Overview
What is Stonehaven Student Housing Inc?
Stonehaven Student Housing Inc is a nonprofit organization that specializes in providing student housing solutions. They operate a 200-unit complex situated on the University of California, Riverside's campus. This complex is managed under the terms of a bond loan agreement with the California Statewide Communities Development Authority and a ground lease with the Regents of the University of California. Stonehaven's mission is to acquire, own, and operate this student housing facility, aiming to cater to the needs of the university's students. The organization's activities are geared towards benefiting the students of the University of California, Riverside, offering a convenient living space right on their campus.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52% - One-Star out of Four Stars
Stonehaven Student Housing Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The overall score of 52% reflects weaknesses in governance, particularly the lack of independent board members and missing key policies such as conflict of interest and whistleblower protections, which are critical for transparency and ethical management.
Despite these issues, the organization demonstrates strong program expense ratios, with 93.01% of its expenses directed towards programs. This suggests a commitment to its mission, even though financial oversight and board independence appear to be lacking. The presence of an audit and oversight committee that received full points highlights some dedication to financial accountability.
However, the high liabilities-to-assets ratio of 96.63% raises concerns about the organization's financial stability. Furthermore, the absence of necessary documents and policies on their website diminishes trust among stakeholders. Overall, while Stonehaven shows a strong commitment to its programs, its governance and financial practices need significant improvement to enhance accountability and transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Stonehaven Student Housing Inc legitimate?
Stonehaven Student Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Stonehaven Student Housing 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: $367,013
For more financial information, click here
What is the mission statement of Stonehaven Student Housing Inc?
Stonehaven Student Housing Inc's mission is centered around acquiring, owning, and operating a student housing facility. This facility is strategically situated on the Riverside campus of the University of California. The primary objective is to serve and benefit the students of the university. The corporation operates a 200-unit apartment complex, providing accommodations for students, faculty, and staff on the University of California at Riverside's campus. This operation is controlled under a bond loan agreement with the California Statewide Communities Development Authority and a ground lease with the Regents of the University of California.
Who is the CEO of Stonehaven Student Housing Inc?
Cathy Macy is the Secretary/Treas of Stonehaven Student Housing Inc.
What is the revenue of Stonehaven Student Housing Inc?
Stonehaven Student Housing Inc's revenue in 2023 was $4,418,507.
Who are the executives of Stonehaven Student Housing Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $591,118
- Other: $41,676
- Compensation: $0
- Related: $418,349
- Other: $27,052
- Compensation: $0
- Related: $372,185
- Other: $39,392
Where can I find the form 990 for Stonehaven Student Housing Inc?
Stonehaven Student Housing Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Stonehaven Student Housing Inc
Stonehaven Student Housing Inc, as a mission-driven organization, aims to acquire, own, and operate a student housing facility located on the Riverside campus of the University of California. This endeavor is primarily designed to benefit the students of the University of California. The corporation operates a 200-unit apartment complex, catering to students, faculty, and staff, within the premises of the University of California at Riverside. This complex is regulated under the terms of a bond loan agreement with the California Statewide Communities Development Authority and a ground lease with the Regents of the University of California. Essentially, Stonehaven Student Housing Inc is committed to providing comfortable and convenient living spaces for the students, faculty, and staff of the University of California, all while adhering to the stipulations of its financial agreements.
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Impact
October, 2024
Stonehaven Student Housing Inc. plays a vital role in supporting the academic and social lives of students at the University of California, Riverside. By operating a 200-unit apartment complex specifically designed for students, faculty, and staff, it provides accessible housing options that foster a conducive learning environment.
The housing facility addresses the pressing need for student accommodation, ensuring that students have a safe and supportive living space within close proximity to their campus. This contributes not just to their academic success but also enhances overall student well-being and community engagement.
Moreover, by managing this housing complex under strict regulations, Stonehaven Student Housing Inc. maintains high standards of living, promoting a healthy and inclusive community for its residents. The organization’s focus on benefiting the students of the University of California reinforces the institution’s commitment to education and personal growth, significantly impacting the university community as a whole.
This information is meant to be a general summary of Stonehaven Student Housing 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.
- Program Service Revenue: $4,418,507
- Gross Receipts: $4,418,507
Assets and Liabilities:
- Total Assets: $14,269,656
- Total Liabilities: $13,789,398
- Net Assets: $480,258
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DAMAGE & CLEANING FEES
Revenue
$50,260
LAUNDRY & VENDING INCOME
Revenue
$16,444
PARKING INCOME
Revenue
$80,178
TENANT CHARGES
Revenue
$52,827
TENANT RENTS
Revenue
$4,218,798
Organization Details
Founding Year
2002
Phone
(415) 258-1800Principal Officer
Cathy Macy
Main Address
22 Pelican Way, San Rafael, CA, 94901
NTEE Category
Code: L99 - Housing
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