Overview
What is Montgomery Housing Inc?
Montgomery Housing Inc, established in 1999, is a Maryland-based nonprofit corporation with a mission to offer affordable housing for individuals with disabilities. The organization, situated in Gaithersburg, Maryland, operates nine housing units that fall under Section 811 of the National Affordable Housing Act. This act provides essential assistance to Montgomery Housing Inc, enabling them to maintain reasonable rents and operational methods. The U.S. Department of Housing and Urban Development regulates these projects, ensuring they adhere to established standards. Essentially, Montgomery Housing Inc is committed to providing affordable living accommodations for individuals with disabilities, ensuring they can live independently with dignity.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58% (One-Star out of Four Stars)
Montgomery Housing Inc. has received a One-Star rating from Charity Navigator, indicating significant areas for improvement in its accountability and financial health. The organization has a high program expense ratio of 76.40%, reflecting a strong commitment to its mission-related programs. However, its liabilities to assets ratio is notably concerning at 240.18%, which raises questions about its financial stability and sustainability.
Despite the financial challenges highlighted in the rating, user reviews on Great Nonprofits suggest that Montgomery Housing Inc. is making a positive impact in the community. One reviewer praised the organization for its dedication to helping individuals find affordable housing in the high-rent DC metro area, noting that it provides essential services for low to moderate-income households. The renovations made to community-owned properties were also appreciated, enhancing the quality of life for tenants.
While the organization's commitment to its mission is evident through positive user feedback, the financial metrics indicate that Montgomery Housing Inc. may need to address its fiscal challenges to ensure long-term viability and improved ratings in the future.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Montgomery Housing Inc legitimate?
Montgomery Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Montgomery 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: $0
For more financial information, click here
What is the mission statement of Montgomery Housing Inc?
Montgomery Housing Inc, as an organization, is committed to providing affordable housing options for individuals with disabilities. This commitment is in line with Section 811 of the National Affordable Housing Act. The entity acquires, develops, and operates housing facilities, with a current project consisting of 9 units located in an unspecified location. Montgomery Housing Inc receives assistance under the provisions of this Act, and its projects are regulated by the U.S. Department of Housing and Urban Development in terms of rent charges and operating methods.
Who is the CEO of Montgomery Housing Inc?
Sarah Norman is the Vice President of Montgomery Housing Inc.
What is the revenue of Montgomery Housing Inc?
Montgomery Housing Inc's revenue in 2022 was $82,792.
Who are the executives of Montgomery Housing Inc and what are their salaries?
There 5 volunteers at Montgomery Housing Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $172,288
- Other: $21,000
- Compensation: $0
- Related: $451,063
- Other: $25,617
Where can I find the form 990 for Montgomery Housing Inc?
Montgomery Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Montgomery Housing Inc
Montgomery Housing Inc, established in January 1999, is a mission-driven organization with a primary focus on providing affordable housing to individuals with disabilities. Their mission is firmly rooted in Section 811 of the National Affordable Housing Act. Montgomery Housing Inc strives to acquire, develop, and manage housing facilities that cater specifically to this group of individuals, ensuring they have access to safe and suitable living spaces. The U.S. Department of Housing and Urban Development oversees these projects, regulating rent charges and operating methods to maintain affordability and fairness for the residents.
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Impact
October, 2024
Montgomery Housing Inc. plays a crucial role in enhancing the quality of life for individuals with disabilities by providing affordable housing options in Gaithersburg, Maryland. Established in January 1999, it focuses on acquiring, developing, and operating specialized housing and related facilities. The organization consists of nine housing units specifically designed to cater to the needs of persons with disabilities, ensuring they have access to safe and supportive living environments.
By operating under Section 811 of the National Affordable Housing Act, Montgomery Housing Inc. offers a structured approach to affordability, with regulations in place regarding rent charges and operating methods administered by the U.S. Department of Housing and Urban Development. This oversight ensures that individuals with disabilities can find stable housing that meets their specific needs, ultimately supporting their independence and integration into the community.
The impact of Montgomery Housing Inc. extends beyond simply providing shelter; it fosters a sense of belonging and community among residents, enhancing their overall well-being. By focusing on this underserved population, the organization contributes to improving housing equity and accessibility in the region, reinforcing the importance of inclusive living spaces.
This information is meant to be a general summary of Montgomery 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: $16
- Program Service Revenue: $27,006
- Gross Receipts: $82,792
Assets and Liabilities:
- Total Assets: $457,434
- Total Liabilities: $1,013,499
- Net Assets: -$556,065
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$27,006
Organization Details
Founding Year
1999
Phone
(301) 963-1700Principal Officer
Sarah Norman
Main Address
610 EAST DIAMOND AVE 100, GAITHERSBURG, MD, 20877
NTEE Category
Code: L20 - Housing
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