Overview
What is Faulding Hotel Inc?
Faulding Hotel Inc is a California-based nonprofit organization, specifically a public benefit corporation, situated in Santa Barbara, California. With an 81-room residence at 11 East Haley Street, they provide housing for individuals of low to moderate income. Established with the purpose of purchasing and redeveloping the property, Faulding Hotel Inc's primary mission is dedicated to offering a shelter for this specific demographic. The organization currently employs 14 individuals, working together to fulfill this essential community service.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Stars
Faulding Hotel Inc has received a Three-Star rating from Charity Navigator with an overall score of 79%. This rating reflects a strong focus on accountability and finance, underscoring the organization’s commitment to transparency and responsible financial practices. The score is derived entirely from the Accountability & Finance beacon, which indicates that the organization has robust mechanisms in place to ensure proper governance.
The organization excels in several areas, with a perfect score for having an independent board and maintaining comprehensive financial statements. They have demonstrated effective oversight with an independent board comprised of 100% members. Furthermore, they have implemented key policies such as conflict of interest and whistleblower protections, which contribute to a strong ethical framework.
However, while the financial metrics are favorable, it's important for potential donors to consider the salary of key personnel, which is $139,955 for the Executive Director. This figure may raise questions about compensation relative to the organization’s overall operational efficiency. Overall, Faulding Hotel Inc shows promise in financial management and governance, but potential supporters should weigh these factors against their personal values and priorities.
This AI summary has been generated from information found on Charity Navigator.
Is Faulding Hotel Inc legitimate?
Faulding Hotel Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Faulding Hotel 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: $255,874
For more financial information, click here
What is the mission statement of Faulding Hotel Inc?
Faulding Hotel Inc, as a California non-profit public benefit corporation, primarily focuses on providing housing for individuals with low to moderate income. The organization achieved this by purchasing and redeveloping an 81-room residence. Its primary mission is to serve this specific demographic, ensuring they have access to comfortable living spaces. The organization operates and maintains this residence, located in an undisclosed location, with the aim of promoting affordable housing opportunities for those in need.
What is the revenue of Faulding Hotel Inc?
Faulding Hotel Inc's revenue in 2023 was $980,885.
Who are the executives of Faulding Hotel Inc and what are their salaries?
The average compensation at Faulding Hotel Inc during 2023 was $18,277. There are 14 employees at Faulding Hotel Inc.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $146,060
- Other: $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
- 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 Faulding Hotel Inc?
Faulding Hotel Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Faulding Hotel Inc
Faulding Hotel Inc, as a California non-profit public benefit corporation, is dedicated to a noble mission. Its primary objective is to offer housing solutions to individuals falling within the low to moderate income bracket. Established with the purchase and subsequent redevelopment of an 81-room residence, this organization has positioned itself as a beacon of support for those in need of affordable housing. The organization's operations are centered around the maintenance and management of this residence, ensuring it serves its intended purpose effectively. By providing housing, Faulding Hotel Inc contributes significantly to the well-being and stability of its residents, enabling them to focus on other aspects of their lives.
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Impact
July, 2024
Faulding Hotel Inc's impact lies in providing housing for low to moderate-income individuals in Santa Barbara, California. By purchasing and redeveloping an 81-room residence, the organization is addressing a critical need in the community by offering affordable housing options. This initiative helps to improve the quality of life for individuals who may struggle to find suitable and affordable accommodation. Additionally, Faulding Hotel Inc's efforts contribute to promoting stability and security for those in need, ultimately fostering a sense of community and support for its residents.
This information is meant to be a general summary of Faulding Hotel 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: $2,335
- Program Service Revenue: $892,655
- Gross Receipts: $980,885
Assets and Liabilities:
- Total Assets: $1,189,713
- Total Liabilities: $4,348,235
- Net Assets: -$3,158,522
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LAUNDRY ETC. INCOME
Revenue
$10,159
RENTAL INCOME
Revenue
$882,496
Organization Details
Founding Year
1988
Principal Officer
Cindy Young
NTEE Category
Code: L20Z - Housing
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