Overview
What is Vera House?
Vera House is a nonprofit organization committed to providing affordable housing solutions. It specifically accommodates mentally handicapped individuals, offering 10-spacious bedroom units, in compliance with Section 202 of the National Housing Act, overseen by the HUD. Their mission is to extend a helping hand to those in need of low-income housing options, thereby contributing to the well-being of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58%, One-Star out of Four Star rating. This rating indicates that Vera House has significant challenges, particularly in terms of financial health. The score is based solely on Accountability & Finance, highlighting areas of concern that need addressing.
Despite the low overall score, Vera House demonstrates strengths in governance and program expenses. The organization has a fully independent board, with 100% of its members meeting independence criteria. Additionally, they maintain a high program expense ratio of 88.28%, which indicates that a large portion of their funds is directed toward programmatic activities rather than administrative costs.
However, a notable limitation is the high liabilities to assets ratio, which stands at 137.82%. This figure raises concerns about the organization's financial stability and ability to meet its obligations. While the charity performs well in governance practices, addressing its financial health is crucial for sustainable operations moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Vera House legitimate?
Vera House is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vera House 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
What is the mission statement of Vera House?
Vera House is committed to providing low-income housing solutions. Among its offerings, the organization provides 10-bedroom units specifically for mentally handicapped individuals, in compliance with Section 202 of the National Housing Act, overseen by the HUD. This housing is designed to cater to the needs of this particular group, aiming to provide them with suitable living spaces.
Who is the CEO of Vera House?
Doug Mcbee is the President of Vera House.
What is the revenue of Vera House?
Vera House's revenue in 2023 was $88,801.
Who are the executives of Vera House and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Vera House?
Vera House's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Vera House
Vera House, a nonprofit organization, is dedicated to providing low-income housing options. One of its significant contributions is offering 10-bedroom units to individuals with mental handicaps, in line with Section 202 of the National Housing Act, overseen by the HUD. This initiative ensures that these individuals have access to suitable housing, providing them with a secure and comfortable living environment. Vera House's commitment to this cause aligns with its mission to enhance the quality of life for those in need, particularly by offering housing solutions for individuals with mental handicaps.
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Impact
October, 2024
Vera House plays a crucial role in providing low-income housing options, specifically catering to mentally handicapped individuals. By offering 10-bedroom units under Section 202 of the National Housing Act, Vera House ensures that vulnerable populations have access to safe, affordable living conditions. This support not only addresses immediate housing needs but also fosters a sense of community and stability for residents. Located in Birmingham, Alabama, Vera House’s impact extends beyond housing itself, contributing to the overall well-being and inclusion of individuals with disabilities in society.
This information is meant to be a general summary of Vera House. 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: $346
- Program Service Revenue: $88,455
- Gross Receipts: $88,801
Assets and Liabilities:
- Total Assets: $99,387
- Total Liabilities: $136,984
- Net Assets: -$37,597
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTS
Revenue
$18,622
Organization Details
Founding Year
1986
Phone
(205) 595-4555Principal Officer
Doug Mcbee
Main Address
940 MONTCLAIR ROAD, BIRMINGHAM, AL, 35213
NTEE Category
Code: L21Z - Housing
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