Overview
What is Mattapan Center For Life C/O Maloney Properties Inc?
Mattapan Center For Life C/O Maloney Properties Inc is a nonprofit organization that specializes in providing housing solutions for low-income elderly individuals. Situated under the auspices of the U.S. Department of Housing and Urban Development, the organization operates with 45 subsidized units, funded through the Section 8 Housing Assistance Payments Program. This program aims to ensure affordable housing for its targeted demographic. The mission of Mattapan Center for Life is to serve as a shelter and a supportive living space for the elderly, providing them with a secure environment and the necessary assistance to maintain a comfortable lifestyle.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, Two-Star out of Four Star rating.
The Mattapan Center For Life has received a 71% rating from Charity Navigator, indicating a moderate level of accountability and financial health. The organization boasts a fully independent board of directors and has performed well in areas such as financial oversight, evidenced by a strong audit and oversight committee. Additionally, the high program expense ratio of 97.62% suggests that the majority of their expenditures are directed towards their core mission.
However, the nonprofit has notable areas needing improvement. The absence of a whistleblower policy and a document retention and destruction policy are significant gaps in governance. Furthermore, the organization's liabilities to assets ratio of 228.39% raises concerns about financial sustainability, as this indicates that liabilities far exceed assets, which could impact future operations.
Overall, while the Mattapan Center For Life demonstrates strong programmatic focus and governance in certain aspects, the financial challenges and missing policies may affect stakeholder confidence and the organization's long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Mattapan Center For Life C/O Maloney Properties Inc legitimate?
Mattapan Center For Life C/O Maloney Properties Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mattapan Center For Life C/O Maloney Properties 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.
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What is the mission statement of Mattapan Center For Life C/O Maloney Properties Inc?
Mattapan Center for Life, affiliated with Maloney Properties Inc., is dedicated to serving the housing needs of the low-income elderly population. This organization provides 45 units, financially supported by the U.S. Department of Housing and Urban Development's Section 8 Housing Assistance Payments Program. Its primary mission is to offer suitable housing accommodations for this specific demographic.
Who is the CEO of Mattapan Center For Life C/O Maloney Properties Inc?
John Wells is the President of Mattapan Center For Life C/O Maloney Properties Inc.
What is the revenue of Mattapan Center For Life C/O Maloney Properties Inc?
Mattapan Center For Life C/O Maloney Properties Inc's revenue in 2022 was $599,359.
Who are the executives of Mattapan Center For Life C/O Maloney Properties Inc and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Mattapan Center For Life C/O Maloney Properties Inc?
Mattapan Center For Life C/O Maloney Properties Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mattapan Center For Life C/O Maloney Properties Inc
Mattapan Center for Life, overseen by Maloney Properties Inc., is dedicated to serving the housing needs of low-income elderly individuals. This nonprofit organization receives support from the U.S. Department of Housing and Urban Development, specifically through its Section 8 Housing Assistance Payments Program. The mission of Mattapan Center for Life is crystal clear: it aims to provide a suitable living environment for this particular demographic, ensuring they have access to decent and affordable housing. This commitment to supporting the elderly community is a testament to the organization's dedication to social welfare and its belief in the importance of a safe and comfortable living space for all individuals, regardless of their income level.
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Impact
July, 2024
Mattapan Center for Life, operated by Maloney Properties Inc, has a significant impact on the low-income elderly individuals it serves by providing them with much-needed affordable housing. Through its 45 subsidized units under the Section 8 Housing Assistance Payments Program, this organization plays a crucial role in addressing housing insecurity among the elderly population in Massachusetts. By ensuring that these individuals have access to safe and affordable housing, Mattapan Center for Life contributes to their overall well-being and quality of life. It serves as a beacon of support and stability for these vulnerable individuals, giving them a place to call home and a sense of security in their later years.
This information is meant to be a general summary of Mattapan Center For Life C/O Maloney Properties 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: $80
- Program Service Revenue: $576,040
- Gross Receipts: $599,359
Assets and Liabilities:
- Total Assets: $1,880,503
- Total Liabilities: $4,066,773
- Net Assets: -$2,186,270
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$576,040
Organization Details
Founding Year
1995
Phone
(781) 943-0200Principal Officer
John Wells
Main Address
27 MICA LANE, WELLESLEY, MA, 02481
NTEE Category
Code: L21 - Housing
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