Overview
What is The Russell House Inc?
The Russell House Inc, established in 1979, is a Virginia-based nonprofit corporation. Its primary mission is to construct and manage an apartment project, specifically designed for the elderly and disabled individuals with limited financial resources. This project adheres to Section 202 of the National Housing Act and receives Section 8 rental assistance from the HUD. The organization's primary goal is to provide suitable housing for this specific demographic, ensuring they have a safe and comfortable living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement, Score: 60%)
The Russell House Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in its operations and financial performance. While the organization has a solid structure with 100% independent board members and a robust audit and oversight committee, its financial metrics raise concerns, particularly a liabilities to assets ratio of 73.93%, which suggests potential financial instability.
Strengths of the organization include strong governance practices, with all board members being independent and documented meeting minutes available. Additionally, the program expense ratio of 64.03% reflects a commitment to spending a significant portion of its budget on its programs, which is a positive aspect of its operations.
However, the overall financial health of The Russell House Inc appears to be a significant area of concern. The low score in the liabilities to assets ratio indicates that the organization may face challenges in managing its debts relative to its assets. This financial issue, coupled with the need for improvement in overall ratings, suggests that potential donors should consider these factors carefully before contributing.
This AI summary has been generated from information found on Charity Navigator.
Is The Russell House Inc legitimate?
The Russell House Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Russell House 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $387,804
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What is the mission statement of The Russell House Inc?
The Russell House Inc, as a non-profit organization, operates an apartment project under Section 202 of the National Housing Act. The primary objective of this initiative is to provide housing for elderly and disabled individuals who have limited financial resources. Established in 1979, the organization constructed a 119-unit apartment project in Virginia Beach, VA, offering Section 8 rental assistance from HUD. The mission of The Russell House Inc can be summarized as aiming to provide affordable and accessible housing solutions for those in need, particularly the elderly and disabled population with financial constraints.
Who is the CEO of The Russell House Inc?
Jeffrey Betcher is the Director of The Russell House Inc.
What is the revenue of The Russell House Inc?
The Russell House Inc's revenue in 2022 was $1,288,584.
Who are the executives of The Russell House Inc and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for The Russell House Inc?
The Russell House Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Russell House Inc
The Russell House Inc, a non-profit organization, is dedicated to providing housing solutions for elderly and disabled individuals with limited financial resources. Established in 1979, the organization operates an apartment project under Section 202 of the National Housing Act. This project serves as a refuge for these individuals, offering them a place to call home. The Russell House Inc receives Section 8 rental assistance from the HUD, ensuring that the rent remains affordable for its residents. The organization's mission is to provide a safe and supportive living environment for these vulnerable individuals, enabling them to live with dignity and independence.
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Impact
July, 2024
The Russell House Inc's impact lies in providing affordable housing for elderly and disabled individuals with limited financial resources. Through its operation of a 119-unit apartment project in Virginia Beach, the organization serves a critical need in the community by offering a safe and supportive living environment for those in need. By leveraging Section 202 of the National Housing Act and receiving Section 8 rental assistance from HUD, The Russell House Inc plays a significant role in addressing housing insecurity among vulnerable populations, promoting well-being and stability for its residents.
This information is meant to be a general summary of The Russell House 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: -$16,855
- Program Service Revenue: $442,045
- Gross Receipts: $1,307,346
Assets and Liabilities:
- Total Assets: $3,776,963
- Total Liabilities: $2,792,406
- Net Assets: $984,557
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME TENANTS
Revenue
$425,137
LAUNDRY/VENDING INCOME
Revenue
$13,157
OTHER INCOME
Revenue
$3,751
Organization Details
Founding Year
1978
Phone
(757) 481-0770Principal Officer
Jeffrey Betcher
Main Address
900 FIRST COLONIAL ROAD, VIRGINIA BEACH, VA, 23454
NTEE Category
Code: L22 - Housing
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