Overview
What is River Acres Community Inc?
River Acres Community Inc is a nonprofit organization situated in Missoula, Montana, specifically at 1920 River Road 16. Its primary mission is to offer an affordable housing alternative for low- and moderate-income residents. By purchasing a manufactured home property, the organization ensures that its tenants have a plot of land to set up their homes and maintains the most affordable lot rents possible. With 31 lots in the park, River Acres Community Inc aims to provide a welcoming and supportive living environment, contributing to the well-being of its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement - 65%
River Acres Community Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement in its accountability and financial practices. While the organization scored well in areas such as having a fully independent board and no material diversion of assets, it fell short in several key governance policies. The absence of a whistleblower policy and document retention protocols, along with a lack of transparency regarding its tax form on the nonprofit's website, raises concerns.
Despite these weaknesses, the organization demonstrates a strong commitment to its programmatic activities, as evidenced by a high program expense ratio of 93.30%. This suggests that a significant portion of its resources is directed toward fulfilling its mission. However, the liabilities to assets ratio of 90.76% is a notable red flag, pointing to potential financial stability issues that could impact future operations.
Overall, while River Acres Community Inc shows promise through its strong governance in some areas, the highlighted limitations in its policies and transparency practices warrant attention. Improvements in these areas could enhance its rating and community trust.
This AI summary has been generated from information found on Charity Navigator.
Is River Acres Community Inc legitimate?
River Acres Community Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. River Acres Community 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
For more financial information, click here
What is the mission statement of River Acres Community Inc?
River Acres Community Inc, as an organization, was established with a mission to provide a viable housing alternative for individuals and families with modest to low incomes. By forming this community, River Acres aims to offer an affordable housing option, recognizing the financial limitations of its residents. To fulfill this mission, the organization acquired a manufactured home property, ensuring its residents have a plot of land to keep their purchased homes on. The organization strives to maintain the lowest lot rents possible, aligning with the financial capacities of its tenants, and currently manages 31 lots within the park.
Who is the CEO of River Acres Community Inc?
Michael Garrido is the President of River Acres Community Inc.
What is the revenue of River Acres Community Inc?
River Acres Community Inc's revenue in 2022 was $140,988.
Who are the executives of River Acres Community Inc and what are their salaries?
There 1 volunteer at River Acres Community Inc.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for River Acres Community Inc?
River Acres Community Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of River Acres Community Inc
River Acres Community Inc, a nonprofit organization, was established with a mission to provide an affordable housing alternative for low-income and moderate-income residents. Recognizing the financial constraints of its target population, River Acres sought to offer a viable housing option. To accomplish this, the organization purchased a property with manufactured home lots, ensuring that the residents could maintain their purchased homes on a plot of land while keeping the rental costs as low as possible. With 31 lots available in the park, River Acres Community Inc is dedicated to supporting its residents by offering them an affordable housing solution that suits their limited income.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
River Acres Community Inc significantly impacts the lives of low and moderate-income residents in Missoula, MT, by providing an essential affordable housing option. By acquiring and managing a manufactured home property, River Acres ensures that residents have access to a stable and secure place to live, with a focus on maintaining the lowest possible lot rents. This allows families and individuals with limited incomes to keep their manufactured homes on their own plots of land, thereby fostering a sense of community and stability.
With 31 lots available in the park, River Acres creates a supportive environment where residents can thrive without the overwhelming financial burden often associated with housing. This initiative not only alleviates housing insecurity but also contributes to the overall well-being of the community by promoting housing accessibility and affordability. By securing a reliable living space for its residents, River Acres plays a crucial role in addressing the pressing issue of low-income housing in the region.
This information is meant to be a general summary of River Acres Community 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: $13
- Program Service Revenue: $140,975
- Gross Receipts: $140,988
Assets and Liabilities:
- Total Assets: $888,018
- Total Liabilities: $828,066
- Net Assets: $59,952
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOTS RENTED TO MEMBERS
Revenue
$140,975
Organization Details
Founding Year
2013
Phone
(406) 829-9498Principal Officer
Michael Garrido
Main Address
1920 RIVER ROAD 16, MISSOULA, MT, 59801
NTEE Category
Code: L99 - Housing
If you are a representative of River Acres Community Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.