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Thomas Wilbur Homestead Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 261802780 ✦ Warwick, RI ✦ Designated as a 501(c)(3)

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Overview

What is Thomas Wilbur Homestead Inc?

Thomas Wilbur Homestead Inc is a nonprofit organization situated in Warwick, Rhode Island. Its primary mission is to provide affordable housing to its community. They accomplish this by managing a 5-unit apartment building, overseen by the United States Department of Housing and Urban Development under the guidelines of Section 811 of the National Affordable Housing Act of 1990. The organization's commitment to affordable housing aims to contribute positively to the local community.

What are the reviews and ratings of this charity?

Charity Navigator Rating: 94%, Four-Star out of Four Stars

Thomas Wilbur Homestead Inc has achieved a strong Four-Star rating from Charity Navigator, reflecting a high level of accountability and financial management. The organization scored 100% in several key areas, including having a fully independent board and no material diversion of assets, which indicates a commitment to maintaining integrity and transparency.

The charity's financial health is also demonstrated by a low liabilities to assets ratio of 4.09%, alongside a program expense ratio of 78.34%. This suggests that the majority of its funds are directed toward its programs rather than administrative costs, which is a positive indicator of its operational efficiency and effectiveness.

While the organization shows strong governance practices, including established conflict of interest and whistleblower policies, the rating is based solely on financial criteria. This focus means that other aspects of performance or impact may not be fully captured in the rating. Nonetheless, the overall assessment highlights Thomas Wilbur Homestead Inc as a well-managed nonprofit.


This AI summary has been generated from information found on Charity Navigator.

Is Thomas Wilbur Homestead Inc legitimate?

Thomas Wilbur Homestead Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Thomas Wilbur Homestead 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 Thomas Wilbur Homestead Inc?

Thomas Wilbur Homestead Inc, as an organization, is dedicated to providing affordable housing solutions. Regulated by the United States Department of Housing and Urban Development under Section 811 of the National Affordable Housing Act of 1990, the company operates a 5-unit apartment building to serve this purpose. Their mission is centered around making housing accessible to a broader section of society, thereby contributing to a more inclusive community.

Who is the CEO of Thomas Wilbur Homestead Inc?

Laura Jaworski is the Executive Director of Thomas Wilbur Homestead Inc.

What is the revenue of Thomas Wilbur Homestead Inc?

Thomas Wilbur Homestead Inc's revenue in 2021 was $55,249.

Who are the executives of Thomas Wilbur Homestead Inc and what are their salaries?


Here are 5 key members and their salaries:


Laura Jaworski (Executive Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael T Maynard (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Thomas Beverly (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Anita Sowers (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
William Stein (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Thomas Wilbur Homestead Inc?

Thomas Wilbur Homestead Inc's most recent form 990 was submitted in 2021 and can be accessed here.

Mission Statement of Thomas Wilbur Homestead Inc

Thomas Wilbur Homestead Inc is committed to providing affordable housing. As a regulated entity under the United States Department of Housing and Urban Development, following the provisions of Section 811 of the National Affordable Housing Act of 1990, the organization operates a 5-unit apartment building in Warwick, RI. This mission enables Thomas Wilbur Homestead Inc to offer affordable housing, providing a vital service to individuals and families in need. By focusing on affordable housing, Thomas Wilbur Homestead Inc contributes to creating more equitable living conditions, ensuring that everyone has access to a safe and comfortable living space. The organization's dedication to affordable housing is essential in making a positive impact on the community, offering a much-needed solution to those who may struggle with housing costs.

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Impact




August, 2024

Thomas Wilbur Homestead Inc's impact lies in providing crucial affordable housing options to individuals in need. By operating a 5-unit apartment building in Warwick, RI, this organization directly addresses the pressing issue of housing affordability in the community. Through their dedicated efforts, they contribute to stabilizing housing situations for those who may otherwise struggle to find suitable and affordable living arrangements. This impact extends beyond just providing a roof over people's heads; it plays a vital role in promoting overall well-being, security, and dignity for residents.




This information is meant to be a general summary of Thomas Wilbur Homestead 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.

Revenue
$55,249 (2021)
Expenses
$84,839 (2021)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2021.

  • Investment Income: $7
  • Program Service Revenue: $18,151
  • Gross Receipts: $55,249

Assets and Liabilities:

  • Total Assets: $1,112,211
  • Total Liabilities: $45,695
  • Net Assets: $1,066,516

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

TENANT RENT

Revenue

$18,151

Organization Details

Founding Year

2008

Principal Officer

Laura Jaworski

Main Address

3188 POST ROAD, WARWICK, RI, 02886

NTEE Category

Code: L80 - Housing

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