Overview
What is Project Support Housing Ii?
Project Support Housing II is a nonprofit organization situated in Idaho Springs, Colorado. The primary focus of this organization is to provide housing solutions for the elderly with low income. They manage fifteen rental apartments specifically designed for this demographic, with an additional sixteenth apartment reserved for an on-site manager. The organization operates under a regulatory agreement with the U.S. Department of HUD, receiving financial subsidies and adhering to operational restrictions to ensure the provision of affordable housing options for eligible residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58%, One-Star out of Four Stars
Project Support Housing II has received a score of 58%, which indicates areas of concern regarding its accountability and financial practices. Despite this low rating, the organization excels in certain governance aspects, such as having a fully independent board and a strong program expense ratio of 95.42%, meaning the majority of its expenses go directly to its programs.
The nonprofit demonstrates good practices by documenting board meeting minutes and having no material diversion of assets. However, its liabilities to assets ratio is a significant weakness at 91.47%, suggesting potential financial instability that could affect its long-term operations and program effectiveness.
Overall, while Project Support Housing II showcases strengths in governance and program allocation, the high level of liabilities relative to its assets raises red flags for potential donors and stakeholders regarding the organization's sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Project Support Housing Ii legitimate?
Project Support Housing Ii is a legitimate nonprofit organization registered as a 501(c)(3) entity. Project Support Housing Ii 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: $42,255
For more financial information, click here
What is the mission statement of Project Support Housing Ii?
Project Support Housing II's mission is to offer housing solutions for financially disadvantaged elderly individuals. Under a regulatory agreement with the U.S. Department of HUD, fifteen apartments are rented out, and an additional apartment is reserved for an on-site manager. The organization's operations are financially subsidized and regulated by HUD, ensuring that only eligible individuals can reside in the apartments. The primary goal is to provide a secure living environment for low-income seniors in Idaho Springs, Colorado.
Who is the CEO of Project Support Housing Ii?
Mary Ragsdale is the Secretary of Project Support Housing Ii.
What is the revenue of Project Support Housing Ii?
Project Support Housing Ii's revenue in 2022 was $146,369.
Who are the executives of Project Support Housing Ii and what are their salaries?
The average compensation at Project Support Housing Ii during 2022 was $10,564. There are 4 employees at Project Support Housing Ii.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Project Support Housing Ii?
Project Support Housing Ii's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Project Support Housing Ii
Project Support Housing II, a nonprofit organization, is dedicated to providing housing solutions for elderly individuals with low income. Under a regulatory agreement with the U.S. Department of HUD, the organization operates fifteen apartments, offering affordable living spaces to qualified individuals. Furthermore, an additional apartment is reserved for an on-site manager. The regulatory agreement not only provides financial subsidies to sustain the organization's operations but also imposes certain restrictions to ensure the housing is exclusively for very low income seniors. By offering a safe and secure living environment, Project Support Housing II contributes to the well-being and independence of its residents, enabling them to maintain a decent standard of living.
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Impact
October, 2024
Project Support Housing II significantly enhances the lives of very low-income seniors in Idaho Springs, Colorado. By providing fifteen affordable apartments tailored specifically for this demographic, it addresses a critical need for stable housing among elderly residents who might otherwise struggle to find suitable and affordable living arrangements.
The project not only offers a roof over their heads but also fosters a sense of community and support among residents. With a dedicated on-site manager living in the sixteenth apartment, residents have immediate access to assistance and resources, promoting a safe and responsive living environment.
Furthermore, the organization's regulatory agreement with the U.S. Department of HUD ensures that financial subsidies are in place, allowing it to maintain low rental rates while still upholding operational standards. This structure not only secures ongoing support for the residents but also guarantees that the properties are well-managed and compliant with housing regulations.
Overall, Project Support Housing II plays a vital role in improving housing stability, well-being, and community engagement for some of the most vulnerable members of the population in Idaho Springs.
This information is meant to be a general summary of Project Support Housing Ii. 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: $84
- Program Service Revenue: $146,285
- Gross Receipts: $146,369
Assets and Liabilities:
- Total Assets: $2,205,787
- Total Liabilities: $2,017,642
- Net Assets: $188,145
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income
Revenue
$146,285
Organization Details
Founding Year
2004
Phone
(303) 428-1448Principal Officer
Mary Ragsdale
Main Address
PO Box 282, Idaho Springs, CO, 80452
NTEE Category
Code: L212 - Housing
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