Overview
What is Watertower Residential Inc?
Watertower Residential Inc is a nonprofit organization situated in Merrillville, Indiana. Its primary focus is to provide affordable housing for individuals in need, specifically for residents living in a group home for the mentally ill. The organization offers various programs, with a primary emphasis on low-income housing. Watertower Residential is committed to supporting vulnerable communities, offering essential housing solutions to those who require it.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%
Watertower Residential Inc has received a commendable Four-Star out of Four Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial transparency. With an impressive score of 94%, the organization demonstrates its effectiveness in managing resources, ensuring that funds are utilized efficiently for their programs and services.
One of the standout strengths of Watertower Residential Inc is its governance structure, with a fully independent board comprising 12 members. This independence contributes to a well-rounded decision-making process, reinforced by robust policies regarding conflicts of interest and whistleblower protections. Moreover, the charity boasts a low liabilities to assets ratio of 8.11%, indicating solid financial health.
The organization also excels in its program expense ratio, dedicating approximately 86.63% of its expenditures directly to its programs, which is a significant indicator of its commitment to mission-driven work. Overall, while the ratings highlight the charity's strengths, potential donors can feel confident in supporting an organization that prioritizes financial integrity and effective governance.
This AI summary has been generated from information found on Charity Navigator.
Is Watertower Residential Inc legitimate?
Watertower Residential Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Watertower Residential 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
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What is the mission statement of Watertower Residential Inc?
Watertower Residential Inc is committed to providing low-income housing. Beyond offering housing, they also provide specific programs, such as low-income housing for individuals residing in group homes for the mentally ill. Their mission is centered around offering a living space for those in need, particularly focusing on this specific demographic.
Who is the CEO of Watertower Residential Inc?
Judith K Sikora is the Chairman of Watertower Residential Inc. The CEO's salary of Watertower Residential Inc is $0 and their total compensation is $322,463.
What is the revenue of Watertower Residential Inc?
Watertower Residential Inc's revenue in 2022 was $104,299.
Who are the executives of Watertower Residential Inc and what are their salaries?
There 13 volunteers at Watertower Residential Inc.
Here are 16 key members and their salaries (Watertower Residential Inc's CEO's salary is $0 and their total compensation is $322,463):
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- Related: $204,941
- Other: $39,555
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- Related: $265,323
- Other: $57,140
Where can I find the form 990 for Watertower Residential Inc?
Watertower Residential Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Watertower Residential Inc
Watertower Residential Inc, as a nonprofit organization, is dedicated to providing low-income housing. Beyond offering shelter, Watertower Residential extends its services to a specific population, catering to residents of group homes for individuals with mental illness. This commitment to inclusivity and support allows individuals in need of such housing an opportunity to reside in a safe and nurturing environment. Watertower Residential's mission is to provide a much-needed service, ensuring that those who require affordable housing can find a suitable place to call home, regardless of their mental health status.
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Impact
October, 2024
Watertower Residential Inc plays a crucial role in addressing the housing needs of low-income individuals, particularly those with mental health challenges, in Merrillville, IN. By providing affordable housing options, the organization helps ensure that vulnerable populations have a safe and stable living environment. This stability is essential for fostering well-being and independence, allowing residents to focus on their personal growth and recovery.
In addition to housing, Watertower Residential Inc offers programs tailored to support residents' unique needs. These programs contribute to the overall quality of life for individuals living in group homes, promoting social inclusion and access to essential services. The impact of Watertower Residential Inc extends beyond housing by fostering a sense of community and belonging, which is vital for mental health and recovery.
Overall, Watertower Residential Inc significantly enhances the lives of low-income individuals in Merrillville, addressing both immediate housing needs and long-term personal development.
This information is meant to be a general summary of Watertower Residential 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: $5
- Program Service Revenue: $42,759
- Gross Receipts: $104,299
Assets and Liabilities:
- Total Assets: $1,102,483
- Total Liabilities: $47,655
- Net Assets: $1,054,828
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET RENTAL REVENUE
Revenue
$42,759
Organization Details
Founding Year
2001
Phone
(219) 757-1921Principal Officer
Judith K Sikora
Main Address
8400 LOUISIANA ST, MERRILLVILLE, IN, 464106385
NTEE Category
Code: L20 - Housing
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