Overview
What is Treasure Of Hope Inc?
Treasure Of Hope Inc, situated in Springfield, Massachusetts, is a nonprofit organization committed to serving the elderly and disabled. Their primary mission involves offering residential placement services and adult foster care. The organization takes a creative approach to cater to the unique needs of its residents, ensuring a comfortable and supportive living environment. Although the information provided is concise, Treasure Of Hope Inc demonstrates a dedication to enhancing the quality of life for its vulnerable population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69%, earning a Two-Star out of Four Star rating. This rating indicates that while Treasure Of Hope Inc demonstrates some strong practices in governance and accountability, there are significant areas of concern regarding financial transparency and management.
The organization has a perfect score in areas such as having a majority independent board members, material diversion of assets, and maintaining a conflict of interest policy. Additionally, they excel in their program expense ratio, illustrating effective use of funds towards their programs. However, the organization faces challenges with its independent board size and fails to post its tax form on its website, which can affect stakeholders' trust.
Limited transparency is highlighted by a poor liabilities to assets ratio, indicating financial management issues that need addressing. While their strengths in governance are commendable, the noted limitations suggest a need for improved financial reporting and transparency to enhance their overall rating and stakeholder confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Treasure Of Hope Inc legitimate?
Treasure Of Hope Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Treasure Of Hope 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: $165,228
Professional Fundraising Fees: $0
Other Salaries and Wages: $11,669
For more financial information, click here
What is the mission statement of Treasure Of Hope Inc?
Treasure of Hope Inc. is committed to serving the elderly and disabled community by offering residential placement services and adult foster care. Their mission involves catering to the unique needs of their residents, ensuring they provide suitable programs and services to enhance their quality of life. Although the specific details of their mission, such as advocacy or research, are not explicitly mentioned, it is clear that their focus is on providing a supportive living environment for those who require special care.
Who is the CEO of Treasure Of Hope Inc?
Sheena Love is the President of Treasure Of Hope Inc.
What is the revenue of Treasure Of Hope Inc?
Treasure Of Hope Inc's revenue in 2022 was $51,948.
Who are the executives of Treasure Of Hope Inc and what are their salaries?
The average compensation at Treasure Of Hope Inc during 2022 was $88,448. There are 2 employees at Treasure Of Hope Inc.
There is 1 key member and their salary:
- Compensation: $152,948
- Related: $0
- Other: $0
Where can I find the form 990 for Treasure Of Hope Inc?
Treasure Of Hope Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Treasure Of Hope Inc
Treasure of Hope Inc, a nonprofit organization, is dedicated to serving the elderly and disabled community. Its mission encompasses providing residential placement services and adult foster care. This organization aims to cater to the unique needs of its residents, ensuring they receive the care and support they require. By offering a variety of programs, Treasure of Hope Inc strives to enhance the quality of life for its elderly and disabled residents, promoting their overall well-being and independence.
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Impact
August, 2024
Treasure Of Hope Inc has a significant impact on the lives of the elderly and disabled individuals in Springfield, MA. Through its creative placement and adult foster care programs, the organization provides a supportive and caring environment for those in need. This impact extends beyond just basic care, as Treasure Of Hope works to enhance the quality of life for its residents by catering to their specific needs and fostering a sense of community and belonging. The organization plays a crucial role in ensuring the well-being and happiness of its residents, making a positive difference in their lives every day.
This information is meant to be a general summary of Treasure Of Hope 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 2022.
- Investment Income: $913
- Program Service Revenue: $51,035
- Gross Receipts: $51,948
Assets and Liabilities:
- Total Assets: $423,183
- Total Liabilities: $828,562
- Net Assets: -$405,379
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
general
Revenue
$51,035
Organization Details
Founding Year
2010
Phone
(413) 732-6060Principal Officer
Sheena Love
Main Address
44 EDGEWOOD ST, Springfield, MA, 01109
NTEE Category
Code: P81 - Human services
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