Overview
What is Terra Quest Inc?
Terra Quest Inc is a nonprofit organization that focuses on providing affordable housing solutions for low-income elderly individuals. Situated within their area of expertise, they specialize in senior citizens housing and retirement communities, ensuring that these vital segments of society have access to suitable living arrangements. The organization's primary mission is driven by the HUD subsidy program, enabling them to offer subsidized housing options to the elderly, thereby making housing more affordable for those who need it most.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (2 stars, 73%)
Terra Quest Inc has received a "Needs Improvement" rating from Charity Navigator, indicating the organization struggles in certain operational areas despite achieving a perfect score in accountability and finance. The high scores for independent board members and the material diversion of assets suggest strong governance practices are in place, which is a positive aspect of their management.
Financially, Terra Quest Inc demonstrates a robust commitment to its programs, with a program expense ratio of 94.16%. This indicates that a significant portion of the organization's expenditures is directed towards its mission-related activities, which is a commendable trait. However, the overall rating signifies that there are areas needing attention and improvement to enhance their effectiveness and transparency further.
While the organization excels in governance and efficient financial management, the two-star rating reflects concerns that potential donors and stakeholders should consider. Engaging with the organization further may provide insights into their initiatives and efforts to address the noted limitations.
This AI summary has been generated from information found on Charity Navigator.
Is Terra Quest Inc legitimate?
Terra Quest Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Terra Quest 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: $20,525
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What is the mission statement of Terra Quest Inc?
Terra Quest Inc, a housing organization, is dedicated to providing affordable housing solutions for low-income elderly individuals. Specializing in senior citizens housing and retirement communities, Terra Quest's mission is to offer subsidized homes through the HUD program, ensuring that those in need have access to suitable living spaces. The organization strives to cater to the housing needs of the elderly population, prioritizing affordability and comfort.
Who is the CEO of Terra Quest Inc?
Gwen Stegall is the Principal Officer of Terra Quest Inc.
What is the revenue of Terra Quest Inc?
Terra Quest Inc's revenue in 2022 was $145,061.
Who are the executives of Terra Quest Inc and what are their salaries?
There 6 volunteers at Terra Quest Inc.
Here are 11 key members and their salaries:
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Where can I find the form 990 for Terra Quest Inc?
Terra Quest Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Terra Quest Inc
Terra Quest Inc, a nonprofit organization, is dedicated to providing affordable housing solutions for low-income elderly individuals. With a particular focus on senior citizens and retirement communities, Terra Quest's mission is to create an environment where these individuals can reside comfortably. The organization specializes in HUD-subsidized housing, ensuring that the homes they offer are within reach for those who need them most. By providing such housing, Terra Quest contributes to the well-being of its residents, offering them a sense of security and stability in their later years.
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Impact
October, 2024
Terra Quest Inc significantly impacts the community by providing essential housing solutions for low-income elderly individuals in Ashtabula, Ohio. By offering HUD-subsidized housing, the organization addresses a critical need for affordable living arrangements among senior citizens. This not only enhances the quality of life for elderly residents but also fosters a sense of community and security in retirement.
The focus on specialized housing for seniors ensures that residents can enjoy their later years with access to appropriate amenities and support. By prioritizing affordable homes, Terra Quest Inc helps alleviate the financial burden on low-income elderly individuals, enabling them to live with dignity while accessing necessary services and resources. Overall, the organization plays a crucial role in enhancing the well-being of vulnerable populations in the area, contributing to healthier and more stable communities.
This information is meant to be a general summary of Terra Quest 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: $588
- Program Service Revenue: $68,586
- Gross Receipts: $145,061
Assets and Liabilities:
- Total Assets: $1,405,984
- Total Liabilities: $83,648
- Net Assets: $1,322,336
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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
$68,586
Organization Details
Founding Year
2001
Phone
(330) 376-8787Principal Officer
Gwen Stegall
Main Address
2400 East 38th, Ashtabula, OH, 44004
NTEE Category
Code: L22 - Housing
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