Overview
What is Terrific Inc?
Terrific Inc, located at 1222 T Street NW, Washington DC 20009, is a nonprofit organization dedicated to providing safe and affordable housing and comprehensive support services to individuals and families in crisis. Financed by the United States Department of Housing and Urban Development, Terrific Inc operates the Terrific Inn 1 project, offering lodging to 14 low-income adults. Tenants contribute to their rent based on their income, with the government providing subsidies to cover any remaining costs. Terrific Inc's mission revolves around ensuring the well-being of its residents, currently employing a team of 54 individuals to accomplish this goal.
Official website here: www.terrificinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Terrific Inc has received a two-star rating from Charity Navigator, with an overall score of 73%. The organization demonstrates strong accountability and governance through its fully independent board and a solid program expense ratio of 77.23%. These factors reflect a commitment to maintaining a focused mission and transparency in leadership.
However, notable limitations exist that impact its overall rating. The nonprofit has not provided financial statements, which significantly hinders transparency and accountability. Additionally, the absence of a whistleblower policy and a document retention policy suggests gaps in governance practices that need to be addressed to enhance trust and operational integrity.
Overall, while Terrific Inc shows promise through its independent board and program spending, it must improve its financial transparency and governance policies to achieve a stronger standing and build confidence within its community and among potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Terrific Inc legitimate?
Terrific Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Terrific 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: $1,893,601
For more financial information, click here
Official website here: www.terrificinc.org
What is the mission statement of Terrific Inc?
Terrific Inc, as an organization, is committed to providing safe and affordable housing, along with comprehensive support services, to individuals and families in crisis. This mission is carried out through programs such as the Senior Citizen Independent-Living Housing Program, which is operated through the Terrific Inn 1 project. Under this program, the Inn offers housing for 14 low-income adults, with the United States Department of Housing and Urban Development financing the building's purchase and providing tenant rent subsidies. The tenants pay an income-based contribution for their rent.
Official website here: www.terrificinc.org
Who is the CEO of Terrific Inc?
Debbie Tate is the Executive Director of Terrific Inc.
Official website here: www.terrificinc.org
What is the revenue of Terrific Inc?
Terrific Inc's revenue in 2022 was $3,835,238.
Official website here: www.terrificinc.org
Who are the executives of Terrific Inc and what are their salaries?
The average compensation at Terrific Inc during 2022 was $35,067. There are 54 employees at Terrific Inc.
Here are 8 key members and their salaries:
- Compensation: $122,585
- Related: $0
- Other: $0
- Compensation: $107,068
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.terrificinc.org
Where can I find the form 990 for Terrific Inc?
Terrific Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.terrificinc.org
Learn more at the official website: www.terrificinc.org
Mission Statement of Terrific Inc
Terrific, Inc. is committed to providing a safe and affordable living environment, along with comprehensive support services, for individuals and families in crisis. The organization's mission is particularly focused on addressing the needs of those in distress. One of their initiatives is the Senior Citizen Independent-Living Housing Program, which is operational through the Terrific Inn 1 Project. This project offers housing for 14 low-income adults, with financial support provided by the United States Department of Housing and Urban Development (HUD). Tenants contribute to their rent based on their income. This program by Terrific, Inc. aims to provide a secure living space and essential support services to those in need, contributing to their overall well-being.
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Impact
July, 2024
Terrific Inc provides safe and affordable housing along with comprehensive support services to individuals and families in crisis. Their impact can be seen in the Senior Citizen Independent-Living Housing Program operated through the Terrific Inn 1 project. Through this program, 14 low-income adults have access to housing, supported by subsidies from the United States Department of Housing and Urban Development (HUD). Terrific Inc's focus on providing housing to those in need contributes to addressing homelessness and improving the well-being of vulnerable populations in Washington, DC.
This information is meant to be a general summary of Terrific 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: $997
- Program Service Revenue: $62,657
- Gross Receipts: $3,835,238
Assets and Liabilities:
- Total Assets: $2,611,231
- Total Liabilities: $986,556
- Net Assets: $1,624,675
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$62,657
Organization Details
Founding Year
1975
Phone
(202) 234-4128Principal Officer
Debbie Tate
Main Address
1222 T STREET NW, WASHINGTON, DC, 20009
Website
www.terrificinc.orgNTEE Category
Code: L210 - Housing
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