Overview
What is Homestead Residence Inc?
Homestead Residence Inc, located at 3879 Packard Road STE Unit A, Ann Arbor, MI 48108, is a nonprofit organization dedicated to offering comprehensive support for adults facing mental illness, age-related challenges, homelessness, and developmental disabilities. Their primary mission encompasses providing round-the-clock residential services, ensuring a secure living environment, preparing meals, and providing 24-hour staffing. The organization's care extends beyond basic needs, including medication management, safety measures, and transportation to all necessary outside appointments. With a workforce of 35 employees, Homestead Residence Inc strives to improve the lives of those in need, offering a supportive and nurturing environment for growth and recovery.
What are the reviews and ratings of this charity?
67% rating from Charity Navigator indicates that Homestead Residence Inc has earned a Two-Star out of Four Star rating, which reflects a moderate level of accountability and financial health. The organization demonstrates strong governance practices, with a fully independent board and no material diversion of assets, contributing positively to its overall score.
One of the notable strengths of Homestead Residence Inc is its high program expense ratio of 92.94%, indicating that a significant portion of its resources is directed towards its programs rather than administrative costs. This is a positive sign for donors looking for effective use of their contributions. Additionally, the organization documents board meeting minutes, which adds to its transparency.
However, despite its strengths, the overall score of 67% suggests that there are areas for improvement in accountability and finance. While the organization maintains a solid governance structure, further enhancements in financial management and reporting could elevate its rating and appeal to potential supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Homestead Residence Inc legitimate?
Homestead Residence Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homestead Residence 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: $656,511
For more financial information, click here
What is the mission statement of Homestead Residence Inc?
Homestead Residence Inc is dedicated to offering round-the-clock residential services to adults who are mentally ill, elderly, homeless, and developmentally disabled. Their mission is geared towards ensuring these individuals receive secure living accommodations, meals, 24-hour staffing, medication management, safety, and transportation for all their outside appointments.
Who is the CEO of Homestead Residence Inc?
Hyacinth Akunne is the President of Homestead Residence Inc.
What is the revenue of Homestead Residence Inc?
Homestead Residence Inc's revenue in 2023 was $742,882.
Who are the executives of Homestead Residence Inc and what are their salaries?
The average compensation at Homestead Residence Inc during 2023 was $18,757. There are 35 employees at Homestead Residence Inc.
Here are 4 key members and their salaries:
- Compensation: $23,999
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Homestead Residence Inc?
Homestead Residence Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Homestead Residence Inc
The Homestead Residence Inc, a dedicated nonprofit organization, is committed to providing round-the-clock residential services for adults struggling with mental illness, the elderly, and those who are homeless or developmentally disabled. Their mission is to create a secure and supportive environment for these individuals, offering them meals, 24-hour staffing, medication management, and transportation to and from all necessary appointments. The organization's primary goal is to ensure the safety and well-being of each resident while they navigate their daily lives. Through their unwavering dedication, Homestead Residence Inc aims to make a meaningful difference in the lives of those they serve.
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Impact
June, 2024
Homestead Residence Inc provides round-the-clock residential services to adults with mental illness, the aged, homeless, and developmentally disabled individuals. Their impact can be seen in the improved quality of life for those placed in their facilities, as they provide secured residence, meals, 24-hour staffing, medication management, safety, and transportation to and from outside appointments. Their presence in Ann Arbor, MI, fulfills their mission to offer comprehensive residential services to vulnerable populations, making a significant impact on the well-being and support of these individuals.
This information is meant to be a general summary of Homestead Residence 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: $742,882
- Gross Receipts: $742,882
Assets and Liabilities:
- Total Assets: $163,846
- Total Liabilities: $0
- Net Assets: $163,846
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
County CMH
Revenue
$742,882
Organization Details
Founding Year
2006
Principal Officer
Hyacinth Akunne
Main Address
3879 PACKARD ROAD STE UNIT A, Ann Arbor, MI, 48108
NTEE Category
Code: F33 - Mental health
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