Overview
What is Omega Residential?
Omega Residential is a nonprofit organization based in Gadsden, Alabama, with a focus on providing safe and appropriate housing for individuals who are intellectually, developmentally, and mentally disabled. With a workforce of 86 employees, they strive to create an environment that caters to the unique needs of those they serve. Their mission is centered around offering a secure living space, tailored to the specific requirements of the individuals involved, ensuring their well-being and dignity.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning a Two-Star out of Four Star rating.
Omega Residential has received a two-star rating from Charity Navigator, indicating some concerns regarding its financial transparency and management practices. The organization shows strengths in governance, such as having a majority of independent board members and a solid program expense ratio, suggesting a commitment to its mission. However, its overall accountability and finance score highlight significant deficiencies, particularly in the area of financial statements and transparency on its website.
While Omega Residential has a low liabilities to assets ratio, which indicates it is not heavily indebted, it lacks essential policies like a whistleblower policy and proper documentation of financial statements. These gaps may raise concerns for potential donors about the organization's governance and financial oversight. Furthermore, the absence of key financial documents posted on its website diminishes transparency and may affect trust among stakeholders.
Despite these limitations, the organization demonstrates a focus on its programs, as evidenced by a high program expense ratio. Overall, while Omega Residential shows potential through its governance structure, there is a clear need for improvement in financial reporting and transparency to earn greater trust and confidence from the public and potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Omega Residential legitimate?
Omega Residential is a legitimate nonprofit organization registered as a 501(c)(3) entity. Omega Residential 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: $1,244,595
For more financial information, click here
What is the mission statement of Omega Residential?
Omega Residential is committed to ensuring the provision of safe and suitable housing for individuals who are intellectually, developmentally, and mentally disabled. The organization aims to create an environment where these individuals can live with dignity and receive appropriate care. Their mission is centered around providing a home that caters to the unique needs of each resident, offering them a place of comfort and support. The focus is on fostering a community where these individuals can thrive and live their lives to the fullest, receiving the care they deserve.
Who is the CEO of Omega Residential?
Jimmy Lee Anderson is the President of Omega Residential.
What is the revenue of Omega Residential?
Omega Residential's revenue in 2023 was $2,120,809.
Who are the executives of Omega Residential and what are their salaries?
The average compensation at Omega Residential during 2023 was $14,472. There are 86 employees at Omega Residential.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Omega Residential?
Omega Residential's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Omega Residential
Omega Residential, a non-profit organization, is dedicated to providing safe and suitable housing for individuals who are intellectually, developmentally, and mentally disabled. The mission of this organization revolves around ensuring that these individuals have a secure and fitting environment to live in. By offering appropriate housing, Omega Residential aims to improve the quality of life for these individuals, providing them with a sense of belonging and independence. By focusing on this critical need, Omega Residential is making a significant difference in the lives of those who require specialized care and support.
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Impact
June, 2024
Omega Residential's impact can be seen in the meaningful difference it makes in the lives of intellectually, developmentally, and mentally disabled individuals by providing safe and appropriate housing. By offering a supportive and secure living environment, Omega Residential helps enhance the quality of life for its residents and promotes their well-being. This initiative contributes to fostering independence, dignity, and a sense of belonging among those with special needs in Gadsden, Alabama. Omega Residential's dedication to providing housing for this vulnerable population reflects a commitment to mental health and inclusivity within the community.
This information is meant to be a general summary of Omega Residential. 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 2023.
- Program Service Revenue: $2,118,683
- Gross Receipts: $2,120,809
Assets and Liabilities:
- Total Assets: $1,668,990
- Total Liabilities: $248,871
- Net Assets: $1,420,119
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BILLING INCOME
Revenue
$1,931,658
ROOM AND BOARD
Revenue
$187,025
Organization Details
Founding Year
2014
Phone
(256) 439-1975Principal Officer
Jimmy Lee Anderson
Main Address
400 BROAD STREET, GADSDEN, AL, 35901
NTEE Category
Code: F33 - Mental health
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