Overview
What is Passage Home Inc?
Passage Home Inc is a nonprofit organization located in Raleigh, North Carolina, committed to breaking the cycle of poverty for families in Wake County. Their primary initiatives include providing affordable housing, reducing homelessness, addressing food security, increasing economic self-sufficiency, and aiding youth development. They offer job training and placement, improve the built environment, and have served over 6,500 individuals in the past year, including supplying nearly 2,000 meals to families struggling with housing affordability. Passage Home Inc has spent over 1.3 million dollars to prevent families from becoming homeless and has made 326 job referrals, provided 467 financial literacy supports, and helped 154 adults secure employment. With a workforce of 53 employees, their mission is to create generational self-sufficiency for the people of Wake County.
Official website here: www.passagehome.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%
Passage Home Inc has received a Three-Star out of Four Star rating from Charity Navigator, reflecting a strong emphasis on accountability and financial practices. The charity's overall score is derived entirely from its Accountability & Finance metrics, where it scored 81%. This indicates a commendable commitment to transparency and responsible management of resources.
The organization showcases several strengths, including a fully independent board, with 16 members, and robust financial oversight mechanisms. It has achieved full points in critical areas such as the presence of an audit and oversight committee, conflict of interest policy, and whistleblower policy. Additionally, the program expense ratio is impressive at 86.77%, showcasing a significant focus on direct programmatic work.
However, the charity's liabilities to assets ratio stands at 86.21%, which reflects a potential area of concern regarding financial stability. While the overall financial practices are strong, this ratio suggests that the organization may have a higher level of liabilities compared to its assets, warranting closer scrutiny in that aspect. Overall, Passage Home Inc demonstrates a solid commitment to accountability while facing some challenges in financial stability.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Passage Home Inc?
90% of 11 reviewers on Facebook recommend Passage Home Inc. Here is a summary of their reviews:
The organization is praised for its commitment to helping those in need, with users expressing gratitude for the support provided. Many appreciate the positive impact that Passage Home Inc has on the community, highlighting its dedication to serving individuals who require assistance.
Overall, it appears that Passage Home Inc is well-regarded among its supporters, who value the meaningful help extended to others. The sentiment reflects a strong belief in the nonprofit's mission and effectiveness.
This AI summary has been generated from reviews found on Facebook.
Is Passage Home Inc legitimate?
Passage Home Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Passage Home 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: $255,106
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,518,775
For more financial information, click here
Official website here: www.passagehome.org
What is the mission statement of Passage Home Inc?
Passage Home Inc's mission is centered around breaking the cycle of poverty. They aim to achieve generational self-sufficiency for individuals and families by providing them with housing and income security. Their programs connect families to affordable housing, reduce homelessness, address food security, increase economic self-sufficiency, help youth develop, provide job training and placement, and improve the built environment. Over the past year, they offered more than 6,500 anti-poverty services, including nearly 2,000 meals to families living in hotels due to housing affordability issues. Passage Home also spent over 1.3 million to prevent families from becoming homeless and paid 747 months of rent for their clients. Furthermore, they made 326 job referrals, offered 467 financial literacy supports, and assisted 154 adults in gaining employment.
Official website here: www.passagehome.org
Who is the CEO of Passage Home Inc?
Seth Friedman is the Board Chair of Passage Home Inc. The CEO's salary of Passage Home Inc is $109,493 and their total compensation is $109,493.
Official website here: www.passagehome.org
What is the revenue of Passage Home Inc?
Passage Home Inc's revenue in 2022 was $5,411,567.
Official website here: www.passagehome.org
Who are the executives of Passage Home Inc and what are their salaries?
The average compensation at Passage Home Inc during 2022 was $33,469. There are 53 employees and 445 volunteers at Passage Home Inc.
Here are 18 key members and their salaries (Passage Home Inc's CEO's salary is $109,493 and their total compensation is $109,493):
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Official website here: www.passagehome.org
Where can I find the form 990 for Passage Home Inc?
Passage Home Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.passagehome.org
Learn more at the official website: www.passagehome.org
Mission Statement of Passage Home Inc
Passage Home Inc, a nonprofit organization, is committed to breaking the cycle of poverty for families in their community. Their mission is to create generational self-sufficiency for the individuals and families residing in Wake County. By providing them with the necessary resources, Passage Home Inc aims to help these families achieve housing and income security.
In pursuit of this mission, Passage Home Inc offers a range of programs to connect families to affordable housing, reduce homelessness, address food security, increase economic self-sufficiency, help youth develop, provide job training and placement, and improve the built environment. Over the past year, the organization has offered more than 6,500 anti-poverty services to both adults and children, which included providing nearly 2,000 meals to families living in hotels due to housing affordability issues. Moreover, Passage Home Inc spent over 1.3 million dollars to prevent families from becoming homeless, paying 747 months of rent to their clients.
Furthermore, Passage Home Inc has been instrumental in making 326 job referrals, providing 467 financial literacy supports, and assisting 154 adults in gaining employment. These initiatives reflect Passage Home Inc's dedication to empowering families and individuals to overcome poverty and establish a self-sufficient life.
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Impact
July, 2024
Passage Home Inc's impact includes breaking the cycle of poverty for families in Wake County by providing a range of services such as connecting families to affordable housing, reducing homelessness, addressing food security, increasing economic self-sufficiency, helping youth develop, providing job training and placement, and improving the built environment. Over the past year, Passage Home has provided more than 6,500 anti-poverty services to adults and children. This includes serving nearly 2,000 meals to families living in hotels due to housing unaffordability and spending over 1.3 million to prevent families from becoming homeless by paying 747 months of rent to clients. Passage Home has also made 326 job referrals, provided 467 financial literacy supports, and helped 154 adults gain employment. These efforts contribute to the mission of breaking the cycle of poverty and creating generational self-sufficiency for individuals and families in Wake County.
This information is meant to be a general summary of Passage Home 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: $76
- Program Service Revenue: $670,256
- Gross Receipts: $5,411,567
Assets and Liabilities:
- Total Assets: $13,185,958
- Total Liabilities: $11,613,800
- Net Assets: $1,572,158
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE (PROGRAM)
Revenue
$670,256
Organization Details
Founding Year
1991
Phone
(919) 834-0666Principal Officer
Seth Friedman
Main Address
PO BOX 28165, RALEIGH, NC, 27611
Website
www.passagehome.orgNTEE Category
Code: L99Z - Housing
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