Overview
What is Russo Street Apartments Inc?
Russo Street Apartments Inc is a nonprofit organization situated in Woonsocket, Rhode Island. Their primary focus is on providing affordable housing for low-income disabled individuals, adhering to the regulations set under HUD Section 811 of the National Housing Act. This initiative aims to ensure that individuals with disabilities have access to comfortable living spaces, thereby contributing to their overall well-being and independence.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%
Russo Street Apartments Inc has achieved a Four-Star out of Four Star rating from Charity Navigator, reflecting its high level of accountability and transparency in financial management. The organization received a perfect score of 100% for its majority independent board members, ensuring that governance is conducted with integrity and without conflicts of interest. Additionally, there are no reported material diversions of assets, highlighting a strong commitment to ethical practices.
The organization's financial metrics are impressive, with a liabilities to assets ratio of 40.53%, indicating a stable financial position. Furthermore, Russo Street Apartments has demonstrated a full program expense ratio of 100%, meaning all funds are utilized directly for its mission. This efficiency suggests that the organization is effectively using its resources to support its programs.
One notable strength is the presence of comprehensive policies, including conflict of interest and whistleblower policies, which contribute to a culture of accountability. Overall, Russo Street Apartments Inc exemplifies a well-managed nonprofit that prioritizes its mission and demonstrates a commitment to ethical governance.
This AI summary has been generated from information found on Charity Navigator.
Is Russo Street Apartments Inc legitimate?
Russo Street Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Russo Street Apartments 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:
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What is the mission statement of Russo Street Apartments Inc?
Russo Street Apartments Inc, as outlined in its mission, focuses on providing housing solutions for individuals with low income, specifically those with disabilities. This is done under the provisions of Section 811 of the National Housing Act. The organization's primary goal is to ensure that these individuals have access to suitable living spaces. The 10-unit apartment building they manage serves this purpose, offering a safe and affordable living environment. By providing such housing, Russo Street Apartments Inc contributes to the improved quality of life for these individuals, enabling them to live independently and with dignity.
Who is the CEO of Russo Street Apartments Inc?
Benedict Lessing Jr is the President of Russo Street Apartments Inc.
What is the revenue of Russo Street Apartments Inc?
Russo Street Apartments Inc's revenue in 2023 was $136,446.
Who are the executives of Russo Street Apartments Inc and what are their salaries?
There 7 volunteers at Russo Street Apartments Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Russo Street Apartments Inc?
Russo Street Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Russo Street Apartments Inc
Russo Street Apartments Inc, as a nonprofit organization, is dedicated to providing housing for individuals with low income and disabilities under Section 811 of the National Housing Act. Their mission is to create a living space that is both affordable and accessible, catering specifically to this vulnerable population. The organization manages a 10-unit apartment building, designed to offer a safe and comfortable living environment for these individuals. By adhering to the guidelines set forth in Section 811 of the National Housing Act, Russo Street Apartments Inc works toward promoting independence and improving the quality of life for low-income disabled persons.
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Impact
October, 2024
Russo Street Apartments Inc significantly impacts the community by providing affordable housing options for low-income individuals with disabilities. Located in Woonsocket, Rhode Island, this 10-unit apartment building is dedicated to ensuring that those in need can secure a stable living environment. By operating under HUD Section 811 of the National Housing Act, the organization focuses on creating accessible living spaces that enhance the quality of life for disabled individuals and promote their independence. This initiative not only addresses the critical shortage of affordable housing but also contributes to the overall well-being and integration of vulnerable populations within the community.
This information is meant to be a general summary of Russo Street Apartments 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: $1,330
- Program Service Revenue: $134,520
- Gross Receipts: $136,446
Assets and Liabilities:
- Total Assets: $722,408
- Total Liabilities: $292,861
- Net Assets: $429,547
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$134,520
Organization Details
Founding Year
2000
Phone
(401) 235-7000Principal Officer
Benedict Lessing Jr
Main Address
PO BOX 1700, WOONSOCKET, RI, 02895
NTEE Category
Code: L21 - Housing
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