Overview
What is Firehouse Place Inc?
Firehouse Place Inc, headquartered in Beverly, Massachusetts, is a dedicated nonprofit organization. Their primary mission is to offer affordable housing solutions for low-income individuals. They achieve this goal by managing a 4-unit residential and commercial complex in Hamilton, Massachusetts, which also houses a food pantry. This initiative aims to provide essential living facilities and resources to individuals in need, contributing positively to their local community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Firehouse Place Inc demonstrates a solid commitment to accountability and finance, receiving a Three-Star rating from Charity Navigator. The organization scored 79% overall, with a strong emphasis on accountability, indicated by the absence of material diversions of assets and a comprehensive conflict of interest policy. The board is entirely independent, showcasing a robust governance structure with 19 independent members.
Strengths include a high program expense ratio of 85.74%, meaning a significant portion of its funds is directed toward its programs rather than administrative costs. Additional policies for whistleblower protection and document retention highlight the organization’s dedication to transparency and ethical management practices. The board also maintains thorough meeting minutes, reflecting strong oversight.
However, the organization received a low score on its liabilities to assets ratio, which stands at 91.46%. This metric suggests potential financial vulnerabilities that could impact its operations and sustainability in the long term. Overall, while Firehouse Place Inc exhibits several strengths in governance and financial practices, it may need to address its financial liabilities to enhance its overall financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Firehouse Place Inc legitimate?
Firehouse Place Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Firehouse Place 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.
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What is the mission statement of Firehouse Place Inc?
Firehouse Place Inc, as an organization, is committed to providing affordable housing for individuals with low income. Their mission is to offer housing facilities and additional resources, such as a food pantry, to individuals in need. By operating a four-unit residential and commercial complex, they aim to make a positive impact on the lives of those who are financially disadvantaged. The organization's primary goal is to provide a safe and affordable living environment for these individuals, promoting their overall well-being and independence.
Who is the CEO of Firehouse Place Inc?
Andrew Defranza is the Director of Firehouse Place Inc.
What is the revenue of Firehouse Place Inc?
Firehouse Place Inc's revenue in 2022 was $75,998.
Who are the executives of Firehouse Place Inc and what are their salaries?
There 19 volunteers at Firehouse Place Inc.
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- Related: $309,036
- Other: $17,431
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- Related: $233,618
- Other: $43,149
Where can I find the form 990 for Firehouse Place Inc?
Firehouse Place Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Firehouse Place Inc
Firehouse Place Inc, a nonprofit organization, is dedicated to providing affordable housing solutions for low-income individuals. Its mission is centered around offering suitable living facilities to those who may not have the financial means to secure such accommodations on their own. Beyond just providing housing, Firehouse Place Inc also operates a food pantry within a 4-unit residential and commercial complex, demonstrating its commitment to holistically addressing the needs of its residents. By offering affordable housing and essential resources, Firehouse Place Inc aims to contribute positively to the lives of those it serves, promoting stability and overall well-being.
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Impact
August, 2024
Firehouse Place Inc's impact is significant in providing affordable housing for low-income individuals in Hamilton, Massachusetts. By offering housing facilities and a food pantry at a 4-unit residential and commercial complex, this organization directly addresses the needs of those in the community who are struggling to secure stable housing and access to basic necessities. They play a crucial role in ensuring that individuals facing financial hardship have a safe and supportive place to call home. Their mission to provide affordable housing aligns with the pressing need for such services in the area, making a tangible difference in the lives of those they serve.
This information is meant to be a general summary of Firehouse Place 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: $274
- Program Service Revenue: $75,724
- Gross Receipts: $75,998
Assets and Liabilities:
- Total Assets: $960,980
- Total Liabilities: $878,920
- Net Assets: $82,060
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$75,724
Organization Details
Founding Year
2010
Phone
(978) 922-1305Principal Officer
Andrew Defranza
Main Address
PO BOX 507, BEVERLY, MA, 01915
NTEE Category
Code: L21 - Housing
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