Overview
What is Wholistic Housing Ventures Inc?
Wholistic Housing Ventures Inc is a nonprofit organization dedicated to providing safe and affordable housing for the elderly. Due to pandemic-related damages and insufficient funds, restoration of their apartments was delayed. However, First Citizens Bank extended its Line of Credit until February 2024, and Cornerstone MBC withdrew its property insurance coverage, leading Wholistic Housing Ventures to secure independent coverage. The organization continues its mission, striving to ensure elderlies have access to secure living spaces.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (58%)
Wholistic Housing Ventures Inc has received a One-Star rating from Charity Navigator, indicating significant areas for improvement in its accountability and finance practices. With a total score of 58%, the organization performs well in certain aspects, such as having a fully independent board and maintaining a high program expense ratio of 82.47%. This suggests that a large portion of its resources is directed towards its mission.
However, the nonprofit has notable weaknesses that impact its overall rating. It lacks essential policies, including a conflict of interest policy, whistleblower policy, and document retention guidelines, all of which have resulted in lower scores in the accountability section. Additionally, the absence of its tax form on the nonprofit's website raises concerns about transparency.
Overall, while Wholistic Housing Ventures Inc demonstrates strengths in its governance structure and commitment to its programs, the lack of fundamental policies and transparency measures highlighted by its low rating calls for substantial improvements to bolster its accountability and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Wholistic Housing Ventures Inc legitimate?
Wholistic Housing Ventures Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wholistic Housing Ventures 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.
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What is the mission statement of Wholistic Housing Ventures Inc?
Wholistic Housing Ventures Inc's mission is centered around providing safe and affordable housing for the elderly. Despite facing challenges during the pandemic with excessive damage to their apartments, leading to a slow restoration process due to insufficient funds, the organization has managed to persevere. They secured an extension of their Line of Credit from First Citizens Bank until February 2024, and also acquired independent property insurance coverage after Cornerstone MBC dropped its coverage. Despite the challenges, Wholistic Housing Ventures remains committed to its mission of ensuring elderly individuals have access to safe and affordable housing.
Who is the CEO of Wholistic Housing Ventures Inc?
Mary Williams is the Board Member of Wholistic Housing Ventures Inc.
What is the revenue of Wholistic Housing Ventures Inc?
Wholistic Housing Ventures Inc's revenue in 2022 was $167,865.
Who are the executives of Wholistic Housing Ventures Inc and what are their salaries?
There 20 volunteers at Wholistic Housing Ventures Inc.
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Where can I find the form 990 for Wholistic Housing Ventures Inc?
Wholistic Housing Ventures Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wholistic Housing Ventures Inc
Wholistic Housing Ventures, a nonprofit organization, is committed to providing safe and affordable housing for elderly individuals. Its mission is to ensure that elderly people have access to secure living spaces that cater to their needs and budgets. However, during the pandemic, the organization faced challenges due to excessive damage to their apartments, which slowed down the restoration process. The financial constraints led to a delay in the restoration, but First Citizens Bank extended its Line of Credit until February 2024 to offer Wholistic Housing Ventures some financial relief. Furthermore, Cornerstone MBC dropped its property insurance coverage, forcing the organization to acquire independent coverage to continue its operations and provide safe housing for the elderly.
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Impact
October, 2024
Wholistic Housing Ventures Inc plays a critical role in providing safe and affordable housing specifically tailored for elderly individuals in Greenville, NC. By focusing on the needs of this vulnerable population, the organization addresses significant housing challenges, particularly highlighted during the pandemic when their apartments faced extensive damage.
The impact of Wholistic Housing Ventures extends beyond mere shelter; it represents a commitment to preserving the dignity and wellbeing of seniors. Their efforts to restore damaged units demonstrate resilience and a proactive approach to overcoming financial obstacles, especially with support from First Citizens Bank, which extended a line of credit through February 2024, enabling continued restoration efforts.
Moreover, the organization's response to changes in insurance coverage reflects its dedication to mitigating risks and ensuring consistent protection for its residents. By securing independent insurance, Wholistic Housing Ventures underscores its commitment to providing a safe living environment while navigating the complexities of funding and property management.
Through these initiatives, Wholistic Housing Ventures Inc significantly impacts the lives of elderly individuals by facilitating access to secure housing, promoting community stability, and contributing to the overall quality of life in Greenville.
This information is meant to be a general summary of Wholistic Housing Ventures 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.
- Gross Receipts: $167,865
Assets and Liabilities:
- Total Assets: $493,558
- Total Liabilities: $502,823
- Net Assets: -$9,265
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Organization Details
Founding Year
2001
Phone
(252) 752-4156Principal Officer
Mary Williams
Main Address
1095 Allen Road, Greenville, NC, 27834
NTEE Category
Code: L22 - Housing
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