Overview
What is Elderwood Inc?
Elderwood Inc is a nonprofit organization that actively engages in constructing and managing a 30-unit housing facility, adhering to Section 8 of the National Housing Act. Their mission is to provide affordable and suitable living spaces for the elderly and disabled community, specifically in Waycross, Georgia. The organization's objective is to promote inclusivity and improve the quality of life for individuals who may face challenges in securing appropriate housing. Elderwood Inc's commitment to this cause underscores their dedication to social welfare and community development.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars, Needs Improvement, Overall Score: 69%
Elderwood Inc has received a Two-Star rating from Charity Navigator, indicating that the organization shows areas for improvement. With an overall score of 69%, the organization demonstrates satisfactory accountability and finance practices, particularly excelling in areas such as independent board member presence and the implementation of a conflict of interest policy.
However, the organization faces significant challenges, notably a poor liabilities to assets ratio, which scored 0 out of 15 points. This indicates potential financial instability. The program expense ratio is strong at 91.32%, suggesting that the majority of its funds are going towards programs rather than administrative costs, which is a positive aspect of its financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Elderwood Inc legitimate?
Elderwood Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elderwood 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: $11,196
For more financial information, click here
What is the mission statement of Elderwood Inc?
Elderwood Inc's mission is focused on providing housing solutions for elderly and disabled individuals. They accomplish this by constructing and managing a 30-unit apartment complex under Section 8 of the National Housing Act. This initiative aims to offer suitable living spaces for these vulnerable groups, thereby enhancing their quality of life. The company's mission aligns with a broader goal of ensuring that elderly and disabled individuals have access to safe and affordable housing options.
Who is the CEO of Elderwood Inc?
Clarence Billups is the President of Elderwood Inc.
What is the revenue of Elderwood Inc?
Elderwood Inc's revenue in 2023 was $167,816.
Who are the executives of Elderwood 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 Elderwood Inc?
Elderwood Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Elderwood Inc
Elderwood Inc, a nonprofit organization, is committed to providing housing for the elderly and disabled individuals. They accomplish this mission by constructing and operating a 30-unit apartment complex, adhering to Section 8 of the National Housing Act. This housing endeavor aims to offer a safe and suitable living environment for those in need, contributing to their overall well-being and independence. Elderwood Inc's efforts serve as a testament to their dedication to supporting vulnerable populations, ensuring they have access to comfortable and secure housing.
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Impact
October, 2024
Elderwood Inc significantly enhances the lives of elderly and disabled individuals in Waycross, GA, by providing essential housing solutions. Through the construction and operation of a dedicated 30-unit apartment complex, Elderwood ensures that vulnerable members of the community have access to safe, affordable housing. This initiative not only addresses the pressing need for accessible living spaces but also fosters a sense of community and support among residents. By focusing on the needs of the elderly and disabled, Elderwood Inc plays a vital role in promoting dignity, stability, and independence for these individuals in their daily lives.
This information is meant to be a general summary of Elderwood 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: $2,095
- Program Service Revenue: $165,721
- Gross Receipts: $167,816
Assets and Liabilities:
- Total Assets: $582,722
- Total Liabilities: $504,161
- Net Assets: $78,561
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET RENTAL REVENUE
Revenue
$165,367
LAUNDRY OTHER
Revenue
$354
Organization Details
Founding Year
1983
Principal Officer
Clarence Billups
Main Address
PO BOX 1447, Waycross, GA, 31502
NTEE Category
Code: L21Z - Housing
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