Overview
What is Elderhomes Corporation?
Elderhomes Corporation, also known as Project Homes, is a nonprofit organization based in Richmond, Virginia. With a team of 60 employees, their mission is dedicated to enhancing the housing and living conditions for elderly, disabled, and low-income individuals in the local community. Through their Weatherization Program, they provide essential energy conservation services and emergency home repairs. The organization strives to ensure the elderly and economically disadvantaged population in Richmond and its surrounding areas can live comfortably and safely in their homes.
Official website here: www.projecthomes.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Elderhomes Corporation has been awarded a 96% rating by Charity Navigator, indicating a strong performance in accountability and finance. The charity boasts a fully independent board, which is crucial for effective governance, and demonstrates excellent transparency through its financial statements and policies regarding conflict of interest and whistleblowing. Its program expense ratio of 94.10% reflects a commitment to using funds effectively for its intended mission.
The organization’s strong score in liability management, with a low liabilities to assets ratio of 12.75%, further underscores its financial stability. The thorough oversight by an audit and oversight committee ensures that financial practices are rigorously monitored. Additionally, all necessary documents, including board meeting minutes, are maintained properly, highlighting a solid organizational infrastructure.
While the rating demonstrates a strong commitment to ethical management and programmatic effectiveness, potential donors can feel confident that their contributions are being utilized effectively and responsibly. Overall, Elderhomes Corporation presents itself as a well-managed nonprofit with a focus on maintaining high standards of accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Elderhomes Corporation legitimate?
Elderhomes Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elderhomes Corporation 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: $423,819
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,199,592
For more financial information, click here
Official website here: www.projecthomes.org
What is the mission statement of Elderhomes Corporation?
The Elderhomes Corporation is dedicated to enhancing the housing and living conditions for the elderly, disabled, and low-income population. Their mission is geared towards improving the quality of life for this demographic in local communities. The corporation offers energy conservation weatherization services and emergency home repairs to those in need. Through these initiatives, Elderhomes Corporation aims to provide essential assistance, ensuring the living environments of vulnerable individuals are safe and functional.
Official website here: www.projecthomes.org
What is the revenue of Elderhomes Corporation?
Elderhomes Corporation's revenue in 2024 was $25,889,049.
Official website here: www.projecthomes.org
Who are the executives of Elderhomes Corporation and what are their salaries?
The average compensation at Elderhomes Corporation during 2024 was $55,745. There are 65 employees and 1000 volunteers at Elderhomes Corporation.
Here are 19 key members and their salaries:
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- Compensation: $150,460
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- Compensation: $118,132
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- Other: $14,735
- Compensation: $116,975
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- Other: $15,367
- Compensation: $105,574
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- Other: $14,940
Official website here: www.projecthomes.org
Where can I find the form 990 for Elderhomes Corporation?
Elderhomes Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.projecthomes.org
Learn more at the official website: www.projecthomes.org
Mission Statement of Elderhomes Corporation
Elderhomes Corporation, a mission-driven organization, strives to enhance the housing and living conditions for elderly, disabled, and low-income individuals in their local communities. By providing essential services, Elderhomes aims to improve the quality of life for those who may face challenges in maintaining their homes.
The organization's primary focus lies in implementing energy conservation weatherization services and emergency home repairs for elderly and low-income residents. Through this initiative, Elderhomes Corporation addresses the unique needs of these individuals, ensuring their homes are safe, comfortable, and energy-efficient. By addressing the energy needs of their clients, Elderhomes Corporation helps to lower the overall living expenses for those in need, allowing them to allocate their resources to other essential expenses.
Additionally, Elderhomes Corporation's weatherization program encompasses a range of services tailored to the specific needs of the elderly and low-income population. These services may include insulation, air sealing, and the installation of energy-efficient appliances, among others. By implementing these measures, Elderhomes Corporation not only helps to improve the living conditions of their clients but also contributes to reducing their carbon footprint and promoting sustainability.
In conclusion, Elderhomes Corporation is a dedicated organization that works tirelessly to improve the housing and living conditions of elderly, disabled, and low-income individuals. Through their weatherization program, they provide essential energy conservation services and emergency home repairs, making a significant difference in the lives of those they serve.
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Impact
October, 2024
Elderhomes Corporation significantly impacts Richmond and its surrounding areas by enhancing the housing and living conditions of elderly, disabled, and low-income individuals. Through its initiatives, particularly the Weatherization Program, the organization provides essential energy conservation services and emergency home repairs. These services not only improve the safety and comfort of homes but also promote energy efficiency, potentially reducing utility costs for vulnerable populations. By addressing critical housing needs, Elderhomes Corporation fosters a sense of dignity and stability for residents, ensuring that those in difficult circumstances have access to quality living conditions. Their commitment to community-focused solutions is instrumental in creating a supportive environment for the region’s most at-risk populations.
This information is meant to be a general summary of Elderhomes Corporation. 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 2024.
- Investment Income: $121,842
- Program Service Revenue: $3,690,611
- Gross Receipts: $25,889,049
Assets and Liabilities:
- Total Assets: $17,850,876
- Total Liabilities: $2,276,929
- Net Assets: $15,573,947
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOUSING REVENUE
Revenue
$3,413,251
CONSERVATION STRATEGIES
Revenue
$140,023
PROGRAM INCOME
Revenue
$137,337
Organization Details
Founding Year
1992
Principal Officer
Lee Householder
Website
www.projecthomes.orgNTEE Category
Code: L810 - Housing
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