Overview
What is Stoneridge Residents Association?
The Stoneridge Residents Association is a community-focused nonprofit organization, situated within a retirement community. Their primary objective is to offer college scholarships to employees and their family members. To achieve this, they operate a convenience store serving around 300 residents, utilizing the revenue generated to finance these scholarships and other community projects. A portion of the store's costs, specifically COGS, is returned to residents who sell their handmade crafts on consignment. As of now, the association has successfully awarded scholarships to 24 beneficiaries.
Is Stoneridge Residents Association legitimate?
Stoneridge Residents Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Stoneridge Residents Association submitted a form 990EZ, 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: $0
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What is the mission statement of Stoneridge Residents Association?
The Stoneridge Residents Association's mission is centered around supporting the education of its community members. Specifically, they offer college scholarships to employees and their families. This initiative is funded in part by the revenue generated from operating a convenience store, where a portion of the costs of goods sold is returned to residents who sell crafts on consignment. The association's mission reflects its commitment to investing in the future of its community members and fostering an environment of learning and growth. To date, they have awarded scholarships to 24 individuals within their community.
What is the revenue of Stoneridge Residents Association?
Stoneridge Residents Association's revenue in 2023 was $167,473.
Who are the executives of Stoneridge Residents Association and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990EZ for Stoneridge Residents Association?
Stoneridge Residents Association's most recent form 990EZ was submitted in 2023 and can be accessed here.
Mission Statement of Stoneridge Residents Association
The Stoneridge Residents Association, a nonprofit organization, is committed to supporting the education of its employees and their families within the retirement community it serves. To accomplish this mission, the association operates a convenience store, primarily for the benefit of approximately 300 residents, generating revenue that is subsequently allocated towards community projects. Notably, a portion of the store's costs of goods sold (COGS) is returned to residents who sell their crafts on consignment, contributing to the overall financial sustainability of the initiative.
In line with its mission, the Stoneridge Residents Association has successfully awarded college scholarships to 24 individuals who either work for the association or belong to the families of its employees. This philanthropic endeavor not only highlights the organization's commitment to higher education but also underscores its role in fostering a sense of community and shared success among its members. By providing financial assistance to its employees and their families, the Stoneridge Residents Association serves as a testament to its dedication to empowering individuals and promoting their personal growth and development.
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Impact
October, 2024
The Stoneridge Residents Association significantly enhances the quality of life for its community of approximately 300 residents in Mystic, CT. By operating a convenience store, it not only meets the everyday needs of residents but also generates vital revenue for community-focused projects, including the provision of college scholarships.
The store supports local artisans by returning about $500 of the costs of goods sold back to residents who create crafts for sale on consignment, fostering a spirit of collaboration and creativity within the community. This initiative provides opportunities for residents to engage in meaningful activities while also contributing to the financial sustainability of the association.
A key impact of the Stoneridge Residents Association is its commitment to educational support. It has awarded college scholarships to 24 employees and their immediate family members, promoting educational advancement and providing financial assistance to those within the retirement community. This dedication to supporting the aspirations of its members fosters a sense of community and interconnectedness, ultimately enriching the lives of those involved.
This information is meant to be a general summary of Stoneridge 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 2023.
- Investment Income: $681
- Gross Receipts: $169,993
Assets and Liabilities:
- Total Assets: $67,104
- Total Liabilities: $0
- Net Assets: $67,104
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Organization Details
Principal Officer
Ellen Abell
NTEE Category
Code: P80 - Human services
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