Overview
What is Hadc Ridgeway?
Hadc Ridgeway is a nonprofit organization primarily focused on owning and managing low-income assisted living facilities for the elderly. Established with a mission to grow with the senior population, Hadc Ridgeway operates two facilities in New Ulm, Minnesota: Ridgeway on 23rd and Ridgeway on German. The former houses 48 assisted living units and 13 memory care units, while the latter offers 44 assisted living units and 11 memory care units. Both complexes cater to a portion of low-income tenants. Committed to providing independence and privacy, Hadc Ridgeway continually adapts to the evolving needs and trends of the senior community in the area.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 79% (Three-Star out of Four Star rating)
Hadc Ridgeway earns a Three-Star rating from Charity Navigator, reflecting a solid performance primarily based on its accountability and finance score. The organization has demonstrated a strong commitment to financial transparency, achieving a high program expense ratio of 95.09%, indicating that a significant portion of its funds is directed towards its mission. Additionally, the charity has a fully independent board, which is a positive indicator of governance and oversight.
Strengths noted in the assessment include the establishment of various governance policies, such as those for conflict of interest and whistleblower protections. Furthermore, Hadc Ridgeway maintains an audit and oversight committee, which is crucial for ensuring the integrity of financial reporting and operations. The absence of material asset diversion further enhances the organization’s credibility.
However, while the financial management appears robust, the rating reflects reliance on a single beacon score, which may limit the overall evaluation of the organization’s effectiveness. Potential donors should consider this when assessing the charity's impact and outcomes in relation to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Hadc Ridgeway legitimate?
Hadc Ridgeway is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hadc Ridgeway 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: $2,242,379
For more financial information, click here
What is the mission statement of Hadc Ridgeway?
Hadc Ridgeway, through its involvement in the acquisition, construction, rehabilitation, and management of various rental housing units, strives to provide affordable housing options for low to moderate income individuals. The organization aims to improve living conditions for its residents, particularly the elderly, by operating two assisted living facilities with units for both assisted living and memory care. Their mission is to foster independence and privacy, and to adapt to the evolving needs of the senior population they serve, ensuring they remain at the forefront of providing premier assisted living communities.
Who is the CEO of Hadc Ridgeway?
Paul Abzug is the Ceo/President of Hadc Ridgeway. The CEO's salary of Hadc Ridgeway is $0 and their total compensation is $347,466.
What is the revenue of Hadc Ridgeway?
Hadc Ridgeway's revenue in 2022 was $4,188,248.
Who are the executives of Hadc Ridgeway and what are their salaries?
There 12 volunteers at Hadc Ridgeway.
Here are 5 key members and their salaries (Hadc Ridgeway's CEO's salary is $0 and their total compensation is $347,466):
- Compensation: $0
- Related: $6,500
- Other: $0
- Compensation: $0
- Related: $7,000
- Other: $0
- Compensation: $0
- Related: $6,000
- Other: $0
- Compensation: $0
- Related: $308,026
- Other: $39,440
- Compensation: $0
- Related: $0
- Other: $386,998
Where can I find the form 990 for Hadc Ridgeway?
Hadc Ridgeway's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hadc Ridgeway
Hadc Ridgeway, as an organization, is dedicated to owning, managing, and operating low to moderate income housing. Through the acquisition, construction, rehabilitation, and operation of various rental housing units, Hadc Ridgeway strives to provide accommodations for individuals with modest incomes. The mission of Hadc Ridgeway is to offer a premium assisted living experience that emphasizes independence and privacy, catering to the evolving needs and trends of the senior population. This commitment is reflected in the operation of two assisted living facilities for the elderly, Ridgeway on 23rd and Ridgeway on German. These facilities provide a mix of assisted living units and memory care assisted living units, with a portion of the units reserved for low-income tenants.
Initially, Ridgeway on German was established in the New Ulm community in 1998, meeting the needs of the local senior population. Over time, Hadc Ridgeway has identified and addressed growing demands in the area, leading to the expansion into Ridgeway on 23rd. By focusing on the needs of the senior population they serve, Hadc Ridgeway aims to be at the forefront of providing top-tier assisted living communities, ensuring they can cater to the needs of the elderly population both now and in the future.
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Impact
July, 2024
HADC Ridgeway's impact is primarily focused on providing affordable housing options for low to moderate-income individuals, particularly the elderly. Through the ownership, management, and operation of assisted living facilities in New Ulm, Minnesota, Ridgeway aims to address the housing needs of this vulnerable population. By offering a combination of assisted living and memory care units, Ridgeway on 23rd and Ridgeway on German cater to the specific requirements of elderly residents, ensuring they receive the necessary support and care in a comfortable setting.
Ridgeway's contribution to the community extends beyond housing, as they emphasize independence and privacy for their residents, promoting a sense of dignity and autonomy among the senior population they serve. By adapting to the changing needs and trends in the area, Ridgeway has shown a commitment to growing and evolving with the community, demonstrating a long-term dedication to supporting seniors both now and in the future. In doing so, Ridgeway plays a vital role in enhancing the quality of life for elderly individuals in New Ulm and contributes significantly to addressing the affordable housing challenges faced by low-income tenants in the area.
This information is meant to be a general summary of Hadc Ridgeway. 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: $10,926
- Program Service Revenue: $4,175,241
- Gross Receipts: $4,188,248
Assets and Liabilities:
- Total Assets: $7,093,558
- Total Liabilities: $9,168,702
- Net Assets: -$2,075,144
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental/Assisted Living
Revenue
$3,685,129
Resident Meals Revenue
Revenue
$283,063
Personal Care Pkgs
Revenue
$128,125
TIF Receipts
Revenue
$37,775
Garage/Laundry Inc.
Revenue
$3,721
Organization Details
Founding Year
1998
Phone
(952) 473-1103Principal Officer
Paul Abzug
Main Address
18336 Minnetonka Blvd Suite C, Deephaven, MN, 55391
NTEE Category
Code: L20 - Housing
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