Overview
What is Hancock County Homes Foundation?
The Hancock County Homes Foundation is a nonprofit organization situated in Ellsworth, Maine, specifically at 25 Tweedie Lane. Its primary mission is to provide affordable housing for elderly and disabled individuals who fall under the category of having very low to low incomes. The foundation achieves this by managing 86 housing units, with the subsidies for these units being funded by Rural Development, taking into account the tenant's income levels. With a team of five dedicated individuals, the Hancock County Homes Foundation strives to contribute positively to the local community by accommodating those in need, thereby enhancing their quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (50%)
Hancock County Homes Foundation has received a low rating of 50% from Charity Navigator, resulting in a One-Star designation. This rating suggests significant concerns regarding the organization's accountability and financial practices. While they excel in board independence and program expense ratio, their performance is hindered by a lack of transparency, with critical financial statements missing and various governance policies not in place.
The foundation has shown strength in maintaining a fully independent board, which is a positive indicator of good governance. Additionally, their high program expense ratio indicates a strong focus on their mission-related activities, with nearly 90% of expenses directed towards programs. However, the absence of essential financial documentation and policies raises questions about oversight and operational integrity.
Overall, while Hancock County Homes Foundation demonstrates commitment to its programs, the lack of financial transparency and governance measures as reflected in their low score highlights areas that need immediate improvement to better serve their mission and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Hancock County Homes Foundation legitimate?
Hancock County Homes Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hancock County Homes Foundation 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: $153,183
For more financial information, click here
What is the mission statement of Hancock County Homes Foundation?
The Hancock County Homes Foundation is dedicated to providing housing for elderly and disabled individuals with very low to low incomes. Their mission is reflected in the provision of 86 housing units, which are subsidized based on the tenants' income levels, thanks to funding from Rural Development. The foundation's primary objective is to ensure that these vulnerable groups have access to comfortable and affordable housing, contributing to their overall well-being.
Who is the CEO of Hancock County Homes Foundation?
Jo Cooper is the President of Hancock County Homes Foundation.
What is the revenue of Hancock County Homes Foundation?
Hancock County Homes Foundation's revenue in 2022 was $695,890.
Who are the executives of Hancock County Homes Foundation and what are their salaries?
The average compensation at Hancock County Homes Foundation during 2022 was $30,637. There are 5 employees at Hancock County Homes Foundation.
Here are 6 key members and their salaries:
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- Other: $0
Where can I find the form 990 for Hancock County Homes Foundation?
Hancock County Homes Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hancock County Homes Foundation
The Hancock County Homes Foundation is dedicated to providing housing solutions for elderly and disabled individuals with very low to low incomes. Their mission is centered around offering a total of 86 housing units, which are subsidized based on the tenants' income levels, ensuring affordability. This foundation plays a significant role in providing a safe and comfortable living environment for this vulnerable population, enabling them to maintain their independence and dignity.
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Impact
July, 2024
Hancock County Homes Foundation's impact is evident in providing housing solutions for elderly and disabled individuals with very low to low incomes in Ellsworth, ME. Through its 86 subsidized housing units, the organization offers a vital support system to those in need, ensuring that vulnerable members of the community have a safe and affordable place to call home. By focusing on this specific demographic and income bracket, the foundation plays a crucial role in addressing housing insecurity and improving the quality of life for those it serves.
This information is meant to be a general summary of Hancock County Homes Foundation. 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: $91
- Program Service Revenue: $688,913
- Gross Receipts: $695,890
Assets and Liabilities:
- Total Assets: $1,528,547
- Total Liabilities: $2,508,584
- Net Assets: -$980,037
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FMHA RENT SUBSIDY
Revenue
$387,926
RENTAL INCOME
Revenue
$300,987
Organization Details
Founding Year
1971
Phone
(207) 667-2651Principal Officer
Jo Cooper
Main Address
25 TWEEDIE LANE, ELLSWORTH, ME, 04605
NTEE Category
Code: L22 - Housing
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