Overview
What is Golden Homes Inc?
Golden Homes Inc, located in Torrington, Wyoming, is a nonprofit organization dedicated to providing affordable housing for the elderly and handicapped. Established with the mission to construct and lease low-income rental units, the organization currently houses 31 such families. Their primary goal is to cater to the housing needs of this specific demographic in the area, ensuring they have a safe and comfortable living space.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (58%)
Golden Homes Inc has received a One-Star out of Four Star rating from Charity Navigator, indicating concerns regarding its overall accountability and financial practices. While the organization scores well in areas like having an independent board and a high program expense ratio, it faces significant challenges with several missing governance policies and a high liabilities to assets ratio.
The strengths of Golden Homes Inc include strong performance in board independence and a solid commitment to utilizing funds for programs, as reflected by an 88.40% program expense ratio. However, the charity's lack of crucial policies, such as conflict of interest, whistleblower protection, and document retention, raises red flags about its governance and risk management.
Additionally, the absence of tax forms on the nonprofit's website further detracts from its transparency. The high liabilities to assets ratio suggests potential financial instability, which could impact its ability to sustain operations in the long run. Overall, while Golden Homes Inc has positive aspects, its weaknesses in governance and financial health warrant careful consideration by potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Golden Homes Inc legitimate?
Golden Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Golden Homes 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:
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What is the mission statement of Golden Homes Inc?
Golden Homes Inc, as a non-profit organization, was established with the mission to construct and lease affordable rental housing for the elderly and handicapped residents in the area. This mission aims to provide a suitable living space for these vulnerable groups who may face financial constraints. Currently, Golden Homes Inc is providing housing to 31 such families, ensuring they have a place to call home. The organization's activities are focused on making housing accessible for this specific demographic, contributing to their overall well-being and independence.
Who is the CEO of Golden Homes Inc?
Shawn Dimond is the Director of Golden Homes Inc.
What is the revenue of Golden Homes Inc?
Golden Homes Inc's revenue in 2023 was $202,110.
Who are the executives of Golden Homes Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Golden Homes Inc?
Golden Homes Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Golden Homes Inc
Golden Homes Inc, a non-profit organization, was established with a mission to construct and lease low-income rental housing for the elderly and handicapped tenants in the local area. Their primary goal is to provide a secure and affordable living space for those who may face challenges in obtaining such housing due to their age or disability. By leasing these units, Golden Homes Inc is able to offer housing solutions to 31 families, ensuring that they have a safe and comfortable place to call home. The organization's mission is a crucial contribution to the community, as it helps ensure that vulnerable populations have access to adequate housing, promoting their overall well-being and independence.
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Impact
October, 2024
Golden Homes Inc makes a significant impact by providing affordable housing for the elderly and handicapped in Torrington, Wyoming. By constructing and leasing 31 low-income rental units, the organization addresses a critical need for accessible living spaces tailored to vulnerable populations. This initiative not only enhances the quality of life for tenants but also fosters community stability by ensuring that these individuals have a safe and secure place to call home. The presence of Golden Homes Inc helps to alleviate housing insecurity and promotes inclusivity, allowing elderly and handicapped residents to thrive in their community.
This information is meant to be a general summary of Golden Homes 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: $1,676
- Program Service Revenue: $200,434
- Gross Receipts: $202,110
Assets and Liabilities:
- Total Assets: $645,009
- Total Liabilities: $489,939
- Net Assets: $155,070
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL INCOME
Revenue
$200,434
Organization Details
Founding Year
1976
Phone
(307) 532-4105Principal Officer
Shawn Dimond
Main Address
2025 EAST F STREET, TORRINGTON, WY, 82240
NTEE Category
Code: L22 - Housing
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