Overview
What is Monticello Ecumenical Retirement Center Inc?
Monticello Ecumenical Retirement Center Inc, established in 1982, is a non-profit organization based in Monticello, Arkansas. Its primary mission is to provide housing for the elderly or handicapped, following Section 202 of the National Housing Act. The organization manages Annsword Apartments, a 62-unit rental complex in Monticello, leasing the apartments on a mostly month-to-month basis. The center's major program is its Section 202 Direct Loan, which is regulated by the Department of Housing and Urban Development (HUD) to control rent charges and operating methods. In line with its non-profit status, Monticello Ecumenical Retirement Center Inc is precluded from receiving distributions of project funds under the terms of the regulatory agreement with HUD. The organization operates with a workforce of 4 individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star rating)
Monticello Ecumenical Retirement Center Inc has achieved an 80% score, reflecting a solid level of accountability and financial health. The organization boasts a fully independent board, with ten independent members, and has successfully maintained no material diversion of assets. Their program expense ratio is impressive at 90.77%, indicating that a significant portion of their funds is directed towards their mission-driven activities.
However, the organization has noted some weaknesses in its governance practices. Specifically, the lack of a whistleblower policy and a document retention and destruction policy resulted in zero points in these categories. Despite these gaps, they scored well in other areas, such as maintaining documented board meeting minutes and a strong liabilities to assets ratio, which suggests sound financial management.
Overall, while Monticello Ecumenical Retirement Center Inc demonstrates considerable strengths in its governance and program expense management, addressing the noted policy shortcomings could further enhance its accountability and trustworthiness in the eyes of donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Monticello Ecumenical Retirement Center Inc legitimate?
Monticello Ecumenical Retirement Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Monticello Ecumenical Retirement Center 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: $80,499
For more financial information, click here
What is the mission statement of Monticello Ecumenical Retirement Center Inc?
Monticello Ecumenical Retirement Center Inc, established in 1982, is a non-profit organization with a primary mission to provide housing for the elderly and handicapped, in line with Section 202 of the National Housing Act. They operate Annswood Apartments, a complex of 62 rental units, offering month-to-month leases. Their major program involves a Section 202 direct loan, regulated by the Department of Housing and Urban Development (HUD) in terms of rent charges and operating methods. As a non-profit owner of the project, they are not entitled to distributions of project funds under the regulatory agreement with HUD. In essence, the organization's purpose is to offer housing solutions for the elderly and handicapped.
Who is the CEO of Monticello Ecumenical Retirement Center Inc?
Frank Ferguson is the Pres/Ceo of Monticello Ecumenical Retirement Center Inc. The CEO's salary of Monticello Ecumenical Retirement Center Inc is $0 and their total compensation is $0.
What is the revenue of Monticello Ecumenical Retirement Center Inc?
Monticello Ecumenical Retirement Center Inc's revenue in 2022 was $483,384.
Who are the executives of Monticello Ecumenical Retirement Center Inc and what are their salaries?
The average compensation at Monticello Ecumenical Retirement Center Inc during 2022 was $20,125. There are 4 employees at Monticello Ecumenical Retirement Center Inc.
Here are 4 key members and their salaries (Monticello Ecumenical Retirement Center Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
- 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 Monticello Ecumenical Retirement Center Inc?
Monticello Ecumenical Retirement Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Monticello Ecumenical Retirement Center Inc
Monticello Ecumenical Retirement Center Inc, established in 1982, is a non-profit organization with a primary mission to provide housing for the elderly and individuals with disabilities, in accordance with Section 202 of the National Housing Act. The organization operates Annswood Apartments, a complex comprising 62 rental units, located in Monticello, Arkansas. The project leases these apartments primarily on a month-to-month basis, following regulations set by the Department of Housing and Urban Development (HUD) regarding rent charges and operating methods. Notably, as a non-profit owner of the project, Monticello Ecumenical Retirement Center Inc is not entitled to distributions of project funds, as stipulated in the regulatory agreement with HUD. In essence, the organization's mission is to offer secure and affordable housing solutions for the elderly and individuals with disabilities, adhering to government regulations and operating as a non-profit entity.
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Impact
July, 2024
Monticello Ecumenical Retirement Center Inc's impact is providing essential housing for the elderly or handicapped individuals in Monticello, Arkansas through the operation of Annswood Apartments. The organization offers a place for these vulnerable populations to live independently under the regulatory oversight of the Department of Housing and Urban Development (HUD). By managing this apartment complex of 62 rental units, Monticello Ecumenical Retirement Center Inc plays a crucial role in ensuring that seniors and individuals with disabilities have a safe and affordable place to call home. Through its Section 202 Direct Loan program, the organization contributes to meeting the housing needs of these underserved groups and enriching their quality of life.
This information is meant to be a general summary of Monticello Ecumenical Retirement Center 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 2022.
- Investment Income: $1,300
- Program Service Revenue: $481,086
- Gross Receipts: $483,384
Assets and Liabilities:
- Total Assets: $1,257,528
- Total Liabilities: $360,415
- Net Assets: $897,113
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME-APTS
Revenue
$481,086
Organization Details
Founding Year
1982
Phone
(870) 367-5967Principal Officer
Frank Ferguson
Main Address
570 WEST CONRAD STREET, MONTICELLO, AR, 71655
NTEE Category
Code: L22 - Housing
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