Overview
What is Adelante Inc?
Adelante Inc is a nonprofit organization situated in Providence, Rhode Island, specifically at 861A Broad Street. Their primary mission is to provide affordable housing for the elderly and disabled individuals within the Providence area, adhering to Section 202 of the National Affordable Housing Act. They have successfully established and managed a 53-unit apartment complex to accommodate this purpose. The organization's goal is to ensure that these vulnerable populations have access to suitable housing, thereby enhancing their quality of life.
Official website here: www.wdchoc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating.
Adelante Inc has received an overall score of 81%, primarily assessed through its accountability and finance metrics. This score reflects a strong commitment to financial transparency and responsible management, with significant achievements such as 100% independent board members and a high program expense ratio of 89.62%. These elements indicate that the organization is effectively utilizing its resources towards its mission.
Despite its strengths, there are some limitations noted in the financial data. The organization has a liabilities to assets ratio of 119.93%, which indicates that its liabilities exceed its assets. This could raise concerns about the financial sustainability and stability of the nonprofit moving forward. However, the presence of robust governance policies, including conflict of interest and whistleblower policies, demonstrate a proactive approach to managing potential risks and maintaining trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Adelante Inc legitimate?
Adelante Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Adelante 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: $109,949
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Official website here: www.wdchoc.org
What is the mission statement of Adelante Inc?
Adelante Inc, as an organization, is committed to providing affordable housing for senior citizens and individuals with disabilities. This mission is carried out under Section 202 of the National Affordable Housing Act. Their primary goal is to offer low-income housing solutions in an unspecified location, catering specifically to the elderly and disabled population. Adelante Inc owns and manages a 53-unit apartment complex, serving as a testament to their dedication to this cause.
Official website here: www.wdchoc.org
Who is the CEO of Adelante Inc?
Frank Shea is the Chair of Adelante Inc.
Official website here: www.wdchoc.org
What is the revenue of Adelante Inc?
Adelante Inc's revenue in 2021 was $560,880.
Official website here: www.wdchoc.org
Who are the executives of Adelante Inc and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.wdchoc.org
Where can I find the form 990 for Adelante Inc?
Adelante Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.wdchoc.org
Learn more at the official website: www.wdchoc.org
Mission Statement of Adelante Inc
Adelante Inc, a nonprofit organization, is committed to providing affordable housing for senior citizens and individuals with disabilities. In line with Section 202 of the National Affordable Housing Act, Adelante's mission is to offer low-income housing solutions to this vulnerable population. The organization takes pride in its role of ensuring that the elderly and disabled individuals in need of housing have a place to call home. Adelante Inc owns and operates a 53-unit apartment complex, providing a safe and comfortable living environment for those who require such assistance. By adhering to its mission, Adelante Inc contributes significantly to the well-being and dignity of these individuals, enabling them to live with a sense of independence and security.
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Impact
July, 2024
Adelante Inc's impact can be seen in its provision of affordable housing to senior citizens and the disabled in Providence, Rhode Island. By owning and operating a 53-unit apartment complex, Adelante Inc is directly addressing the housing needs of low-income elderly and disabled individuals in the Providence area. This initiative aligns with the organization's mission to offer accessible housing options under Section 202 of the National Affordable Housing Act. Through their efforts, Adelante Inc is contributing to the well-being and quality of life of vulnerable populations in the community.
This information is meant to be a general summary of Adelante 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 2021.
- Investment Income: $189
- Program Service Revenue: $153,461
- Gross Receipts: $560,880
Assets and Liabilities:
- Total Assets: $4,026,882
- Total Liabilities: $4,667,082
- Net Assets: -$640,200
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$151,980
LAUNDRY REVENUE
Revenue
$1,481
Organization Details
Founding Year
2008
Phone
(401) 941-2900Principal Officer
Frank Shea
Main Address
861A BROAD ST, PROVIDENCE, RI, 02907
Website
www.wdchoc.orgNTEE Category
Code: L21 - Housing
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