Overview
What is Furnishing Hope Of Massachusetts Inc?
Furnishing Hope Of Massachusetts Inc, established in 2012, is a nonprofit organization based in Cambridge, Massachusetts. Their primary mission is to provide essential household goods and furniture to families in need, collaborating with charitable and other organizations that serve disadvantaged individuals. In 2022, despite the ongoing challenges from the pandemic, the organization thrived, collecting donations and reducing warehouse storage costs through a partnership with Household Goods of Acton, MA. They maintained relationships with 24 referral agencies and served 81 families, distributing inventory worth $59,401.71 and an additional $2,103.50 worth of inventory. Program expenses primarily covered moving expenses for delivering inventory. The organization, with a single employee, operates on written agreements with other organizations to offer support to their clients.
Official website here: www.furnishinghopema.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (65%)
Furnishing Hope Of Massachusetts Inc has received a two-star rating from Charity Navigator, indicating a "Needs Improvement" status. The organization has demonstrated strengths in areas such as having a fully independent board, with a perfect score in both the majority independent board members and board size categories. Additionally, there are no reported material diversions of assets, and the charity's website is properly listed on its tax form.
However, there are significant areas of concern that have adversely impacted the charity's overall score. Notably, the organization lacks critical policies such as a whistleblower policy and a document retention and destruction policy, both of which received zero points. Furthermore, the charity has not posted its tax form on its website, which raises transparency issues. The program expense ratio is also below expectations, with a score of only 7 out of 25 points.
Overall, while Furnishing Hope Of Massachusetts Inc has established a solid governance structure, its deficiencies in policy implementation and financial transparency suggest that potential donors should exercise caution and seek further information before contributing.
This AI summary has been generated from information found on Charity Navigator.
Is Furnishing Hope Of Massachusetts Inc legitimate?
Furnishing Hope Of Massachusetts Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Furnishing Hope Of Massachusetts 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: $47,114
For more financial information, click here
Official website here: www.furnishinghopema.org
What is the mission statement of Furnishing Hope Of Massachusetts Inc?
Furnishing Hope of Massachusetts Inc's mission is centered around collecting and storing household goods, with the intent of distributing and delivering these items to disadvantaged individuals and families who are in need of financial assistance. This is done in collaboration with or upon referral by charitable and other organizations that serve such individuals or groups. The organization's primary goal is to provide basic furniture and household goods to those in need, ensuring they have the essentials to improve their living conditions. Despite the challenges posed by the pandemic, Furnishing Hope of Massachusetts Inc's activities continue to thrive, with a significant reduction in storage costs and the distribution of inventory valued at $59,401.71 to 81 families in 2022. The organization also purchased and distributed additional inventory, incurring program expenses of $33,800 for moving expenses.
Official website here: www.furnishinghopema.org
What is the revenue of Furnishing Hope Of Massachusetts Inc?
Furnishing Hope Of Massachusetts Inc's revenue in 2023 was $220,820.
Official website here: www.furnishinghopema.org
Who are the executives of Furnishing Hope Of Massachusetts Inc and what are their salaries?
The average compensation at Furnishing Hope Of Massachusetts Inc during 2023 was $47,114. There is 1 employee and 30 volunteers at Furnishing Hope Of Massachusetts Inc.
Here are 8 key members and their salaries:
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Official website here: www.furnishinghopema.org
Where can I find the form 990 for Furnishing Hope Of Massachusetts Inc?
Furnishing Hope Of Massachusetts Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.furnishinghopema.org
Learn more at the official website: www.furnishinghopema.org
Mission Statement of Furnishing Hope Of Massachusetts Inc
Furnishing Hope of Massachusetts Inc, a nonprofit organization established in 2012, is dedicated to collecting and storing household goods for distribution and delivery to individuals and families in need. This is done in collaboration with and upon referral by charitable and other organizations that serve disadvantaged individuals or groups. The organization's primary mission is to provide basic furniture and household items to these families, ensuring they have the essentials they need to live comfortably.
The nonprofit operates on formal written agreements with various referring agencies. These agencies identify and qualify individuals or families in need, and Furnishing Hope of Massachusetts Inc then provides them with the necessary furnishings. In 2022, despite the ongoing challenges posed by the pandemic, the organization continued to thrive. It collected furniture donations and significantly reduced its warehouse storage costs through a collaboration with Household Goods of Acton, MA. The nonprofit maintained its arrangements with 24 referring agencies, with 18 of them referring clients to the organization that year.
In connection with these referrals, Furnishing Hope of Massachusetts Inc distributed inventory worth $59,401.71 to 81 families, including 152 children and 93 adults. The organization also purchased and distributed additional inventory valued at $2,103.50. Program expenses of $33,800.00 covered moving expenses for the pick-up and delivery of inventory to the organization's clients. The value of the inventory is based on the purchase price of new items and valuation guidelines, based on thrift store values, published by similar organizations for used items. This mission of Furnishing Hope of Massachusetts Inc ensures that families in need receive the essentials they require, enhancing their quality of life and providing them with a sense of security and stability.
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Impact
October, 2024
Furnishing Hope of Massachusetts Inc. significantly impacts individuals and families facing financial challenges by providing essential household goods and furniture. By collaborating with various charitable organizations, it ensures that those in need receive vital support. In 2022, the organization assisted 81 families, including 152 children and 93 adults, delivering goods with a collective value exceeding $59,000, sourced predominantly through generous in-kind donations.
The organization operates efficiently, maintaining relationships with 24 referral agencies that assist in identifying qualified clients who require help. Its logistical efforts, including moving expenses for the pick-up and delivery of inventory, streamline the process and enhance the accessibility of these essential items. This model not only addresses immediate needs but also helps alleviate the emotional burden of transitioning into stable living conditions for many households.
Furthermore, the collaboration with Household Goods of Acton has allowed Furnishing Hope to reduce storage costs and optimize its operational capacity, showcasing the importance of community partnerships in amplifying their impact. Overall, the organization plays a crucial role in fostering stability and uplifting disadvantaged individuals and families in the Cambridge area and beyond.
This information is meant to be a general summary of Furnishing Hope Of Massachusetts 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: $6
- Program Service Revenue: $10,094
- Gross Receipts: $220,820
Assets and Liabilities:
- Total Assets: $26,926
- Total Liabilities: $0
- Net Assets: $26,926
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
AUCTION
Revenue
$6,320
RAFFLE/ICE PARTY TICKE
Revenue
$3,774
Organization Details
Founding Year
2012
Principal Officer
Suzanne L Palitz
Website
www.furnishinghopema.orgNTEE Category
Code: P60 - Human services
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