Overview
What is Pilgrim Towers Inc?
Pilgrim Towers Inc is a nonprofit organization based in Hartford, Connecticut, specifically at 117 Murphy Road 2. Their primary mission, as stated under the National Housing Act, is to provide housing for the elderly and other eligible occupants. This mission is carried out through the operation of a ten-story apartment building named Pilgrim Towers, situated in Stamford, Connecticut. The building offers 72 rental units, catering to the housing needs of its designated population.
Official website here: www.pilgrimtowers.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69% (Two-Star out of Four Star rating)
Pilgrim Towers Inc has received a mixed evaluation with a score of 69%, earning it a Two-Star rating. The charity demonstrates strong accountability in certain areas, with a fully independent board and no reported material diversion of assets. Additionally, it has high marks for its financial oversight, including a solid program expense ratio of 90.77%, indicating a focus on its charitable mission.
However, the organization faces significant limitations in its governance policies. Notably, it lacks essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which has negatively impacted its overall score. Furthermore, the charity's liabilities to assets ratio is concerning at 92.74%, suggesting potential financial stability issues.
Overall, while Pilgrim Towers Inc shows strengths in its financial management and board independence, the absence of vital governance policies raises questions about its operational transparency and accountability. Addressing these gaps could enhance its standing and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Pilgrim Towers Inc legitimate?
Pilgrim Towers Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pilgrim Towers 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: $91,008
For more financial information, click here
Official website here: www.pilgrimtowers.com
What is the mission statement of Pilgrim Towers Inc?
Pilgrim Towers Inc's mission, as outlined in their operations, is centered around providing housing for elderly individuals and other eligible occupants. This mission is carried out under Section 202 of the National Housing Act and the regulations associated with it. The organization operates a ten-story apartment building, known as Pilgrim Towers, in Stamford, CT, housing 72 rental units. Their primary objective is to offer suitable living spaces under the auspices of the National Housing Act.
Official website here: www.pilgrimtowers.com
Who is the CEO of Pilgrim Towers Inc?
Pat Thatcher is the President of Pilgrim Towers Inc.
Official website here: www.pilgrimtowers.com
What is the revenue of Pilgrim Towers Inc?
Pilgrim Towers Inc's revenue in 2022 was $766,378.
Official website here: www.pilgrimtowers.com
Who are the executives of Pilgrim Towers Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.pilgrimtowers.com
Where can I find the form 990 for Pilgrim Towers Inc?
Pilgrim Towers Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.pilgrimtowers.com
Learn more at the official website: www.pilgrimtowers.com
Mission Statement of Pilgrim Towers Inc
Pilgrim Towers Inc is dedicated to fulfilling its mission by providing housing for the elderly and other eligible individuals. Operating under Section 202 of the National Housing Act and its regulations, this organization operates a ten-story apartment building, known as Pilgrim Towers, located in Stamford, CT. The primary focus of Pilgrim Towers Inc is to offer housing solutions for seniors, ensuring they have a safe and comfortable living space. This mission aligns with the broader objective of the National Housing Act, which aims to address the housing needs of various demographics, including the elderly. By offering housing solutions, Pilgrim Towers Inc contributes to the well-being of its residents, enabling them to live with dignity and independence.
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Impact
October, 2024
Pilgrim Towers Inc plays a vital role in addressing housing needs for the elderly and other eligible individuals in Hartford, Connecticut. By providing affordable rental units, it contributes to a supportive living environment under the National Housing Act, specifically Section 202. Operating a ten-story apartment building with 72 rental units, Pilgrim Towers Inc ensures residents have access to safe and secure housing, which is essential for their well-being and quality of life. This initiative not only improves individual lives but also strengthens the community by fostering inclusion and stability for vulnerable populations.
This information is meant to be a general summary of Pilgrim Towers 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: $412
- Program Service Revenue: $702,370
- Gross Receipts: $766,378
Assets and Liabilities:
- Total Assets: $3,296,029
- Total Liabilities: $3,057,017
- Net Assets: $239,012
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME - APARTMEN
Revenue
$384,167
RENT INCOME - TENANT A
Revenue
$304,264
PARKING INCOME
Revenue
$13,939
Organization Details
Founding Year
1962
Phone
(203) 359-4611Principal Officer
Pat Thatcher
Main Address
117 MURPHY ROAD 2, HARTFORD, CT, 06114
Website
www.pilgrimtowers.comNTEE Category
Code: L22Z - Housing
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