Overview
What is Foundation For Eldercare?
The Foundation For Eldercare, with its headquarters at 1 Dunminning Rd, Newtown Square, PA, 19073, is a nonprofit organization committed to offering safe and affordable housing for low-income, handicapped, and senior citizens. This mission aims to support aging-in-place, enabling these individuals to live comfortably in their own homes. Despite selling off all income-producing properties in Pennsylvania in 2020, the Foundation has managed to expand its operations to Maryland and Delaware, where the lower real estate tax burden allows for profitable, low-income housing initiatives.
Official website here: www.foundationeldercare.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 Stars (44%)
Foundation For Eldercare has received a Zero-Star out of Four Star rating from Charity Navigator, reflecting significant concerns regarding its accountability and financial practices. With an overall score of just 44%, it indicates that the organization lacks sufficient independent oversight and transparency, as evidenced by the absence of independent board members and missing financial statements. This low score suggests potential risks in how the organization manages its resources and governance.
The organization does have some positive attributes, such as a conflict of interest policy in place and documented board meeting minutes. However, crucial policies such as a whistleblower policy and a document retention policy are notably missing. Additionally, while the charity does list its website on its tax form, it fails to post its tax documents online, which further complicates transparency for potential donors and stakeholders.
Financially, the organization has a reasonable liabilities-to-assets ratio of 43.66%, but its program expense ratio of 58.89% raises concerns about the proportion of funds allocated to actual programming versus administrative costs. The salaries of key personnel also suggest a disparity, with significant compensation for the chairman trustee while the vice president of administration earns considerably less. Overall, potential supporters should be cautious and consider these factors when evaluating Foundation For Eldercare.
This AI summary has been generated from information found on Charity Navigator.
Is Foundation For Eldercare legitimate?
Foundation For Eldercare is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundation For Eldercare 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: $122,063
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.foundationeldercare.org
What is the mission statement of Foundation For Eldercare?
The Foundation For Eldercare's mission is centered around providing modern, affordable housing to support the concept of aging-in-place for individuals who are financially disadvantaged, handicapped, and senior citizens. This mission is aimed at enhancing their living conditions, enabling them to age comfortably in their own homes. During 2020, the foundation scaled down its operations in Pennsylvania, disposing of its income-generating properties without incurring any financial liability due to tax liens. Despite discontinuing operations in Pennsylvania, the foundation is now developing new, low-income housing projects in Maryland and Delaware, where the tax burden allows for sustainable, cash-positive operations.
Official website here: www.foundationeldercare.org
Who is the CEO of Foundation For Eldercare?
John G Berg is the Chairman Trustee of Foundation For Eldercare.
Official website here: www.foundationeldercare.org
What is the revenue of Foundation For Eldercare?
Foundation For Eldercare's revenue in 2020 was $539,428.
Official website here: www.foundationeldercare.org
Who are the executives of Foundation For Eldercare and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $100,000
- Related: $0
- Other: $0
- Compensation: $22,063
- Related: $0
- Other: $0
Official website here: www.foundationeldercare.org
Where can I find the form 990 for Foundation For Eldercare?
Foundation For Eldercare's most recent form 990 was submitted in 2020 and can be accessed here.
Official website here: www.foundationeldercare.org
Learn more at the official website: www.foundationeldercare.org
Mission Statement of Foundation For Eldercare
The Foundation for Eldercare is dedicated to a noble mission. Its primary objective is to offer safe and affordable housing facilities that enable low-income, handicapped, and senior citizens to age comfortably in their own homes, a concept known as "aging-in-place." This mission is achieved by providing modern housing units that cater to their specific needs, ensuring they maintain a comfortable and secure living environment.
Recognizing the unique challenges faced by its target demographic, the Foundation understands the importance of addressing the financial constraints that may impede their ability to maintain independent living. To this end, it strives to make its housing options affordable, ensuring that the financial burden does not outweigh the benefits. This commitment to affordability is reflected in the Foundation's operations, especially in areas where the real estate tax burden allows for positive cash flow, enabling the organization to continue its vital work.
In summary, the Foundation for Eldercare is a nonprofit organization that prioritizes the well-being and dignity of its target population by providing them with safe, modern, and affordable housing. This mission is driven by the belief that every individual, regardless of income or physical ability, deserves the opportunity to age gracefully in their own homes. By focusing on affordable housing solutions, the Foundation empowers its clients to maintain their independence while ensuring their safety and comfort.
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Impact
July, 2024
Foundation For Eldercare's impact can be seen in its efforts to provide safe and modern affordable housing to low-income, handicapped, and senior citizens. By scaling down its operations in Pennsylvania and transferring its housing without financial liability for tax liens, the Foundation has enabled aging-in-place capabilities for those in need. Additionally, the development of new low-income housing in Maryland and Delaware showcases the Foundation's commitment to positively impacting the lives of vulnerable populations.
This information is meant to be a general summary of Foundation For Eldercare. 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 2020.
- Program Service Revenue: $293,214
- Gross Receipts: $716,740
Assets and Liabilities:
- Total Assets: $5,502,042
- Total Liabilities: $2,402,425
- Net Assets: $3,099,617
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
rental from qualifying tenants
Revenue
$288,449
Organization Details
Founding Year
2009
Phone
(610) 520-1100Principal Officer
John G Berg
Main Address
1 Dunminning Rd, Newtown Square, PA, 19073
Website
www.foundationeldercare.orgNTEE Category
Code: P75 - Human services
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