Overview
What is Biznet Incorporated?
Biznet Incorporated, operating under the name Hearts and Homes, is a nonprofit organization situated in Norfolk, Virginia. Specializing in Southeastern Virginia, the organization offers housing and community living opportunities for adults with developmental disabilities. By owning various condominiums, townhomes, and single-family homes, Biznet Incorporated seeks to provide a supportive environment that empowers individuals to live independently while promoting their overall well-being.
Official website here: www.heartsandhomesva.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76%, Three-Star out of Four Star rating. This rating indicates a relatively good level of accountability and financial health for Biznet Incorporated, stemming from a strong emphasis on financial practices. The organization has achieved perfect scores in several key areas, including the independence of its board members and the absence of any material diversion of assets, which reflects a commitment to transparency and effective governance.
The organization displays a solid program expense ratio of 86.47%, meaning that a significant portion of its resources is directed towards its mission-related activities. Additionally, the liabilities to assets ratio stands at 18.28%, suggesting that the organization's financial obligations are manageable compared to its assets. These strengths contribute to a positive outlook regarding the nonprofit's ability to fulfill its objectives and serve its community effectively.
However, there are notable gaps in policy documentation, particularly the absence of a conflict of interest policy, a whistleblower policy, and guidelines for document retention and destruction. These omissions, while not immediately detrimental, indicate areas where the organization could improve its governance practices to enhance accountability further and mitigate potential risks. Overall, Biznet Incorporated demonstrates a sound financial footing but has opportunities to strengthen its operational policies.
This AI summary has been generated from information found on Charity Navigator.
Is Biznet Incorporated legitimate?
Biznet Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. Biznet Incorporated 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.
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Official website here: www.heartsandhomesva.org
What is the mission statement of Biznet Incorporated?
Biznet Incorporated's mission is centered around providing housing and community living opportunities for adults with developmental disabilities. The organization strives to create an inclusive environment, offering various types of residences such as condominiums, townhomes, and single-family homes tailored to the specific needs of its residents. The primary goal is to enhance their quality of life and facilitate their full participation in the community.
Official website here: www.heartsandhomesva.org
Who is the CEO of Biznet Incorporated?
William R Crosby Jr is the Finance Comm of Biznet Incorporated.
Official website here: www.heartsandhomesva.org
What is the revenue of Biznet Incorporated?
Biznet Incorporated's revenue in 2022 was $156,761.
Official website here: www.heartsandhomesva.org
Who are the executives of Biznet Incorporated and what are their salaries?
Here are 10 key members and their salaries:
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Official website here: www.heartsandhomesva.org
Where can I find the form 990 for Biznet Incorporated?
Biznet Incorporated's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.heartsandhomesva.org
Learn more at the official website: www.heartsandhomesva.org
Mission Statement of Biznet Incorporated
Biznet Incorporated, a nonprofit organization, is dedicated to providing housing and community living opportunities for adults with developmental disabilities in southeastern Virginia. Their mission is to create an inclusive environment where these individuals can live independently and actively participate in their communities. To achieve this, Biznet Incorporated owns a variety of properties, including condominiums, townhomes, and single-family homes, specifically designed to cater to the unique needs of these individuals. By providing suitable housing, Biznet Incorporated aims to empower adults with developmental disabilities, enabling them to lead fulfilling lives with dignity and independence.
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Impact
October, 2024
Biznet Incorporated plays a vital role in supporting adults with developmental disabilities in Southeastern Virginia by providing essential housing and community living opportunities. The organization owns and manages several condominiums, townhomes, and a single-family home specifically designed to meet the needs of individuals with developmental challenges. This unique approach not only offers safe, supportive living environments but also fosters independence and integration into the community. By empowering residents through daily community living opportunities, Biznet Incorporated enhances their quality of life and promotes social inclusion, ultimately contributing to a more equitable society.
This information is meant to be a general summary of Biznet Incorporated. 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: $2,504
- Program Service Revenue: $148,218
- Gross Receipts: $259,761
Assets and Liabilities:
- Total Assets: $1,554,878
- Total Liabilities: $294,965
- Net Assets: $1,259,913
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$148,218
Organization Details
Founding Year
1993
Phone
(757) 955-0774Principal Officer
William R Crosby Jr
Main Address
537 W 20TH STREET UNIT 205, NORFOLK, VA, 23517
Website
www.heartsandhomesva.orgNTEE Category
Code: P80 - Human services
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