Overview
What is Summer Street Housing Preservation Inc?
Summer Street Housing Preservation Inc is a nonprofit organization located at 46 Summer Street, Rockland, ME 04841. Their primary mission is to develop, own, and manage residential subsidized housing units for qualified elderly and disabled individuals. They offer affordable housing to 59 low-income seniors and individuals with disabilities, who might otherwise struggle to find such accommodations. The congregate setting of this housing fosters a sense of community, enabling numerous opportunities for community activities and social interaction.
What are the reviews and ratings of this charity?
Charity Navigator rating: 75% (Three-Star out of Four Star rating)
Summer Street Housing Preservation Inc has achieved a 75% overall score, reflecting a strong commitment to accountability and financial transparency. This rating is based entirely on their performance in the Accountability & Finance category, where they excel in several key areas, such as having a fully independent board and strong oversight in their financial statements.
The organization scored exceptionally well in maintaining a conflict of interest policy, whistleblower policy, and documenting board meeting minutes, indicating a robust governance structure. Additionally, they report a 100% program expense ratio, signifying that all funds are directed towards their mission.
However, it's important to note that the organization has a liabilities-to-assets ratio of 109.49%, which could raise concerns regarding their financial structure and sustainability. This aspect may require further attention to ensure long-term operational effectiveness. Overall, while Summer Street Housing Preservation Inc demonstrates strong governance and financial practices, potential donors and supporters should consider their financial stability as well.
This AI summary has been generated from information found on Charity Navigator.
Is Summer Street Housing Preservation Inc legitimate?
Summer Street Housing Preservation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Summer Street Housing Preservation 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: $27,001
For more financial information, click here
What is the mission statement of Summer Street Housing Preservation Inc?
Summer Street Housing Preservation Inc is dedicated to developing, owning, and managing residential subsidized housing units for qualified elderly and disabled individuals. Their mission is to provide affordable housing options for those who might struggle to find such accommodations otherwise. The congregate setting of these housing units offers numerous opportunities for community activities and social interaction, thereby enriching the lives of its residents.
Who is the CEO of Summer Street Housing Preservation Inc?
Elisabeth Schuh is the President of Summer Street Housing Preservation Inc.
What is the revenue of Summer Street Housing Preservation Inc?
Summer Street Housing Preservation Inc's revenue in 2022 was $762,279.
Who are the executives of Summer Street Housing Preservation Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $90,185
- Other: $0
Where can I find the form 990 for Summer Street Housing Preservation Inc?
Summer Street Housing Preservation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Summer Street Housing Preservation Inc
Summer Street Housing Preservation Inc, a nonprofit organization, is dedicated to a significant mission. Their primary objective is to develop, own, and manage residential subsidized housing units for qualified elderly and disabled individuals. This mission is crucial as it addresses the housing needs of a population often facing challenges in finding affordable living spaces. By providing these housing units, Summer Street Housing Preservation Inc offers a congregate setting, fostering an environment that encourages community activities and social interaction. This setting not only provides a home but also offers opportunities for individuals to engage with their peers, promoting a sense of belonging and well-being.
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Impact
October, 2024
Summer Street Housing Preservation Inc has made a significant impact by providing affordable housing for 59 low-income seniors and individuals with disabilities in Rockland, ME. By developing, owning, and managing subsidized housing units, the organization addresses a critical need in the community for accessible living spaces. This initiative not only alleviates the difficulties these individuals face in finding suitable housing but also fosters a sense of belonging through a congregate living environment. Residents benefit from numerous community activities and social interactions, enhancing their quality of life and promoting well-being. The organization's commitment to serving these vulnerable populations plays a vital role in creating a supportive and inclusive community.
This information is meant to be a general summary of Summer Street Housing Preservation 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: $3,001
- Program Service Revenue: $242,544
- Gross Receipts: $762,279
Assets and Liabilities:
- Total Assets: $1,950,115
- Total Liabilities: $2,153,128
- Net Assets: -$203,013
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$233,963
SERVICE INCOME
Revenue
$6,405
CONGREGATE HSG SERV IN
Revenue
$2,176
Organization Details
Founding Year
1992
Phone
(207) 596-6477Principal Officer
Elisabeth Schuh
Main Address
46 SUMMER STREET, ROCKLAND, ME, 04841
NTEE Category
Code: P75Z - Human services
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