Overview
What is Renewal Housing Inc?
Renewal Housing Inc, situated in North Bethesda, Maryland, is a dedicated nonprofit organization. Their primary mission is to offer affordable housing solutions to low-income individuals and their families. Operating from 11810 Grand Park Avenue 600, the organization's main activity involves providing a comfortable living space for those in need. By focusing on affordable housing, Renewal Housing Inc contributes significantly to the community, ensuring that a crucial basic need is met for many individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Renewal Housing Inc received a Two-Star out of Four Star rating from Charity Navigator, indicating that the organization has significant areas for improvement, particularly in its financial accountability and operational transparency. The overall score of 62% reflects concerns regarding the structure and effectiveness of the board, along with financial management practices that may not meet best practices in the nonprofit sector.
The organization demonstrates strengths in having a fully independent board and a solid approach to material asset management and oversight, receiving high scores in areas such as audits and conflict of interest policies. However, significant shortcomings are noted in the size of the board, financial ratios, and website presence, which can hinder stakeholder confidence and overall effectiveness.
In summary, while Renewal Housing Inc has established a foundation with strong governance policies, it faces critical challenges in financial management and transparency. Addressing these limitations could enhance its accountability and improve ratings in the future, ultimately enabling it to better serve its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Renewal Housing Inc legitimate?
Renewal Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Renewal 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: $61,184
For more financial information, click here
What is the mission statement of Renewal Housing Inc?
Renewal Housing Inc is committed to providing affordable housing solutions for low-income individuals and their families. This mission is reflected in their operational activities, which primarily involve managing an affordable housing community. By offering reasonably priced housing, Renewal Housing Inc aims to contribute to the well-being of these individuals, ensuring they have a place to call home. The organization's focus on affordability allows low-income families to maintain stability and focus on other aspects of their lives, such as education and employment.
Who is the CEO of Renewal Housing Inc?
Todd Travis is the Director of Renewal Housing Inc.
What is the revenue of Renewal Housing Inc?
Renewal Housing Inc's revenue in 2021 was $3,551,240.
Who are the executives of Renewal Housing Inc and what are their salaries?
There 2 volunteers at Renewal Housing Inc.
Here are 3 key members and their salaries:
- 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 Renewal Housing Inc?
Renewal Housing Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Renewal Housing Inc
Renewal Housing Inc, as a non-profit organization, is committed to providing affordable housing solutions for low-income individuals and their families. Their mission is centered around creating an affordable housing community that caters to those in need. In essence, Renewal Housing Inc strives to make housing accessible for individuals who might otherwise struggle to afford it, thereby contributing to a more equitable living environment.
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Impact
July, 2024
Renewal Housing Inc's impact is evident in its provision of affordable housing to low-income individuals and their families. Through its operation of an affordable housing community in North Bethesda, MD, Renewal Housing Inc directly addresses the critical need for accessible housing options for those in need. By offering safe and affordable housing solutions, Renewal Housing Inc plays a crucial role in supporting the well-being and stability of low-income individuals and families in the community.
This information is meant to be a general summary of Renewal 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 2021.
- Investment Income: $18
- Program Service Revenue: $200,105
- Gross Receipts: $3,551,240
Assets and Liabilities:
- Total Assets: $14,557,789
- Total Liabilities: $42,530,743
- Net Assets: -$27,972,954
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$185,166
OTHER INCOME
Revenue
$14,939
Organization Details
Founding Year
1994
Phone
(301) 998-0400Principal Officer
Todd Travis
Main Address
11810 GRAND PARK AVENUE 600, NORTH BETHESDA, MD, 20852
NTEE Category
Code: L20 - Housing
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