Overview
What is Millbrook Homes Inc?
Millbrook Homes Inc, located in Winston-Salem, North Carolina, is a nonprofit organization engaged in providing housing solutions for low-income individuals. They operate a 144-unit apartment complex, adhering to Section 236 of the U.S. Housing Act of 1959. The organization's primary mission is to develop and manage this apartment complex, ensuring it serves as a comfortable living space for those in need. Millbrook Homes Inc continues its mission under the name Millbrook Apartments, contributing positively to the local community.
Official website here: www.nchsm.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star Rating)
Millbrook Homes Inc has earned a Three-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 88% overall, with a perfect score of 100% for independent board members. This indicates a commitment to governance and accountability, which are important factors for donor confidence.
The financial health of Millbrook Homes Inc appears robust, as evidenced by a high program expense ratio of 98.77%, indicating that most of its funds are directed towards its programs rather than administrative costs. Additionally, the organization has demonstrated good practices with an audit and oversight committee, and there were no material diversions of assets reported.
However, there are some limitations noted in their governance practices. Millbrook Homes Inc lacks a conflict of interest policy and a whistleblower policy, which could raise concerns about transparency and ethical standards. Furthermore, their tax form is not posted on their website, which could limit access to important financial information for potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Millbrook Homes Inc legitimate?
Millbrook Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Millbrook Homes 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: $0
For more financial information, click here
Official website here: www.nchsm.org
What is the mission statement of Millbrook Homes Inc?
Millbrook Homes Inc's mission revolves around providing housing solutions for individuals with low income. Specifically, they develop and operate a Section 236 apartment complex, adhering to the guidelines set by the National Housing Act of 1959 in the United States. This complex serves as a home for many, offering them a place to live with affordable housing options. Millbrook Homes Inc is committed to making a positive impact in the lives of these individuals by providing them with a suitable living environment.
Official website here: www.nchsm.org
Who is the CEO of Millbrook Homes Inc?
Tammy Vernon is the Secretary of Millbrook Homes Inc.
Official website here: www.nchsm.org
What is the revenue of Millbrook Homes Inc?
Millbrook Homes Inc's revenue in 2022 was $856,890.
Official website here: www.nchsm.org
Who are the executives of Millbrook Homes Inc and what are their salaries?
There 4 volunteers at Millbrook Homes Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.nchsm.org
Where can I find the form 990 for Millbrook Homes Inc?
Millbrook Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nchsm.org
Learn more at the official website: www.nchsm.org
Mission Statement of Millbrook Homes Inc
Millbrook Homes Inc, as a nonprofit organization, is dedicated to the mission of developing and operating a Section 236 apartment complex specifically designed for individuals with low income. Under the National Housing Act of 1959, Millbrook Homes Inc manages a 144-unit residential complex, providing affordable housing solutions to those in need. The organization's objective is to ensure that low-income individuals have access to safe and comfortable living spaces, thereby contributing to their overall well-being. Millbrook Homes Inc upholds this mission by diligently maintaining and managing the 144-unit apartment complex, ensuring that it meets the necessary standards and requirements for its inhabitants.
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Impact
July, 2024
Millbrook Homes Inc's impact lies in its provision of affordable housing to low-income individuals through the operation of a 144-unit apartment complex under Section 236 of the U.S. Housing Act of 1959. By developing and managing this apartment complex in Winston-Salem, NC, Millbrook Homes Inc plays a crucial role in addressing the housing needs of individuals who might otherwise struggle to secure decent and affordable housing. This impact directly contributes to promoting stability and dignity for individuals in need of affordable housing in the community.
This information is meant to be a general summary of Millbrook Homes 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: $41
- Program Service Revenue: $809,165
- Gross Receipts: $856,890
Assets and Liabilities:
- Total Assets: $1,646,659
- Total Liabilities: $346,625
- Net Assets: $1,300,034
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL PAYMENTS
Revenue
$790,103
TENANT CHARGES
Revenue
$12,892
FORMER TENANT COLLECTI
Revenue
$6,170
Organization Details
Founding Year
1996
Phone
(336) 765-3906Principal Officer
Tammy Vernon
Main Address
2585 W CLEMMONSVILLE RD SUITE 102, WINSTONSALEM, NC, 27127
Website
www.nchsm.orgNTEE Category
Code: L25Z - Housing
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