Overview
What is Burlington Homes Inc?
Burlington Homes Inc, based in Burlington, North Carolina, is a nonprofit organization with a mission to provide suitable housing for low-income and disabled elderly individuals. They operate a 100-unit apartment complex specifically designed for this demographic, offering them a secure and comfortable living environment. The organization's primary activity revolves around this housing project, ensuring that the most vulnerable members of society have access to safe and affordable accommodation.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, Two-Star out of Four Star Rating
Burlington Homes Inc has received a 67% rating from Charity Navigator, which translates to a Two-Star rating. This indicates that while the organization exhibits some commendable practices, it faces significant areas for improvement, particularly regarding accountability and finance. The charity has shown strengths in its governance, with a fully independent board and robust financial auditing practices, ensuring proper oversight and transparency in its operations.
One of the standout features is the high program expense ratio of 98.03%, suggesting that the majority of its funds are directed towards its programs rather than administrative costs. Additionally, the organization appears to maintain good documentation practices for board meetings and has not reported any material diversion of assets, which reflects positively on its financial integrity. However, the nonprofit struggles with critical policies and documentation, including the absence of a conflict of interest policy and whistleblower policy, which are crucial for maintaining transparency and accountability.
The high liabilities to assets ratio of 90.15% raises concerns regarding the organization's financial health, indicating a potential risk in managing its debts compared to its assets. Furthermore, the lack of publicly posted tax forms and other essential policies may hinder stakeholder trust and the overall perception of the organization’s operational standards. Addressing these weaknesses could enhance Burlington Homes Inc's accountability and improve its overall rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Burlington Homes Inc legitimate?
Burlington Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Burlington Homes 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: $0
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What is the mission statement of Burlington Homes Inc?
Burlington Homes Inc is dedicated to providing housing for individuals who fall under the categories of low and very low income, specifically for the elderly and disabled population. This mission is fulfilled through the operation of a 100-unit apartment complex. The organization's primary goal is to offer a suitable living environment for these vulnerable individuals, ensuring they have a place to call home. The apartment complex serves as a refuge, offering a sense of security and community, thereby improving their quality of life.
Who is the CEO of Burlington Homes Inc?
Veronica Revels is the Chair of Burlington Homes Inc.
What is the revenue of Burlington Homes Inc?
Burlington Homes Inc's revenue in 2022 was $904,169.
Who are the executives of Burlington Homes Inc and what are their salaries?
There 6 volunteers at Burlington Homes Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Burlington Homes Inc?
Burlington Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Burlington Homes Inc
Burlington Homes Inc, a nonprofit organization, is dedicated to providing housing for individuals who fall within the low and very low income categories, specifically focusing on the elderly and disabled population. Their mission is to create a living space for this specific demographic in a 100-unit apartment complex. By offering suitable housing, Burlington Homes Inc aims to contribute positively to the well-being and independence of these individuals, enabling them to maintain a comfortable living environment.
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Impact
July, 2024
Burlington Homes Inc's impact can be seen in its provision of housing for low and very low-income elderly and disabled individuals in a 100-unit apartment complex located in Burlington, NC. By offering affordable housing options to vulnerable populations in need, the organization plays a crucial role in addressing housing insecurity and improving the quality of life for these individuals. Furthermore, Burlington Homes Inc's mission aligns with the goal of promoting inclusivity and support for those facing economic challenges, thereby contributing positively to the community's social fabric and well-being.
This information is meant to be a general summary of Burlington Homes 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 2022.
- Investment Income: $751
- Program Service Revenue: $431,169
- Gross Receipts: $904,169
Assets and Liabilities:
- Total Assets: $5,958,599
- Total Liabilities: $5,415,102
- Net Assets: $543,497
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL PAYMENTS
Revenue
$399,089
TENANT CHARGES
Revenue
$26,260
LAUNDRY & VENDING
Revenue
$5,820
Organization Details
Founding Year
2013
Phone
(336) 266-8421Principal Officer
Veronica Revels
Main Address
PO BOX 2380, BURLINGTON, NC, 272162380
NTEE Category
Code: L21 - Housing
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