Overview
What is Springvale Terrace Inc C/O Seabury Resources For Aging?
Springvale Terrace Inc C/O Seabury Resources For Aging is a nonprofit organization established on April 23, 2003, in accordance with Maryland's provisions. It was primarily financed through the U.S. Department of Housing and Urban Development under Section 232 of the National Affordable Housing Act. The organization operates 146 units of affordable housing for the elderly and provides additional care services for an extra fee. These services include congregate housing, which is certified by the Maryland Department of Aging, and assisted living, licensed by the Maryland Department of Health and Mental Hygiene. Springvale Terrace Inc C/O Seabury Resources For Aging's mission is to offer affordable housing and associated resident services to the elderly, further enhancing their quality of life.
Official website here: www.seaburyresources.org/springvaleterrace
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
Springvale Terrace Inc, part of Seabury Resources For Aging, has an overall score of 81% based on its Accountability & Finance practices. This score reflects a strong commitment to financial transparency and governance, as indicated by its perfect ratings in several key areas, including independent board composition and the presence of essential policies such as conflict of interest and whistleblower protections.
The organization demonstrates effective management of its resources, with a program expense ratio of 91.83%, suggesting that a significant portion of its funding is allocated to its programs rather than administrative costs. However, it also faces challenges, particularly indicated by a high liabilities to assets ratio of 187.73%, which may raise concerns about its financial stability and ability to meet obligations.
Overall, while Springvale Terrace Inc has made commendable strides in accountability and financial practices, potential supporters should consider the implications of its financial ratios before making contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Springvale Terrace Inc C/O Seabury Resources For Aging legitimate?
Springvale Terrace Inc C/O Seabury Resources For Aging is a legitimate nonprofit organization registered as a 501(c)(3) entity. Springvale Terrace Inc C/O Seabury Resources For Aging 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
Official website here: www.seaburyresources.org/springvaleterrace
What is the mission statement of Springvale Terrace Inc C/O Seabury Resources For Aging?
Springvale Terrace Inc C/O Seabury Resources For Aging is committed to providing affordable housing and related services to the elderly, in alignment with Section 232 of the National Housing Act. Established in 2003, the organization operates with funding from the U.S. Department of Housing and Urban Development. Springvale Terrace, Inc. owns 146 units, offering rental housing, and additionally operates care services programs for an additional fee. These services include congregate housing services, certified by the Maryland Department of Aging and licensed by the Maryland Department of Health and Mental Hygiene.
Official website here: www.seaburyresources.org/springvaleterrace
Who is the CEO of Springvale Terrace Inc C/O Seabury Resources For Aging?
Susan Spurlark is the Principal Officer of Springvale Terrace Inc C/O Seabury Resources For Aging. The CEO's salary of Springvale Terrace Inc C/O Seabury Resources For Aging is $0 and their total compensation is $183,332.
Official website here: www.seaburyresources.org/springvaleterrace
What is the revenue of Springvale Terrace Inc C/O Seabury Resources For Aging?
Springvale Terrace Inc C/O Seabury Resources For Aging's revenue in 2022 was $3,226,400.
Official website here: www.seaburyresources.org/springvaleterrace
Who are the executives of Springvale Terrace Inc C/O Seabury Resources For Aging and what are their salaries?
There 18 volunteers at Springvale Terrace Inc C/O Seabury Resources For Aging.
Here are 18 key members and their salaries (Springvale Terrace Inc C/O Seabury Resources For Aging's CEO's salary is $0 and their total compensation is $183,332):
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- Related: $162,989
- Other: $20,343
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- Related: $120,235
- Other: $10,262
Official website here: www.seaburyresources.org/springvaleterrace
Where can I find the form 990 for Springvale Terrace Inc C/O Seabury Resources For Aging?
Springvale Terrace Inc C/O Seabury Resources For Aging's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.seaburyresources.org/springvaleterrace
Learn more at the official website: www.seaburyresources.org/springvaleterrace
Mission Statement of Springvale Terrace Inc C/O Seabury Resources For Aging
Springvale Terrace Inc C/O Seabury Resources For Aging is dedicated to providing affordable housing and related services for the elderly. Established under Section 232 of the National Housing Act, this organization's mission is to cater to the needs of the elderly population. The organization was financed through the U.S. Department of Housing and Urban Development and consists of 146 units, offering both rental housing and additional care services for an additional fee. These additional services include congregate housing services, certified by the Maryland Department of Aging, and assisted living services, licensed by the Maryland Department of Health and Mental Hygiene. Springvale Terrace Inc C/O Seabury Resources For Aging aims to provide a comfortable living environment and necessary support for the elderly, ensuring their well-being and quality of life.
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Impact
October, 2024
Springvale Terrace Inc C/O Seabury Resources For Aging plays a crucial role in enhancing the quality of life for elderly residents in Washington, DC. By providing affordable housing and essential resident services, it addresses a significant need for safe and accessible living conditions for older adults.
With 146 housing units specifically designed for seniors, the organization ensures that its residents have a stable and supportive environment. This stability is vital for the elderly, many of whom may face financial challenges or health-related issues. In addition to its housing services, Springvale Terrace offers care programs, including congregate housing services and assisted living options, which further support the health and well-being of its residents.
By integrating both affordable housing and personalized care, Springvale Terrace enhances community living for seniors, promoting independence while ensuring that they receive the necessary assistance. The impact is significant, as it not only provides shelter but also fosters a sense of community and belonging among older adults, ultimately contributing to their overall happiness and health.
This information is meant to be a general summary of Springvale Terrace Inc C/O Seabury Resources For Aging. 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: $214,095
- Program Service Revenue: $2,767,104
- Gross Receipts: $3,250,205
Assets and Liabilities:
- Total Assets: $4,753,837
- Total Liabilities: $8,924,635
- Net Assets: -$4,170,798
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ELDERLY/CONGREGATE SVC
Revenue
$1,487,978
RENTAL INCOME
Revenue
$1,279,126
Organization Details
Founding Year
2003
Phone
(202) 414-6310Principal Officer
Susan Spurlark
Main Address
4201 BUTTERWORTH PLACE NW, WASHINGTON, DC, 20016
NTEE Category
Code: L22 - Housing
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