Overview
What is Bridgeway Homes 02?
Bridgeway Homes 02 is a nonprofit organization situated in Galesburg, Illinois, specifically at 2323 N Windish Drive. Their primary mission is to offer housing solutions for the low-income elderly and disabled individuals, ensuring they have a safe and comfortable living environment. The organization is committed to this cause, as stated in both their activity and mission descriptions. By providing housing, Bridgeway Homes 02 contributes significantly to the well-being and stability of this vulnerable population in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star Rating, 72%)
Bridgeway Homes has received a rating indicating it needs improvement, with a score of 72%. The organization demonstrates strengths in governance, with an independent board comprising 80% independent members and effective conflict of interest and document retention policies. Notably, it reported no material diversion of assets, showcasing its dedication to financial integrity.
However, there are significant areas that require attention. The nonprofit lacks a whistleblower policy, which is crucial for fostering transparency and accountability within the organization. Additionally, the absence of the tax form on the nonprofit's website may hinder public access to important financial information. A concerning liability-to-assets ratio of 211.55% suggests potential financial instability that could impact its operations and sustainability.
Despite these challenges, Bridgeway Homes maintains a strong program expense ratio of 83.41%, indicating a commitment to channeling a substantial portion of its resources towards its programs. Addressing the highlighted limitations would improve its overall financial health and transparency, enhancing the trust of its supporters and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Bridgeway Homes 02 legitimate?
Bridgeway Homes 02 is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bridgeway Homes 02 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: $15,136
For more financial information, click here
What is the mission statement of Bridgeway Homes 02?
Bridgeway Homes 02 is committed to providing housing for individuals who are elderly and disabled, falling under the low-income bracket. This organization's primary mission is to offer a safe and comfortable living space for these individuals, ensuring they have access to appropriate housing. By providing housing, Bridgeway Homes 02 aims to support the well-being and improve the quality of life for these vulnerable individuals. The organization's activities are centered around meeting the housing needs of the elderly and disabled, thereby promoting their overall welfare.
Who is the CEO of Bridgeway Homes 02?
William Nelson is the Vice Chairman of Bridgeway Homes 02. The CEO's salary of Bridgeway Homes 02 is $0 and their total compensation is $0.
What is the revenue of Bridgeway Homes 02?
Bridgeway Homes 02's revenue in 2022 was $125,615.
Who are the executives of Bridgeway Homes 02 and what are their salaries?
Here are 8 key members and their salaries (Bridgeway Homes 02's CEO's salary is $0 and their total compensation is $0):
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Bridgeway Homes 02?
Bridgeway Homes 02's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bridgeway Homes 02
Bridgeway Homes 02 is dedicated to providing housing solutions for low-income elderly and disabled individuals. Their mission is centered around ensuring that these vulnerable groups have access to suitable living accommodations. By offering housing, Bridgeway Homes 02 aims to contribute to the well-being and independence of these individuals, enabling them to live with dignity and security. The organization's focus on housing is a crucial step towards improving the quality of life for those who often face challenges in securing safe and affordable living spaces.
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Impact
October, 2024
Bridgeway Homes 02 significantly enhances the quality of life for low-income elderly and disabled individuals in Galesburg, IL, by providing safe and affordable housing options. This initiative addresses a critical need within the community, ensuring that vulnerable populations have access to stable living conditions essential for their well-being. The impact is multifaceted, promoting not only housing stability but also fostering a sense of community and belonging among residents. By prioritizing the needs of these groups, Bridgeway Homes 02 plays a vital role in improving access to essential services, encouraging independence, and reducing the risk of homelessness among those who often face economic and social challenges.
This information is meant to be a general summary of Bridgeway Homes 02. 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: $98
- Program Service Revenue: $123,774
- Gross Receipts: $125,615
Assets and Liabilities:
- Total Assets: $919,332
- Total Liabilities: $1,838,231
- Net Assets: -$918,899
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOUSING ASSISTANCE PMT
Revenue
$86,524
APARTMENT CARRY CHARGE
Revenue
$37,250
Organization Details
Founding Year
2003
Phone
(309) 344-2323Principal Officer
William Nelson
Main Address
2323 N WINDISH DRIVE, GALESBURG, IL, 61401
NTEE Category
Code: P73 - Human services
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