Overview
What is New Sunrise Properties Inc?
New Sunrise Properties Inc, based in Elyria, Ohio, is a dedicated nonprofit organization that strives to augment housing opportunities for the citizens of Lorain County. Particularly, the organization focuses on supporting individuals who are mentally ill, homeless, or low-income, offering them a chance to secure safe, decent, and affordable permanent housing. By managing over 200 housing units, including scattered site duplexes, apartments, condominiums, and single-family homes, New Sunrise Properties Inc serves as a vital resource for the community. The organization's mission is primarily geared towards increasing the housing availability for those in need, aiming to provide a stable living environment. With a team of 11 employees, the nonprofit continues to make a significant impact in the lives of those residing in Lorain County.
Official website here: www.newsunriseproperties.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Star rating)
New Sunrise Properties Inc has received an 84% score from Charity Navigator, achieving a Three-Star rating. This rating is based entirely on a single beacon score, reflecting its strong performance in Accountability & Finance. The organization demonstrates a high level of governance, with 100% of its board members being independent and a comprehensive audit and oversight structure in place.
Strengths of New Sunrise Properties Inc include its effective financial management, with a program expense ratio of 77.70%, indicating that a significant portion of its expenses directly supports its mission. The organization also exhibits robust policies for conflict of interest, whistleblower protection, and document retention, which contribute to its accountability and transparency.
However, while the organization scores well in many areas, it received a lower score for its liabilities to assets ratio, at 66.14%, suggesting potential concerns regarding its financial leverage. Overall, while New Sunrise Properties Inc shows strong governance and a commitment to its mission, it may need to address its financial structure to enhance its overall stability.
This AI summary has been generated from information found on Charity Navigator.
Is New Sunrise Properties Inc legitimate?
New Sunrise Properties Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Sunrise Properties 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: $643,557
For more financial information, click here
Official website here: www.newsunriseproperties.com
What is the mission statement of New Sunrise Properties Inc?
New Sunrise Properties Inc. is committed to expanding housing opportunities for individuals who are mentally ill, homeless, low-income, or in need, residing in Lorain County. The organization achieves this by offering a diverse range of housing options, including scattered site duplexes, apartments, condominiums, and single-family homes. The mission of New Sunrise Properties Inc. is to provide these individuals with secure, decent, affordable, and permanent housing opportunities. The organization owns and manages over 200 units of housing throughout Lorain County, aiming to improve the living conditions and provide a stable home for those in need.
Official website here: www.newsunriseproperties.com
Who is the CEO of New Sunrise Properties Inc?
Michael Kearney is the Board Member of New Sunrise Properties Inc.
Official website here: www.newsunriseproperties.com
What is the revenue of New Sunrise Properties Inc?
New Sunrise Properties Inc's revenue in 2022 was $1,437,662.
Official website here: www.newsunriseproperties.com
Who are the executives of New Sunrise Properties Inc and what are their salaries?
The average compensation at New Sunrise Properties Inc during 2022 was $58,505. There are 11 employees at New Sunrise Properties Inc.
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Official website here: www.newsunriseproperties.com
Where can I find the form 990 for New Sunrise Properties Inc?
New Sunrise Properties Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newsunriseproperties.com
Learn more at the official website: www.newsunriseproperties.com
Mission Statement of New Sunrise Properties Inc
New Sunrise Properties Inc, as a nonprofit organization, is committed to expanding the housing options available for individuals in Lorain County who are mentally ill, homeless, low-income, or otherwise in need. Their mission is to provide these individuals with the opportunity to secure safe, decent, affordable, and permanent housing. To achieve this goal, New Sunrise Properties Inc manages over 200 housing units, which are scattered across the county. These units come in various forms, including scattered site duplexes, apartments, condominiums, and single-family homes. By offering these housing options, New Sunrise Properties Inc aims to enhance the living conditions of those who are most vulnerable in the community.
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Impact
October, 2024
New Sunrise Properties Inc significantly impacts the community of Lorain County by addressing the pressing issue of housing accessibility for vulnerable populations, including individuals who are mentally ill, homeless, low-income, or otherwise in need. By providing over 200 units of safe, decent, affordable, and permanent housing, the organization plays a crucial role in improving the living conditions of its residents.
The housing options offered by New Sunrise Properties Inc, which include scattered-site duplexes, apartments, condominiums, and single-family homes, cater to a diverse range of needs, ensuring that various demographics have access to suitable living environments. This effort not only helps to stabilize lives but also fosters a sense of community and belonging among residents.
Through its initiatives, New Sunrise Properties Inc contributes to the overall well-being of Lorain County, promoting social inclusion and empowering individuals to overcome barriers related to housing insecurity. By facilitating access to stable housing, the organization helps residents on their paths toward greater independence and self-sufficiency, ultimately enhancing the quality of life in the region.
This information is meant to be a general summary of New Sunrise Properties 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: $72
- Program Service Revenue: $728,371
- Gross Receipts: $1,437,662
Assets and Liabilities:
- Total Assets: $5,178,634
- Total Liabilities: $3,195,749
- Net Assets: $1,982,885
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTY MANAGEMENT FEES
Revenue
$440,921
RENTAL INCOME
Revenue
$417,226
MISCELLANEOUS INCOME
Revenue
$888
INCOME FROM PARTNERSHIPS
Revenue
-$130,664
Organization Details
Founding Year
1991
Phone
(440) 365-9600Principal Officer
Michael Kearney
Main Address
1100 N ABBE RD SUITE A, ELYRIA, OH, 440351667
Website
www.newsunriseproperties.comNTEE Category
Code: L22Z - Housing
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