Overview
What is Bram Institute Corporation?
The Bram Institute Corporation is a nonprofit organization situated in Madison, Wisconsin, specifically at 7 N Pinkney Street 120. Their primary mission is to provide housing solutions for families experiencing financial hardships, those displaced due to urban renewal initiatives or government actions, as well as families affected by major disasters. In these circumstances, where suitable housing is scarce, the Bram Institute Corporation offers 34 rental units as a response. Their core activity involves the provision of affordable housing to lower-income families. With a modest workforce of four individuals, they strive to meet the housing needs of their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (67%)
The Bram Institute Corporation has received a two-star rating from Charity Navigator, indicating that while some aspects of the organization are strong, significant areas require improvement. The accountability and finance score is impressive at 100%, demonstrating sound management of financial resources. However, the lack of independent board members raises concerns about governance and oversight.
While the organization excels in financial transparency, as evidenced by full points for financial statements and a favorable liabilities to assets ratio, it lacks essential policies such as conflict of interest and whistleblower protections. Moreover, the absence of listed documents on its website, including the tax form, limits public access to critical information about the nonprofit's operations.
Despite these shortcomings, the program expense ratio is robust at 86.13%, suggesting that a large portion of funds is directed towards the organization's mission. Addressing governance issues and enhancing transparency would greatly benefit the Bram Institute Corporation and improve its overall standing in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Bram Institute Corporation legitimate?
Bram Institute Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bram Institute 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $80,133
For more financial information, click here
What is the mission statement of Bram Institute Corporation?
Bram Institute Corporation's mission is centered around providing housing solutions for families in need. Specifically, they focus on providing homes for lower income families, families displaced due to urban renewal initiatives or government actions, and families affected by major disasters, where suitable housing options are scarce. Currently, they have provided 34 rental units to cater to these groups. The corporation aims to address the housing challenges faced by these vulnerable populations, thereby contributing to their overall well-being.
Who is the CEO of Bram Institute Corporation?
Margaret Porco is the Treasurer of Bram Institute Corporation.
What is the revenue of Bram Institute Corporation?
Bram Institute Corporation's revenue in 2023 was $568,866.
Who are the executives of Bram Institute Corporation and what are their salaries?
The average compensation at Bram Institute Corporation during 2023 was $20,033. There are 4 employees at Bram Institute Corporation.
Here are 3 key members and their salaries:
- 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 Bram Institute Corporation?
Bram Institute Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Bram Institute Corporation
The Bram Institute Corporation, as a nonprofit organization, is dedicated to providing rental housing for families in need. Specifically, the institution aims to accommodate lower income families, as well as those who have been displaced due to urban renewal initiatives or major disasters, where suitable housing options are scarce. With a commitment to assisting these groups, the Bram Institute Corporation has successfully provided 34 rental units to meet their housing requirements. This mission underscores the organization's role in offering a vital shelter solution to individuals and families who are struggling to secure adequate housing.
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Impact
July, 2024
Bram Institute Corporation's impact lies in providing essential rental housing to low-income families in Madison, Wisconsin. By offering 34 rental units, they address the critical need for affordable housing for families who have been displaced due to urban renewal, government actions, or major disasters where no adequate housing is available. Bram Institute Corporation plays a crucial role in supporting vulnerable populations by ensuring they have a safe and stable place to live, contributing to the overall well-being of the community.
This information is meant to be a general summary of Bram Institute 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 2023.
- Investment Income: $83,270
- Program Service Revenue: $485,596
- Gross Receipts: $568,866
Assets and Liabilities:
- Total Assets: $1,146,529
- Total Liabilities: $153,745
- Net Assets: $992,784
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APARTMENT RENTAL
Revenue
$485,596
Organization Details
Founding Year
1981
Phone
(608) 255-2759Principal Officer
Margaret Porco
Main Address
7 N PINCKNEY STREET 120, MADISON, WI, 53703
NTEE Category
Code: L20 - Housing
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