Overview
What is Raise-Op Housing Cooperative?
Raise-Op Housing Cooperative is a nonprofit organization situated in Lewiston, Maine, specifically at 145 Pierce St 102. Its primary mission is to provide its members with safe and affordable housing, operating on a non-profit basis. The cooperative takes pride in maintaining clean buildings and common spaces, offering a range of housing options to cater to diverse needs. Raise-Op Housing Cooperative also promotes stewardship, ensuring responsible management of its land, buildings, and assets. The cooperative's activities are geared towards offering a secure living environment for its members. With a small team of two employees, Raise-Op Housing Cooperative is dedicated to delivering quality housing services.
Official website here: www.raiseop.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Overall Score: 73% (Two-Star out of Four Star rating)
Raise-Op Housing Cooperative has received a Two-Star rating from Charity Navigator, indicating that while the organization demonstrates some strengths, there are significant areas for improvement. Notably, it has a high percentage of independent board members and exhibits a strong program expense ratio, allocating 88.40% of its resources directly to its programs. This commitment to program expenses reflects a focus on its mission.
However, the organization faces limitations in crucial operational aspects, particularly concerning transparency and governance policies. The absence of financial statements, a whistleblower policy, and document retention guidelines points to potential weaknesses in accountability practices. Additionally, the tax form required to be published on the nonprofit's website is missing, further detracting from its overall rating.
In summary, while Raise-Op Housing Cooperative shows dedication to its programmatic efforts and maintains a fully independent board, it must address significant gaps in financial transparency and governance to improve its standing and build trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Raise-Op Housing Cooperative legitimate?
Raise-Op Housing Cooperative is a legitimate nonprofit organization registered as a 501(c)(3) entity. Raise-Op Housing Cooperative 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: $90,738
For more financial information, click here
Official website here: www.raiseop.com
What is the mission statement of Raise-Op Housing Cooperative?
The Raise-Op Housing Cooperative's mission is centered around operating housing that is both safe and affordable, with a unique aspect of democratic control by its members on a non-profit basis. They strive to provide a variety of housing options while maintaining clean buildings and common spaces. Additionally, the cooperative encourages stewardship of its assets, including the land and buildings, ensuring their long-term sustainability.
Official website here: www.raiseop.com
Who is the CEO of Raise-Op Housing Cooperative?
Shaad Masood is the President of Raise-Op Housing Cooperative.
Official website here: www.raiseop.com
What is the revenue of Raise-Op Housing Cooperative?
Raise-Op Housing Cooperative's revenue in 2022 was $963,863.
Official website here: www.raiseop.com
Who are the executives of Raise-Op Housing Cooperative and what are their salaries?
The average compensation at Raise-Op Housing Cooperative during 2022 was $45,369. There are 2 employees and 50 volunteers at Raise-Op Housing Cooperative.
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Official website here: www.raiseop.com
Where can I find the form 990 for Raise-Op Housing Cooperative?
Raise-Op Housing Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.raiseop.com
Learn more at the official website: www.raiseop.com
Mission Statement of Raise-Op Housing Cooperative
Raise-Op Housing Cooperative, a non-profit organization, is committed to operating safe and affordable housing that is democratically controlled by its members. This mission is carried out by providing residents with quality, energy-efficient housing, maintaining clean buildings and common spaces, and offering various housing options. The cooperative also encourages its members to practice stewardship over the land, buildings, and the cooperative's assets, ensuring the sustainability and success of the community.
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Impact
July, 2024
Raise-Op Housing Cooperative's impact is centered around providing safe, quality, affordable, and energy-efficient housing options in Lewiston, ME. The cooperative operates with a democratic member-controlled structure, ensuring that its members have a say in the management and decision-making processes. By maintaining clean buildings and common spaces, offering a variety of housing options, and promoting stewardship of the land and assets, Raise-Op contributes to the well-being of its community and fosters a sense of ownership and responsibility among its members.
This information is meant to be a general summary of Raise-Op Housing Cooperative. 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: $43
- Program Service Revenue: $248,239
- Gross Receipts: $963,863
Assets and Liabilities:
- Total Assets: $2,075,829
- Total Liabilities: $292,289
- Net Assets: $1,783,540
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$173,239
DEVELOPMENT FEE INCOME
Revenue
$75,000
Organization Details
Founding Year
2014
Phone
(207) 200-1596Principal Officer
Shaad Masood
Main Address
145 PIERCE ST 102, LEWISTON, ME, 04240
Website
www.raiseop.comNTEE Category
Code: L20 - Housing
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