Overview
What is Omni Residences Inc?
Omni Residences Inc is a nonprofit organization situated in Beaumont, Texas, specifically at 1390 Broadway St. Their primary mission is dedicated to offering 15 units of subsidized housing for individuals with disabilities who have low income. This housing provision is a crucial aspect of their activity, as they strive to promote inclusivity and provide suitable living conditions for this specific population. By offering subsidized housing, Omni Residences Inc contributes to enhancing the quality of life for individuals with disabilities in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Omni Residences Inc has received a solid rating of 79%, indicating a good level of accountability and financial health. The organization boasts a fully independent board of directors, achieving top scores in both majority independent board members and independent board size. Additionally, the nonprofit has established strong governance practices, including a comprehensive conflict of interest policy and a whistleblower policy.
The charity excels in program expense efficiency, with a program expense ratio of 100%, demonstrating a commitment to direct program spending. However, it faces a significant challenge with a liabilities to assets ratio of 114.71%, which may raise concerns about its financial sustainability. This aspect highlights the importance of ongoing monitoring of the organization’s financial practices and health.
Overall, while Omni Residences Inc shows strong governance and programmatic focus, potential donors and stakeholders should consider the implications of its current liabilities in relation to assets. The organization’s commitment to transparency and accountability is commendable, establishing trust among supporters and beneficiaries alike.
This AI summary has been generated from information found on Charity Navigator.
Is Omni Residences Inc legitimate?
Omni Residences Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Omni Residences 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: $19,571
For more financial information, click here
What is the mission statement of Omni Residences Inc?
Omni Residences Inc is committed to providing housing for individuals with disabilities who have low income. Their mission is clearly stated as such, and they implement this by offering 15 units of federally subsidized housing. The organization's goal is to ensure that individuals with disabilities have access to safe and affordable housing, thereby enhancing their quality of life. They strive to be a beacon of support, providing a home where these individuals can live with dignity and independence. By offering subsidized housing, Omni Residences Inc is making a significant contribution to the community, enabling individuals with disabilities to focus on their well-being and personal growth.
Who is the CEO of Omni Residences Inc?
Yvonne Lewis is the Treasurer of Omni Residences Inc.
What is the revenue of Omni Residences Inc?
Omni Residences Inc's revenue in 2023 was $152,799.
Who are the executives of Omni Residences Inc and what are their salaries?
Here are 4 key members and their salaries:
- 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 Omni Residences Inc?
Omni Residences Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Omni Residences Inc
Omni Residences Inc, as a nonprofit organization, is dedicated to providing housing for individuals with disabilities who have low income. Their mission is to create an inclusive living environment for these individuals, ensuring they have access to safe and subsidized housing. Specifically, Omni Residences Inc provides 15 units of housing that are federally subsidized, catering to this specific population. This housing is crucial in enabling these individuals to live independently, with the necessary support and resources, thereby enhancing their overall quality of life.
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Impact
October, 2024
Omni Residences Inc significantly impacts the community by providing 15 units of federally subsidized housing specifically designed for low-income individuals with disabilities. By offering this vital support, the organization enhances the quality of life for residents, ensuring they have access to safe and affordable housing. This initiative not only addresses housing instability but also fosters a sense of community and belonging among individuals who may face additional challenges due to their disabilities. Located in Beaumont, TX, Omni Residences Inc plays a crucial role in promoting inclusivity and independence for some of society's most vulnerable members.
This information is meant to be a general summary of Omni Residences 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 2023.
- Investment Income: $614
- Program Service Revenue: $152,185
- Gross Receipts: $152,799
Assets and Liabilities:
- Total Assets: $1,202,016
- Total Liabilities: $1,378,924
- Net Assets: -$176,908
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$114,072
HUD SECTION 8 RENTAL A
Revenue
$38,113
Organization Details
Founding Year
2003
Phone
(409) 833-8947Principal Officer
Yvonne Lewis
Main Address
1390 BROADWAY ST, BEAUMONT, TX, 77701
NTEE Category
Code: L22 - Housing
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