Overview
What is Floyd-Kress Homes Inc?
Floyd-Kress Homes Inc is a nonprofit organization situated in Frederick, Maryland. Their primary mission is to provide affordable housing for individuals who are chronically mentally disabled, in accordance with Section 811 of the National Affordable Housing Act. They strive to make a significant impact by offering housing solutions that cater to this specific group, contributing to their overall well-being and enhancing their quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 55% (One-Star out of Four Stars)
Floyd-Kress Homes Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its overall accountability and financial practices. The organization scored particularly well in areas such as having an independent board and managing material asset diversions, but it struggles in transparency and adherence to best practices.
Key strengths include a fully independent board and a high program expense ratio, suggesting that funds are primarily used for program services rather than administrative costs. However, the charity falls short in several critical compliance areas, including not providing essential policies such as conflict of interest and whistleblower protections, which raises potential governance issues.
The lack of transparency is highlighted by multiple zeros in transparency-related categories, such as not having its tax form or board meeting minutes available on its website. This lack of accessibility may deter potential donors who prioritize accountability when choosing where to contribute.
This AI summary has been generated from information found on Charity Navigator.
Is Floyd-Kress Homes Inc legitimate?
Floyd-Kress Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Floyd-Kress Homes 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: $0
For more financial information, click here
What is the mission statement of Floyd-Kress Homes Inc?
Floyd-Kress Homes Inc, as outlined in its mission statement, is committed to providing affordable housing solutions for individuals who are chronically mentally disabled. This commitment is in line with Section 811 of the National Affordable Housing Act. The organization's primary goal is to ensure that these individuals have access to suitable housing, thereby contributing to their overall well-being. They operate under an exempt purpose, focusing on providing housing that meets the specific needs of this vulnerable group.
Who is the CEO of Floyd-Kress Homes Inc?
Sarah Norman is the Treasurer of Floyd-Kress Homes Inc.
What is the revenue of Floyd-Kress Homes Inc?
Floyd-Kress Homes Inc's revenue in 2022 was $67,624.
Who are the executives of Floyd-Kress Homes Inc and what are their salaries?
There 5 volunteers at Floyd-Kress Homes Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $451,063
- Other: $25,617
- Compensation: $0
- Related: $172,288
- Other: $21,000
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Floyd-Kress Homes Inc?
Floyd-Kress Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Floyd-Kress Homes Inc
Floyd-Kress Homes Inc, a notable organization, is committed to providing affordable housing for individuals who are chronically mentally disabled. This mission aligns with Section 811 of the National Affordable Housing Act. The primary goal of Floyd-Kress Homes Inc is to offer housing solutions that cater to the unique needs of this vulnerable population, ensuring they have a safe and secure living environment. By providing affordable housing, Floyd-Kress Homes Inc is able to contribute significantly to the well-being and independence of the chronically mentally disabled, enabling them to lead more fulfilling lives.
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Impact
August, 2024
Floyd-Kress Homes Inc has a significant impact on the community by providing affordable housing to the chronically mentally disabled in Frederick, MD. By offering housing in accordance with the National Affordable Housing Act, the organization is able to fulfill a crucial need for this vulnerable population. Through their mission, Floyd-Kress Homes Inc improves the quality of life and well-being of those in need, ensuring they have a safe and stable place to call home. This impact extends beyond just providing shelter, as it also promotes independence and dignity for individuals with chronic mental disabilities.
This information is meant to be a general summary of Floyd-Kress Homes 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: $7
- Program Service Revenue: $67,617
- Gross Receipts: $67,624
Assets and Liabilities:
- Total Assets: $553,791
- Total Liabilities: $715,229
- Net Assets: -$161,438
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$67,617
Organization Details
Founding Year
2001
Phone
(301) 662-0099Principal Officer
Sarah Norman
Main Address
PO BOX 3734, FREDERICK, MD, 21705
NTEE Category
Code: P73 - Human services
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