Overview
What is Savin Rock Communities Inc?
Savin Rock Communities Inc, located in West Haven, Connecticut, serves as a general partner in the Meadow Landing Partnership and offers management services to this partnership. The organization's primary mission is to provide safe, clean, and suitable living accommodations to individuals of low, moderate, and middle income in the state of Connecticut. They achieve this goal through various means, including ownership, construction, development, renovation, improvement, sponsorship, financing, refinancing, management, leasing, and operation of specific real estate properties. The organization's activities and mission are centered around enhancing living conditions and accommodations for individuals with moderate income levels in Connecticut.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Savin Rock Communities Inc has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 71%. While the organization demonstrates strong governance, with 80% of its board members being independent, it falls short in several key areas. The absence of financial statements and missing policies related to conflict of interest and whistleblower protections highlight significant accountability concerns.
Despite these limitations, the nonprofit excels in its program expense ratio, allocating over 84% of its resources directly to its programs. The organization has also reported no material diversion of assets, indicating sound financial management in that aspect. However, the lack of transparency, particularly with its financial documentation and website disclosures, presents challenges to potential donors seeking to evaluate the organization's efficacy fully.
Overall, while Savin Rock Communities Inc shows certain strengths in its operational framework and commitment to program funding, the need for improvements in financial transparency and governance policies remains a notable area for development.
This AI summary has been generated from information found on Charity Navigator.
Is Savin Rock Communities Inc legitimate?
Savin Rock Communities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Savin Rock Communities 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: $523,938
For more financial information, click here
What is the mission statement of Savin Rock Communities Inc?
Savin Rock Communities Inc is committed to providing safe, sanitary, and suitable living accommodations for individuals of low, moderate, and middle income residing in Connecticut. They achieve this goal through various means, including ownership, construction, development, renovation, improvement, sponsorship, financing, refinancing, management, leasing, and operation of specific real estate properties. The organization serves as a general partner in the Meadow Landing Partnership and offers management services to this partnership.
Who is the CEO of Savin Rock Communities Inc?
John Counter is the President of Savin Rock Communities Inc.
What is the revenue of Savin Rock Communities Inc?
Savin Rock Communities Inc's revenue in 2022 was $4,287,266.
Who are the executives of Savin Rock Communities Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $8,000
- Related: $0
- Other: $0
- Compensation: $8,000
- Related: $0
- Other: $0
- Compensation: $8,000
- Related: $0
- Other: $0
- Compensation: $8,000
- Related: $0
- Other: $0
- Compensation: $8,000
- Related: $0
- Other: $0
Where can I find the form 990 for Savin Rock Communities Inc?
Savin Rock Communities Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Savin Rock Communities Inc
Savin Rock Communities Inc, as a mission-driven organization, is committed to providing safe, sanitary, and suitable living accommodations for individuals of low, moderate, and middle income in the state of Connecticut. They accomplish this through various means, including the ownership, construction, development, renovation, improvement, sponsorship, financing, refinancing, management, leasing, and operation of certain pieces or parcels of real property. In essence, Savin Rock Communities Inc seeks to enhance the living conditions of a significant portion of the population, contributing to a more equitable and comfortable living environment.
The organization's mission is multifaceted and encompasses a range of activities. It starts with acquiring suitable properties and transforming them into habitable spaces. This could involve constructing new buildings, renovating existing ones, or even developing new communities from the ground up. Savin Rock Communities Inc also provides financing and refinancing services, making it easier for individuals to secure housing. In addition to these tangible contributions, the organization offers management services, ensuring that the properties they oversee remain well-maintained and functional. Overall, Savin Rock Communities Inc is dedicated to improving the living standards of individuals in Connecticut by providing them with quality housing options.
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Impact
July, 2024
Savin Rock Communities Inc's impact lies in providing safe, sanitary, and suitable living accommodations to individuals of low, moderate, and middle income in the state of Connecticut. By owning, constructing, developing, renovating, improving, sponsoring, financing, refinancing, managing, leasing, and operating various pieces of real property, the organization plays a vital role in addressing housing needs within the community. This contributes to enhancing the quality of life and ensuring housing stability for those in need.
This information is meant to be a general summary of Savin Rock Communities 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: $11,860
- Program Service Revenue: $4,275,406
- Gross Receipts: $4,287,266
Assets and Liabilities:
- Total Assets: $7,525,612
- Total Liabilities: $896,174
- Net Assets: $6,629,438
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$4,275,406
Organization Details
Founding Year
2015
Phone
(203) 934-8671Principal Officer
John Counter
Main Address
15 GLADE STREET, WEST HAVEN, CT, 06516
NTEE Category
Code: L21 - Housing
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