Overview
What is Procap Housing Inc?
Procap Housing Inc, located at 518 Hartford Avenue, Providence, Rhode Island 02909, is a dedicated nonprofit organization. Their primary mission is to offer affordable housing solutions for individuals with disabilities, ensuring they have a safe and comfortable living environment. This essential service is aligned with their commitment to providing low-income housing for handicapped individuals. The organization's activities are centered around this mission, making a significant impact in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, Two-Star out of Four Stars (Score: 65%)
Procap Housing Inc has been rated as "Needs Improvement" by Charity Navigator, reflecting a score of 65%. The organization shows strengths in several governance areas, including having a majority of independent board members and a robust conflict of interest policy, both of which are crucial for transparency and accountability. Additionally, the program expense ratio is strong at 79.52%, indicating that a significant portion of funding is directed towards its programs.
However, the organization faces challenges, particularly with a high liabilities to assets ratio of 150.63%, which raises concerns about financial stability. While its governance practices are commendable, the financial metrics suggest a need for improved management of resources to ensure sustainability.
Overall, while Procap Housing Inc demonstrates a commitment to accountability through its independent board and effective policies, its financial health is a notable limitation that may affect its operations and program delivery in the long term.
This AI summary has been generated from information found on Charity Navigator.
Is Procap Housing Inc legitimate?
Procap Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Procap 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Procap Housing Inc?
Procap Housing Inc is committed to providing low-income housing for individuals with disabilities. This mission is carried out through various activities, with the primary goal of offering suitable living spaces for individuals with handicaps. The organization's purpose is to ensure that these individuals have access to housing that caters to their unique needs and circumstances. Procap Housing Inc's activities are focused on providing a safe and comfortable living environment for handicapped individuals, thereby contributing to their overall well-being and quality of life. The organization's mission reflects its dedication to supporting vulnerable individuals and promoting inclusivity and equal opportunities in housing.
Who is the CEO of Procap Housing Inc?
Thomas Hemmendinger is the Director of Procap Housing Inc.
What is the revenue of Procap Housing Inc?
Procap Housing Inc's revenue in 2023 was $154,326.
Who are the executives of Procap Housing Inc and what are their salaries?
Here are 4 key members and their salaries:
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Where can I find the form 990 for Procap Housing Inc?
Procap Housing Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Procap Housing Inc
Procap Housing Inc, as indicated in its mission statement, is committed to providing low-income housing for individuals with disabilities. This organization operates with a goal to make housing accessible and affordable for individuals who are handicapped, ensuring they have a place to call home. By offering such housing, Procap Housing Inc contributes to the overall well-being and independence of these individuals, allowing them to live with dignity and comfort. The organization's mission is a testament to its dedication to supporting those who may face unique challenges in securing suitable housing.
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Impact
October, 2024
Procap Housing Inc plays a crucial role in improving the quality of life for handicapped individuals by providing low-income housing in Providence, RI. By focusing on accessible living spaces, the organization alleviates housing instability and fosters a sense of community among individuals with disabilities. This initiative not only addresses immediate housing needs but also promotes independence and dignity, allowing residents to thrive in their environments. Through its mission of ensuring affordable housing options, Procap Housing Inc positively impacts the overall well-being of the handicapped community, enhancing their access to essential resources and opportunities for social engagement.
This information is meant to be a general summary of Procap 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 2023.
- Investment Income: $126
- Program Service Revenue: $154,200
- Gross Receipts: $154,326
Assets and Liabilities:
- Total Assets: $1,346,312
- Total Liabilities: $2,028,183
- Net Assets: -$681,871
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$154,200
Organization Details
Founding Year
2000
Phone
(401) 273-2000Principal Officer
Thomas Hemmendinger
Main Address
518 HARTFORD AVENUE, PROVIDENCE, RI, 02909
NTEE Category
Code: L21 - Housing
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