Overview
What is Banor Housing Inc?
Banor Housing Inc, based in Kensington, Maryland, is a dedicated nonprofit organization that focuses on providing affordable housing solutions for moderate and low-income elderly and disabled individuals. On September 1, 2020, Banor Housing Inc sold a property, highlighting their active role in the real estate sector. The organization's primary mission revolves around offering comfortable housing options to those in need, ensuring they can maintain a dignified living standard.
Official website here: www.hocmc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Star rating)
Banor Housing Inc has received a strong rating of 93%, reflecting its solid performance in Accountability & Finance. The organization boasts a perfect score for its independent board members and practices such as having a comprehensive conflict of interest policy, whistleblower policy, and document retention procedures. These aspects highlight the charity's commitment to transparency and strong governance.
While Banor Housing Inc demonstrates robust financial health, with a program expense ratio of 69.20%, which indicates a significant portion of funds dedicated to its mission, there are areas for improvement. The organization did not document board meeting minutes or post its tax form on its website, which slightly affects its overall score in the transparency metrics. Nonetheless, these limitations do not overshadow the charity's strengths in other key areas.
Overall, Banor Housing Inc is well-regarded for its financial accountability and effective governance. The charity's commitment to ethical practices and clear oversight positions it favorably in the nonprofit sector, making it a trustworthy option for potential donors and partners.
This AI summary has been generated from information found on Charity Navigator.
Is Banor Housing Inc legitimate?
Banor Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Banor Housing 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: $0
For more financial information, click here
Official website here: www.hocmc.org
What is the mission statement of Banor Housing Inc?
Banor Housing Inc, as an organization, is dedicated to providing affordable housing for moderate and low-income elderly and disabled individuals who are handicapped. This mission is aimed at ensuring that these vulnerable groups have access to suitable living accommodations. The organization's primary focus is on supporting this demographic segment of society, ensuring they can live with dignity and independence. By providing affordable housing, Banor Housing Inc contributes to improving the overall quality of life for these individuals. The organization has sold one of its properties in 2020, but this transaction does not alter its mission statement.
Official website here: www.hocmc.org
Who is the CEO of Banor Housing Inc?
Chelsea Andrews is the President of Banor Housing Inc.
Official website here: www.hocmc.org
What is the revenue of Banor Housing Inc?
Banor Housing Inc's revenue in 2022 was $7.
Official website here: www.hocmc.org
Who are the executives of Banor Housing Inc and what are their salaries?
There 7 volunteers at Banor Housing Inc.
Here are 7 key members and their salaries:
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Official website here: www.hocmc.org
Where can I find the form 990 for Banor Housing Inc?
Banor Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hocmc.org
Learn more at the official website: www.hocmc.org
Mission Statement of Banor Housing Inc
Banor Housing Inc, as a nonprofit organization, is dedicated to providing affordable housing solutions for moderate and low-income elderly and disabled individuals who are handicapped. The organization's mission is centered around making housing accessible and affordable for these vulnerable groups, ensuring they can live with dignity and independence. By offering affordable housing, Banor Housing Inc is contributing to the well-being and quality of life of those in need, thereby promoting social equity and inclusivity.
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Impact
October, 2024
Banor Housing Inc plays a crucial role in addressing the housing needs of moderate and low-income elderly and disabled individuals in Kensington, MD. By providing affordable housing options, the organization helps ensure that these vulnerable populations have access to safe and stable living conditions. This support not only enhances their quality of life but also fosters community engagement and independence among residents. The sale of property to Bauer Park LP on September 1, 2020, marks a transition that potentially ensures continued access to affordable housing for seniors and disabled persons, emphasizing the importance of sustainable housing solutions in addressing societal needs. Overall, Banor Housing Inc's efforts contribute positively to community well-being and social equity.
This information is meant to be a general summary of Banor Housing 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: $7
- Gross Receipts: $7
Assets and Liabilities:
- Total Assets: $23,066
- Total Liabilities: $2,308
- Net Assets: $20,758
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Organization Details
Founding Year
1974
Phone
(240) 627-9754Principal Officer
Chelsea Andrews
Main Address
10400 DETRICK AVENUE, KENSINGTON, MD, 208952440
Website
www.hocmc.orgNTEE Category
Code: L200 - Housing
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