Overview
What is Silver Flower Homes Inc?
Silver Flower Homes Inc, established in January 2012 in Rockville, Maryland, is a nonprofit organization dedicated to addressing the housing needs of individuals with disabilities. Financed by the U.S. Department of Housing and Urban Development (HUD) under Section 811 of the National Affordable Housing Act, the organization operates seven housing units. The mission of Silver Flower Homes Inc is to provide affordable housing options for chronically mentally disabled individuals, ensuring their access to suitable living environments. The entity is regulated by HUD in terms of rental charges and operational methods, aiming to make housing more accessible for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56% (One-Star out of Four Stars)
Silver Flower Homes Inc has received a low score of 56%, indicating significant concerns regarding its financial health and overall accountability. While the organization boasts a perfect score for having an independent board and documents board meeting minutes, the high liabilities to assets ratio of 134.41% raises red flags about its financial sustainability.
The organization demonstrates a relatively strong program expense ratio at 68.11%, suggesting that a significant portion of its funds is directed towards its mission-related activities. However, the notable liabilities relative to its assets could hinder its ability to continue operations effectively in the long term.
Furthermore, the compensation for key personnel, particularly the President at $169,245, may also be viewed as a limitation by stakeholders who prioritize lower administrative costs. Overall, while Silver Flower Homes Inc has strengths in governance and program expenditure, its financial ratios indicate a need for improvement to ensure long-term viability and donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Silver Flower Homes Inc legitimate?
Silver Flower Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Silver Flower Homes 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 Silver Flower Homes Inc?
Silver Flower Homes Inc, established in 2012, is dedicated to providing affordable housing for individuals with disabilities. This mission is in line with Section 811 of the National Affordable Housing Act. The organization constructs and operates housing facilities and related services, specifically for persons with disabilities, with financial support from the U.S. Department of Housing and Urban Development (HUD). HUD regulates these entities, overseeing rent charges and operating methods, to ensure affordable and suitable living conditions for the disabled population.
Who is the CEO of Silver Flower Homes Inc?
Susanne Sinclair-Smith is the President of Silver Flower Homes Inc.
What is the revenue of Silver Flower Homes Inc?
Silver Flower Homes Inc's revenue in 2022 was $61,352.
Who are the executives of Silver Flower Homes Inc and what are their salaries?
There 5 volunteers at Silver Flower Homes Inc.
Here are 5 key members and their salaries:
- Compensation: $169,245
- Related: $0
- Other: $11,742
- Compensation: $0
- 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 Silver Flower Homes Inc?
Silver Flower Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Silver Flower Homes Inc
Silver Flower Homes Inc, a nonprofit organization established in 2012, is dedicated to providing affordable housing for individuals with chronic mental disabilities. This mission is in line with Section 811 of the National Affordable Housing Act, a federal provision that Silver Flower Homes utilizes to fulfill its purpose. The entity, which consists of seven units, is regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rental charges and operating methods. Silver Flower Homes Inc strives to create a living environment that is accessible and suitable for individuals with disabilities, thereby contributing to their overall well-being.
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Impact
August, 2024
Silver Flower Homes Inc has a significant impact on the community by providing affordable housing to the chronically mentally disabled under Section 811 of the National Affordable Housing Act. This organization, based in Rockville, MD, operates housing and related facilities specifically designed for persons with disabilities. By offering a stable and supportive living environment, Silver Flower Homes Inc helps improve the quality of life for individuals who may face challenges in finding suitable housing options. Through its mission to provide affordable housing to disabled persons, this nonprofit contributes to addressing the housing needs of a vulnerable population, promoting inclusivity and independence within the community.
This information is meant to be a general summary of Silver Flower Homes 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: $22
- Program Service Revenue: $13,245
- Gross Receipts: $61,352
Assets and Liabilities:
- Total Assets: $1,016,884
- Total Liabilities: $1,366,865
- Net Assets: -$349,981
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$13,245
Organization Details
Founding Year
2012
Phone
(301) 217-0314Principal Officer
Susanne Sinclair-Smith
Main Address
405 E GUDE DRIVE, ROCKVILLE, MD, 20850
NTEE Category
Code: L21 - Housing
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