Overview
What is Providence Place Iii Inc?
Providence Place III Inc is a nonprofit organization situated in Southern Pines, North Carolina. Their primary mission is to operate a 40-unit apartment complex, specifically catering to the elderly and disabled residents. Located in Red Springs, North Carolina, the complex falls under Section 202 of the National Housing Act of 1959, enabling affordable housing opportunities for its residents. Providence Place III Inc aims to provide a supportive living environment for its residents, ensuring they can live comfortably and independently within their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 38%, Zero-Star out of Four Star rating.
Providence Place III Inc has received a low rating from Charity Navigator due to significant shortcomings in accountability and financial transparency. The organization scored 38%, indicating a serious lack of independent board members and missing essential policies such as conflict of interest, whistleblower, and document retention policies. Additionally, the organization's website is not listed on their tax form, further hindering transparency.
While the organization does demonstrate a high program expenses ratio of 95.48%, suggesting that the majority of its expenditures are directed towards its programs, the overall financial health is concerning. The liabilities to assets ratio stands at a troubling 234.87%, which raises questions about the sustainability of the organization. The absence of independent board members and proper governance policies is a critical limitation that potential donors and stakeholders should consider.
In summary, while Providence Place III Inc shows a commitment to its programs, the lack of governance and financial transparency presents significant risks. Stakeholders may want to exercise caution and seek further information before engaging with or donating to the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Providence Place Iii Inc legitimate?
Providence Place Iii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Providence Place Iii 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
What is the mission statement of Providence Place Iii Inc?
Providence Place III Inc. operates a 40-unit apartment complex primarily for the elderly and disabled individuals. Their mission is fulfilled under Section 202 of the National Housing Act of 1959, as they provide housing that supports the needs of this specific demographic. The organization's sole focus is on operating this facility, aiming to create an environment that caters to the unique needs of the elderly and disabled residents, ensuring they can live with dignity and independence.
Who is the CEO of Providence Place Iii Inc?
Scott Brewton is the Board Member of Providence Place Iii Inc.
What is the revenue of Providence Place Iii Inc?
Providence Place Iii Inc's revenue in 2023 was $189,732.
Who are the executives of Providence Place Iii Inc and what are their salaries?
There 3 volunteers at Providence Place Iii Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Providence Place Iii Inc?
Providence Place Iii Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Providence Place Iii Inc
Providence Place III Inc, as a nonprofit organization, is dedicated to operating a 40-unit apartment complex specifically catering to the elderly and disabled individuals. This mission is executed under Section 202 of the National Housing Act of 1959, demonstrating the organization's commitment to providing suitable housing solutions for this vulnerable population. The complex, located in Red Springs, NC, serves as a sanctuary for elderly and disabled individuals, offering them a safe and comfortable living environment. Providence Place III Inc's mission is essential in promoting the independence and well-being of its residents, ensuring they can live with dignity and respect.
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Impact
October, 2024
Providence Place III Inc significantly contributes to the well-being of the elderly and disabled community in Southern Pines, North Carolina, by operating a 40-unit apartment complex specifically designed to meet their needs. This initiative not only provides essential housing but also fosters a supportive environment that promotes independence and dignity among its residents. By adhering to the provisions of Section 202 of the National Housing Act of 1959, Providence Place III ensures that affordable housing options are available for vulnerable populations, alleviating the pressure of housing insecurity and enhancing the quality of life for its residents. The complex serves as a vital resource, creating a safe and accessible living space that encourages community and support among its inhabitants.
This information is meant to be a general summary of Providence Place Iii 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: -$2,136
- Program Service Revenue: $109,574
- Gross Receipts: $192,000
Assets and Liabilities:
- Total Assets: $1,203,832
- Total Liabilities: $2,827,528
- Net Assets: -$1,623,696
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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
$107,829
LAUNDRY & VENDING SERV
Revenue
$1,609
TENANT CHARGES
Revenue
$136
Organization Details
Founding Year
1997
Phone
(910) 246-3107Principal Officer
Scott Brewton
Main Address
100 GOSSMAN DRIVE SUITE B, SOUTHERN PINES, NC, 28387
NTEE Category
Code: L99 - Housing
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