Overview
What is Washington Street Residents Association?
The Washington Street Residents Association is a nonprofit organization situated in Denver, Colorado. Their primary objective is to offer affordable housing as a Limited Equity Housing Cooperative to families categorized as low-income or very low-income, according to the California Department of Housing. By operating in this capacity, the association aims to contribute to the housing needs of economically disadvantaged families within their community.
Official website here: www.mercyhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 72%, earning a Two-Star out of Four Star rating.
The Washington Street Residents Association has received a moderate rating indicating that while they demonstrate some accountability and transparency, there are notable areas that require improvement. The organization boasts a fully independent board, which is a positive sign for governance, and they have strong policies in place regarding conflict of interest and whistleblower protections.
However, the rating also highlights significant weaknesses, particularly in the size of the independent board and the ratio of liabilities to assets, which raises concerns about financial stability. Additionally, the organization does not post its tax forms on its website, which affects transparency and could hinder public trust. Overall, while the organization shows potential, addressing its financial and transparency weaknesses could enhance its overall effectiveness and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Washington Street Residents Association legitimate?
Washington Street Residents Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Washington Street Residents Association 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: $8,982
For more financial information, click here
Official website here: www.mercyhousing.org
What is the mission statement of Washington Street Residents Association?
The Washington Street Residents Association's primary mission is to offer affordable housing as a Limited Equity Cooperative to low-income families. This non-profit organization strives to provide housing solutions for families who fall under the low-income or very low-income categories, as defined by the California Department of Housing. Their purpose is to ensure that affordable housing remains accessible to those who need it most. The association aims to promote cooperative living, offering a sustainable and equitable housing solution for its members.
Official website here: www.mercyhousing.org
Who is the CEO of Washington Street Residents Association?
Juan Reyna Jr is the President of Washington Street Residents Association.
Official website here: www.mercyhousing.org
What is the revenue of Washington Street Residents Association?
Washington Street Residents Association's revenue in 2022 was $71,273.
Official website here: www.mercyhousing.org
Who are the executives of Washington Street Residents Association and what are their salaries?
There 1 volunteer at Washington Street Residents Association.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mercyhousing.org
Where can I find the form 990 for Washington Street Residents Association?
Washington Street Residents Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mercyhousing.org
Learn more at the official website: www.mercyhousing.org
Mission Statement of Washington Street Residents Association
The Washington Street Residents Association is dedicated to providing affordable housing for low-income families. They operate as a Limited Equity Cooperative, a unique housing model that aims to make homes accessible to those with limited financial resources. The association's mission is in line with the definitions set by the California Department of Housing, catering to low-income or very low-income families. By providing affordable housing, the Washington Street Residents Association aims to contribute positively to the community, ensuring that families in need have a stable living environment.
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Impact
October, 2024
The Washington Street Residents Association plays a crucial role in providing affordable housing to low- and very low-income families in Denver, Colorado. By operating as a limited equity cooperative, the organization creates opportunities for families to access housing that might otherwise be unattainable due to financial constraints. This approach not only fosters a sense of community among residents but also stabilizes neighborhoods by ensuring that families have a secure place to live.
The Association's commitment to affordable housing helps alleviate some of the pressures associated with rising property costs, ultimately contributing to a more equitable housing landscape in the area. By empowering low-income families through cooperative ownership, they promote economic stability and accessibility, ensuring that more individuals have a stake in their living environment and community.
Overall, the impact of the Washington Street Residents Association is significant, as it addresses fundamental housing needs while fostering an inclusive community spirit that benefits both residents and the broader Denver area.
This information is meant to be a general summary of Washington Street Residents Association. 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: $35
- Program Service Revenue: $71,238
- Gross Receipts: $71,273
Assets and Liabilities:
- Total Assets: $372,419
- Total Liabilities: $1,271,634
- Net Assets: -$899,215
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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
$70,390
OTHER REVENUE
Revenue
$823
ANCILLARY SERVICES
Revenue
$25
Organization Details
Founding Year
1990
Phone
(303) 830-3300Principal Officer
Juan Reyna Jr
Main Address
1600 BROADWAY SUITE 2000, DENVER, CO, 802025704
Website
www.mercyhousing.orgNTEE Category
Code: L20Z - Housing
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