Overview
What is First Richland-Morrow Housing Inc Vi?
First Richland-Morrow Housing Inc Vi, located in Columbus, Ohio, is a nonprofit organization that dedicates its efforts towards providing affordable housing for low-income elderly individuals. Operating as public housing facilities, they offer subsidized housing through the HUD (Housing and Urban Development) program. The organization's primary mission is to contribute to the community by addressing the housing needs of its elderly population, ensuring they have safe and affordable living spaces.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58% (One-Star out of Four Stars)
First Richland-Morrow Housing Inc Vi has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization scored well in areas such as board independence and program expense ratio, demonstrating a commitment to its mission with 77.34% of expenses allocated to programs. However, the low overall rating reflects critical deficiencies in financial management, particularly a concerning liabilities to assets ratio of 362.88%.
The organization does exhibit strong governance practices, with all board members being independent and maintaining thorough documentation of board meeting minutes. Nevertheless, the absence of essential policies, including conflict of interest and whistleblower protections, raises questions about its operational transparency and ethical oversight.
Overall, while First Richland-Morrow Housing Inc Vi shows some strengths in program funding and governance structure, the significant weaknesses in financial stability and policy implementation highlight an urgent need for improvement to enhance its accountability and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is First Richland-Morrow Housing Inc Vi legitimate?
First Richland-Morrow Housing Inc Vi is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Richland-Morrow Housing Inc Vi 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: $32,618
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What is the mission statement of First Richland-Morrow Housing Inc Vi?
First Richland-Morrow Housing Inc Vi's primary mission is centered around providing affordable housing options. Specifically, they focus on catering to low-income elderly individuals, offering them subsidized housing through the HUD program. The organization operates as public housing facilities, dedicated to extending this essential service.
What is the revenue of First Richland-Morrow Housing Inc Vi?
First Richland-Morrow Housing Inc Vi's revenue in 2023 was $179,938.
Who are the executives of First Richland-Morrow Housing Inc Vi and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for First Richland-Morrow Housing Inc Vi?
First Richland-Morrow Housing Inc Vi's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of First Richland-Morrow Housing Inc Vi
First Richland-Morrow Housing Inc Vi is dedicated to providing low-income housing solutions, specifically catering to elderly individuals. As part of their mission, they operate Mansfield Manor, which is a housing facility that offers subsidies from the HUD. This organization's structure is that of public housing facilities, aimed at making affordable housing available to those in need. Their primary focus is on low-income elderly individuals, ensuring that they have a safe and secure living environment.
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Impact
October, 2024
First Richland-Morrow Housing Inc Vi has a significant impact on the community by providing subsidized housing specifically designed for low-income elderly individuals. Through Mansfield Manor, it addresses the critical need for affordable living options, enhancing the quality of life for its residents. By ensuring access to safe and stable housing in Columbus, OH, it alleviates financial stress for elderly populations, allowing them to focus on their health and well-being.
This organization plays a pivotal role in fostering a sense of community among residents, helping to combat loneliness and isolation often experienced by the elderly. By creating an environment where individuals can access resources and support, it contributes positively to their overall mental and emotional health. Additionally, the provision of low-income housing helps reduce homelessness and housing insecurity within the region, promoting social and economic stability.
Furthermore, First Richland-Morrow Housing Inc Vi aligns with broader humanitarian efforts by addressing the needs of some of the most vulnerable members of society. Its commitment to HUD subsidized housing exemplifies a dedication to improving living conditions for those who might otherwise struggle to find accessible housing options.
This information is meant to be a general summary of First Richland-Morrow Housing Inc Vi. 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: $7
- Program Service Revenue: $90,000
- Gross Receipts: $179,938
Assets and Liabilities:
- Total Assets: $430,918
- Total Liabilities: $1,563,716
- Net Assets: -$1,132,798
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$90,000
Organization Details
Founding Year
1996
Principal Officer
Obie Stillwell
NTEE Category
Code: P75Z - Human services
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