Overview
What is Rio Concho Inc?
Rio Concho Inc is a nonprofit organization situated in San Angelo, Texas, specifically at 401 RIO CONCHO DRIVE. Their primary mission is to offer housing solutions for individuals aged 62 years and above. They accomplish this through the rental of apartments and the provision of lifetime leases for patio homes. With a dedicated workforce of 53 employees, Rio Concho Inc is committed to improving the living conditions of the elderly population in their community. By offering secure and comfortable housing, the organization aims to enhance the quality of life for senior citizens.
Official website here: www.rioconcho.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Rio Concho Inc has received a Three-Star rating from Charity Navigator, indicating a strong level of accountability and financial management. The organization scored highly in several key areas, including having a fully independent board and a robust system for auditing and oversight. With a program expense ratio of 92.71%, it demonstrates a commitment to directing funds towards its programs rather than administrative costs.
Despite its strengths, there are some limitations noted in the financial metrics. The organization received a score of 0 out of 15 points for its liabilities to assets ratio, which may indicate potential concerns regarding its financial stability. However, the absence of material diversion of assets and the presence of well-defined governance policies like conflict of interest and whistleblower protections suggest that Rio Concho Inc maintains a solid operational framework.
Overall, while the organization showcases commendable accountability practices and a high program expense ratio, prospective donors may want to consider the implications of the low liabilities to assets score in their decision-making process.
This AI summary has been generated from information found on Charity Navigator.
Is Rio Concho Inc legitimate?
Rio Concho Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rio Concho 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: $106,456
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,136,789
For more financial information, click here
Official website here: www.rioconcho.com
What is the mission statement of Rio Concho Inc?
Rio Concho Inc, as a mission, focuses on providing housing solutions for individuals who have reached the age of 62. This is achieved through the rental of apartments and the offering of lifetime leases for patio homes. The organization's primary goal is to ensure the availability of suitable living spaces for this age group, thereby contributing to their comfort and security. By offering these housing options, Rio Concho Inc aims to enhance the lives of older adults, providing them with a stable living environment.
Official website here: www.rioconcho.com
What is the revenue of Rio Concho Inc?
Rio Concho Inc's revenue in 2023 was $5,077,490.
Official website here: www.rioconcho.com
Who are the executives of Rio Concho Inc and what are their salaries?
The average compensation at Rio Concho Inc during 2023 was $22,201. There are 56 employees and 15 volunteers at Rio Concho Inc.
Here are 16 key members and their salaries:
- Compensation: $103,281
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- Other: $3,175
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Official website here: www.rioconcho.com
Where can I find the form 990 for Rio Concho Inc?
Rio Concho Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.rioconcho.com
Learn more at the official website: www.rioconcho.com
Mission Statement of Rio Concho Inc
Rio Concho Inc, a nonprofit organization, is committed to providing housing solutions for individuals who have reached the age of 62. They accomplish this through the rental of apartments and the offering of lifetime leases for patio homes. The mission of Rio Concho Inc is to ensure that senior citizens have a secure and comfortable living environment, providing them with the peace of mind they deserve in their later years. By providing these housing options, Rio Concho Inc is able to contribute to the well-being of the elderly community, allowing them to maintain their independence and quality of life.
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Impact
July, 2024
Rio Concho Inc's impact is significant in providing housing solutions for individuals aged 62 and older through apartment rentals and lifetime leases of patio homes. By focusing on this specific demographic, the organization plays a crucial role in meeting the housing needs of seniors in San Angelo, Texas. The provision of suitable housing options for older individuals ensures they can enjoy a comfortable and secure living environment while maintaining independence and quality of life. Through their mission-driven approach, Rio Concho Inc contributes to enhancing the well-being and quality of life of seniors in the community, addressing a critical aspect of aging with dignity and respect.
This information is meant to be a general summary of Rio Concho 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 2023.
- Investment Income: $164,246
- Program Service Revenue: $5,379,343
- Gross Receipts: $6,535,446
Assets and Liabilities:
- Total Assets: $20,008,334
- Total Liabilities: $16,404,888
- Net Assets: $3,603,446
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE/MAINTENANCE FEES
Revenue
$2,062,316
AMORTIZATION OF COST FEES
Revenue
$2,016,940
DWELLING RENT
Revenue
$1,195,323
MANAGEMENT FEE
Revenue
$68,459
AMORTIZATION OF DEPOSITS
Revenue
$36,305
Organization Details
Founding Year
1977
Principal Officer
Elisabeth Elsass
Website
www.rioconcho.comNTEE Category
Code: L22 - Housing
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