Overview
What is Saco Housing Development Corporation?
Saco Housing Development Corporation, located in Portland, Maine, serves as a dedicated nonprofit organization. Its primary mission is to provide affordable housing solutions for the elderly and families within the community, ensuring that they have access to secure and comfortable living spaces. This mission is carried out through various initiatives, all centered around the provision of low-income housing. The corporation upholds this commitment with unwavering dedication, contributing positively to the well-being of its community members.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
Saco Housing Development Corporation has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The organization boasts a high level of oversight, with a fully independent board of 18 members and no material diversion of assets reported. Additionally, the charity excels in financial transparency, having a program expense ratio of 100%, which suggests that all resources are directed towards its mission.
The organization's governance is supported by comprehensive policies, including conflict of interest and whistleblower policies, contributing to its strong accountability framework. The documentation practices, such as maintaining board meeting minutes and distributing tax forms to board members prior to filing, further enhance its operational integrity.
While Saco Housing Development Corporation demonstrates admirable financial health and governance standards, the overall rating of 82% suggests that there may be areas for improvement. Stakeholders might benefit from increased transparency in program outcomes or broader impact reporting to better assess the effectiveness of their initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Saco Housing Development Corporation legitimate?
Saco Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Saco Housing Development 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.
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What is the mission statement of Saco Housing Development Corporation?
The Saco Housing Development Corporation is committed to providing low-income housing solutions for both the elderly and families. Their mission encompasses offering suitable living spaces for individuals who may be financially disadvantaged, ensuring they can reside in a comfortable and secure environment. This organization's primary goal is to contribute positively to the well-being of these vulnerable groups by addressing their housing needs effectively.
Who is the CEO of Saco Housing Development Corporation?
Eric Boucher is the Director of Saco Housing Development Corporation. The CEO's salary of Saco Housing Development Corporation is $0 and their total compensation is $226,435.
What is the revenue of Saco Housing Development Corporation?
Saco Housing Development Corporation's revenue in 2022 was $2,261,407.
Who are the executives of Saco Housing Development Corporation and what are their salaries?
Here are 23 key members and their salaries (Saco Housing Development Corporation's CEO's salary is $0 and their total compensation is $226,435):
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- Related: $238,190
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- Related: $185,435
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- Related: $157,819
- Other: $27,000
Where can I find the form 990 for Saco Housing Development Corporation?
Saco Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Saco Housing Development Corporation
Saco Housing Development Corporation is dedicated to providing low-income housing solutions for both elderly individuals and families. This nonprofit organization's mission is centered around the provision of suitable living spaces for those in need, ensuring they can maintain a dignified living standard. By offering housing options, Saco Housing Development Corporation aims to contribute positively to the community, providing a sense of security and stability for its residents.
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Impact
October, 2024
Saco Housing Development Corporation plays a crucial role in addressing the housing needs of low-income families and elderly individuals in Portland, ME. By providing affordable housing options, the organization helps enhance the quality of life for these vulnerable populations. Their work ensures that families have stable living conditions, which is essential for their overall well-being and financial security. The availability of low-income housing also contributes to community stability, allowing residents to thrive in an environment where they can access essential services and support. Overall, Saco Housing Development Corporation's efforts to supply affordable housing directly impact the health, safety, and dignity of those it serves.
This information is meant to be a general summary of Saco Housing Development 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 2022.
- Investment Income: $342,826
- Program Service Revenue: $214,366
- Gross Receipts: $3,253,197
Assets and Liabilities:
- Total Assets: $7,115,357
- Total Liabilities: $5,348,188
- Net Assets: $1,767,169
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$211,228
MISCELLANEOUS
Revenue
$3,138
Organization Details
Founding Year
1973
Phone
(207) 553-7777Principal Officer
Eric Boucher
Main Address
307 CUMBERLAND AVENUE, PORTLAND, ME, 04101
NTEE Category
Code: L20 - Housing
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