Overview
What is Townsend Elderly Residences Inc?
Townsend Elderly Residences Inc is a nonprofit organization situated in Worcester, Massachusetts, specifically at 191 May Street. Their primary mission is to provide affordable residential housing for elderly individuals, with a focus on a 50-unit complex located in Townsend, Massachusetts. This organization strives to ensure that elderly residents in the area have access to suitable living accommodations, contributing to their overall well-being and quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, Two-Star out of Four Star rating.
Townsend Elderly Residences Inc has achieved a 71% rating from Charity Navigator, which reflects a moderate performance in accountability and finance. The organization benefits from a fully independent board and strong oversight, as evidenced by perfect scores in areas such as independent board members and financial statements oversight. Notably, they have a high program expense ratio of 91.11%, indicating that a significant portion of their funds directly supports their programs.
Despite these strengths, the organization has some shortcomings that affect its overall rating. There are missing policies, including a whistleblower policy and a document retention and destruction policy, which are crucial for transparency and accountability. Additionally, the liabilities to assets ratio at 197.38% raises concerns about the organization’s financial stability.
In summary, while Townsend Elderly Residences Inc shows promise with strong governance practices and a high commitment to program spending, it faces critical issues related to policy implementation and financial health that potential supporters should consider.
This AI summary has been generated from information found on Charity Navigator.
Is Townsend Elderly Residences Inc legitimate?
Townsend Elderly Residences Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Townsend Elderly 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 Townsend Elderly Residences Inc?
Townsend Elderly Residences Inc's mission is centered around providing affordable residential housing for elderly individuals. The organization undertakes various activities to achieve this, including acquiring, constructing, rehabilitating, and operating residential units specifically designed for the elderly. Their goal is to ensure that elderly persons have access to affordable and comfortable living spaces, thereby enhancing their quality of life.
Who is the CEO of Townsend Elderly Residences Inc?
Brian Scales is the Director of Townsend Elderly Residences Inc.
What is the revenue of Townsend Elderly Residences Inc?
Townsend Elderly Residences Inc's revenue in 2022 was $664,847.
Who are the executives of Townsend Elderly Residences Inc and what are their salaries?
Here are 8 key members and their salaries:
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- Related: $288,400
- Other: $15,221
- Compensation: $0
- Related: $157,644
- Other: $9,178
- Compensation: $0
- Related: $73,027
- Other: $4,318
Where can I find the form 990 for Townsend Elderly Residences Inc?
Townsend Elderly Residences Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Townsend Elderly Residences Inc
Townsend Elderly Residences Inc, a nonprofit organization, is committed to providing affordable residential housing for the elderly population. Their mission is to acquire, construct, rehabilitate, and operate housing units specifically designed for elderly individuals, ensuring they have a secure and comfortable living space. This organization's primary goal is to make residential housing accessible and affordable for the elderly, thereby enhancing their quality of life and enabling them to age gracefully with dignity.
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Impact
July, 2024
Townsend Elderly Residences Inc provides a crucial service by offering affordable residential housing for elderly persons in Townsend, Massachusetts. By acquiring, constructing, rehabilitating, and operating 50 units of such housing, this organization directly addresses the pressing need for accessible and safe living spaces for the elderly population in the area. Through its focused mission, Townsend Elderly Residences Inc contributes to enhancing the quality of life for elderly individuals in Townsend and fosters a sense of community among its residents. This impact is significant in promoting the well-being and dignity of elderly persons who may otherwise struggle to find affordable housing options tailored to their needs.
This information is meant to be a general summary of Townsend Elderly 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: $45
- Program Service Revenue: $250,141
- Gross Receipts: $664,847
Assets and Liabilities:
- Total Assets: $1,433,455
- Total Liabilities: $2,829,450
- Net Assets: -$1,395,995
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$250,141
Organization Details
Founding Year
1985
Phone
(978) 630-6600Principal Officer
Brian Scales
Main Address
191 MAY STREET, WORCESTER, MA, 01602
NTEE Category
Code: L21Z - Housing
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