Overview
What is Paragon Partnership?
Paragon Partnership is a nascent nonprofit organization situated in Cutler Bay, Florida. Their primary mission is to offer affordable housing to young adults who have exited the foster care system. To maintain residence in these accommodations, individuals must be actively engaged in post-secondary educational or vocational institutions. The organization is currently making substantial strides towards achieving its tax-exempt purpose.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58% (One-Star out of Four Stars)
Paragon Partnership has received a rating of 58%, which translates to a One-Star designation, indicating that there are significant concerns regarding its accountability and financial practices. This score is solely based on the Accountability & Finance beacon, and while it excels in having a majority of independent board members and documenting board meeting minutes, it struggles in several critical areas.
The organization has a perfect score in its program expense ratio, signifying that 100% of its expenses are dedicated to its programs. However, it faces challenges with a high liabilities to assets ratio, indicating potential financial instability. Additionally, the absence of essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy raises red flags about its governance practices.
While Paragon Partnership operates as an independent entity and receives substantial support from governmental units or the public, the lack of transparency reflected by missing tax forms on its website could deter potential donors. Improving these areas could significantly enhance the organization's trustworthiness and overall financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Paragon Partnership legitimate?
Paragon Partnership is a legitimate nonprofit organization registered as a 501(c)(3) entity. Paragon Partnership 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: $3,328
For more financial information, click here
What is the mission statement of Paragon Partnership?
The organization, Paragon Partnership, is committed to providing affordable housing for young adults who have transitioned out of foster care. The primary condition for maintaining residency within the organization is that the individual is enrolled in post-secondary educational or vocational institutions. Despite being in its initial stages of development, Paragon Partnership has made significant progress towards achieving its tax-exempt purpose.
What is the revenue of Paragon Partnership?
Paragon Partnership's revenue in 2024 was $42,560.
Who are the executives of Paragon Partnership and what are their salaries?
There 1 volunteer at Paragon Partnership.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Paragon Partnership?
Paragon Partnership's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Paragon Partnership
Paragon Partnership, a budding organization, is dedicated to providing affordable housing for young adults who have transitioned out of foster care. The primary criterion for residency in this housing is enrollment in a post-secondary educational or vocational institution. This initiative aims to support these individuals as they continue their educational journeys, equipping them with the necessary skills for independent living. Despite being in its early stages, Paragon Partnership has made significant strides towards achieving its exempt purpose.
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Impact
August, 2024
Paragon Partnership's impact can be seen in the lives of young adults who have aged out of foster care. By providing low-cost housing and requiring residents to be enrolled in post-secondary educational or vocational programs, Paragon Partnership is helping these individuals transition into independent, successful adulthood. This support not only addresses immediate housing needs but also empowers these young adults to pursue further education and build a stable foundation for their future. Through its focused mission, Paragon Partnership is making a meaningful difference in the lives of those who need support during this critical period of transition.
This information is meant to be a general summary of Paragon Partnership. 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: $2
- Program Service Revenue: $25,290
- Gross Receipts: $42,560
Assets and Liabilities:
- Total Assets: $412,818
- Total Liabilities: $328,031
- Net Assets: $84,787
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$25,290
Organization Details
Founding Year
2012
Principal Officer
Vicky Sfalanga
NTEE Category
Code: L40 - Housing
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