Overview
What is Casa Farnese Inc?
Casa Farnese Inc, located in Philadelphia, Pennsylvania, is a nonprofit organization dedicated to providing affordable housing solutions for senior citizens. Adhering to HUD guidelines, the organization manages 288 units, offering apartment rentals to cater to the housing needs of this demographic. With a staff of 11 individuals, Casa Farnese Inc plays a significant role in ensuring senior citizens in the area have access to safe and suitable living arrangements, contributing to their overall well-being.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 85% (Three-Star out of Four Star rating)
Casa Farnese Inc has achieved a solid overall score of 85%, primarily reflecting its strong performance in accountability and finance. The organization boasts a fully independent board, with all members meeting the criteria for independence, which enhances transparency and governance. Its financial oversight is commendable, with a high program expense ratio indicating that the majority of its funds are directed towards its mission-driven activities.
The nonprofit has implemented several key policies, such as conflict of interest and whistleblower policies, which contribute to its robust accountability framework. The absence of any material diversion of assets showcases its integrity in managing resources. However, the organization has a liabilities to assets ratio of 61.93%, which may raise some concerns regarding financial stability and future sustainability.
Overall, while Casa Farnese Inc demonstrates strong governance and financial accountability, potential donors and stakeholders may want to consider its financial health in relation to liabilities. The charity's effective use of funds for program expenses highlights its commitment to its mission, making it a trustworthy option for support.
This AI summary has been generated from information found on Charity Navigator.
Is Casa Farnese Inc legitimate?
Casa Farnese Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Casa Farnese 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
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Other Salaries and Wages: $542,563
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What is the mission statement of Casa Farnese Inc?
Casa Farnese Inc's mission revolves around providing housing solutions. Specifically, they focus on offering low to moderate income residences for senior citizens. They adhere to HUD guidelines in their apartment rental operations, ensuring that a significant number of 288 elderly individuals have access to suitable living spaces. The organization's mission aligns with the goal of providing a comfortable living environment for senior citizens who may have limited financial resources. By doing so, Casa Farnese Inc contributes to the well-being of this specific demographic, enabling them to maintain a dignified lifestyle.
Who is the CEO of Casa Farnese Inc?
Joseph H Jacovini is the President of Casa Farnese Inc.
What is the revenue of Casa Farnese Inc?
Casa Farnese Inc's revenue in 2022 was $4,183,699.
Who are the executives of Casa Farnese Inc and what are their salaries?
The average compensation at Casa Farnese Inc during 2022 was $49,324. There are 11 employees and 18 volunteers at Casa Farnese Inc.
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Where can I find the form 990 for Casa Farnese Inc?
Casa Farnese Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Casa Farnese Inc
Casa Farnese Inc, a nonprofit organization, is dedicated to providing low and moderate income housing for senior citizens. Following the guidelines set by the HUD, Casa Farnese offers apartment rentals to 288 elderly individuals, ensuring they have a suitable living environment. The mission of Casa Farnese is to make a positive impact on the lives of senior citizens by offering them affordable housing options, thereby contributing to their overall well-being and quality of life.
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Impact
October, 2024
Casa Farnese Inc plays a significant role in addressing the housing needs of senior citizens in Philadelphia by providing low to moderate income housing through apartment rentals. By catering specifically to the elderly population, the organization ensures that 288 seniors have access to affordable living options that adhere to HUD guidelines. This support not only assists in meeting the basic housing needs of vulnerable community members, but also promotes stability and quality of life for seniors, enabling them to reside in a safe and supportive environment. The impact extends beyond mere accommodation; it fosters a sense of community and belonging among older adults, enhancing their well-being and overall life satisfaction.
This information is meant to be a general summary of Casa Farnese 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: $313
- Program Service Revenue: $4,045,056
- Gross Receipts: $4,183,699
Assets and Liabilities:
- Total Assets: $16,763,275
- Total Liabilities: $10,381,894
- Net Assets: $6,381,381
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$4,045,056
Organization Details
Founding Year
1962
Phone
(215) 735-3858Principal Officer
Joseph H Jacovini
Main Address
1300 LOMBARD STREET, PHILADELPHIA, PA, 19147
NTEE Category
Code: L22Z - Housing
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