Overview
What is Villa Michelangelo Inc?
Villa Michelangelo Inc, located in East Boston, Massachusetts, is a nonprofit organization that specializes in providing housing and supportive services for low- and moderate-income elderly individuals. Situated at 80 Border Street 3rd Floor, the organization is subject to regulations by HUD related to rental charges and operational methods. With a mission centered around elder care, Villa Michelangelo Inc strives to enhance the living conditions and well-being of its residents, offering them a safe and supportive environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Star rating)
Villa Michelangelo Inc has achieved a Three-Star rating from Charity Navigator, indicating a solid level of accountability and finance management. The overall score is derived from a single beacon, focusing entirely on the organization's financial practices, where it scored 75%. This rating reflects a well-managed organization with significant strengths in areas such as independent board membership and thorough financial audits.
The nonprofit has demonstrated strong governance, with 100% of its board members being independent, which contributes positively to its overall accountability. It received full points for its conflict of interest policy, financial audits, and documentation practices. Additionally, the program expense ratio is commendable at 80.15%, suggesting that a substantial portion of its resources is directed towards its mission-related activities.
However, the organization faces a notable challenge with a liabilities to assets ratio of 155.15%, which indicates potential concerns regarding its financial health. This high ratio might raise questions about its long-term sustainability and ability to meet its financial obligations. Overall, while Villa Michelangelo Inc shows strong governance and accountability, it may need to address its financial liabilities to enhance its operational stability.
This AI summary has been generated from information found on Charity Navigator.
Is Villa Michelangelo Inc legitimate?
Villa Michelangelo Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Villa Michelangelo 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 Villa Michelangelo Inc?
Villa Michelangelo Inc's mission is to offer housing and supportive services to individuals with limited income who are in their elderly years. This organization strives to provide a living environment that caters to the needs of this demographic, operating under the regulations set by HUD in terms of rental charges and operational methods. The focus is on ensuring affordable and suitable housing while also offering necessary support services. The complex, with 71 units, is situated in Boston, Massachusetts, but the mission statement itself does not specify the location.
Who is the CEO of Villa Michelangelo Inc?
Albert Festa is the President of Villa Michelangelo Inc.
What is the revenue of Villa Michelangelo Inc?
Villa Michelangelo Inc's revenue in 2022 was $821,611.
Who are the executives of Villa Michelangelo Inc and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Villa Michelangelo Inc?
Villa Michelangelo Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Villa Michelangelo Inc
Villa Michelangelo Inc, a nonprofit organization, is dedicated to providing housing and supportive services to low and moderate-income elderly individuals. Its mission is deeply rooted in ensuring that this vulnerable demographic has access to comfortable living spaces and the necessary assistance they require. Villa Michelangelo Inc's operations are regulated by the U.S. Department of Housing and Urban Development (HUD), overseeing rental charges and operational methods to ensure affordability and efficiency. The complex, with 71 units, is situated in Boston, Massachusetts, providing a home and support system for those in need.
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Impact
October, 2024
Villa Michelangelo Inc significantly impacts the community by providing essential housing and supportive services to low and moderate-income elderly individuals. Located in East Boston, Massachusetts, this complex consists of 71 units designed specifically to meet the needs of seniors, where affordable living is a priority.
By offering a stable and secure living environment, Villa Michelangelo enhances the quality of life for its residents, allowing them to maintain their independence while having access to necessary support. This initiative not only alleviates housing insecurity among the elderly population but also fosters a sense of community and belonging, ensuring that residents can thrive in their later years.
The organization's commitment to adhering to HUD regulations underscores its dedication to maintaining affordable rental charges and effective operating methods, further reinforcing its role as a vital resource for those in need within the East Boston area.
This information is meant to be a general summary of Villa Michelangelo 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: $491
- Program Service Revenue: $818,940
- Gross Receipts: $821,611
Assets and Liabilities:
- Total Assets: $4,954,441
- Total Liabilities: $7,686,957
- Net Assets: -$2,732,516
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESIDENTIAL RENTAL REVENUE
Revenue
$818,940
Organization Details
Founding Year
1998
Phone
(617) 569-5590Principal Officer
Albert Festa
Main Address
80 BORDER STREET 3RD FLOOR, EAST BOSTON, MA, 021281926
NTEE Category
Code: L22 - Housing
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