Overview
What is Chestnut Resolutions Inc Nfp?
Chestnut Resolutions Inc Nfp is a nonprofit organization situated in Bloomington, Illinois. Their primary mission is to provide seven low-income housing units for individuals with disabilities and their families. This organization aims to contribute positively to the community by providing a secure living environment for those in need, thereby enhancing their quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 59%, One-Star out of Four Star rating.
Chestnut Resolutions Inc Nfp has received a score of 59%, reflecting significant concerns in its governance and financial practices. The organization lacks an independent board, scoring 0 out of 10 points in both the majority independent board members and independent board size categories. Although some operational policies, such as those addressing conflicts of interest and whistleblower protections, are well established, critical areas like board independence and transparency remain unaddressed.
Strengths of the organization include a perfect score in program expense ratio, indicating that the majority of its funds are directed towards program services. Additionally, it has demonstrated adherence to certain governance policies, scoring full marks in document retention and destruction practices. However, the absence of a posted tax form on its website and the low score in the liabilities to assets ratio raise concerns about financial transparency and sustainability.
Overall, while Chestnut Resolutions Inc Nfp shows merit in its program expenditures and has some solid operational policies, the lack of an independent board and transparency issues significantly hinder its rating. Prospective donors and stakeholders may want to consider these limitations when assessing the organization’s overall effectiveness and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Chestnut Resolutions Inc Nfp legitimate?
Chestnut Resolutions Inc Nfp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chestnut Resolutions Inc Nfp 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: $10,960
For more financial information, click here
What is the mission statement of Chestnut Resolutions Inc Nfp?
Chestnut Resolutions Inc Nfp, as an organization, is committed to providing seven low-income housing units specifically for individuals with disabilities and their families. This mission is aimed at offering a living space that caters to those with unique needs, thereby contributing to their overall well-being. The objective is to make housing more accessible and inclusive for this particular community. The organization's activities revolve around the provision of suitable housing units, ensuring that those with disabilities and their families have a place to call home.
Who is the CEO of Chestnut Resolutions Inc Nfp?
David A Sharar is the Chair Of Board of Chestnut Resolutions Inc Nfp.
What is the revenue of Chestnut Resolutions Inc Nfp?
Chestnut Resolutions Inc Nfp's revenue in 2022 was $101,012.
Who are the executives of Chestnut Resolutions Inc Nfp and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $312,535
- Other: $79,597
- Compensation: $0
- Related: $240,992
- Other: $60,912
- Compensation: $0
- Related: $172,144
- Other: $14,932
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Chestnut Resolutions Inc Nfp?
Chestnut Resolutions Inc Nfp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Chestnut Resolutions Inc Nfp
Chestnut Resolutions Inc Nfp is a nonprofit organization dedicated to providing housing solutions for individuals and families living with disabilities. Their primary mission is to offer seven low-income housing units specifically designed to cater to this demographic. By doing so, Chestnut Resolutions Inc Nfp aims to create a supportive living environment where these individuals can thrive and lead independent lives. The nonprofit's commitment to this cause reflects their belief in the importance of equal housing opportunities for all, regardless of their abilities.
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Impact
October, 2024
Chestnut Resolutions Inc Nfp significantly contributes to the well-being of the community by providing seven low-income housing units specifically designated for individuals with disabilities and their families. By addressing the critical need for affordable housing options, the organization empowers vulnerable populations to secure stable living conditions, which is essential for their independence and quality of life.
Located in Bloomington, Illinois, the initiative not only alleviates housing insecurity but also fosters a supportive environment that promotes inclusivity and social cohesion. This effort directly impacts families by offering them a safe and accessible living space, reducing the risk of homelessness and the associated stresses that come with it.
Moreover, by focusing on individuals with disabilities, Chestnut Resolutions Inc Nfp plays a vital role in combating social isolation and marginalization. The organization's commitment to low-income housing enhances community safety and cohesion, which is particularly important in urban areas where crime rates can be a concern. By advocating for and providing adequate housing, the organization contributes to a healthier, more stable community overall.
This information is meant to be a general summary of Chestnut Resolutions Inc Nfp. 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: $22
- Program Service Revenue: $32,661
- Gross Receipts: $101,012
Assets and Liabilities:
- Total Assets: $654,627
- Total Liabilities: $1,287,833
- Net Assets: -$633,206
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$30,381
LAUNDRY AND VENDING
Revenue
$2,280
Organization Details
Founding Year
2006
Phone
(309) 827-6026Principal Officer
David A Sharar
Main Address
1003 MARTIN LUTHER KING DRIVE, BLOOMINGTON, IL, 61701
NTEE Category
Code: I20 - Crime
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