Bay Oaks Historic Retirement Residence Inc

Charity Navigator Rating: 57%, One-Star out of Four Star rating.

Bay Oaks Historic Retirement Residence Inc has received a low rating primarily due to concerns regarding its governance and financial accountability. The organization has a disconcerting lack of independent board members, scoring 0% in that area, which raises questions about oversight and decision-making. Furthermore, the absence of financial statements significantly harms its transparency, contributing to the overall low rating.

Despite some positive aspects, such as a strong liabilities to assets ratio and a relatively healthy program expense ratio of 66.38%, the lack of critical policies like a whistleblower policy points to potential governance weaknesses. The organization has taken steps to list important documents on its website and maintains conflict of interest policies, but these efforts are overshadowed by the shortcomings in its financial disclosure practices.

Overall, while Bay Oaks Historic Retirement Residence Inc shows commitment in certain areas, the significant gaps in independent governance and financial transparency highlight the need for improvement to better serve its community and build trust with its stakeholders.

This AI summary has been generated from information found on Charity Navigator.

Bay Oaks Historic Retirement Residence Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bay Oaks Historic Retirement Residence 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: $782,599

For more financial information, click here

Official website here: www.bayoaksmiami.com