Overview
What is 620 Summit Inc?
620 Summit Inc is a nonprofit organization situated in Pewaukee, Wisconsin, with an address at 1166 Quail Court Suite 400. The primary mission of this organization is to provide affordable housing options for individuals with disabilities, adhering to Section 811 of the National Affordable Housing Act. Specifically, 620 Summit Inc operates an eight-unit apartment complex, offering a supportive living environment for those with low income and disabilities. The organization's purpose is to ensure that these individuals have access to safe and suitable housing, contributing to their overall well-being and independence.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star Rating
620 Summit Inc has received a Three-Star rating from Charity Navigator, reflecting a solid score of 79% based entirely on its Accountability and Finance metrics. This indicates a commendable level of financial health and transparency, essential for maintaining donor trust and effective operations.
The organization demonstrates a strong governance structure, with an independent board comprising 10 members and no material diversion of assets reported. Additionally, 620 Summit Inc has established comprehensive policies regarding conflicts of interest, whistleblower protections, and document retention, showcasing a commitment to ethical practices in its operations.
However, the organization faces a significant liability to assets ratio of 122.53%, which may raise concerns about its financial stability over the long term. While the program expense ratio is healthy at 88.11%, indicating that a large portion of its expenses is directed toward programs, the high liabilities could be a limitation for potential supporters assessing long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is 620 Summit Inc legitimate?
620 Summit Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 620 Summit 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:
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What is the mission statement of 620 Summit Inc?
620 Summit Inc is dedicated to fulfilling its mission under Section 811 of the National Affordable Housing Act. The organization's primary purpose is to operate an eight-unit apartment complex, providing affordable housing for individuals with disabilities who have low incomes. The goal is to offer a welcoming living space that caters specifically to this vulnerable population, ensuring they have a secure and comfortable home. 620 Summit Inc is committed to making a difference in the lives of these individuals by providing them with a place they can call home.
What is the revenue of 620 Summit Inc?
620 Summit Inc's revenue in 2024 was $71,009.
Who are the executives of 620 Summit Inc and what are their salaries?
There 14 volunteers at 620 Summit Inc.
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Where can I find the form 990 for 620 Summit Inc?
620 Summit Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of 620 Summit Inc
620 Summit Inc is a nonprofit organization with a mission to provide affordable housing for individuals with disabilities. In line with Section 811 of the National Affordable Housing Act, the organization operates an eight-unit apartment complex, offering a home to individuals with very low income and disabilities. The primary objective of 620 Summit Inc is to ensure that these individuals have access to safe and comfortable living spaces, thereby enhancing their quality of life. By providing housing under this act, the organization is contributing significantly to the well-being of people with disabilities, enabling them to live independently and with dignity.
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Impact
August, 2024
620 Summit Inc provides essential low-cost housing options for individuals with disabilities in Pewaukee, WI. By operating an 8-unit apartment complex under Section 811 of the National Affordable Housing Act, the organization fulfills its mission to offer housing to very low-income persons with disabilities. This initiative directly impacts the lives of those in need by providing them with a safe and supportive living environment, contributing to their overall well-being and quality of life.
This information is meant to be a general summary of 620 Summit 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 2024.
- Investment Income: $37
- Program Service Revenue: $70,972
- Gross Receipts: $71,009
Assets and Liabilities:
- Total Assets: $1,348,044
- Total Liabilities: $1,614,624
- Net Assets: -$266,580
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$36,099
HUD SECTION 8111 PRAC
Revenue
$34,873
Organization Details
Founding Year
2012
Principal Officer
Trevor Arnold
NTEE Category
Code: L22 - Housing
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