Overview
What is Avesta Housing Management Corporation?
Avesta Housing Management Corporation is a nonprofit organization dedicated to managing low-income housing. Their primary focus includes overseeing the financial aspects of maintaining such housing, encompassing elderly and Section 8 rental programs. They play a crucial role in ensuring the viable operation of these housing units. Their mission is centered around the management of affordable living spaces, contributing to the well-being of various communities.
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 79% (Three-Star out of Four Star rating)**
Avesta Housing Management Corporation has received a solid Three-Star rating from Charity Navigator, indicating good accountability and transparency in their financial practices. The organization boasts a perfect score for its independent board members and has stringent policies in place, such as a whistleblower policy and conflict of interest policy, demonstrating a commitment to ethical governance. However, the absence of a website listed on their tax form and missing tax forms on their website slightly detracts from their overall accountability score.
The organization shows a strong financial management approach, with a high program expense ratio of 100%, suggesting that all funds are directed towards their programs. Despite this, there is a noteworthy concern regarding their liabilities to assets ratio, which is at 71.38%. This raises questions about their financial leverage and sustainability moving forward.
Unfortunately, user reviews from GreatNonprofits are currently unavailable, so further insights into community feedback are not provided. Nonetheless, Avesta Housing Management Corporation appears to operate with good governance and financial practices based on the available data.
This AI summary has been generated from information found on Charity Navigator.
Is Avesta Housing Management Corporation legitimate?
Avesta Housing Management Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Avesta Housing Management 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $110,407
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,890,684
For more financial information, click here
What is the mission statement of Avesta Housing Management Corporation?
Avesta Housing Management Corporation is dedicated to managing low-income housing, overseeing all related expenses. This encompasses various programs, such as those for the elderly and Section 8 rentals. The corporation's mission is centered around ensuring the proper management of these housing units, focusing on the financial aspects involved.
What is the revenue of Avesta Housing Management Corporation?
Avesta Housing Management Corporation's revenue in 2023 was $10,605,403.
Who are the executives of Avesta Housing Management Corporation and what are their salaries?
The average compensation at Avesta Housing Management Corporation during 2023 was $44,126. There are 136 employees at Avesta Housing Management Corporation.
Here are 22 key members and their salaries:
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- Compensation: $110,407
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- Other: $34,411
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- Related: $149,722
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- Related: $192,384
- Other: $45,000
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- Related: $265,049
- Other: $45,000
- Compensation: $0
- Related: $160,223
- Other: $38,333
Where can I find the form 990 for Avesta Housing Management Corporation?
Avesta Housing Management Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Avesta Housing Management Corporation
Avesta Housing Management Corporation is dedicated to managing low-income housing, overseeing all financial aspects associated with this responsibility. Their mission encompasses the careful management of elderly housing programs and Section 8 rental schemes. This organization plays a crucial role in ensuring the proper allocation of resources for the maintenance and upkeep of these housing units, thereby providing affordable living spaces for those in need.
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Impact
October, 2024
Avesta Housing Management Corporation makes a significant impact by managing low-income housing and ensuring the stability and affordability of housing options for vulnerable populations, including the elderly and those utilizing Section 8 rental programs. Through effective oversight of all expenses related to housing management, they contribute to the maintenance and improvement of living conditions for residents in Portland, ME. Their efforts help create a supportive environment that fosters community well-being and enhances the quality of life for individuals and families in need of affordable housing solutions.
This information is meant to be a general summary of Avesta Housing Management 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 2023.
- Investment Income: $9,755
- Program Service Revenue: $9,674,494
- Gross Receipts: $10,611,203
Assets and Liabilities:
- Total Assets: $4,334,215
- Total Liabilities: $3,093,789
- Net Assets: $1,240,426
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SITE MANAGEMENT
Revenue
$2,918,322
MAINTENANCE FEES
Revenue
$2,557,021
MANAGEMENT FEES
Revenue
$2,380,242
RESIDENT SERVICES
Revenue
$732,135
FRONT-LINE FEES
Revenue
$577,027
Organization Details
Founding Year
1974
Principal Officer
Eric Boucher
NTEE Category
Code: L20 - Housing
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