Overview
What is Greater New Hope Towers?
Greater New Hope Towers is a nonprofit organization situated in Baltimore, Maryland, specifically at 2720 Walbrook Avenue. Their primary mission is to offer affordable housing for the elderly community, catering to 80 residents. The organization is committed to upholding the standard of providing well-designed living spaces for its elderly residents, ensuring their comfort and well-being.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52%, One-Star out of Four Stars
Greater New Hope Towers has received a One-Star rating from Charity Navigator, indicating serious concerns regarding its accountability and financial practices. The organization's overall score reflects a significant lack of independent board members and missing key governance policies such as conflict of interest and whistleblower policies. They have successfully managed to report no material diversion of assets, which is a positive aspect, but the absence of independent oversight raises questions about its governance.
Strengths noted in the evaluation include a perfect score on program expense ratio, indicating that 100% of its expenses are directed toward its programs. Additionally, it has received full marks for its financial statements audit, signifying that its financial reporting is reliable. However, the concerning liabilities to assets ratio of 93.14% suggests potential financial instability, which may impact its long-term effectiveness and sustainability.
In summary, while Greater New Hope Towers has strengths in program allocation and financial reporting, the lack of independent governance and missing policy documents present significant challenges to its accountability and transparency. Prospective donors and stakeholders should consider these factors carefully when assessing the organization's impact and reliability.
This AI summary has been generated from information found on Charity Navigator.
Is Greater New Hope Towers legitimate?
Greater New Hope Towers is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater New Hope Towers 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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Other Salaries and Wages: $332,516
For more financial information, click here
What is the mission statement of Greater New Hope Towers?
Greater New Hope Towers is dedicated to providing affordable and aesthetically pleasing living spaces for the elderly. Their primary mission is to operate and maintain a residential complex, comprising 80 units, that cater specifically to the elderly population. The organization strives to create an environment that is both comfortable and affordable, ensuring that the elderly residents can live with dignity and independence.
Who is the CEO of Greater New Hope Towers?
William Booker is the Member of Greater New Hope Towers.
What is the revenue of Greater New Hope Towers?
Greater New Hope Towers's revenue in 2022 was $1,494,120.
Who are the executives of Greater New Hope Towers and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for Greater New Hope Towers?
Greater New Hope Towers's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Greater New Hope Towers
Greater New Hope Towers is a dedicated organization that strives to provide affordable and aesthetically pleasing living spaces for the elderly. Their primary mission is to operate and maintain a housing complex consisting of 80 units, ensuring that elderly individuals have access to comfortable and reasonably priced accommodations. By offering such housing, Greater New Hope Towers contributes to the well-being and security of the elderly population, enabling them to live with dignity and independence.
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Impact
July, 2024
Greater New Hope Towers provides essential housing for the elderly in Baltimore, Maryland, offering 80 units of affordable and well-designed living spaces. This impact is significant as it ensures that elderly individuals have access to safe and secure housing options that meet their needs. By fulfilling its mission to provide affordable housing, Greater New Hope Towers contributes to enhancing the quality of life for elderly residents in the community.
This information is meant to be a general summary of Greater New Hope Towers. 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: $618
- Program Service Revenue: $222,349
- Gross Receipts: $1,494,120
Assets and Liabilities:
- Total Assets: $3,285,069
- Total Liabilities: $3,060,031
- Net Assets: $225,038
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$221,848
LAUNDRY INCOME
Revenue
$501
Organization Details
Founding Year
1978
Phone
(410) 225-0003Principal Officer
William Booker
Main Address
2725 WALBROOK AVENUE, BALTIMORE, MD, 21216
NTEE Category
Code: L22Z - Housing
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