Overview
What is Rth Mission Park Realty Corporation?
Rth Mission Park Realty Corporation is a Massachusetts nonprofit organization, established to support and further the charitable activities of Roxbury Tenants of Harvard Association, Inc. The corporation primarily focuses on acquiring, owning, and operating real property to benefit Roxbury Tenants of Harvard Association. According to the provided information, Rth Mission Park Realty Corporation has leased a 775-unit affordable housing project, including residential and recreational buildings, in Mission Hill, Boston, to Mission Park Limited Partnership. The organization's mission revolves around the betterment of Roxbury Tenants of Harvard Association, ensuring that their purposes and functions are effectively carried out. The corporation, with a workforce of only two individuals, is dedicated to making a positive impact through real estate ventures.
Official website here: www.roxburytenants.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 84% (Three-Star out of Four Star rating)
Rth Mission Park Realty Corporation has received an 84% score from Charity Navigator, indicating a solid level of accountability and financial health. The rating is strongly influenced by the organization's commitment to maintaining an independent board, with 100% of board members being independent and a well-structured oversight committee. This suggests a high level of governance and integrity in managing the charity's resources.
The financial performance of the organization is commendable, with a program expense ratio of 89.37%, indicating that a significant majority of its expenditures are directed towards its programs rather than administrative costs. This focus on programmatic spending demonstrates a commitment to effectively utilizing donations for their intended purpose. Additionally, the organization has shown no material diversion of assets, which further strengthens its financial standing.
However, there are some areas for improvement, notably the absence of a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy. These missing elements could raise concerns about governance practices and transparency. Addressing these issues would enhance the organization’s accountability and could potentially elevate its rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Rth Mission Park Realty Corporation legitimate?
Rth Mission Park Realty Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rth Mission Park Realty Corporation 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: $59,182
For more financial information, click here
Official website here: www.roxburytenants.org
What is the mission statement of Rth Mission Park Realty Corporation?
The Rth Mission Park Realty Corporation was established specifically to support the charitable activities of Roxbury Tenants of Harvard Association, Inc., a Massachusetts non-profit organization. Its primary role is to benefit, carry out, and perform the functions of Roxbury Tenants of Harvard Association, Inc. The Corporation's main objective is to further the purposes and activities of this charitable organization. The Corporation oversees and manages an affordable housing project, leasing the property to Mission Park Limited Partnership, a Massachusetts limited partnership controlled by the Corporation. This long-term lease allows the Corporation to contribute to the mission and goals of Roxbury Tenants of Harvard Association, Inc.
Official website here: www.roxburytenants.org
Who is the CEO of Rth Mission Park Realty Corporation?
Karen T Gately is the Executive Di of Rth Mission Park Realty Corporation.
Official website here: www.roxburytenants.org
What is the revenue of Rth Mission Park Realty Corporation?
Rth Mission Park Realty Corporation's revenue in 2022 was $19,995,197.
Official website here: www.roxburytenants.org
Who are the executives of Rth Mission Park Realty Corporation and what are their salaries?
The average compensation at Rth Mission Park Realty Corporation during 2022 was $29,591. There are 2 employees at Rth Mission Park Realty Corporation.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $170,693
- Other: $18,703
- Compensation: $0
- Related: $11,225
- Other: $0
- Compensation: $0
- Related: $10,125
- Other: $0
- Compensation: $0
- Related: $8,325
- Other: $0
- Compensation: $0
- Related: $7,625
- Other: $0
Official website here: www.roxburytenants.org
Where can I find the form 990 for Rth Mission Park Realty Corporation?
Rth Mission Park Realty Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.roxburytenants.org
Learn more at the official website: www.roxburytenants.org
Mission Statement of Rth Mission Park Realty Corporation
Rth Mission Park Realty Corporation, a charitable organization, was established to support and carry out the functions and purposes of Roxbury Tenants of Harvard Association, Inc., a Massachusetts non-profit corporation. This corporation operates exclusively for charitable activities, as defined by section 501(c)(3) of the Internal Revenue Code.
Rth Mission Park Realty Corporation's primary role is to benefit and further the objectives of Roxbury Tenants of Harvard Association, Inc. To accomplish this mission, the corporation holds the lease for a 775-unit affordable housing project, which includes residential and related recreational buildings. This lease is granted to Mission Park Limited Partnership, a Massachusetts limited partnership controlled by Rth, under the terms of a long-term agreement.
By leasing the housing project to Mission Park Limited Partnership, Rth Mission Park Realty Corporation ensures that the property is managed in a way that supports and furthers the goals of Roxbury Tenants of Harvard Association, Inc. This arrangement not only allows the non-profit organization to maintain control over the affordable housing project but also enables it to continue its mission to provide essential housing services to the community. The corporation's commitment to its charitable purpose extends beyond the lease, as it remains dedicated to fostering a thriving and affordable living environment for its residents.
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Impact
October, 2024
Rth Mission Park Realty Corporation plays a significant role in addressing housing challenges and supporting community development in the Mission Hill neighborhood of Boston. By focusing on affordable housing initiatives, the organization has successfully leased a 775-unit affordable housing project that serves as a vital resource for residents.
This project not only provides essential housing options but also aims to enhance the quality of life for tenants through related recreational facilities. By collaborating closely with the Roxbury Tenants of Harvard Association, Rth Mission Park Realty Corporation helps to ensure that the needs of the community are met, fostering a sense of stability and belonging among residents.
Through its operations, the corporation contributes to the broader goal of sustainable community development, addressing housing instability, and promoting social equity within the area. Its commitment to acquiring and managing real estate assets significantly impacts the availability of affordable housing, making a lasting difference for many families in Boston.
This information is meant to be a general summary of Rth Mission Park Realty Corporation. 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: $1,030,798
- Program Service Revenue: $18,958,345
- Gross Receipts: $19,995,197
Assets and Liabilities:
- Total Assets: $192,061,743
- Total Liabilities: $1,782,487
- Net Assets: $190,279,256
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM-RELATED INCOME
Revenue
$12,038,226
RENTS
Revenue
$6,920,119
Organization Details
Founding Year
2013
Phone
(617) 232-4306Principal Officer
Karen T Gately
Main Address
11 NEW WHITNEY STREET, BOSTON, MA, 02115
Website
www.roxburytenants.orgNTEE Category
Code: L11 - Housing
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