Overview
What is Sandywoods Homes Inc?
Sandywoods Homes Inc, situated in Newport, Rhode Island, is a dedicated nonprofit organization with a primary mission to provide affordable housing options for individuals with low and moderate incomes. Their primary activity revolves around developing and owning these affordable properties, ensuring that a wide range of people can secure a residence within their financial means. The organization's commitment to this cause has positively impacted the local community, making housing more accessible and affordable for many residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76%, Three-Star out of Four Star Rating
Sandywoods Homes Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance with an overall score of 76%. This rating is derived solely from their Accountability & Finance score, reflecting a strong commitment to financial responsibility and transparency. The organization demonstrates a high level of accountability, featuring an independent board comprising 100% independent members and no reported conflicts of interest.
Key strengths of Sandywoods Homes Inc include a perfect score in program expense ratio, signifying that all funds are dedicated to their programs. Additionally, they have robust financial oversight with a well-structured audit and oversight committee. The organization also adheres to best practices for document retention and governance, illustrated by positive scores across various accountability measures.
However, the organization’s liabilities to assets ratio scored lower at 68.30%, suggesting potential concerns regarding financial leverage. While their overall accountability is commendable, this aspect may warrant further attention to ensure long-term financial sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Sandywoods Homes Inc legitimate?
Sandywoods Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sandywoods 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 Sandywoods Homes Inc?
Sandywoods Homes Inc is committed to a mission of developing and owning affordable housing options for individuals with low and moderate incomes. This organization strives to provide suitable living spaces for this specific demographic, contributing to their overall well-being and stability. Through the development and ownership of these properties, Sandywoods Homes Inc aims to make affordable housing more accessible, thereby improving the living standards for a significant portion of the population.
What is the revenue of Sandywoods Homes Inc?
Sandywoods Homes Inc's revenue in 2024 was $1,028,574.
Who are the executives of Sandywoods Homes Inc and what are their salaries?
There 5 volunteers at Sandywoods Homes Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Sandywoods Homes Inc?
Sandywoods Homes Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Sandywoods Homes Inc
Sandywoods Homes Inc, a nonprofit organization, is dedicated to a noble cause. Its mission is centered around the development and ownership of affordable housing for individuals with low and moderate income levels. By undertaking this mission, Sandywoods Homes aims to contribute positively to the community, providing a much-needed solution for those who might otherwise struggle to secure suitable housing. This commitment to affordable housing is an essential part of Sandywoods Homes' identity and purpose, underscoring its role as a vital resource for those in need.
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Impact
October, 2024
Sandywoods Homes Inc plays a crucial role in addressing the housing needs of low and moderate-income residents in Newport, RI. By developing and owning affordable housing, the organization helps to alleviate housing insecurity and creates a stable community environment. Its efforts contribute to increasing access to safe and affordable living spaces, fostering a sense of belonging among residents. Through the provision of quality housing, Sandywoods Homes enhances the overall well-being of individuals and families, promotes economic stability, and supports community development in the region.
This information is meant to be a general summary of Sandywoods 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 2024.
- Investment Income: $5,582
- Program Service Revenue: $963,617
- Gross Receipts: $1,028,574
Assets and Liabilities:
- Total Assets: $9,653,108
- Total Liabilities: $6,387,979
- Net Assets: $3,265,129
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL SUBSIDIES
Revenue
$403,368
TENANT RENTS
Revenue
$560,249
Organization Details
Founding Year
2009
Principal Officer
Robert Sabel
NTEE Category
Code: L21 - Housing
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