Overview
What is Saratoga Affordable Housing Group Inc?
Saratoga Affordable Housing Group Inc is a nonprofit organization situated in Saratoga Springs, New York. Their primary mission is to provide affordable housing for low-income individuals and families, fostering self-sufficiency and economic independence. They have already established 24 two-bedroom units and a family house, with additional 1-bedroom and 3-bedroom units available for rental in the past. By offering quality and innovative housing, Saratoga Affordable Housing Group aims to contribute to the growth and prosperity of Saratoga Springs and Saratoga County, ultimately building a thriving community for its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
Saratoga Affordable Housing Group Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. The organization scored 94 in the Accountability & Finance category, indicating robust practices in financial management and transparency. Notably, it has a fully independent board consisting of 9 members, which enhances its governance structure.
The charity demonstrates exceptional oversight with a perfect score in its audit and oversight committee, along with robust policies in place, including conflict of interest and whistleblower policies. The absence of any material diversions of assets further solidifies its integrity. Additionally, the program expense ratio of over 90% signifies that the majority of its funds are directed towards its mission rather than administrative costs.
While the organization excels in financial accountability, it is important to consider that the rating is derived solely from the Accountability & Finance beacon. There may be additional factors regarding effectiveness and impact that are not captured in this rating, which potential donors and stakeholders might want to explore further. Overall, Saratoga Affordable Housing Group Inc appears to be a financially sound choice for supporting affordable housing initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Saratoga Affordable Housing Group Inc legitimate?
Saratoga Affordable Housing Group Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Saratoga Affordable Housing Group 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 Saratoga Affordable Housing Group Inc?
Saratoga Affordable Housing Group Inc's mission is centered around providing quality and innovative housing solutions for families in need. Their goal is to promote opportunities for self-sufficiency and economic independence, ultimately aiming to foster a thriving community. By offering affordable housing options, they aim to contribute positively to the well-being of their community. The organization has made significant strides, providing 24 two-bedroom units and a family house, as well as opening additional one-bedroom and three-bedroom units in the past years.
Who is the CEO of Saratoga Affordable Housing Group Inc?
Corissa Salvo is the Vice Preside of Saratoga Affordable Housing Group Inc.
What is the revenue of Saratoga Affordable Housing Group Inc?
Saratoga Affordable Housing Group Inc's revenue in 2023 was $897,133.
Who are the executives of Saratoga Affordable Housing Group 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 Saratoga Affordable Housing Group Inc?
Saratoga Affordable Housing Group Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Saratoga Affordable Housing Group Inc
Saratoga Affordable Housing Group Inc is committed to providing high-quality, innovative housing solutions for families in need. Their mission is twofold: firstly, they aim to promote opportunities for self-sufficiency and economic independence among these families. Secondly, they strive to build a thriving community, contributing positively to the city and county they serve.
To accomplish this, Saratoga Affordable Housing Group Inc has acquired and renovated various housing units. Initially, they purchased 24 two-bedroom units and a single-family house to offer affordable housing options. Subsequently, they expanded their offerings by opening additional 1-bedroom and 3-bedroom units for rent. This strategic expansion has enabled the organization to cater to a broader range of families in need, providing them with a secure and comfortable living environment.
Beyond simply offering housing, Saratoga Affordable Housing Group Inc seeks to empower its residents to become self-sufficient and financially independent. By providing quality housing, they create a stable foundation for families to build upon. Simultaneously, they foster an environment that encourages personal growth and development, enabling families to take advantage of opportunities for advancement.
In doing so, Saratoga Affordable Housing Group Inc is not only addressing the immediate housing needs of families but also contributing to the long-term well-being of their community. By promoting self-sufficiency and economic independence, they are helping to build a resilient and thriving community where everyone has the opportunity to succeed.
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Impact
October, 2024
Saratoga Affordable Housing Group Inc significantly enhances the quality of life for families in need by providing innovative and affordable housing options in Saratoga Springs and Saratoga County, NY. With a commitment to promoting self-sufficiency and economic independence, the organization creates opportunities that empower residents to thrive within their community.
By acquiring and managing various housing units, including 24 two-bedroom units and additional one- and three-bedroom apartments, the group directly addresses the pressing need for affordable housing. This accessibility not only supports families in securing stable homes but also fosters a more vibrant community through increased economic participation and engagement.
The initiative to provide quality housing helps to alleviate homelessness and housing insecurity, allowing families to focus on their personal and professional development. As a result, Saratoga Affordable Housing Group Inc plays a pivotal role in building a thriving, inclusive community, ultimately contributing to the economic and social well-being of Saratoga Springs and the surrounding areas.
This information is meant to be a general summary of Saratoga Affordable Housing Group 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: $96,717
- Program Service Revenue: $375,958
- Gross Receipts: $1,275,513
Assets and Liabilities:
- Total Assets: $3,482,767
- Total Liabilities: $1,493,824
- Net Assets: $1,988,943
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
AFFORDABLE HOUSING RENTS
Revenue
$375,958
Organization Details
Founding Year
2007
Phone
(518) 584-6600Principal Officer
Corissa Salvo
Main Address
ONE SOUTH FEDERAL STREET, SARATOGA SPRINGS, NY, 12866
NTEE Category
Code: L20 - Housing
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