Overview
What is Green Planet Company?
Green Planet Company is a nonprofit organization based in Guilford, Connecticut, with a single employee. Their primary mission is to address the affordable housing crisis in Connecticut by developing, redeveloping, managing, financing, sponsoring, investing in, owning, operating, and expanding the availability of affordable housing developments for various income groups, including low, moderate, disabled, elderly, mixed-income, and mixed-use. In 2019, they acquired a 15-acre property at 376 State Street in Guilford, which they later subdivided into four lots. One lot was sold in 2020, while work started on two other lots in November 2020 for standalone affordable homes. In 2021, they completed 90% of the first phase of a 10-home affordable housing project and sold the homes in spring 2022. Preliminary sitework for the remaining 8 homes began in 2021, and as of December 31, 2022, they had completed the first two homes of the second phase. Green Planet Company has spent a total of $2,546,151 on development work, with $1,612,081 of costs removed with property sales in 2020 and 2022.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Star rating
The Green Planet Company has received a zero-star rating from Charity Navigator, reflecting significant concerns about its financial accountability and transparency. With an overall score of 46%, the organization shows weaknesses particularly in the area of financial statements and asset management, which are critical for donor trust and operational integrity.
Despite some positive aspects, such as having a majority of independent board members and a well-defined conflict of interest policy, the organization struggles with compliance in other essential areas. It scored zero points in several categories, including the documentation of financial statements and the posting of necessary tax forms on its website, which raises red flags for potential donors.
Overall, while Green Planet Company exhibits some structural strengths, its lack of transparency and poor financial indicators may deter potential supporters. The limitations highlighted in the rating suggest that the organization has considerable work ahead to improve its accountability and financial management before it can regain donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Green Planet Company legitimate?
Green Planet Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Green Planet Company 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: $26,957
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Green Planet Company?
The Green Planet Company's mission is centered around addressing the affordable housing crisis. It aims to develop, redevelop, manage, finance, sponsor, invest in, own, operate, and expand the availability of affordable housing developments for various income groups. The corporation's activities primarily focus on low and moderate income, disabled, elderly, mixed-income, and mixed-use affordable housing developments. In 2019, the company completed the purchase of a 15-acre property and has since initiated the construction of several affordable housing projects, with various phases underway and homes sold by 2022. The company's investments in these projects totaled $2,546,151 as of December 31, 2022.
Who is the CEO of Green Planet Company?
George Christopher Widmer is the Board Member of Green Planet Company.
What is the revenue of Green Planet Company?
Green Planet Company's revenue in 2022 was $744,985.
Who are the executives of Green Planet Company and what are their salaries?
The average compensation at Green Planet Company during 2022 was $26,957. There is 1 employee at Green Planet Company.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $24,000
- Related: $0
- Other: $2,956
- 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 Green Planet Company?
Green Planet Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Green Planet Company
Green Planet Company, a corporation, is dedicated to addressing the affordable housing crisis. Their mission involves developing, redeveloping, managing, financing, sponsoring, investing in, owning, operating, and expanding the availability of low-income, disabled, elderly, mixed-income, and mixed-use affordable housing developments. By doing so, they aim to provide housing solutions for various groups, including individuals with disabilities, the elderly, and families with moderate incomes. The company's activities are not limited to a specific location, and they strive to make a significant impact in the field of affordable housing.
In 2019, Green Planet Company completed the purchase of a 15-acre property in Guilford, Connecticut, marking the beginning of their mission. In 2020, they subdivided the property and sold a portion of it, partially repaying the acquisition loan. The company then started development work on two separate lots, with plans for standalone affordable homeownership homes. They received a permit for an 8-unit cottage community on the remaining land and began work on Phase 1 of a 10-home affordable housing project in Guilford in 2021. By the end of 2022, they had completed two homes in Phase 1 and commenced work on the remaining seven homes in Phase 2. Throughout this period, the company spent a substantial amount on development work, with costs totaling $2,546,151. These costs included various expenses related to the property development at 376 State Street, Guilford, CT.
In summary, Green Planet Company is a corporation committed to addressing the affordable housing crisis by developing and redeveloping various types of affordable housing developments. Their mission encompasses low-income, disabled, elderly, mixed-income, and mixed-use housing projects, aiming to provide affordable housing solutions for various groups. Their activities in Guilford, Connecticut, have resulted in the completion of several affordable housing projects, with ongoing work to expand their impact.
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Impact
July, 2024
Green Planet Company's impact is focused on addressing the affordable housing crisis in the state of Connecticut. Through developing, managing, and expanding the availability of low and moderate-income, disabled, elderly, mixed-income, and mixed-use affordable housing developments, they are making a tangible difference in providing housing opportunities for those in need. Their ongoing projects, such as the affordable homeownership homes in Guilford, showcase their commitment to creating sustainable and affordable housing options for the community. The company's dedication to this important mission is evident in their continued efforts to provide affordable housing solutions in Connecticut.
This information is meant to be a general summary of Green Planet Company. 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: -$455,229
- Gross Receipts: $1,830,961
Assets and Liabilities:
- Total Assets: $2,692,352
- Total Liabilities: $1,916,699
- Net Assets: $775,653
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Organization Details
Founding Year
2018
Phone
(203) 458-1135Principal Officer
George Christopher Widmer
Main Address
94 STATE STREET, GUILFORD, CT, 06437
NTEE Category
Code: L20 - Housing
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