Overview
What is Webster Housing For The Elderly Inc?
Webster Housing For The Elderly Inc is a nonprofit organization situated in Worcester, Massachusetts, specifically at 191 May Street. Their primary objective is to provide affordable residential housing for the elderly population residing in Webster, Massachusetts. To achieve this goal, they engage in activities such as acquiring, constructing, rehabilitating, and operating a total of 70 housing units designed specifically for elderly individuals. By doing so, they aim to contribute positively to the community by providing a suitable living environment for the elderly, ensuring they maintain a comfortable and secure living situation.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71% (Two-Star out of Four Stars)
Webster Housing For The Elderly Inc has received a 71% rating from Charity Navigator, which indicates a need for improvement in certain areas of accountability and finance. The organization holds a strong score for its governance structure, with a fully independent board and robust financial oversight mechanisms. However, the lack of a whistleblower policy, document retention policy, and transparency regarding its tax forms are notable gaps.
The charity demonstrates a commendable program expense ratio of 90.52%, reflecting a commitment to utilizing resources effectively for its mission. This suggests that a substantial portion of its budget is directed towards services for the elderly, which is a positive indicator for potential donors. However, the high liabilities to assets ratio of 171.20% raises concerns about financial stability and could impact long-term sustainability.
Overall, while Webster Housing For The Elderly Inc has strengths in governance and program spending, improvements are necessary in compliance and transparency to enhance its credibility and operational effectiveness. Addressing these areas could lead to a stronger rating and increased trust from stakeholders and the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Webster Housing For The Elderly Inc legitimate?
Webster Housing For The Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Webster Housing For The Elderly 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 Webster Housing For The Elderly Inc?
Webster Housing for the Elderly Inc. is committed to providing affordable residential housing for the elderly. Their mission is to acquire, construct, rehabilitate, and operate such housing units to cater to the needs of elderly individuals. This organization strives to make residential housing accessible and affordable, ensuring that elderly people have a suitable living environment. Their primary objective is to provide a comfortable and secure living space for the elderly, promoting their overall well-being.
Who is the CEO of Webster Housing For The Elderly Inc?
Brian Scales is the Director of Webster Housing For The Elderly Inc.
What is the revenue of Webster Housing For The Elderly Inc?
Webster Housing For The Elderly Inc's revenue in 2022 was $886,765.
Who are the executives of Webster Housing For The Elderly Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- 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 Webster Housing For The Elderly Inc?
Webster Housing For The Elderly Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Webster Housing For The Elderly Inc
Webster Housing For The Elderly Inc is dedicated to providing affordable residential housing for elderly individuals. This nonprofit organization's mission is centered around acquiring, constructing, rehabilitating, and operating 70 units of affordable housing specifically designed for the elderly population. By offering such housing, Webster Housing For The Elderly Inc aims to contribute to the well-being and comfort of elderly people, providing them with a suitable living environment. The organization's mission is instrumental in addressing the housing needs of the elderly, ensuring that they can maintain their independence and dignity in their later years.
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Impact
October, 2024
Webster Housing For The Elderly Inc significantly enhances the quality of life for senior citizens in Webster, Massachusetts, by offering affordable residential housing tailored to their needs. By acquiring, constructing, and rehabilitating 70 housing units, the organization ensures that elderly residents have access to safe, comfortable, and supportive living environments. This initiative not only addresses the critical shortage of affordable housing for seniors but also fosters a sense of community and belonging among residents. The availability of such housing contributes to the overall well-being of the elderly population, enabling them to live independently while providing necessary resources and services that promote healthy aging within the community.
This information is meant to be a general summary of Webster Housing For The Elderly 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: -$10,406
- Program Service Revenue: $314,572
- Gross Receipts: $897,262
Assets and Liabilities:
- Total Assets: $1,900,701
- Total Liabilities: $3,254,122
- Net Assets: -$1,353,421
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$314,572
Organization Details
Founding Year
1987
Phone
(978) 630-6600Principal Officer
Brian Scales
Main Address
191 MAY STREET, WORCESTER, MA, 01602
NTEE Category
Code: L21Z - Housing
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