Overview
What is First Montclair Housing Corp 1 Inc?
First Montclair Housing Corp 1 Inc is a nonprofit organization dedicated to serving the housing needs of low-income senior citizens. Their primary mission is to offer suitable living accommodations for this demographic, ensuring they have access to safe and comfortable housing. By providing housing, the organization aims to enhance the quality of life for these senior citizens, thereby contributing positively to their community. The organization's activities are centered around this mission, making housing a top priority.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
First Montclair Housing Corp 1 Inc has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The organization's score is primarily derived from its excellent performance in the Accountability & Finance category, reflecting a strong commitment to transparency and responsible financial management.
The nonprofit boasts an independent board of directors, with 100% of its members being independent, and a well-structured board size. Its financial oversight is commendable, as evidenced by the perfect scores in areas such as audit and oversight committee and the absence of any material diversion of assets. Additionally, a high program expense ratio of 93.03% shows that the majority of its funds are being directed towards its programs rather than administrative costs.
While the organization exhibits numerous strengths in governance and financial management, the overall rating suggests there may be areas for improvement. However, the strong foundation in accountability positions First Montclair Housing Corp 1 Inc favorably among its peers in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is First Montclair Housing Corp 1 Inc legitimate?
First Montclair Housing Corp 1 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Montclair Housing Corp 1 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: $580,288
For more financial information, click here
What is the mission statement of First Montclair Housing Corp 1 Inc?
First Montclair Housing Corp 1 Inc is committed to serving the housing needs of low-income senior citizens. Their primary mission is to provide suitable living spaces for this demographic, ensuring they have a comfortable and secure environment. The corporation's activities revolve around offering housing solutions, catering specifically to the income level and age group of senior citizens. This organization is dedicated to enhancing the living conditions of this particular population, contributing to their overall well-being.
Who is the CEO of First Montclair Housing Corp 1 Inc?
Elsie Barrick is the President of First Montclair Housing Corp 1 Inc.
What is the revenue of First Montclair Housing Corp 1 Inc?
First Montclair Housing Corp 1 Inc's revenue in 2022 was $2,716,917.
Who are the executives of First Montclair Housing Corp 1 Inc and what are their salaries?
The average compensation at First Montclair Housing Corp 1 Inc during 2022 was $36,268. There are 16 employees at First Montclair Housing Corp 1 Inc.
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for First Montclair Housing Corp 1 Inc?
First Montclair Housing Corp 1 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of First Montclair Housing Corp 1 Inc
First Montclair Housing Corp 1 Inc, as a nonprofit organization, is dedicated to serving the needs of low-income senior citizens by providing them with suitable housing. This mission is twofold; the corporation aims to provide housing, and it does so specifically for individuals who fall into the category of low-income senior citizens. By offering housing, First Montclair Housing Corp 1 Inc contributes to enhancing the living conditions of its target demographic, thereby promoting their overall well-being and quality of life.
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Impact
July, 2024
First Montclair Housing Corp 1 Inc provides essential housing for low-income senior citizens in Montclair, NJ. By offering affordable housing options, they contribute to addressing the pressing issue of housing insecurity among this vulnerable population. Their impact can be seen in the improved quality of life and stability that their housing assistance provides to elderly individuals in need. Additionally, their work helps to create a sense of community and support for seniors who may not have access to suitable housing options otherwise.
This information is meant to be a general summary of First Montclair Housing Corp 1 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.
- Program Service Revenue: $566,362
- Gross Receipts: $2,716,917
Assets and Liabilities:
- Total Assets: $7,969,373
- Total Liabilities: $3,575,048
- Net Assets: $4,394,325
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOUSING FOR ELDERLY
Revenue
$566,362
Organization Details
Founding Year
2005
Phone
(976) 746-0895Principal Officer
Elsie Barrick
Main Address
56 WALNUT ST, MONTCLAIR, NJ, 07042
NTEE Category
Code: L20Z - Housing
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