Overview
What is Bridgewell Merrimac Housing Corporation?
Bridgewell Merrimac Housing Corporation is a nonprofit organization situated in Peabody, Massachusetts. Their primary mission involves offering affordable housing solutions for individuals with disabilities, utilizing public facilities as their base. The organization is dedicated to improving the living conditions of these individuals, providing them with a secure and supportive environment.
Official website here: www.bridgewell.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (62%)
Bridgewell Merrimac Housing Corporation has received a two-star rating on Charity Navigator, indicating a need for improvement in various areas of its governance and financial management. With an overall score of 62%, the organization demonstrates strong program expense management at 88.61%, ensuring that a significant portion of its resources is directed towards its mission. However, the lack of independent board members and issues related to its liabilities to assets ratio reflect areas of concern that may impact its long-term sustainability.
The organization has implemented several positive accountability practices, including conflict of interest and whistleblower policies, which are fully compliant. However, shortcomings in board independence and the reporting of financial documents suggest that transparency may be limited. Furthermore, the organization's high liabilities compared to its assets raise questions about its financial health, which could hinder its effectiveness.
Despite these challenges, Bridgewell Merrimac Housing Corporation's commitment to its programs is evident. Addressing governance issues and improving financial practices could enhance its ratings and credibility within the nonprofit sector, ultimately benefiting the communities it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Bridgewell Merrimac Housing Corporation legitimate?
Bridgewell Merrimac Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bridgewell Merrimac Housing Corporation 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
Official website here: www.bridgewell.org
What is the mission statement of Bridgewell Merrimac Housing Corporation?
Bridgewell Merrimac Housing Corporation is committed to providing affordable housing for individuals with disabilities. They accomplish this goal through the operation of public housing facilities located in various areas. The corporation's mission is to ensure that individuals with disabilities have access to suitable living spaces, thereby enhancing their quality of life. By offering low-income housing options, Bridgewell Merrimac Housing Corporation aims to foster an inclusive and supportive community for those in need. The corporation's efforts contribute to creating a more equitable living environment for individuals with disabilities.
Official website here: www.bridgewell.org
Who is the CEO of Bridgewell Merrimac Housing Corporation?
Christopher Tuttle is the CEO of Bridgewell Merrimac Housing Corporation The CEO's salary of Bridgewell Merrimac Housing Corporation is $0 and their total compensation is $319,909.
Official website here: www.bridgewell.org
What is the revenue of Bridgewell Merrimac Housing Corporation?
Bridgewell Merrimac Housing Corporation's revenue in 2024 was $48,512.
Official website here: www.bridgewell.org
Who are the executives of Bridgewell Merrimac Housing Corporation and what are their salaries?
There 1 volunteer at Bridgewell Merrimac Housing Corporation.
Here are 5 key members and their salaries (Bridgewell Merrimac Housing Corporation's CEO's salary is $0 and their total compensation is $319,909):
- Compensation: $0
- Related: $79,221
- Other: $29,319
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $293,233
- Other: $26,676
- Compensation: $0
- Related: $208,411
- Other: $30,091
- Compensation: $0
- Related: $184,629
- Other: $30,777
Official website here: www.bridgewell.org
Where can I find the form 990 for Bridgewell Merrimac Housing Corporation?
Bridgewell Merrimac Housing Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.bridgewell.org
Learn more at the official website: www.bridgewell.org
Mission Statement of Bridgewell Merrimac Housing Corporation
Bridgewell Merrimac Housing Corporation is committed to providing affordable housing for individuals with disabilities. Their mission is carried out through the operation of public housing facilities situated in Peabody, Massachusetts. This nonprofit organization offers a valuable service, ensuring that individuals with handicaps have access to suitable living arrangements. By offering low-income housing, Bridgewell Merrimac Housing Corporation plays a significant role in enhancing the lives of those who may face challenges in securing suitable housing due to their disabilities. Their efforts contribute to a more inclusive society, ensuring that everyone has the opportunity to live with dignity and independence.
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Impact
August, 2024
Bridgewell Merrimac Housing Corporation's impact is evident through its provision of low-income housing for the handicapped in Peabody, MA. By offering public housing facilities, the organization addresses the crucial need for affordable housing for individuals with disabilities. This not only provides a stable living environment for those in need but also contributes to creating a more inclusive and supportive community. Bridgewell Merrimac Housing Corporation's mission is to ensure that individuals with disabilities have access to safe and affordable housing, thereby improving their quality of life and fostering independence.
This information is meant to be a general summary of Bridgewell Merrimac Housing Corporation. 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 2024.
- Investment Income: $2
- Program Service Revenue: $26,358
- Gross Receipts: $48,512
Assets and Liabilities:
- Total Assets: $670,624
- Total Liabilities: $456,263
- Net Assets: $214,361
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$26,358
Organization Details
Founding Year
2008
Principal Officer
Christopher Tuttle
Website
www.bridgewell.orgNTEE Category
Code: L20 - Housing
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