Overview
What is Wellington Homes For Elderly Inc?
Wellington Homes For Elderly Inc, located in Morristown, Tennessee, is a nonprofit organization with a mission to provide housing for low-income elderly and handicapped individuals. Regulated by HUD, they manage a complex with 12 rental units, ensuring that rent charges and operating methods adhere to national housing act guidelines under Section 202. Their main activity revolves around offering housing solutions, contributing positively to the community by addressing the housing needs of this specific demographic.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 72%)
Wellington Homes For Elderly Inc has received a two-star rating from Charity Navigator, indicating areas needing improvement despite its high score in accountability and finance, which stands at 100%. The organization demonstrates strong governance practices, including a fully independent board and effective conflict of interest policies, contributing positively to its overall assessment.
However, the organization struggles with a high liabilities to assets ratio of 228.91%, which raises concerns about its financial health. Additionally, it lacks essential website disclosures, such as posting tax forms and a whistleblower policy, which may affect transparency and trust among stakeholders. While the program expense ratio is commendable at 80.03%, the noted financial limitations and accountability transparency issues highlight the need for further organizational improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Wellington Homes For Elderly Inc legitimate?
Wellington Homes For Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wellington 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 Wellington Homes For Elderly Inc?
Wellington Homes For Elderly Inc is committed to providing housing for low-income elderly and handicapped individuals. This is in line with Section 202 of the National Housing Act. The organization's mission is to offer suitable living spaces for those in need, regulated by the Department of Housing and Urban Development (HUD) in terms of rental charges and operational methods. Currently, the complex houses 12 such tenants, offering them a safe and affordable place to reside.
Who is the CEO of Wellington Homes For Elderly Inc?
Kay Hale is the President of Wellington Homes For Elderly Inc.
What is the revenue of Wellington Homes For Elderly Inc?
Wellington Homes For Elderly Inc's revenue in 2023 was $67,874.
Who are the executives of Wellington 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 Wellington Homes For Elderly Inc?
Wellington Homes For Elderly Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Wellington Homes For Elderly Inc
Wellington Homes for Elderly Inc, a nonprofit organization, is dedicated to providing housing for low-income elderly and handicapped individuals. Aligned with Section 202 of the National Housing Act, this mission is aimed at offering a secure living space for those in need. Regulated by the Department of Housing and Urban Development (HUD), Wellington Homes ensures reasonable rent charges and operates in accordance with established methods. The organization currently manages 12 rental units, providing a much-needed shelter and sense of community for its tenants.
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Impact
August, 2024
Wellington Homes For Elderly Inc provides essential housing for low-income elderly and handicapped tenants in Morristown, TN. By offering 12 rental units in their complex, the organization plays a crucial role in meeting the housing needs of vulnerable populations. Through their mission to provide affordable housing under Section 202 of the National Housing Act, Wellington Homes For Elderly Inc positively impacts the lives of those who may not have affordable housing options otherwise. Their work helps ensure that low-income elderly and handicapped individuals have safe and stable housing, enhancing their overall quality of life and well-being.
This information is meant to be a general summary of Wellington 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: $4
- Program Service Revenue: $41,771
- Gross Receipts: $67,874
Assets and Liabilities:
- Total Assets: $273,638
- Total Liabilities: $626,391
- Net Assets: -$352,753
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$40,849
LAUNDRY & VENDING INCO
Revenue
$656
TENANT CHARGES
Revenue
$266
Organization Details
Founding Year
1996
Phone
(423) 587-4500Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 378161218
NTEE Category
Code: L22 - Housing
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