Overview
What is Wollaston Lutheran Church Apts Inc?
Wollaston Lutheran Church Apts Inc, located at 540 Hancock Street, Quincy, MA 02170, is a nonprofit organization that plays a crucial role in providing dignified assisted living services and affordable housing for 152 low-income elderly and handicapped individuals or couples. Overseen by the U.S. Department of Housing & Urban Development, this organization's primary mission is to offer quality housing and related services, ensuring dignity and comfort for its residents. Wollaston Lutheran Church Apts Inc also supports and manages funds for its nonprofit member institutions, contributing to a broader network of community support.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning it a Two-Star out of Four Star rating.
Wollaston Lutheran Church Apts Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The organization has a good score of 88.78% for program expense ratio, suggesting that a significant portion of its resources is directed towards its mission-driven activities. However, the board's independence is notably low, with only 44% of board members being independent, which impacts its overall governance score.
The nonprofit demonstrates strong policies in place, such as a conflict of interest policy and a whistleblower policy, both of which received full marks. Additionally, there are no reported material diversions of assets, and the financial oversight committee has performed well. However, there are key areas where improvement is needed, such as the absence of a website listed on tax forms and missing tax forms on the nonprofit's website.
Financially, the organization has a high liabilities to assets ratio of 88.19%, suggesting potential challenges in managing its debt or obligations. Overall, while Wollaston Lutheran Church Apts Inc shows commitment to its programs, it faces significant governance and transparency issues that could affect its long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Wollaston Lutheran Church Apts Inc legitimate?
Wollaston Lutheran Church Apts Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wollaston Lutheran Church Apts 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
Professional Fundraising Fees: $0
Other Salaries and Wages: $873,915
For more financial information, click here
What is the mission statement of Wollaston Lutheran Church Apts Inc?
Wollaston Lutheran Church Apts Inc is an organization that supports and holds funds for its nonprofit member institutions. Its primary mission is to provide quality, dignified housing and related services to the low-income elderly and handicapped individuals. Under its purview, Fenno House offers assisted living services and low-income housing specifically designed for handicapped and elderly individuals, accommodating a total of 152 residents under the supervision of the U.S. Department of Housing & Urban Development.
Who is the CEO of Wollaston Lutheran Church Apts Inc?
Timothy Wismar is the President/Treasurer of Wollaston Lutheran Church Apts Inc.
What is the revenue of Wollaston Lutheran Church Apts Inc?
Wollaston Lutheran Church Apts Inc's revenue in 2022 was $3,293,575.
Who are the executives of Wollaston Lutheran Church Apts Inc and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $242,571
- Other: $54,419
- Compensation: $0
- Related: $70,843
- Other: $12,615
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Wollaston Lutheran Church Apts Inc?
Wollaston Lutheran Church Apts Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wollaston Lutheran Church Apts Inc
Wollaston Lutheran Church Apts Inc is an organization that plays a crucial role in supporting its nonprofit member institutions. Its primary mission is to provide quality, dignified housing and other related services to the low-income elderly and handicapped individuals. This mission is carried out through Fenno House, which offers assisted living services and low-income housing for 152 individuals or couples under the supervision of the U.S. Department of Housing & Urban Development. The organization's goal is to ensure that these vulnerable populations live in a dignified environment, receiving the care they need to lead fulfilling lives. Wollaston Lutheran Church Apts Inc's dedication to providing housing and services to the elderly and handicapped demonstrates its commitment to making a positive impact in the lives of those in need.
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Impact
October, 2024
Wollaston Lutheran Church Apartments Inc significantly impacts the Quincy, MA community by providing dignified and affordable housing solutions for low-income elderly and handicapped individuals. Through Fenno House, the organization offers assisted living services to 152 individuals and couples, ensuring they have access to essential support and a comfortable living environment. By aligning its mission with the oversight of the U.S. Department of Housing & Urban Development, Wollaston Lutheran Church Apartments Inc actively contributes to improving the quality of life for some of society's most vulnerable members. Their commitment to providing quality housing and related services fosters a sense of dignity, community, and support among residents, ultimately enhancing the well-being of the demographic they serve.
This information is meant to be a general summary of Wollaston Lutheran Church Apts 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: $1,096
- Program Service Revenue: $3,292,479
- Gross Receipts: $3,293,575
Assets and Liabilities:
- Total Assets: $20,858,741
- Total Liabilities: $18,396,727
- Net Assets: $2,462,014
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,632,158
A/L SERVICES
Revenue
$645,781
LAUNDRY REVENUE
Revenue
$10,932
OTHER TENANT CHARGES
Revenue
$3,608
Organization Details
Founding Year
1960
Phone
(617) 773-5875Principal Officer
Timothy Wismar
Main Address
540 HANCOCK STREET, QUINCY, MA, 02170
NTEE Category
Code: X20 - Religion related
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