Overview
What is Cumberland Homes For Elderly Inc?
Cumberland Homes For Elderly Inc, with the operational address at PO Box 1218, Morristown, Tennessee 37816, is a nonprofit organization dedicated to providing housing solutions for low-income elderly and disabled individuals. Regulated by the U.S. Department of Housing and Urban Development (HUD), they manage a complex consisting of 25 rental units, adhering to predefined rent charges and operating methods under Section 202 of the National Housing Act. Their primary mission is to ensure that elderly and handicapped tenants have access to affordable housing, enriching their lives and fostering a supportive community environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 72%, Two-Star out of Four Star Rating
Cumberland Homes For Elderly Inc has received a Two-Star rating from Charity Navigator, with an overall score of 72%. This rating reflects the charity's accountability and finance metrics, which are crucial for assessing the organization's operational transparency and financial health. The charity scores particularly well in areas such as board independence, program expense ratio, and policies related to document retention, indicating a strong commitment to governance practices.
However, the organization faces challenges, notably in its liabilities to assets ratio, which stands at 193.79%. This high ratio suggests potential concerns regarding financial stability and solvency. Additionally, the absence of a whistleblower policy and missing tax documents on the nonprofit's website further highlight areas for improvement in transparency.
Overall, while Cumberland Homes For Elderly Inc demonstrates strengths in accountability and program spending, the issues related to financial liabilities and missing policies may raise questions for potential donors regarding the nonprofit's financial management and operational practices.
This AI summary has been generated from information found on Charity Navigator.
Is Cumberland Homes For Elderly Inc legitimate?
Cumberland Homes For Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cumberland Homes For Elderly 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 Cumberland Homes For Elderly Inc?
Cumberland Homes For Elderly Inc is committed to providing housing for individuals who are both elderly and handicapped, falling under Section 202 of the National Housing Act. Their mission is centered around offering suitable living spaces to these vulnerable groups. The housing complex is regulated by the Department of Housing and Urban Development (HUD), ensuring that rent charges and operational methods adhere to specified standards. Currently, the establishment provides accommodation for 25 such tenants, catering to their housing needs.
Who is the CEO of Cumberland Homes For Elderly Inc?
Kay Hale is the President of Cumberland Homes For Elderly Inc.
What is the revenue of Cumberland Homes For Elderly Inc?
Cumberland Homes For Elderly Inc's revenue in 2023 was $151,932.
Who are the executives of Cumberland Homes For Elderly Inc and what are their salaries?
Here are 11 key members and their salaries:
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Where can I find the form 990 for Cumberland Homes For Elderly Inc?
Cumberland Homes For Elderly Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Cumberland Homes For Elderly Inc
Cumberland Homes for Elderly Inc is dedicated to providing housing solutions for low-income elderly and handicapped individuals. This nonprofit organization operates under Section 202 of the National Housing Act, which sets regulations regarding rent charges and operational methods. The mission of Cumberland Homes for Elderly Inc is to offer suitable living spaces for those who may be financially challenged or physically disabled, ensuring they have access to safe and comfortable housing. With a total of 25 rental units in a complex, this nonprofit organization is committed to making a significant difference in the lives of its tenants, providing them with a secure and supportive environment.
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Impact
October, 2024
Cumberland Homes For Elderly Inc significantly impacts the community by providing stable housing for low-income elderly and handicapped individuals in Morristown, TN. With 25 rental units available, the organization ensures affordable living options regulated by HUD, which helps to limit rent charges and standardize operating methods. This support not only offers a safe and secure living environment but also enhances the quality of life for its tenants, fostering a sense of community among residents. By addressing the housing needs of vulnerable populations, Cumberland Homes contributes to reducing homelessness and instability among elderly individuals, allowing them to live with dignity and in comfort.
This information is meant to be a general summary of Cumberland Homes For Elderly 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: $6
- Program Service Revenue: $88,942
- Gross Receipts: $151,932
Assets and Liabilities:
- Total Assets: $703,964
- Total Liabilities: $1,364,269
- Net Assets: -$660,305
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$88,448
LAUNDRY & VENDING INCO
Revenue
$298
TENANT CHARGES
Revenue
$196
Organization Details
Founding Year
1995
Phone
(423) 587-4500Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 378161218
NTEE Category
Code: L20 - Housing
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