Overview
What is Loretta Village Housing Inc?
Loretta Village Housing Inc is a nonprofit organization, situated in Salisbury, Maryland, with a primary focus on supporting the elderly community. Their mission revolves around providing safe and affordable housing options, along with necessary assistance for this demographic. By offering low-cost housing, they aim to contribute positively to the local community, ensuring the elderly population has a secure living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91% (Four-Star out of Four Stars)
Loretta Village Housing Inc has achieved a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. The organization scored 91%, with its overall score derived entirely from its Accountability & Finance metrics. This rating reflects a commitment to transparency and responsible management of resources, which is crucial for building trust with donors and beneficiaries.
The charity demonstrated excellent governance, with a fully independent board comprising six members. It has robust policies in place, including a conflict of interest policy and whistleblower protections, ensuring ethical operation. Additionally, there are no reported material diversions of assets, and the organization has a solid liability to asset ratio of 9.27%, indicating financial stability.
While the program expense ratio is a healthy 67.51%, there is room for improvement in this area to enhance the effectiveness of its programs. Overall, Loretta Village Housing Inc stands out for its strong financial practices and governance, making it a reliable choice for potential donors looking to support housing initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Loretta Village Housing Inc legitimate?
Loretta Village Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Loretta Village 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: $36,741
For more financial information, click here
What is the mission statement of Loretta Village Housing Inc?
Loretta Village Housing Inc is committed to providing safe and affordable housing options for the elderly within their community. Their mission is centered around offering essential assistance to this demographic, ensuring they can live comfortably within their means. The organization strives to create an environment where elderly individuals can thrive, providing them with the necessary support to lead fulfilling lives. By offering affordable housing, Loretta Village Housing Inc aims to alleviate some of the financial burdens often associated with aging, enabling the elderly to focus on other aspects of their well-being.
Who is the CEO of Loretta Village Housing Inc?
Freddy L Mitchell is the Executive Director of Loretta Village Housing Inc.
What is the revenue of Loretta Village Housing Inc?
Loretta Village Housing Inc's revenue in 2022 was $140,005.
Who are the executives of Loretta Village Housing Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $151,891
- Other: $10,554
- Compensation: $0
- Related: $0
- Other: $0
- 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 Loretta Village Housing Inc?
Loretta Village Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Loretta Village Housing Inc
Loretta Village Housing Inc is committed to providing a safe and affordable living environment for the elderly within the community. Their mission is centered around offering low-cost housing as well as necessary assistance to this demographic. This organization strives to enhance the quality of life for the elderly population, ensuring they have the support they need to thrive. By providing affordable housing, Loretta Village Housing Inc aims to alleviate the financial burden often associated with senior living, allowing the elderly to focus on their well-being and enjoy their golden years.
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Impact
October, 2024
Loretta Village Housing Inc plays a crucial role in enhancing the quality of life for elderly residents in Salisbury, MD, by providing safe and affordable low-cost housing and assistance. This organization focuses on meeting the unique needs of the elderly population, ensuring they have access to comfortable living arrangements while also receiving the support necessary for their well-being.
By offering affordable housing options, Loretta Village Housing Inc alleviates financial burdens on seniors, allowing them to allocate their resources towards healthcare, social activities, and essential daily needs. Furthermore, the organization fosters a supportive community environment, which can combat isolation and loneliness among elderly individuals. The assistance provided extends beyond housing, potentially including services that enhance their independence and security.
In summary, Loretta Village Housing Inc significantly impacts the Salisbury community by addressing the critical housing needs of its elderly residents, promoting both their physical safety and emotional health.
This information is meant to be a general summary of Loretta Village 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: -$1,165
- Program Service Revenue: $42,144
- Gross Receipts: $141,192
Assets and Liabilities:
- Total Assets: $462,570
- Total Liabilities: $14,982
- Net Assets: $447,588
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$42,144
Organization Details
Founding Year
1997
Phone
(410) 749-1142Principal Officer
Freddy L Mitchell
Main Address
520 SNOW HILL RD, SALISBURY, MD, 21804
NTEE Category
Code: L22 - Housing
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