Overview
What is Faith Haven Incorporated?
Faith Haven Incorporated is a nonprofit organization situated in Duluth, Minnesota, specifically at 4901 Grand Ave. The primary mission of Faith Haven is to offer safe and affordable housing for senior citizens who are encountering financial hardships. Individuals aged 62 or above, with an income not exceeding 80% of the local median income, are eligible for residency. The average resident income is approximately $16,141, with a majority being female (80%). Residents typically reside in the facility for an average of 7.5 years. The complex, managed under the guidelines of the US Department of Housing and Urban Development Section 236, contains 123 one-bedroom apartments spread across ten stories. Residents living on the upper floors enjoy picturesque views of Lake Superior. Amenities such as a library, beauty shop, fitness center, laundry facilities, and a general store are available on site, enhancing the overall living experience for the residents. The organization is staffed by a team of four individuals.
Official website here: www.faithhaven.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Faith Haven Incorporated has achieved an impressive score of 96%, earning a Four-Star rating from Charity Navigator, which highlights its strong performance in accountability and finance. The organization is recognized for its high level of transparency and adherence to best practices, including 100% independent board members and robust financial oversight mechanisms.
Strengths of Faith Haven include a high program expense ratio of 84.51%, indicating that a significant portion of its funds is directed toward its mission-driven programs. Additionally, the absence of material diversion of assets and the presence of comprehensive policies, such as conflict of interest and whistleblower policies, further reinforce its commitment to ethical governance.
While the organization demonstrates exceptional financial health and governance practices, the summary does not indicate any specific limitations or areas for improvement. Overall, Faith Haven appears to be a well-managed nonprofit focused on effective use of resources in its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Faith Haven Incorporated legitimate?
Faith Haven Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. Faith Haven Incorporated 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: $63,760
Professional Fundraising Fees: $0
Other Salaries and Wages: $132,982
For more financial information, click here
Official website here: www.faithhaven.net
What is the mission statement of Faith Haven Incorporated?
Faith Haven Incorporated was established with the goal of providing senior citizens, particularly those facing financial difficulties, with affordable housing. Operating under the guidelines of the US Department of Housing and Urban Development Section 236, the organization ensures that residents aged 62 or above, with an income below 80% of the local median income, can reside in their senior citizen apartment complex. The average resident income is around $16,141, and the typical resident is 74 years old, living there for approximately 7.5 years. The complex is home to 123 one-bedroom apartments, and residents on the top three floors enjoy panoramic views of Lake Superior. Residents have access to on-site amenities such as a library, beauty shop, fitness center, laundry facilities, and a general store. For qualified residents, assistance is provided in obtaining Housing Choice Vouchers to help with rent.
Official website here: www.faithhaven.net
Who is the CEO of Faith Haven Incorporated?
Monica Postelwaite is the Principal Officer of Faith Haven Incorporated.
Official website here: www.faithhaven.net
What is the revenue of Faith Haven Incorporated?
Faith Haven Incorporated's revenue in 2022 was $861,128.
Official website here: www.faithhaven.net
Who are the executives of Faith Haven Incorporated and what are their salaries?
The average compensation at Faith Haven Incorporated during 2022 was $49,186. There are 4 employees and 10 volunteers at Faith Haven Incorporated.
Here are 11 key members and their salaries:
- Compensation: $65,956
- Related: $0
- Other: $0
- Compensation: $3,975
- Related: $0
- Other: $0
- Compensation: $3,000
- Related: $0
- Other: $0
- Compensation: $2,875
- Related: $0
- Other: $0
- Compensation: $2,625
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $1,875
- Related: $0
- Other: $0
- Compensation: $1,850
- Related: $0
- Other: $0
- Compensation: $1,375
- Related: $0
- Other: $0
- Compensation: $1,250
- Related: $0
- Other: $0
- Compensation: $875
- Related: $0
- Other: $0
Official website here: www.faithhaven.net
Where can I find the form 990 for Faith Haven Incorporated?
Faith Haven Incorporated's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.faithhaven.net
Learn more at the official website: www.faithhaven.net
Mission Statement of Faith Haven Incorporated
Faith Haven Incorporated, a nonprofit organization, is dedicated to providing safe and affordable housing for senior citizens who are facing financial challenges. Operating under the guidelines of the US Department of Housing and Urban Development Section 236, Faith Haven's mission is to accommodate individuals aged 62 or older, ensuring they can reside in a comfortable environment. The residents of Faith Haven must have an income that is 80% or below the area median income, with an average annual income of $16,141.
To cater to the needs of its residents, Faith Haven provides a range of amenities, including a library, beauty shop, fitness center, laundry facilities, and a general store, all conveniently situated within the complex. Furthermore, the facility features 123 one-bedroom apartments spread across ten stories, with some top-floor residences offering breathtaking views of Lake Superior. To support those who qualify, Faith Haven's staff assists in securing Housing Choice Vouchers, which can be applied towards rent. With an average age of 74 and an average residency of 7.5 years, the majority of residents are female, with 80% of the population comprising women.
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Impact
October, 2024
Faith Haven Incorporated significantly impacts the lives of senior citizens in Duluth, MN, by providing safe and affordable housing for those aged 62 and older who are facing financial challenges. The organization operates an apartment complex that adheres to the guidelines set by the US Department of Housing and Urban Development Section 236, ensuring quality living conditions for its residents.
The facility features 123 one-bedroom apartments spread across ten stories, with the top three floors offering stunning views of Lake Superior. By maintaining an average annual resident income of $16,141, Faith Haven is dedicated to serving individuals whose incomes are at or below 80% of the area median income. This commitment is particularly vital as 80% of the residents are female, many of whom may be navigating the complexities of aging on fixed or limited incomes.
Residents benefit not only from affordable housing but also from an array of supportive amenities and services. The onsite library, beauty shop, fitness center, laundry facilities, and general store foster a sense of community and well-being among residents. Furthermore, the dedicated staff assists eligible residents in obtaining Housing Choice Vouchers to help with rent, enhancing the affordability of their living situation.
On average, residents live at Faith Haven for 7.5 years, finding a stable and nurturing environment during their senior years. By prioritizing the needs of its residents and ensuring they have access to both housing and community resources, Faith Haven Incorporated plays a crucial role in improving the quality of life for vulnerable seniors in the area.
This information is meant to be a general summary of Faith Haven Incorporated. 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: $4,961
- Program Service Revenue: $849,224
- Gross Receipts: $902,886
Assets and Liabilities:
- Total Assets: $2,125,478
- Total Liabilities: $429,962
- Net Assets: $1,695,516
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Housing
Revenue
$849,224
Organization Details
Founding Year
1968
Phone
(218) 628-2602Principal Officer
Monica Postelwaite
Main Address
4901 Grand Ave, Duluth, MN, 55807
Website
www.faithhaven.netNTEE Category
Code: L22 - Housing
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