Overview
What is Acadia Housing Inc?
Acadia Housing Inc is a nonprofit organization based in Rocky Hill, Connecticut, with a postal address at 2080 Silas Deane Highway STE 102B, 06067. Their primary mission is to offer affordable housing to individuals with low and moderate incomes. They manage three housing projects under Section 515 of the National Housing Act of 1949: Dartmouth Village, Nutmeg Park, and Riverside Village. These projects are regulated by the United States Department of Agriculture Rural Development (USDA-RD). The organization's main objective is to provide decent living spaces within the reach of those with limited financial resources.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning it a Two-Star out of Four Star rating. This rating indicates that Acadia Housing Inc demonstrates some accountability and financial health, but there are several areas of concern that impact its overall score. The organization excels in maintaining a fully independent board and has robust oversight regarding financial statements, which speaks to its commitment to governance.
However, the nonprofit falls short in areas critical to transparency. Notably, it lacks a whistleblower policy and a document retention policy, which are essential for ensuring accountability and safeguarding against misconduct. Additionally, the absence of publicly available tax documents and a concerning liabilities to assets ratio of nearly 99% raise flags regarding its financial sustainability and operational transparency.
Despite these limitations, Acadia Housing Inc shows a strong program expense ratio at 86.29%, indicating that a significant portion of its funds is directed towards its programs. This suggests a commitment to fulfilling its mission, though the organization must address its governance and transparency issues to improve its overall rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Acadia Housing Inc legitimate?
Acadia Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Acadia Housing 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 Acadia Housing Inc?
Acadia Housing Inc's mission is centered around providing affordable housing for individuals with low and moderate income. This mission is carried out through the operation of several housing projects, such as Dartmouth Village, Nutmeg Park, and Riverside Village, under Section 515 of the National Housing Act of 1949. These projects are regulated by the United States Department of Agriculture Rural Development (USDA-RD), ensuring they adhere to strict standards. By providing affordable housing, Acadia Housing Inc contributes to the betterment of the communities it serves, offering a decent living environment to those who might otherwise struggle to afford it.
Who is the CEO of Acadia Housing Inc?
Matthew J Scibek is the Secretary of Acadia Housing Inc.
What is the revenue of Acadia Housing Inc?
Acadia Housing Inc's revenue in 2022 was $665,361.
Who are the executives of Acadia Housing Inc and what are their salaries?
There 4 volunteers at Acadia Housing Inc.
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Acadia Housing Inc?
Acadia Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Acadia Housing Inc
Acadia Housing Inc, a nonprofit organization, is committed to providing decent housing that is affordable for individuals with low and moderate income levels. This mission is carried out through the operation of three projects: Dartmouth Village, Nutmeg Park, and Riverside Village. These developments, each composed of 24 and 27 units respectively, are regulated by the United States Department of Agriculture Rural Development (USDA-RD) under Section 515 of the National Housing Act of 1949. By offering affordable housing options, Acadia Housing Inc contributes to the well-being and stability of the communities it serves, enabling individuals and families to focus on building their lives and reaching their goals.
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Impact
July, 2024
Acadia Housing Inc's impact lies in providing decent and affordable housing options for low and moderate-income individuals. Through its operation of three apartment complexes under Section 515 of the National Housing Act of 1949, namely Dartmouth Village, Nutmeg Park, and Riverside Village, Acadia Housing ensures that individuals in Rocky Hill, CT, have access to safe and affordable housing. These projects are regulated by the United States Department of Agriculture Rural Development (USDA-RD), further emphasizing Acadia Housing's commitment to meeting the housing needs of underserved populations.
This information is meant to be a general summary of Acadia Housing 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: $4,892
- Program Service Revenue: $259,586
- Gross Receipts: $665,361
Assets and Liabilities:
- Total Assets: $6,164,699
- Total Liabilities: $6,098,616
- Net Assets: $66,083
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL INCOME
Revenue
$245,278
TENANT LAUNDRY AND OTHER
Revenue
$14,308
Organization Details
Founding Year
2010
Phone
(860) 398-5425Principal Officer
Matthew J Scibek
Main Address
2080 SILAS DEANE HIGHWAY STE 102B, ROCKY HILL, CT, 06067
NTEE Category
Code: L21 - Housing
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