Overview
What is East Salem Homes Inc?
East Salem Homes Inc, operating under the name University Place, is a nonprofit organization situated in Winston-Salem, North Carolina (NC 27127). Their primary mission is to provide low-income housing services, specifically catering to the elderly and disabled individuals. They manage a 97-unit apartment complex under Section 202 of the U.S. Housing Act of 1959, aiming to offer a suitable living environment for this specific population group.
Official website here: www.nchsm.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (73%)
East Salem Homes Inc has received a two-star rating from Charity Navigator, indicating a "Needs Improvement" status. While the organization excels in accountability and finance, scoring a perfect 100%, there are notable gaps in governance policies that have impacted its overall rating.
The organization has demonstrated strong financial oversight, with a high program expense ratio of 98.90%, indicating that most of its expenses are directed towards its programs. Additionally, East Salem Homes Inc has an independent board with a complete majority and effective audit oversight. However, significant areas for improvement include the absence of a conflict of interest policy and a whistleblower policy, which are essential for ensuring transparency and ethical governance.
Furthermore, the liabilities to assets ratio of 102.08% raises concerns about the organization's financial health, suggesting that liabilities exceed assets. While the organization is making strides in program efficiency, addressing these governance and financial stability issues will be crucial for strengthening its reliability and reputation in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is East Salem Homes Inc legitimate?
East Salem Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. East Salem 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 East Salem Homes Inc?
East Salem Homes Inc is dedicated to providing housing services for low-income elderly and handicapped individuals. Their mission, as outlined, is to develop and operate an apartment complex under Section 202 of the U.S. Housing Act of 1959. Specifically, they are currently operating a 97-unit apartment complex that caters to this demographic. Their goal is to provide a suitable living environment for these individuals, ensuring they have access to safe and affordable housing.
Official website here: www.nchsm.org
Who is the CEO of East Salem Homes Inc?
Tammy Vernon is the Secretary of East Salem Homes Inc.
Official website here: www.nchsm.org
What is the revenue of East Salem Homes Inc?
East Salem Homes Inc's revenue in 2022 was $1,249,166.
Official website here: www.nchsm.org
Who are the executives of East Salem Homes Inc and what are their salaries?
There 4 volunteers at East Salem Homes Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.nchsm.org
Where can I find the form 990 for East Salem Homes Inc?
East Salem 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 East Salem Homes Inc
East Salem Homes Inc, a nonprofit organization, is dedicated to providing housing services for individuals who are both elderly and handicapped, falling under the low-income bracket. Their mission is crystal clear: to develop and manage an apartment complex that caters specifically to this demographic, adhering to Section 202 of the U.S. Housing Act of 1959. This Act is a significant legislative initiative aimed at addressing the housing needs of vulnerable populations. In line with their mission, East Salem Homes Inc operates a 97-unit apartment complex, providing a safe and accessible living environment for these individuals, enabling them to maintain their independence and dignity.
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Impact
July, 2024
East Salem Homes Inc has a significant impact on the community by providing low-income housing services through the operation of a 97 unit apartment complex for elderly and handicapped individuals under Section 202 of the U.S. Housing Act of 1959. This initiative addresses a critical need for affordable housing for vulnerable populations, helping to ensure that these individuals have a safe and secure place to live. By fulfilling its mission to develop and operate an apartment complex under Section 202 of HUD for the low-income elderly and handicapped, East Salem Homes Inc is making a concrete difference in the lives of those in need in Winston-Salem, NC.
This information is meant to be a general summary of East Salem 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: $432
- Program Service Revenue: $234,734
- Gross Receipts: $1,249,166
Assets and Liabilities:
- Total Assets: $2,625,515
- Total Liabilities: $3,045,546
- Net Assets: -$420,031
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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
$232,245
LAUNDRY AND VENDING
Revenue
$2,059
TENANT CHARGES
Revenue
$430
Organization Details
Founding Year
1979
Phone
(336) 765-3906Principal Officer
Tammy Vernon
Main Address
2585 W CLEMMONSVILLE RD SUITE 102, WINSTONSALEM, NC, 27127
Website
www.nchsm.orgNTEE Category
Code: L210 - Housing
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