Overview
What is Sayreville Housing For Seniors Corporation?
Sayreville Housing For Seniors Corporation is a nonprofit organization based in Sayreville, New Jersey, led by Kenneth Olchaskey. Their primary mission is to offer affordable housing solutions to individuals and families with low to moderate incomes, achieving this through housing rehabilitation initiatives. The organization aims to contribute positively to the community by addressing the housing needs of its residents, thereby promoting a stable living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Sayreville Housing For Seniors Corporation has received a two-star rating from Charity Navigator, reflecting a need for improvement. With an overall score of 73%, the organization has demonstrated strong governance in certain areas, such as having a fully independent board and effective oversight of financial statements. Their program expense ratio is notably high at 100%, indicating that all funds are directed towards their programs.
However, the nonprofit faces significant challenges in transparency and compliance, highlighted by missing essential policies such as conflict of interest and whistleblower protections. Additionally, they have not posted their website on tax forms or made their tax documents available online, which detracts from their accountability score. The liabilities to assets ratio suggests potential financial risks, which may concern stakeholders.
Overall, while Sayreville Housing For Seniors Corporation exhibits strengths in governance and program funding, they must address the gaps in transparency and policy adherence to enhance their credibility and effectiveness in serving seniors.
This AI summary has been generated from information found on Charity Navigator.
Is Sayreville Housing For Seniors Corporation legitimate?
Sayreville Housing For Seniors Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sayreville Housing For Seniors Corporation 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: $62,315
For more financial information, click here
What is the mission statement of Sayreville Housing For Seniors Corporation?
The Sayreville Housing For Seniors Corporation is dedicated to providing affordable housing options for individuals and families with modest income levels. Their mission is to enhance living situations by facilitating housing rehabilitation projects. The organization's primary objective is to make housing more accessible and affordable, thereby contributing to the well-being of its community members.
Who is the CEO of Sayreville Housing For Seniors Corporation?
Kenneth Olchaskey is the President of Sayreville Housing For Seniors Corporation.
What is the revenue of Sayreville Housing For Seniors Corporation?
Sayreville Housing For Seniors Corporation's revenue in 2022 was $1,089,381.
Who are the executives of Sayreville Housing For Seniors Corporation and what are their salaries?
The average compensation at Sayreville Housing For Seniors Corporation during 2022 was $62,315. There is 1 employee at Sayreville Housing For Seniors Corporation.
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Where can I find the form 990 for Sayreville Housing For Seniors Corporation?
Sayreville Housing For Seniors Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Sayreville Housing For Seniors Corporation
Sayreville Housing For Seniors Corporation is committed to providing affordable housing solutions for individuals and families with modest to low incomes. This nonprofit organization, led by Kenneth Olchaskey, focuses on rehabilitating existing housing structures to make them accessible and affordable for this demographic. By doing so, the corporation aims to contribute to a more inclusive and equitable housing market, ensuring that everyone has a safe and suitable place to call home, regardless of their income level.
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Impact
October, 2024
Sayreville Housing For Seniors Corporation plays a crucial role in enhancing the well-being of low and moderate-income individuals and families by providing access to affordable housing. Through dedicated housing rehabilitation efforts, the organization helps ensure that residents can secure safe and stable living conditions. This is particularly significant in communities where affordable housing options are limited, enabling families to maintain housing stability, reduce financial stress, and improve their quality of life.
Under the guidance of Kenneth Olchaskey, the Corporation fosters an environment where senior citizens and other residents can thrive, promoting community engagement and enhancing overall social welfare. By addressing housing challenges, Sayreville Housing For Seniors Corporation not only supports individual households but also contributes to the economic and social fabric of Sayreville, NJ, fostering a more equitable community for all.
This information is meant to be a general summary of Sayreville Housing For Seniors Corporation. 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: $768
- Program Service Revenue: $1,088,613
- Gross Receipts: $1,089,381
Assets and Liabilities:
- Total Assets: $2,381,965
- Total Liabilities: $1,601,691
- Net Assets: $780,274
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,088,613
Organization Details
Founding Year
1992
Phone
(908) 721-8400Principal Officer
Kenneth Olchaskey
Main Address
650 WASHINGTON ROAD, SAYREVILLE, NJ, 08872
NTEE Category
Code: P20Z - Human services
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