Overview
What is Wallace Place Nfp?
Wallace Place Nfp is a nonprofit organization located in Loves Park, Illinois, specifically at 4060 Mcfarland Road. Their primary mission is to offer affordable housing for individuals with developmental disabilities, ensuring they live in a secure, respectful, and comfortable environment. The organization currently operates a nine-unit residence under Section 202 of the National Housing Act, providing a home for those in need. Wallace Place Nfp's purpose is dedicated to enhancing the living conditions of its developmentally disabled residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87%, Three-Star out of Four Star Rating.
Wallace Place Nfp demonstrates strong accountability and financial health, as indicated by its 87% score which is derived entirely from its accountability and finance beacon. The organization excels in several key areas, including having a fully independent board and no material diversion of assets, which reflects a commitment to governance and ethical operations.
The nonprofit has a program expense ratio of 83.75%, suggesting that a significant portion of its funds is directed towards its mission-driven programs rather than administrative costs. Additionally, the presence of whistleblower and document retention policies showcases its dedication to transparency and responsible management.
Despite its strengths, the rating reflects an overall assessment based on a single beacon score, which may limit the understanding of its broader impact or effectiveness in achieving its mission. However, the high scores in accountability and finance highlight Wallace Place Nfp's strong operational practices.
This AI summary has been generated from information found on Charity Navigator.
Is Wallace Place Nfp legitimate?
Wallace Place Nfp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wallace Place Nfp 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 Wallace Place Nfp?
Wallace Place Nfp's mission is centered around providing a living environment for individuals with developmental disabilities. This mission is aimed at ensuring their safety, respect, and comfort. The organization, in its mission, strives to offer affordable housing under Section 202 of the National Housing Act, currently operating a nine-unit residence. The primary goal is to create a welcoming and supportive space for these individuals, allowing them to live with dignity and independence.
Who is the CEO of Wallace Place Nfp?
M Shawn Way is the President of Wallace Place Nfp.
What is the revenue of Wallace Place Nfp?
Wallace Place Nfp's revenue in 2022 was $67,686.
Who are the executives of Wallace Place Nfp and what are their salaries?
There 4 volunteers at Wallace Place Nfp.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $192,983
- Other: $26,163
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Wallace Place Nfp?
Wallace Place Nfp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wallace Place Nfp
Wallace Place Nfp, an organization dedicated to providing affordable housing, strives to fulfill its mission by creating a living environment that caters to the needs of developmentally disabled individuals. Its primary objective is to ensure that these residents live in a setting that fosters safety, respect, and comfort. By providing low-cost housing, Wallace Place Nfp aims to make a significant difference in the lives of those in need, offering them a secure and welcoming environment where they can thrive. The organization currently operates a nine-unit residence, demonstrating its commitment to this mission.
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Impact
August, 2024
Wallace Place NFP's impact lies in its provision of affordable and safe housing for the developmentally disabled residents of Rockford, Illinois. By operating a nine-unit residence under Section 202 of the National Housing Act in Loves Park, the organization creates a living environment where these individuals are respected, comfortable, and above all, safe. This contributes to their overall well-being and quality of life, fulfilling the mission of Wallace Place NFP.
This information is meant to be a general summary of Wallace Place Nfp. 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: $6
- Program Service Revenue: $25,800
- Gross Receipts: $67,686
Assets and Liabilities:
- Total Assets: $1,514,129
- Total Liabilities: $388,515
- Net Assets: $1,125,614
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME HOUSING
Revenue
$25,800
Organization Details
Founding Year
2010
Phone
(815) 654-6100Principal Officer
M Shawn Way
Main Address
4060 MCFARLAND ROAD, LOVES PARK, IL, 61111
NTEE Category
Code: L20 - Housing
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