Overview
What is New East Properties Inc?
New East Properties Inc is a nonprofit organization situated in Eastern North Carolina. Their primary mission is to offer low-income families in the region a variety of safe and hygienic housing options. By prioritizing this crucial need, they aim to enhance the living conditions of their community members. Their commitment extends beyond providing housing, ensuring that the choices they offer are both safe and sanitary for the families they serve.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33% (Zero-Star out of Four Star Rating)
New East Properties Inc has received a low rating of 33% from Charity Navigator, resulting in a Zero-Star rating. This score reflects significant concerns regarding the organization’s accountability and financial practices, primarily due to missing essential policies and transparency measures. The rating is based exclusively on a single beacon score derived from Accountability & Finance criteria.
The organization demonstrates some strengths, such as having a fully independent board with 100% independent members and no material diversion of assets. However, critical areas for improvement are evident, including the absence of a listed website on the tax form, lack of conflict of interest and whistleblower policies, and missing documentation for board meeting minutes. These deficiencies have adversely affected the overall score and reflect a need for enhanced governance practices.
Additionally, the program expense ratio and liabilities to assets ratio are both reported at 0.00%, indicating possible issues with program funding or reporting. Overall, while New East Properties Inc has a strong independent board structure, its lack of transparency and missing policies significantly limits its operational credibility and effectiveness. Users looking to support this organization should consider these factors carefully.
This AI summary has been generated from information found on Charity Navigator.
Is New East Properties Inc legitimate?
New East Properties Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New East Properties 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 New East Properties Inc?
New East Properties Inc is committed to providing safe and sanitary housing options for low-income families residing in Eastern North Carolina. As part of its mission, the organization strives to expand the housing choices available for these families, ensuring they can live in a clean and secure environment. New East Properties actively supports this goal through various initiatives.
What is the revenue of New East Properties Inc?
New East Properties Inc's revenue in 2023 was $0.
Who are the executives of New East Properties Inc and what are their salaries?
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 New East Properties Inc?
New East Properties Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of New East Properties Inc
New East Properties Inc, a nonprofit organization, is dedicated to providing safe and sanitary housing options for low-income families residing in Eastern North Carolina. The mission of this organization is centered around the belief that every family deserves a decent place to call home. By offering a variety of housing choices, New East Properties aims to enhance the living standards of those who may not have access to such resources otherwise. The organization's mission is a testament to its commitment to improving the quality of life for its community members, ensuring that they have a secure and clean living environment.
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Impact
October, 2024
New East Properties Inc plays a crucial role in enhancing the quality of life for low-income families in Eastern North Carolina by offering safe and sanitary housing options. By prioritizing accessible housing solutions, the organization addresses the significant need for stable living environments, enabling families to thrive. This focus not only fosters community stability but also contributes to the overall economic and social well-being of the region. Through their efforts, New East Properties Inc helps mitigate homelessness and housing insecurity, empowering families to achieve a better quality of life.
This information is meant to be a general summary of New East Properties 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.
Assets and Liabilities:
- Total Assets: $345,352
- Total Liabilities: $0
- Net Assets: $345,352
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Organization Details
Principal Officer
L Gray Matthis
NTEE Category
Code: L20 - Housing
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