79% - Three-Star out of Four Star rating
The Boxford Friendship Foundation Inc has received a three-star rating from Charity Navigator, indicating a solid performance in accountability and finance. The organization excels in several areas, including an independent board of directors and strong financial oversight, which reflects a commitment to transparency and responsible management of funds.
The accountability and finance score of 79% is primarily driven by robust policies like conflict of interest and whistleblower protections, as well as thorough documentation of board meeting minutes. Additionally, an impressive program expense ratio of 85.06% suggests that a significant portion of their funds is allocated directly to their programs, which is a positive indicator for potential donors.
However, a notable concern arises from the liabilities to assets ratio of 123.99%, signaling potential financial strain that could impact the organization's sustainability. While the foundation demonstrates strong governance practices, this financial metric may be an area for future improvement to enhance overall fiscal health.
This AI summary has been generated from information found on Charity Navigator.
Is Boxford Friendship Foundation Inc legitimate?
Boxford Friendship Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Boxford Friendship Foundation 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 Boxford Friendship Foundation Inc?
The Boxford Friendship Foundation, as a mission-driven organization, is committed to providing affordable housing for individuals who have reached the age of 60. Their primary objective is to offer suitable living quarters for this age group. The foundation's mission is centered around this goal, striving to make housing accessible for elderly citizens. They do not disclose further specifics about their location.
Who is the CEO of Boxford Friendship Foundation Inc?
Arthur Havey is the Chairman of Boxford Friendship Foundation Inc.
What is the revenue of Boxford Friendship Foundation Inc?
Boxford Friendship Foundation Inc's revenue in 2022 was $1,168,244.
Who are the executives of Boxford Friendship Foundation Inc and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for Boxford Friendship Foundation Inc?
Boxford Friendship Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Boxford Friendship Foundation Inc
Boxford Friendship Foundation, a nonprofit organization, is committed to providing affordable housing for individuals aged 60 and above. Their mission is centered around offering homes that cater to the needs of the elderly citizens, ensuring they have a comfortable living space within their means. The foundation's primary goal is to make housing accessible and affordable for this specific demographic, thereby contributing positively to their well-being and quality of life.
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Impact
October, 2024
The Boxford Friendship Foundation Inc significantly enhances the lives of elderly citizens in Boxford, Massachusetts, by providing affordable housing specifically designed for individuals aged 60 and over. By focusing on this vulnerable demographic, the foundation addresses the critical need for accessible living options, ensuring that seniors can remain in their community and maintain their quality of life. This initiative not only offers safe and affordable homes but also fosters a sense of belonging and support among elderly residents, promoting social connections and wellbeing. The foundation plays a vital role in helping to alleviate the financial burdens often faced by seniors, thus allowing them to thrive in their later years.
This information is meant to be a general summary of Boxford Friendship Foundation 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: $68,597
- Program Service Revenue: $1,099,647
- Gross Receipts: $1,263,959
Assets and Liabilities:
- Total Assets: $12,247,009
- Total Liabilities: $15,171,799
- Net Assets: -$2,924,790
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,099,647
Organization Details
Founding Year
1984
Phone
(978) 887-8941Principal Officer
Arthur Havey
Main Address
50 FOUR MILE VILLAGE, BOXFORD, MA, 01921
NTEE Category
Code: L22 - Housing
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