Overview
What is Bon Secours Housing Inc?
Bon Secours Housing Inc, established in 1983, is a Maryland-based nonprofit organization dedicated to addressing the housing needs of the elderly. Financed primarily by the U.S. Department of Housing and Urban Development under Section 202 of the National Affordable Housing Act, the organization operates a housing facility with 84 units. Bon Secours Housing Inc's mission is to provide affordable and comfortable living accommodations for the elderly, regulated by HUD in terms of rental charges and operational methods. The entity's purpose is to contribute positively to the well-being and living conditions of the elderly community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star Rating, 64%)
Bon Secours Housing Inc received a two-star rating from Charity Navigator, indicating a need for improvement in certain areas. The overall score of 64% reflects some strong points in financial oversight, particularly in their audit and oversight committee, which scored full marks. However, the organization lacks majority independent board members and transparency, failing to meet expectations in key accountability metrics.
While Bon Secours Housing Inc has established solid policies regarding conflict of interest, whistleblower protections, and document retention, it falls short in other vital areas such as board independence and website transparency. Notably, the charity did not provide its tax forms on its website, which is essential for public accountability. The absence of independent board members raises concerns about governance and decision-making processes.
Financially, the organization shows a healthy program expense ratio, indicating effective allocation of funds toward its mission. However, the liabilities to assets ratio was not rated, which is a critical aspect of understanding the charity's financial health. Overall, while Bon Secours Housing Inc has strengths in some areas, significant improvements are needed in governance and transparency practices to enhance its credibility and effectiveness as a nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Bon Secours Housing Inc legitimate?
Bon Secours Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bon Secours 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: $143,855
For more financial information, click here
What is the mission statement of Bon Secours Housing Inc?
Bon Secours Housing Inc, established in 1983, is dedicated to providing affordable housing for the elderly. This mission is carried out under the regulations of the U.S. Department of Housing and Urban Development, specifically Section 202 of the National Affordable Housing Act. The organization constructs and operates housing facilities, ensuring that rent charges and operating methods adhere to the guidelines set by HUD. The primary goal is to provide a living space for the elderly, thereby contributing to their well-being and overall quality of life. Bon Secours Housing Inc's mission is rooted in the belief that every individual, regardless of age or income level, deserves a safe and affordable place to call home.
Who is the CEO of Bon Secours Housing Inc?
Unavailable The CEO's salary of Bon Secours Housing Inc is $0 and their total compensation is $1,205,135.
What is the revenue of Bon Secours Housing Inc?
Bon Secours Housing Inc's revenue in 2022 was $1,381,354.
Who are the executives of Bon Secours Housing Inc and what are their salaries?
There 1 volunteer at Bon Secours Housing Inc.
Here are 3 key members and their salaries (Bon Secours Housing Inc's CEO's salary is $0 and their total compensation is $1,205,135):
- Compensation: $0
- Related: $158,364
- Other: $19,877
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $1,179,687
- Other: $25,448
Where can I find the form 990 for Bon Secours Housing Inc?
Bon Secours Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bon Secours Housing Inc
Bon Secours Housing Inc, a nonprofit organization established in 1983, is dedicated to fulfilling its mission of providing affordable housing for the elderly. This mission is rooted in Section 202 of the National Affordable Housing Act, a U.S. government initiative aimed at addressing housing needs. Bon Secours Housing Inc adheres to the regulations set by the U.S. Department of Housing and Urban Development (HUD) regarding rent charges and operating methods to ensure the elderly residents can comfortably reside in its 84-unit facility. The organization's commitment to providing affordable housing for the elderly contributes to their overall well-being and quality of life, enabling them to maintain their independence in a supportive environment.
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Impact
July, 2024
Bon Secours Housing Inc's impact lies in providing essential affordable housing to elderly individuals in Baltimore, Maryland. With 84 units financed through the U.S. Department of Housing and Urban Development under Section 202 of the National Affordable Housing Act, this organization plays a vital role in addressing the housing needs of the elderly population. By offering regulated rent charges and operating methods, Bon Secours Housing Inc contributes to ensuring a safe and secure living environment for its residents. Their mission to provide low-income housing for the elderly aligns with the broader goal of promoting housing accessibility and stability within the community.
This information is meant to be a general summary of Bon Secours 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: $468
- Program Service Revenue: $1,374,445
- Gross Receipts: $1,381,354
Assets and Liabilities:
- Total Assets: $4,309,078
- Total Liabilities: $4,061,324
- Net Assets: $247,754
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income
Revenue
$1,374,445
Organization Details
Founding Year
1983
Phone
(513) 952-5000Main Address
26 N FULTON AVENUE, BALTIMORE, MD, 21223
NTEE Category
Code: L200 - Housing
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