Overview
What is Fairhaven Corporation?
Fairhaven Corporation, established in 1962, is a nonprofit life plan community affiliated with the Wisconsin Conference of the United Church of Christ. Situated in Whitewater, Wisconsin, Fairhaven offers a variety of senior living options, including independent apartments, assisted living, supportive living, memory care, and skilled nursing care. With a community-based residential facility license for 150 beds, the corporation provides life lease entrance fee and monthly fee agreements. Fairhaven's mission is to offer housing and services, promoting dignity and well-being while enriching the spiritual, intellectual, cultural, and recreational aspects of its residents' lives. The organization also operates Prairie Village, an independent patio home community for seniors aged 55 and above, located nearby. As of 2021 and 2022, 65 duplex units were in use at the main campus. With a workforce of approximately 200 employees, Fairhaven Corporation is dedicated to ensuring the comfort and well-being of its senior residents.
Official website here: www.fairhaven.org
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 90%, Four-Star out of Four Star Rating**
Fairhaven Corporation has earned a commendable 90% rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The organization scored a perfect 100% in this category, showcasing effective governance practices, including a predominantly independent board and comprehensive audit oversight. However, it fell slightly short in transparency with its tax form missing from the nonprofit's website, impacting its overall financial score.
The organization exhibits a high program expense ratio of nearly 92%, indicating that a significant portion of its funding is directed towards its programs and services, which bolsters its credibility among donors. Despite this positive financial management, Fairhaven Corporation has a liabilities to assets ratio of 58.60%, suggesting that it may have a moderate level of debt compared to its assets.
User reviews from GreatNonprofits could not be fetched, so no specific sentiments from the community are available at this time. Overall, Fairhaven Corporation demonstrates strong financial accountability and governance but may benefit from improving its transparency regarding financial documentation.
This AI summary has been generated from information found on Charity Navigator.
Is Fairhaven Corporation legitimate?
Fairhaven Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fairhaven Corporation 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: $258,782
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,636,320
For more financial information, click here
Official website here: www.fairhaven.org
What is the mission statement of Fairhaven Corporation?
Fairhaven Corporation's mission is centered around providing housing and services to senior adults, upholding dignity and promoting well-being. This encompasses spiritual, intellectual, cultural, and recreational vitality. Established in 1962, the corporation has been offering a range of living options, including independent apartments, assisted living, supportive living, memory care, and skilled nursing care. The mission extends to fostering an environment that supports the spiritual, intellectual, cultural, and recreational needs of its residents, thereby enhancing their overall quality of life.
Official website here: www.fairhaven.org
Who is the CEO of Fairhaven Corporation?
Paul Kuenning is the Chairman Of Board of Fairhaven Corporation.
Official website here: www.fairhaven.org
What is the revenue of Fairhaven Corporation?
Fairhaven Corporation's revenue in 2022 was $8,670,991.
Official website here: www.fairhaven.org
Who are the executives of Fairhaven Corporation and what are their salaries?
The average compensation at Fairhaven Corporation during 2022 was $19,476. There are 200 employees and 16 volunteers at Fairhaven Corporation.
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Official website here: www.fairhaven.org
Where can I find the form 990 for Fairhaven Corporation?
Fairhaven Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fairhaven.org
Learn more at the official website: www.fairhaven.org
Mission Statement of Fairhaven Corporation
Fairhaven Corporation, a nonprofit life plan community, is dedicated to providing housing and services that promote dignity and well-being for senior adults. Established in 1962, this organization offers a comprehensive range of facilities and care options, including independent apartments, assisted living, supportive living, memory care, and skilled nursing care. The mission of Fairhaven Corporation is deeply rooted in spiritual, intellectual, cultural, and recreational vitality, aiming to enhance the quality of life for its residents.
The corporation's mission is not just limited to physical care but also encompasses the spiritual and intellectual well-being of its residents. It strives to create an environment that fosters spiritual growth, intellectual stimulation, and cultural and recreational activities. This approach aims to enrich the lives of its residents, ensuring they maintain their dignity and live in a vibrant community. The services offered by Fairhaven Corporation are designed to support its residents through various stages of life, ensuring they receive the care and companionship they need to live comfortably and with purpose.
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Impact
July, 2024
Fairhaven Corporation's impact is significant in promoting dignity and well-being for senior adults through its housing and services. Since 1962, Fairhaven Corporation has been serving residents in Whitewater, Wisconsin, offering a range of accommodations from independent apartments to skilled nursing care. The Corporation's mission is to provide services that promote spiritual, intellectual, cultural, and recreational vitality, enhancing the quality of life for seniors. Through its various living options and care services, Fairhaven Corporation plays a crucial role in supporting the well-being of senior adults and ensuring they receive the care and support they need to thrive.
This information is meant to be a general summary of Fairhaven Corporation. 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: $115,712
- Program Service Revenue: $8,518,816
- Gross Receipts: $8,676,264
Assets and Liabilities:
- Total Assets: $31,058,260
- Total Liabilities: $18,200,454
- Net Assets: $12,857,806
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PRIVATE PAY
Revenue
$6,295,351
MEDICAID/MEDICARE
Revenue
$1,651,604
ENTRY FEES
Revenue
$571,861
Organization Details
Founding Year
1962
Phone
(262) 473-2140Principal Officer
Paul Kuenning
Main Address
435 STARIN ROAD, WHITEWATER, WI, 53190
Website
www.fairhaven.orgNTEE Category
Code: P75Z - Human services
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