Overview
What is Sacred Heart Retirement Community Inc Co Barkan Management Company?
Sacred Heart Retirement Community Inc, under the management of Co Barkan, is a nonprofit organization situated in the town of Vernon and its surrounding areas. Its primary mission is to provide affordable housing and related services to the elderly population. Specifically, they offer 31 units of housing, ensuring that the elderly in need have a secure place to live. Their mission extends beyond just housing, as they aim to improve the quality of life for the elderly in their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75%, Three-Star out of Four Star rating. This rating reflects a solid performance in accountability and finance, which represents the only metric evaluated for this organization. A three-star rating indicates that Sacred Heart Retirement Community Inc. meets basic standards for transparency and financial health.
The organization has strengths in governance and financial reporting, as evidenced by having an entirely independent board and a comprehensive audit and oversight committee. They also have a strong program expense ratio of approximately 79.48%, indicating that a significant portion of their budget is allocated directly to their programs, which is a positive sign of effective resource use.
However, the organization has a concerning liabilities to assets ratio of 166.83%, which suggests that their liabilities exceed their assets significantly. This could indicate potential financial risk, and while the charity demonstrates strong policies and practices, this imbalance may warrant further scrutiny for potential long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Sacred Heart Retirement Community Inc Co Barkan Management Company legitimate?
Sacred Heart Retirement Community Inc Co Barkan Management Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sacred Heart Retirement Community Inc Co Barkan Management Company 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: $110,529
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What is the mission statement of Sacred Heart Retirement Community Inc Co Barkan Management Company?
The Sacred Heart Retirement Community Inc, managed by Barkan Management Company, is committed to providing low-income housing and related services to the elderly residing in their local area. Their primary mission is to cater to this demographic, ensuring they have access to suitable living accommodations. This community offers 31 units specifically designed for elderly individuals, demonstrating their dedication to enhancing their living circumstances.
Who is the CEO of Sacred Heart Retirement Community Inc Co Barkan Management Company?
Misty Martinek is the Ceo/Board Chair of Sacred Heart Retirement Community Inc Co Barkan Management Company. The CEO's salary of Sacred Heart Retirement Community Inc Co Barkan Management Company is $0 and their total compensation is $0.
What is the revenue of Sacred Heart Retirement Community Inc Co Barkan Management Company?
Sacred Heart Retirement Community Inc Co Barkan Management Company's revenue in 2022 was $660,911.
Who are the executives of Sacred Heart Retirement Community Inc Co Barkan Management Company and what are their salaries?
Here are 8 key members and their salaries (Sacred Heart Retirement Community Inc Co Barkan Management Company's CEO's salary is $0 and their total compensation is $0):
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Where can I find the form 990 for Sacred Heart Retirement Community Inc Co Barkan Management Company?
Sacred Heart Retirement Community Inc Co Barkan Management Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Sacred Heart Retirement Community Inc Co Barkan Management Company
Sacred Heart Retirement Community Inc, under the management of Co Barkan Management Company, is dedicated to providing low-income housing and related services to the elderly population residing in their surrounding areas. The organization's mission is to cater specifically to the needs of the elderly, offering them a secure living environment and essential support services. By offering 31 units of housing, Sacred Heart Retirement Community Inc aims to contribute positively to the lives of these individuals, ensuring they can live with dignity and independence. The community's services extend beyond housing, offering a holistic approach to care for the elderly, thereby enhancing their overall quality of life.
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Impact
July, 2024
Sacred Heart Retirement Community Inc Co, managed by Barkan Management Company, plays a vital role in providing low-income housing and related services to the elderly in Vernon, CT, and surrounding areas. Through its programs, Sacred Heart offers 31 units of housing to this vulnerable demographic, ensuring they have a safe and affordable place to call home. By focusing on addressing the housing needs of the elderly population, Sacred Heart Retirement Community contributes to enhancing the quality of life for seniors in the area and promotes community well-being.
This information is meant to be a general summary of Sacred Heart Retirement Community Inc Co Barkan Management Company. 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: $202
- Program Service Revenue: $588,631
- Gross Receipts: $660,911
Assets and Liabilities:
- Total Assets: $1,254,980
- Total Liabilities: $2,029,665
- Net Assets: -$774,685
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$588,631
Organization Details
Founding Year
1984
Phone
(860) 870-9636Principal Officer
Misty Martinek
Main Address
540 HARTFORD TURNPIKE, VERNON, CT, 06066
NTEE Category
Code: L22Z - Housing
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