Overview
What is Mount Carmel Housing Inc?
Mount Carmel Housing Inc is a nonprofit organization situated in Worcester, Massachusetts. The primary focus of this organization is to cater to the needs of elderly and handicapped individuals by offering them suitable housing facilities and essential services. The 75-unit apartment building operated by Mount Carmel Housing Inc is specifically designed to meet the unique requirements of these individuals, ensuring they receive the physical, social, and psychological support they need. The mission of Mount Carmel Housing Inc is deeply rooted in its commitment to enriching the lives of its residents by providing them with a nurturing environment that caters to their specific needs.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 75%, Three-Star out of Four Star rating.
Mount Carmel Housing Inc has received a 75% score, reflecting a solid performance in terms of accountability and finance. The charity boasts a perfect score in several areas, including having an entirely independent board and a strong conflict of interest policy. This demonstrates a commitment to transparency and responsible governance, which are essential for building trust with donors and stakeholders.
While the organization excels in many aspects, it faces a significant challenge with its financial health, indicated by a liabilities-to-assets ratio of 178.71%. This metric suggests that the organization may have more liabilities than it can cover with its assets, which could raise concerns about its long-term sustainability. Nonetheless, the absence of material asset diversion and the presence of an audit committee indicate that Mount Carmel Housing Inc is actively managing its financial responsibilities.
Overall, while Mount Carmel Housing Inc demonstrates commendable practices in governance and accountability, potential donors and supporters may want to consider the implications of its financial situation before contributing. Continuous monitoring of its financial health will be crucial for the organization's future stability.
This AI summary has been generated from information found on Charity Navigator.
Is Mount Carmel Housing Inc legitimate?
Mount Carmel Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mount Carmel Housing 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: $247,909
For more financial information, click here
What is the mission statement of Mount Carmel Housing Inc?
Mount Carmel Housing Inc's mission is centered around providing suitable housing and essential services for elderly and handicapped individuals. The organization strives to cater to the physical, social, and psychological needs of these individuals through its facilities and offerings. They operate a 75-unit apartment building, tailored to meet the specific requirements of eligible elderly and handicapped residents. The corporation's mission aims to enhance their residents' quality of life and promote their overall well-being.
Who is the CEO of Mount Carmel Housing Inc?
Msgr F Stephen Pedone is the President/Treasurer of Mount Carmel Housing Inc.
What is the revenue of Mount Carmel Housing Inc?
Mount Carmel Housing Inc's revenue in 2023 was $1,187,244.
Who are the executives of Mount Carmel Housing Inc and what are their salaries?
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Mount Carmel Housing Inc?
Mount Carmel Housing Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Mount Carmel Housing Inc
Mount Carmel Housing Inc is dedicated to providing elderly and handicapped individuals with housing facilities and services tailored to meet their unique needs. The organization's mission is to offer housing and support that caters to the physical, social, and psychological requirements of these individuals. By operating a 75-unit apartment building, specifically designed for qualified elderly and handicapped individuals, Mount Carmel Housing Inc aims to create a living space that fosters comfort and independence. This approach allows the residents to maintain their dignity while receiving the care they require.
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Impact
October, 2024
Mount Carmel Housing Inc plays a pivotal role in enhancing the quality of life for elderly and handicapped individuals in Worcester, MA. By operating a 75-unit apartment building tailored to their specific needs, it provides secure and accessible housing options that foster independence and dignity.
In addition to housing, Mount Carmel Housing Inc extends crucial services designed to address the physical, social, and psychological needs of its residents. This holistic approach not only offers shelter but also cultivates a supportive community, ensuring that residents have access to resources and companionship. The impact of this organization is profound, as it directly contributes to improved well-being and a greater sense of belonging among some of the most vulnerable members of the community.
This information is meant to be a general summary of Mount Carmel Housing 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 2023.
- Investment Income: $6,698
- Program Service Revenue: $1,179,582
- Gross Receipts: $1,187,244
Assets and Liabilities:
- Total Assets: $2,868,855
- Total Liabilities: $5,127,210
- Net Assets: -$2,258,355
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,179,582
Organization Details
Founding Year
1987
Phone
(508) 752-8022Principal Officer
Msgr F Stephen Pedone
Main Address
50 SHREWSBURY STREET, WORCESTER, MA, 01604
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