Overview
What is Congregational Retirement Homes Ii Inc?
Congregational Retirement Homes Ii Inc is a nonprofit organization located at 200 West Foster Street, Melrose, Massachusetts. The primary mission of this organization is to provide retirement housing for individuals with low to middle income, operating under the HUD 202/Section 8 housing programs. All expenses incurred by Congregational Retirement Homes Ii Inc are solely dedicated to managing and operating this retirement home, ensuring a comfortable living environment for its residents.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 86%, Three-Star out of Four Star rating.
Congregational Retirement Homes II Inc has received a solid Three-Star rating from Charity Navigator, indicating a strong level of accountability and financial management. The charity's overall score is solely based on its Accountability & Finance score, which reflects its effective governance and transparent financial practices over the most recent fiscal year, FY2023.
The organization boasts perfect scores in several key areas, including having a completely independent board and maintaining a robust oversight committee for financial statements. Additionally, there have been no reported issues of asset diversion, emphasizing its commitment to ethical practices. The high program expense ratio suggests that a significant portion of its resources is directed towards fulfilling its mission rather than administrative costs.
While the rating is commendable, it is essential for potential donors and stakeholders to consider that the score is based only on one aspect of performance. Future evaluations could benefit from a broader assessment of program impact and beneficiary feedback to ensure a comprehensive understanding of the charity’s effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Congregational Retirement Homes Ii Inc legitimate?
Congregational Retirement Homes Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Congregational Retirement Homes Ii 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:
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What is the mission statement of Congregational Retirement Homes Ii Inc?
Congregational Retirement Homes II Inc is dedicated to providing retirement housing for individuals with moderate to low income. They operate under the HUD 202/Section 8 housing programs, with all expenses solely utilized for the operation and management of this retirement home. The organization's primary mission is to make retirement living accessible and affordable for this specific income group. By doing so, Congregational Retirement Homes II Inc contributes to the well-being of its residents, ensuring they can enjoy their golden years in a comfortable and supported environment.
Who is the CEO of Congregational Retirement Homes Ii Inc?
Paul Perkins is the President & Chariman Of Th of Congregational Retirement Homes Ii Inc.
What is the revenue of Congregational Retirement Homes Ii Inc?
Congregational Retirement Homes Ii Inc's revenue in 2023 was $2,523,448.
Who are the executives of Congregational Retirement Homes Ii Inc and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for Congregational Retirement Homes Ii Inc?
Congregational Retirement Homes Ii Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Congregational Retirement Homes Ii Inc
Congregational Retirement Homes II Inc is committed to providing retirement housing for individuals with modest to moderate income. This mission is carried out under the auspices of the HUD 202/Section 8 housing programs. The organization's primary goal is to manage and operate this retirement home, ensuring that all expenditures are directly attributed to this purpose. By doing so, Congregational Retirement Homes II Inc aims to offer a comfortable living environment for its residents, catering to their needs during their retirement years.
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Impact
October, 2024
Congregational Retirement Homes II Inc plays a vital role in providing affordable retirement housing for low to middle-income individuals. By participating in the HUD 202/Section 8 housing programs, it ensures access to essential housing resources that might otherwise be unattainable for this demographic. The organization focuses solely on the operation and management of its retirement home, which allows residents to benefit from a stable and supportive living environment tailored to their financial needs.
Located in Melrose, MA, the retirement home facilitates a sense of community and belonging among its residents, addressing various aspects of aging with dignity. In doing so, Congregational Retirement Homes II Inc contributes significantly to the well-being of its residents, promoting a better quality of life for seniors who might face economic challenges. This impact extends beyond housing, fostering social engagement and support networks that are crucial for the emotional and psychological health of older adults.
This information is meant to be a general summary of Congregational Retirement Homes Ii 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 2023.
- Investment Income: $42,569
- Program Service Revenue: $2,480,879
- Gross Receipts: $2,523,448
Assets and Liabilities:
- Total Assets: $8,643,575
- Total Liabilities: $200,159
- Net Assets: $8,443,416
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE PAYM
Revenue
$1,791,389
RENTAL REVENUE
Revenue
$683,115
LAUNDRY AND VENDING
Revenue
$6,375
Organization Details
Founding Year
1972
Phone
(781) 665-6334Principal Officer
Paul Perkins
Main Address
200 WEST FOSTER STREET, MELROSE, MA, 02176
NTEE Category
Code: L21Z - Housing
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