Overview
What is Esperance Homes Inc?
Esperance Homes Inc is a Maryland nonprofit organization, established in February 2001, with a mission to provide affordable housing to individuals with disabilities, particularly those with chronic mental illness. The organization operates six units located in Montgomery County, Maryland, and falls under Section 811 of the National Affordable Housing Act. This act regulates the rent charges and operating methods of the project, ensuring fair and accessible housing for its residents. Esperance Homes Inc receives assistance from the U.S. Department of Housing and Urban Development to fulfill its mission, aiming to improve the lives of its residents by offering them a safe and supportive housing environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 50% (One-Star out of Four Stars)
Esperance Homes Inc has received a low rating of 50% from Charity Navigator, earning it a One-Star designation. This score reflects significant concerns regarding transparency and governance practices. While the organization has demonstrated a fully independent board and shows no signs of asset diversion, it has numerous shortcomings in its accountability measures, particularly in lacking essential policies and documentation.
The nonprofit's strength lies in its independent board and the absence of material asset diversion, which are positive indicators of governance. However, critical areas such as conflict of interest and whistleblower policies are missing, which raises questions about the organization's commitment to ethical oversight. Additionally, the absence of required documentation on its website, including tax forms, further diminishes its accountability.
Financially, the organization has a high liabilities to assets ratio, suggesting potential financial instability. Although it allocates a reasonable portion of expenses to programs, the overall accountability and financial transparency issues could deter potential donors and supporters. Without addressing these limitations, Esperance Homes Inc may struggle to build trust within the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Esperance Homes Inc legitimate?
Esperance Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Esperance 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 Esperance Homes Inc?
Esperance Homes Inc, a non-profit organization, is dedicated to providing affordable housing solutions for individuals with disabilities. This is in alignment with Section 811 of the National Affordable Housing Act. The organization's mission is to acquire, develop, and manage housing facilities that cater to individuals dealing with chronic mental illness. The housing projects under Esperance Homes Inc are regulated by the U.S. Department of Housing and Urban Development in terms of rent charges and operating methods, ensuring a supportive and accessible living environment for its residents.
Who is the CEO of Esperance Homes Inc?
Sarah Norman is the Vice President of Esperance Homes Inc.
What is the revenue of Esperance Homes Inc?
Esperance Homes Inc's revenue in 2022 was $60,708.
Who are the executives of Esperance Homes Inc and what are their salaries?
There 5 volunteers at Esperance Homes Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $172,288
- Other: $21,000
- Compensation: $0
- Related: $451,063
- Other: $25,617
Where can I find the form 990 for Esperance Homes Inc?
Esperance Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Esperance Homes Inc
Esperance Homes Inc, a Maryland-based corporation, was established in February 2001 with a mission to provide affordable housing for individuals with disabilities. In line with Section 811 of the National Affordable Housing Act, this nonprofit organization aims to create and maintain housing facilities that cater specifically to persons with chronic mental illness. The projects under Esperance Homes Inc are regulated by the U.S. Department of Housing and Urban Development, ensuring that rent charges and operating methods adhere to the guidelines set forth in the Act. By offering affordable and well-regulated housing, Esperance Homes Inc seeks to make a significant difference in the lives of those in need, providing them with a safe and supportive living environment.
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Impact
June, 2024
Esperance Homes Inc's impact lies in its mission to provide affordable housing to persons with disabilities, specifically those with chronic mental illness. By acquiring, developing, and operating housing units in Montgomery County, Maryland, Esperance Homes Inc is addressing a critical need for individuals who require supportive living environments. Through its adherence to the regulations set forth by the U.S. Department of Housing and Urban Development, the organization ensures that its residents have access to safe and affordable housing options. This initiative not only improves the quality of life for those with mental health challenges but also promotes inclusivity and community integration.
This information is meant to be a general summary of Esperance 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: $19
- Program Service Revenue: $20,528
- Gross Receipts: $60,708
Assets and Liabilities:
- Total Assets: $460,236
- Total Liabilities: $596,867
- Net Assets: -$136,631
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$20,528
Organization Details
Founding Year
2001
Phone
(301) 840-3297Principal Officer
Sarah Norman
Main Address
610 EAST DIAMOND AVE 100, GAITHERSBURG, MD, 20877
NTEE Category
Code: F33 - Mental health
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