Overview
What is First Shared Housing Corp?
First Shared Housing Corp is a nonprofit organization situated in Philadelphia, Pennsylvania, specifically at 704-706 West Girard Avenue, 19123. Their primary mission is to manage and maintain six units of shared housing for low-income senior citizens and the disabled. The organization, with a small team of one employee, owns and manages these senior housing units located at 540 South 61st Street, Philadelphia, Pennsylvania. The nonprofit provides affordable, shared living spaces for elderly individuals who may require additional support and assistance.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58% (One-Star out of Four Star Rating)
First Shared Housing Corp has received a low rating of 58%, indicating significant concerns regarding its accountability and financial management. The organization has notably failed to secure any points for having a majority of independent board members and for the size of its independent board, which raises questions about governance and oversight.
On a more positive note, the charity has scored well in areas such as conflict of interest policies, whistleblower protections, and the retention of board meeting minutes, showcasing some commitment to transparency and ethical practices. Additionally, it has maintained a solid program expense ratio, indicating that a large portion of its funds goes directly to its programs.
However, the organization has substantial weaknesses, particularly highlighted by its liabilities to assets ratio, which received a score of zero. This suggests financial vulnerabilities that could impact its long-term stability and effectiveness in fulfilling its mission. Overall, potential donors and supporters may want to consider these factors before engaging with First Shared Housing Corp.
This AI summary has been generated from information found on Charity Navigator.
Is First Shared Housing Corp legitimate?
First Shared Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Shared Housing Corp 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: $11,281
For more financial information, click here
What is the mission statement of First Shared Housing Corp?
First Shared Housing Corp's mission is centered around providing housing solutions for low-income senior citizens and the disabled. Specifically, the corporation manages and maintains six units of shared senior housing, offering a communal living environment. This organization aims to contribute positively to the lives of its residents, ensuring they have a comfortable and supportive place to call home. The corporation's activities are focused on ensuring the units are well-maintained and meet the needs of its seniors and disabled residents.
Who is the CEO of First Shared Housing Corp?
Andrew Anderson is the President/Secretary of First Shared Housing Corp.
What is the revenue of First Shared Housing Corp?
First Shared Housing Corp's revenue in 2022 was $75,359.
Who are the executives of First Shared Housing Corp and what are their salaries?
The average compensation at First Shared Housing Corp during 2022 was $11,281. There is 1 employee and 2 volunteers at First Shared Housing Corp.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $178,000
- Other: $5,340
- Compensation: $0
- Related: $100,000
- Other: $5,000
- Compensation: $0
- Related: $65,000
- Other: $3,250
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for First Shared Housing Corp?
First Shared Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of First Shared Housing Corp
First Shared Housing Corp, a nonprofit organization, is dedicated to providing and managing shared senior housing for those with limited income. Situated in Philadelphia, Pennsylvania, the corporation manages six units specifically designed for low-income senior citizens and the disabled. The primary mission of First Shared Housing Corp is to ensure these individuals have a suitable living environment, offering them not only a place to reside but also providing essential maintenance services for their shared units. The corporation's commitment to this community is evident in its careful management of these facilities, ensuring the well-being and comfort of its residents.
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Impact
August, 2024
First Shared Housing Corp provides much-needed affordable housing for low-income senior citizens and disabled individuals in Philadelphia, Pennsylvania. By owning and managing six units of shared housing, they offer a secure and stable living environment for those in need. Their impact can be seen in the improved quality of life and sense of community that they provide for their residents. Through their mission to ensure access to safe and affordable housing, First Shared Housing Corp plays a vital role in supporting some of the most vulnerable members of the community.
This information is meant to be a general summary of First Shared Housing Corp. 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: $2
- Program Service Revenue: $12,951
- Gross Receipts: $75,359
Assets and Liabilities:
- Total Assets: $86,075
- Total Liabilities: $475,331
- Net Assets: -$389,256
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$12,951
Organization Details
Founding Year
1988
Phone
(215) 825-8800Principal Officer
Andrew Anderson
Main Address
704-706 WEST GIRARD AVENUE, PHILADELPHIA, PA, 19123
NTEE Category
Code: L20 - Housing
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