Overview
What is Winona Arms Inc?
Winona Arms Inc, situated in Minneapolis, Minnesota, is a nonprofit organization that specializes in providing affordable housing for senior citizens with lower income levels. The organization operates a 49-unit senior citizen housing project situated in Winona, Minnesota. Their primary mission is to ensure quality housing for this demographic, thereby contributing to their well-being and comfort.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (58%)
Winona Arms Inc has received a One-Star out of Four Star rating from Charity Navigator, reflecting significant challenges in its accountability and finance practices. The rating is based entirely on a score of 58% for Accountability & Finance, indicating areas of concern that could affect donor trust and financial transparency.
The organization maintains a fully independent board, achieving high scores in this aspect, which shows a commitment to governance. Additionally, it has a perfect program expense ratio, demonstrating that all expenses are directed towards its mission. However, critical weaknesses include a high liabilities to assets ratio and several missing policies, which contribute to the low overall score.
In summary, while Winona Arms Inc shows strengths in governance and program expenses, the absence of essential policies and high liability ratios raise red flags regarding its financial health and operational transparency. Donors should consider these factors when assessing their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Winona Arms Inc legitimate?
Winona Arms Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Winona Arms 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 Winona Arms Inc?
Winona Arms Inc, as an organization, is committed to providing affordable housing for senior citizens with lower income levels. Their mission is reflected in the high-quality senior citizen housing project they own and operate, which aims to meet the housing needs of this specific demographic. By doing so, they contribute to ensuring that senior citizens, regardless of their financial situation, have access to suitable living accommodations.
Who is the CEO of Winona Arms Inc?
Joseph Holmberg is the President of Winona Arms Inc.
What is the revenue of Winona Arms Inc?
Winona Arms Inc's revenue in 2023 was $498,084.
Who are the executives of Winona Arms Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Winona Arms Inc?
Winona Arms Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Winona Arms Inc
Winona Arms Inc, as a nonprofit organization, is dedicated to providing affordable housing for lower income senior citizens. This mission is reflected in their ownership and operation of a 49-unit senior housing project, which aims to offer quality living spaces to this specific demographic. The organization's commitment to this cause is evident in its focus on Winona, Minnesota, where it has established a residential community that caters to the housing needs of senior citizens with limited income. By providing affordable housing, Winona Arms Inc contributes to the well-being and independence of its residents, allowing them to maintain a comfortable living standard.
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Impact
July, 2024
Winona Arms Inc's impact is evident in the provision of affordable housing for lower-income senior citizens in Winona, Minnesota. Through its ownership and operation of a 49-unit senior citizen housing project, Winona Arms Inc plays a crucial role in ensuring that this vulnerable demographic has access to quality housing. This impact directly addresses the housing needs of lower-income seniors, contributing to their well-being and quality of life in the community.
This information is meant to be a general summary of Winona Arms 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.
- Investment Income: $1,495
- Program Service Revenue: $496,589
- Gross Receipts: $498,084
Assets and Liabilities:
- Total Assets: $1,722,769
- Total Liabilities: $1,750,235
- Net Assets: -$27,466
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$496,589
Organization Details
Founding Year
1984
Phone
(612) 377-0549Principal Officer
Joseph Holmberg
Main Address
2507 LAKE PLACE, MINNEAPOLIS, MN, 55405
NTEE Category
Code: L22 - Housing
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