Overview
What is Walden Place Inc?
Walden Place Inc is a nonprofit organization situated in Frederick, Maryland. Their primary mission, as stated under Section 811 of the National Affordable Housing Act, is to provide affordable housing opportunities for individuals who are chronically mentally disabled. This mission translates into practical actions, as they strive to offer these individuals a secure living environment that caters to their unique needs.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 55%, One-Star out of Four Star rating.
Walden Place Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. While the organization scores well in areas such as having a majority independent board and demonstrating no material diversion of assets, it falls short in transparency and adherence to best practices. The lack of key policies and disclosures, such as conflict of interest and whistleblower protections, has contributed to its relatively low score.
The financial metrics reveal a mixed picture. While the program expense ratio is strong, suggesting that a good portion of expenses are directed toward programming, other financial aspects such as the liabilities to assets ratio are lacking, raising questions about the organization's overall financial health. Additionally, the absence of tax form disclosures on its website further limits transparency.
Concerns are also present regarding the compensation of key personnel, with salaries for top executives being notably high. For instance, the Treasurer earns $451,063, which could raise eyebrows among donors about the organization's prioritization of funds. Overall, while Walden Place Inc has strengths, significant transparency and financial management improvements are needed to enhance donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Walden Place Inc legitimate?
Walden Place Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Walden Place 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
What is the mission statement of Walden Place Inc?
Walden Place Inc, as an organization, is dedicated to providing affordable housing for individuals who are chronically mentally disabled. This mission aligns with Section 811 of the National Affordable Housing Act. Their primary goal is to offer housing solutions that cater specifically to this vulnerable population. The organization's activities are centered around providing affordable housing, ensuring that those in need have a suitable living space. By doing so, Walden Place Inc contributes to improving the quality of life for the chronically mentally disabled, thereby promoting their overall well-being and independence.
Who is the CEO of Walden Place Inc?
Sarah Norman is the President of Walden Place Inc.
What is the revenue of Walden Place Inc?
Walden Place Inc's revenue in 2022 was $72,277.
Who are the executives of Walden Place Inc and what are their salaries?
There 5 volunteers at Walden Place Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $172,288
- Other: $21,000
- Compensation: $0
- Related: $451,063
- Other: $25,617
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Walden Place Inc?
Walden Place Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Walden Place Inc
Walden Place Inc, a nonprofit organization, is dedicated to providing affordable housing for individuals who are chronically mentally disabled. Adhering to Section 811 of the National Affordable Housing Act, Walden Place strives to create living spaces that cater to the unique needs of this population. By focusing on this exempt purpose, the organization aims to contribute to the well-being of these individuals, providing them with a secure and supportive environment.
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Impact
August, 2024
Walden Place Inc's impact lies in its provision of affordable housing to the chronically mentally disabled in accordance with Section 811 of the National Affordable Housing Act. By offering a safe and supportive living environment for this vulnerable population in Frederick, Maryland, Walden Place Inc plays a crucial role in addressing the housing needs of those with chronic mental disabilities. This enables individuals to live with dignity and independence, enhancing their quality of life and overall well-being. Through its dedicated mission, Walden Place Inc contributes positively to the community by ensuring that those in need have access to stable and suitable housing options tailored to their specific requirements.
This information is meant to be a general summary of Walden Place 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: $24
- Program Service Revenue: $72,253
- Gross Receipts: $72,277
Assets and Liabilities:
- Total Assets: $608,621
- Total Liabilities: $847,124
- Net Assets: -$238,503
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$72,253
Organization Details
Founding Year
1994
Phone
(301) 662-0099Principal Officer
Sarah Norman
Main Address
PO BOX 3734, FREDERICK, MD, 21705
NTEE Category
Code: L20 - Housing
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