Overview
What is Valentine Foundation Inc?
Valentine Foundation Inc, based in Bloomfield, New Jersey, is a nonprofit organization that offers transitional housing at a rate lower than the fair market value for individuals recovering from substance addiction, specifically alcoholism. They manage five houses and generated $263,599 in rental income during the year while maintaining operational expenses of $199,598. With a dedicated workforce of two employees, Valentine Foundation Inc plays a crucial role in supporting individuals on their journey to recovery, providing them with a safe and affordable living environment.
Official website here: www.valentinehouse.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 36%, Zero-Star out of Four Star rating. This rating indicates significant concerns regarding the organization's accountability and financial practices. The score is based solely on these factors, highlighting issues that may affect donor trust and overall effectiveness.
The Valentine Foundation Inc demonstrates some strengths, including a fully independent board, with 71% of its members being independent and a board size consisting entirely of independent members. Additionally, there are no reported material diversions of assets, indicating a level of financial integrity in that aspect. However, the organization faces critical weaknesses, particularly in its governance and financial transparency.
Notably, the foundation lacks essential policies such as a conflict of interest policy, a whistleblower policy, and document retention and destruction guidelines. Furthermore, there are significant shortcomings in its financial management, including a low program expense ratio of 48.03% and missing documentation on its website that could provide greater transparency to stakeholders. These limitations significantly contribute to its low overall score and warrant careful consideration from potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Valentine Foundation Inc legitimate?
Valentine Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Valentine Foundation 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: $44,980
Professional Fundraising Fees: $0
Other Salaries and Wages: $19,250
For more financial information, click here
Official website here: www.valentinehouse.org
What is the mission statement of Valentine Foundation Inc?
The Valentine Foundation Inc. is committed to offering affordable transitional housing for individuals in recovery from substance abuse, specifically alcoholism and addiction. This organization ensures that the cost of housing remains below the fair market value. Through this initiative, the Valentine Foundation Inc. aims to provide a supportive environment for these individuals during their recovery journey. The organization's efforts result in a significant impact, as demonstrated by the annual reception of $263,599 in rental income from five houses. The operational expenses for these houses amount to $199,598.
Official website here: www.valentinehouse.org
Who is the CEO of Valentine Foundation Inc?
Charles Valentine is the Director of Valentine Foundation Inc.
Official website here: www.valentinehouse.org
What is the revenue of Valentine Foundation Inc?
Valentine Foundation Inc's revenue in 2022 was $118,759.
Official website here: www.valentinehouse.org
Who are the executives of Valentine Foundation Inc and what are their salaries?
The average compensation at Valentine Foundation Inc during 2022 was $32,115. There are 2 employees at Valentine Foundation Inc.
Here are 6 key members and their salaries:
- Compensation: $44,980
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.valentinehouse.org
Where can I find the form 990 for Valentine Foundation Inc?
Valentine Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.valentinehouse.org
Learn more at the official website: www.valentinehouse.org
Mission Statement of Valentine Foundation Inc
The Valentine Foundation Inc, as stated, is dedicated to providing transitional housing at a cost significantly lower than the fair market value, catering to individuals who are recovering from substance abuse, specifically alcoholism and addiction. The organization's mission is to offer these individuals a supportive environment during their recovery journey. Throughout the year, the foundation has managed to generate $263,599 in rental income from five housing units, while maintaining a relatively lower operational cost of $199,598. This demonstrates the foundation's commitment to offering affordable housing to those in need, thereby aiding in their recovery process.
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Impact
October, 2024
Valentine Foundation Inc plays a crucial role in supporting recovering addicts and alcoholics by offering transitional housing at a cost below fair market value. This affordable housing initiative is vital for individuals seeking to rebuild their lives, as it provides a stable and supportive environment during a challenging time.
In the past year, the organization generated $263,599 in rental income from its five housing facilities, demonstrating the significant demand for its services. With running costs totaling $199,598, Valentine Foundation effectively manages its resources to ensure residents have access to safe and comfortable living conditions.
By lowering financial barriers, the foundation not only facilitates recovery but also contributes to the broader community's health and stability in Bloomfield, NJ. This impactful mission helps individuals gain the strength and stability needed to transition successfully into independent living, ultimately fostering a healthier society.
This information is meant to be a general summary of Valentine Foundation 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.
- Gross Receipts: $318,357
Assets and Liabilities:
- Total Assets: $110,903
- Total Liabilities: $0
- Net Assets: $110,903
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Organization Details
Founding Year
2010
Phone
(201) 955-2008Principal Officer
Charles Valentine
Main Address
152 FRANKLIN STREET FL 2, BLOOMFIELD, NJ, 07003
Website
www.valentinehouse.orgNTEE Category
Code: L40 - Housing
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