Overview
What is Overmont Corporation?
Overmont Corporation, located in Philadelphia, Pennsylvania, is primarily known for its ownership of the Meta Christy House (MCH), an apartment building. This housing complex is primarily utilized by students enrolled at the Philadelphia College of Osteopathic Medicine (PCOM). Overmont's mission, in essence, is to facilitate comfortable living arrangements for these students, contributing to their educational journey.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (64%)
Overmont Corporation has received a two-star rating from Charity Navigator, indicating that the organization has significant room for improvement in its accountability and financial practices. While the organization scores well in areas such as material diversion of assets and the presence of key financial policies, it lacks independent board members, which raises concerns about governance and oversight.
The organization demonstrates a strong commitment to program-related expenses, with a program expense ratio of 73.48%, suggesting that a substantial portion of its funds is directed towards its mission. However, the high liabilities to assets ratio of 92.34% may indicate financial risk, which could impact its sustainability and operational effectiveness in the long term.
Additionally, the absence of its website link on tax forms and missing financial statements on its website point to transparency issues, which are essential for building trust with donors and the public. Overall, while Overmont Corporation shows strengths in specific areas, the lack of independent governance and transparency could hinder its credibility and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Overmont Corporation legitimate?
Overmont Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Overmont 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: $0
For more financial information, click here
What is the mission statement of Overmont Corporation?
Overmont Corporation's primary mission is centered around providing housing for students. Specifically, it caters to students attending the Philadelphia College of Osteopathic Medicine (PCOM). Overmont owns an apartment building, known as the Meta Christy House (MCH), which serves as the primary residence for many PCOM students. It's worth noting that PCOM plays a role in the operation of this housing facility. The corporation's mission, in essence, contributes to the convenience and accommodation of PCOM students during their studies.
Who is the CEO of Overmont Corporation?
Peter Doulis is the President of Overmont Corporation.
What is the revenue of Overmont Corporation?
Overmont Corporation's revenue in 2023 was $2,237,351.
Who are the executives of Overmont Corporation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $791,769
- Other: $63,130
- Compensation: $0
- Related: $601,820
- Other: $75,638
- Compensation: $0
- Related: $458,387
- Other: $65,107
Where can I find the form 990 for Overmont Corporation?
Overmont Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Overmont Corporation
Overmont Corporation, a notable entity, is dedicated to providing housing solutions. Its primary focus is on catering to students enrolled at the Philadelphia College of Osteopathic Medicine (PCOM). Overmont's mission is realized through the ownership of an apartment building, referred to as the Meta Christy House (MCH). This building primarily serves as a residence for PCOM students, with PCOM itself managing the operations. Overmont Corporation's role in this venture is to ensure that PCOM students have access to suitable and convenient housing during their academic journey.
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Impact
October, 2024
Overmont Corporation has a significant impact on the local community by providing essential housing for students attending the Philadelphia College of Osteopathic Medicine (PCOM). It owns and operates the Meta Christy House (MCH), an apartment building that serves as a home primarily for PCOM students. This provision of housing alleviates some of the burdens associated with finding suitable accommodation, enabling students to focus on their rigorous academic commitments. By facilitating a stable living environment, Overmont helps to foster a supportive community that enhances the educational experience for those pursuing healthcare careers in Philadelphia.
This information is meant to be a general summary of Overmont 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 2023.
- Investment Income: $1,852
- Program Service Revenue: $2,221,612
- Gross Receipts: $2,237,351
Assets and Liabilities:
- Total Assets: $39,985,664
- Total Liabilities: $36,924,942
- Net Assets: $3,060,722
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT HOUSING
Revenue
$2,221,612
Organization Details
Founding Year
1965
Phone
(215) 871-6901Principal Officer
Peter Doulis
Main Address
4001 MONUMENT ROAD, PHILADELPHIA, PA, 19131
NTEE Category
Code: L20Z - Housing
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