Overview
What is Rolling Meadows Homes Cooperative Co Carryl Co?
Rolling Meadows Homes Cooperative Co Carryl Co is a nonprofit organization situated in Madison, Wisconsin. Their primary focus is on providing senior citizen housing. They achieve this by developing and selling residential units with a tax-exempt status, while securing operating funds through regular monthly dues from their senior resident population. This community-oriented organization is dedicated to ensuring comfortable living accommodations for elderly individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (50%)
Rolling Meadows Homes Cooperative Co Carryl Co has received a one-star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization scored low in several key areas, particularly in financial statement transparency and adherence to governance policies, raising questions about its operational integrity.
The nonprofit does demonstrate some strengths, such as having a fully independent board, which exemplifies governance maturity. It also maintains a high program expense ratio, suggesting that funds are directed primarily towards its mission-driven activities. However, the lack of required financial disclosures and policies, including a conflict of interest and whistleblower policy, severely impacts the overall perception of accountability.
In order to improve its rating and trustworthiness, Rolling Meadows Homes Cooperative Co Carryl Co must address the significant shortcomings in financial reporting and policy implementation. Enhancing transparency and establishing robust governance practices would be essential steps toward fostering greater confidence among stakeholders and potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Rolling Meadows Homes Cooperative Co Carryl Co legitimate?
Rolling Meadows Homes Cooperative Co Carryl Co is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rolling Meadows Homes Cooperative Co Carryl Co 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
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What is the mission statement of Rolling Meadows Homes Cooperative Co Carryl Co?
Rolling Meadows Homes Cooperative Co Carryl Co is dedicated to providing senior citizen housing. They achieve this mission by developing and selling residential units with a tax-exempt status, while generating operational funds through regular dues paid by the senior residents. The cooperative's primary goal is to cater to the housing needs of the elderly population. Located in an undisclosed location, their mission remains focused on ensuring senior citizens have access to suitable living arrangements.
Who is the CEO of Rolling Meadows Homes Cooperative Co Carryl Co?
Ray Lukesic is the President of Rolling Meadows Homes Cooperative Co Carryl Co.
What is the revenue of Rolling Meadows Homes Cooperative Co Carryl Co?
Rolling Meadows Homes Cooperative Co Carryl Co's revenue in 2022 was $511,087.
Who are the executives of Rolling Meadows Homes Cooperative Co Carryl Co 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 Rolling Meadows Homes Cooperative Co Carryl Co?
Rolling Meadows Homes Cooperative Co Carryl Co's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rolling Meadows Homes Cooperative Co Carryl Co
Rolling Meadows Homes Cooperative Co Carryl Co is dedicated to providing senior citizen housing. This nonprofit organization achieves its mission by developing and selling residential units with a tax-exempt status. The operating funds for this mission are sourced through the collection of monthly dues from senior citizens residing in these units. By offering senior citizen housing, Rolling Meadows Homes Cooperative Co Carryl Co aims to provide a living space that caters specifically to the needs and comforts of its elderly residents. The organization's commitment to senior citizen housing ensures that this population has access to suitable and affordable housing options.
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Impact
July, 2024
Rolling Meadows Homes Cooperative Co Carryl Co's impact lies in providing quality senior citizen housing in Madison, WI. Through the development and sale of residential units with a tax-exempt status, this organization ensures that senior citizens have access to affordable housing options. The monthly dues collected from members contribute to the operating funds, enabling Rolling Meadows to sustain its mission of offering housing solutions for senior citizens. By emphasizing the importance of senior housing, Rolling Meadows plays a crucial role in addressing the housing needs of this demographic in the community.
This information is meant to be a general summary of Rolling Meadows Homes Cooperative Co Carryl Co. 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: $392
- Program Service Revenue: $510,695
- Gross Receipts: $511,087
Assets and Liabilities:
- Total Assets: $9,529,750
- Total Liabilities: $10,805,074
- Net Assets: -$1,275,324
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$324,695
SALE OF SHARES OF UNIT
Revenue
$186,000
Organization Details
Founding Year
1992
Phone
(608) 222-9580Principal Officer
Ray Lukesic
Main Address
PO BOX 8154, MADISON, WI, 53708
NTEE Category
Code: L22Z - Housing
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