Overview
What is Ridge Oak Ii Inc?
Ridge Oak II Inc is a nonprofit organization situated in Basking Ridge, New Jersey, specifically at 150 Manchester Drive. Their primary mission is to provide housing and related services for the elderly, adhering to Section 202 of the US Housing Act of 1959, which they have amended. The organization operates a residential housing project primarily for low-income elderly individuals in Basking Ridge, ensuring they have access to a comfortable living environment.
Official website here: www.ridgeoak.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star rating.
Ridge Oak II Inc has achieved a high score of 97%, earning a prestigious Four-Star rating from Charity Navigator. This rating is based entirely on its Accountability and Finance beacon, which reflects the organization’s strong commitment to transparency and responsible management of funds. The organization scored a perfect 10 out of 10 for having a board composed entirely of independent members, ensuring unbiased governance and oversight.
The fiscal health of Ridge Oak II Inc is also commendable, with a program expense ratio of 78.77%, indicating that a substantial portion of its resources is directed towards its charitable programs. The organization has demonstrated sound financial practices, with a liabilities to assets ratio of 25.76%, showcasing a solid financial foundation. Additionally, it has implemented robust policies regarding conflict of interest, whistleblower protections, and document retention, further underscoring its dedication to accountability.
While the data reflects a strong performance in governance and financial health, there are no specific limitations noted in the feedback that could affect the organization's overall rating. This level of transparency and adherence to best practices positions Ridge Oak II Inc as a trustworthy nonprofit, making it a favorable option for potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Ridge Oak Ii Inc legitimate?
Ridge Oak Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ridge Oak Ii 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: $81,954
For more financial information, click here
Official website here: www.ridgeoak.org
What is the mission statement of Ridge Oak Ii Inc?
Ridge Oak II Inc's mission is centered around operating a residential housing project, primarily for low-income elderly individuals. Their primary goal is to provide a housing solution along with related services for this specific demographic. This initiative is in line with Section 202 of the US Housing Act of 1959, as amended. The organization aims to offer 39 housing units in this project, striving to support the elderly in a comfortable and suitable living environment.
Official website here: www.ridgeoak.org
Who is the CEO of Ridge Oak Ii Inc?
Bonnie Kelly is the Secretary of Ridge Oak Ii Inc.
Official website here: www.ridgeoak.org
What is the revenue of Ridge Oak Ii Inc?
Ridge Oak Ii Inc's revenue in 2023 was $480,654.
Official website here: www.ridgeoak.org
Who are the executives of Ridge Oak Ii Inc and what are their salaries?
Here are 10 key members and their salaries:
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- Related: $180,233
- Other: $60,113
Official website here: www.ridgeoak.org
Where can I find the form 990 for Ridge Oak Ii Inc?
Ridge Oak Ii Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ridgeoak.org
Learn more at the official website: www.ridgeoak.org
Mission Statement of Ridge Oak Ii Inc
Ridge Oak II Inc, as a nonprofit organization, is dedicated to operating a residential housing project primarily for low-income elderly individuals. Their mission is to provide a comfortable living space and related services for this specific demographic, adhering to Section 202 of the US Housing Act of 1959, as amended. This project aims to enhance the quality of life for elderly individuals, offering them a secure and supportive environment.
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Impact
July, 2024
Ridge Oak II Inc's impact can be seen in its provision of 39 housing units and related services for low-income elderly individuals in Basking Ridge, NJ. By operating a residential housing project under the US Housing Act of 1959, Ridge Oak II Inc is addressing the critical need for affordable housing for the elderly population in the area. This organization is helping to ensure that low-income elderly individuals have access to safe and comfortable housing, promoting their well-being and quality of life. Through its mission to provide housing for this vulnerable demographic, Ridge Oak II Inc is making a tangible and meaningful impact in the community.
This information is meant to be a general summary of Ridge Oak Ii 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 2023.
- Investment Income: $6,325
- Program Service Revenue: $474,329
- Gross Receipts: $480,654
Assets and Liabilities:
- Total Assets: $2,935,431
- Total Liabilities: $756,400
- Net Assets: $2,179,031
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE PAYM
Revenue
$286,129
RENT - TENANT
Revenue
$186,346
LAUNDRY REVENUE
Revenue
$1,854
Organization Details
Founding Year
2001
Phone
(908) 221-0266Principal Officer
Bonnie Kelly
Main Address
150 MANCHESTER DRIVE, BASKING RIDGE, NJ, 07920
Website
www.ridgeoak.orgNTEE Category
Code: L22 - Housing
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