Overview
What is Ashmore Homes Inc?
Ashmore Homes Inc, established in 2008 in Rockville, Maryland, is a nonprofit organization dedicated to providing affordable housing for individuals with disabilities. Funded through the U.S. Department of Housing and Urban Development's Section 811 of the National Affordable Housing Act, Ashmore Homes Inc manages 10 housing units that cater to this specific demographic. The organization's mission is to ensure that disabled persons have access to suitable living spaces, adhering to the regulations set by HUD regarding rental charges and operational methods.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 41%, Zero-Star out of Four Star rating.
Ashmore Homes Inc has received a low rating of 41% from Charity Navigator, which reflects significant concerns regarding its accountability and financial practices. The charity's score is primarily affected by missing key policies such as a conflict of interest policy, whistleblower policy, and document retention guidelines, which could undermine transparency and governance.
Despite some strengths, such as having a majority independent board and no material diversion of assets, the organization struggles with a high liabilities to assets ratio of 201.05%, indicating potential financial instability. Additionally, the program expense ratio of 56.20% suggests that less than ideal funding is allocated directly to its programs, which may limit its effectiveness in fulfilling its mission.
Improvements in financial practices and governance documentation are essential for Ashmore Homes Inc to enhance its accountability and overall rating. Without addressing these critical issues, the organization may face challenges in gaining donor trust and support.
This AI summary has been generated from information found on Charity Navigator.
Is Ashmore Homes Inc legitimate?
Ashmore Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ashmore Homes 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: $0
For more financial information, click here
What is the mission statement of Ashmore Homes Inc?
Ashmore Homes Inc, established in 2008, is dedicated to providing affordable housing for individuals with disabilities. This commitment is in line with Section 811 of the National Affordable Housing Act. The organization, financed by the U.S. Department of Housing and Urban Development, has constructed and operates facilities specifically designed for disabled persons. The housing unit under Ashmore Homes Inc. is regulated by HUD, ensuring reasonable rent charges and operational methods are maintained.
Who is the CEO of Ashmore Homes Inc?
Susanne Sinclair-Smith is the President of Ashmore Homes Inc.
What is the revenue of Ashmore Homes Inc?
Ashmore Homes Inc's revenue in 2022 was $107,469.
Who are the executives of Ashmore Homes Inc and what are their salaries?
There 5 volunteers at Ashmore Homes Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $169,245
- Other: $11,742
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Ashmore Homes Inc?
Ashmore Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ashmore Homes Inc
Ashmore Homes Inc, a nonprofit organization established in 2008, is committed to providing affordable housing for individuals with disabilities. This mission is in alignment with Section 811 of the National Affordable Housing Act, a program funded by the U.S. Department of Housing and Urban Development (HUD). Ashmore Homes Inc manages 10 housing units, and its operations are regulated by HUD to ensure compliance with rental charges and operational methods. The organization's primary objective is to create a living environment that is accessible and affordable for individuals with disabilities, thereby contributing to their overall well-being and independence.
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Impact
October, 2024
Ashmore Homes Inc. plays a vital role in increasing access to affordable housing for individuals with disabilities. By providing dedicated housing under Section 811 of the National Affordable Housing Act, it works to ensure that these individuals can secure safe and supportive living environments. Established in 2008 in Rockville, Maryland, Ashmore Homes operates 10 units specifically designed to meet the needs of disabled residents.
The organization is responsive to the regulatory standards set forth by the U.S. Department of Housing and Urban Development (HUD), which governs rent charges and operational practices to maintain affordability and support for its residents. This commitment not only enhances the quality of life for these individuals but also helps promote greater independence and integration within the community.
The impact of Ashmore Homes Inc. extends beyond just housing; it contributes to a broader effort to address homelessness, increase social equity, and foster community engagement for people with disabilities. By filling a critical gap in housing resources, Ashmore Homes empowers residents, helping them achieve stability and a sense of belonging in society.
This information is meant to be a general summary of Ashmore Homes 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: $12
- Program Service Revenue: $28,911
- Gross Receipts: $107,469
Assets and Liabilities:
- Total Assets: $672,280
- Total Liabilities: $1,351,674
- Net Assets: -$679,394
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$28,911
Organization Details
Founding Year
2008
Phone
(301) 217-0314Principal Officer
Susanne Sinclair-Smith
Main Address
405 E GUDE DRIVE, ROCKVILLE, MD, 20850
NTEE Category
Code: L20 - Housing
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