Overview
What is Main Street Housing Inc?
Main Street Housing Inc, located in Elkridge, Maryland, is a nonprofit organization with a mission to provide safe, decent, and affordable housing for individuals experiencing psychiatric disabilities. Established at 7310 Esquire Court, the organization operates with a team of seven dedicated individuals. Its primary activity involves the acquisition and maintenance of rental properties, ensuring that those in need have a secure living environment. Main Street Housing Inc goes beyond just providing housing, ensuring that the living conditions are suitable and accessible for people with psychiatric disabilities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating. This rating reflects Main Street Housing Inc's performance in accountability and finance, which is rated at 79%. The organization has demonstrated a commitment to transparency and responsible governance, as evidenced by its fully independent board and comprehensive financial oversight measures.
One of the key strengths of Main Street Housing Inc is its high program expense ratio of 90.81%, indicating that a significant portion of its funding is directed towards its programs rather than administrative costs. Additionally, the organization has established policies for conflict of interest, whistleblowing, and document retention, which further enhances its accountability and ethical standards.
However, the organization does face some financial challenges, as indicated by its liabilities to assets ratio of 101.62%, which suggests that liabilities exceed assets. This could pose potential risks for financial stability moving forward. Overall, while Main Street Housing Inc showcases strong governance and a commitment to its mission, there are areas related to financial health that warrant attention.
This AI summary has been generated from information found on Charity Navigator.
Is Main Street Housing Inc legitimate?
Main Street Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Main Street 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: $220,925
For more financial information, click here
What is the mission statement of Main Street Housing Inc?
Main Street Housing Inc's mission is centered around providing housing solutions. Specifically, they focus on serving individuals with psychiatric disabilities. Their mission is carried out through the acquisition and maintenance of rental properties, ensuring that the housing provided is safe, decent, and affordable. This organization's primary goal is to make a positive impact on the lives of those with psychiatric disabilities by providing them with a secure living environment.
Who is the CEO of Main Street Housing Inc?
Ken Wireman is the Director of Main Street Housing Inc.
What is the revenue of Main Street Housing Inc?
Main Street Housing Inc's revenue in 2022 was $752,736.
Who are the executives of Main Street Housing Inc and what are their salaries?
The average compensation at Main Street Housing Inc during 2022 was $31,561. There are 7 employees at Main Street Housing Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Main Street Housing Inc?
Main Street Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Main Street Housing Inc
Main Street Housing Inc, a nonprofit organization, is committed to providing housing for individuals grappling with psychiatric disabilities. Their mission is twofold: firstly, they aim to acquire and maintain rental properties that offer safe, decent, and affordable living spaces for these individuals. This ensures that they have a stable and secure environment where they can focus on their well-being and recovery. Secondly, Main Street Housing Inc is dedicated to fostering a sense of community and belonging among its residents. By providing housing, they are not just offering a roof over their heads, but also creating an environment where individuals with psychiatric disabilities can thrive and live independently.
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Impact
July, 2024
Main Street Housing Inc has a significant impact on the community by providing safe, decent, and affordable housing for people with psychiatric disabilities. Their mission to offer housing for individuals facing such challenges directly addresses a critical need within the community. Through the acquisition and maintenance of rental properties, Main Street Housing Inc plays a vital role in supporting the well-being and stability of those with psychiatric disabilities in ELKRIDGE, MD.
This information is meant to be a general summary of Main Street 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: $6
- Program Service Revenue: $752,730
- Gross Receipts: $752,736
Assets and Liabilities:
- Total Assets: $8,120,147
- Total Liabilities: $8,061,845
- Net Assets: $58,302
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income
Revenue
$474,494
Other program income
Revenue
$278,236
Organization Details
Founding Year
2001
Phone
(410) 540-9067Principal Officer
Ken Wireman
Main Address
7310 Esquire Court, Elkridge, MD, 21075
NTEE Category
Code: L20 - Housing
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