Overview
What is Open Doors Solutions Inc?
Open Doors Solutions Inc, based in Atlanta, Georgia, is a nonprofit organization dedicated to ensuring a continuous supply of housing for individuals transitioning out of homelessness. They achieve this by establishing connections between property owners seeking tenants and nonprofits providing support for the homeless. In 2022, Open Doors navigated 536 multifamily communities and partnered with 170 property owners and management companies to secure rental homes for 936 people in the Atlanta region. The organization, with a team of 18 employees, has been thriving in Atlanta's challenging housing market, which features low vacancy rates, high turnover, and significant rental rate increases.
Official website here: www.opendoorsatl.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Star Rating)
Open Doors Solutions Inc has received a solid Four-Star rating from Charity Navigator, indicating strong performance particularly in the Accountability & Finance category. This high rating is reflective of the organization's commitment to transparency and responsible financial practices. The charity boasts an impressive score of 92, which highlights its effective management of resources and adherence to financial oversight.
The organization shows notable strengths with 100% independent board members, a robust audit and oversight committee, and no material diversions of assets reported. Additionally, its program expense ratio of 83.59% suggests that a substantial portion of its funding is directly allocated to programs rather than administrative costs. This focus on programmatic spending enhances its credibility and demonstrates a dedication to its mission.
However, there are a couple of areas for improvement, as indicated by the missing whistleblower and document retention policies, which could enhance governance and risk management practices further. Despite these limitations, the overall performance of Open Doors Solutions Inc is commendable, with effective fundraising efficiency and a positive liabilities to assets ratio, demonstrating financial stability.
This AI summary has been generated from information found on Charity Navigator.
Is Open Doors Solutions Inc legitimate?
Open Doors Solutions Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Open Doors Solutions 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $787,069
For more financial information, click here
Official website here: www.opendoorsatl.org
What is the mission statement of Open Doors Solutions Inc?
Open Doors Solutions Inc's mission is centered around establishing connections between non-profit organizations serving individuals transitioning out of homelessness and property owners seeking residents. The primary goal is to ensure a consistent availability of housing for those in need. The organization is constantly seeking funding for its Property Navigation service, a crucial program that recruits properties and management companies for its portfolio. Despite the challenging market conditions in 2022 with low vacancy rates, high ownership turnover, and significant rental rate increases, Open Doors has managed to grow and expand, partnering with 170 participating property owners and management companies, listing 536 multifamily communities, and securing rental homes for 936 people in the Atlanta region.
Official website here: www.opendoorsatl.org
Who is the CEO of Open Doors Solutions Inc?
Matt Hurd is the President (Chair) of Open Doors Solutions Inc.
Official website here: www.opendoorsatl.org
What is the revenue of Open Doors Solutions Inc?
Open Doors Solutions Inc's revenue in 2022 was $6,688,035.
Official website here: www.opendoorsatl.org
Who are the executives of Open Doors Solutions Inc and what are their salaries?
The average compensation at Open Doors Solutions Inc during 2022 was $43,726. There are 18 employees and 10 volunteers at Open Doors Solutions Inc.
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Official website here: www.opendoorsatl.org
Where can I find the form 990 for Open Doors Solutions Inc?
Open Doors Solutions Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.opendoorsatl.org
Learn more at the official website: www.opendoorsatl.org
Mission Statement of Open Doors Solutions Inc
Open Doors Solutions Inc is an organization with a mission to bridge the gap between non-profit organizations serving individuals transitioning out of homelessness and property owners seeking residents. Their goal is to ensure that homes remain available for those in need, acting as a vital intermediary in the process. The organization's primary focus is on facilitating connections between non-profits and property owners and management companies. This collaboration allows Open Doors to expand its portfolio of available housing options, providing a much-needed resource for individuals in need of a home.
In achieving their mission, Open Doors Solutions Inc constantly seeks funding for their Property Navigation services. This program serves as the frontline for recruiting properties and management companies, playing a crucial role in securing rental homes for individuals exiting homelessness. Despite the challenges presented by the Atlanta's multifamily housing market in 2022, including low vacancy rates, high ownership turnover, and dramatic rental rate increases, Open Doors has managed to grow and expand its reach. In 2022, their Navigation team partnered with 170 participating property owners and management companies, listing 536 multifamily communities and collaborating with 137 nonprofit organizations. As a result of these efforts, Open Doors was able to secure rental homes for 936 people in the Atlanta region, demonstrating the organization's commitment to its mission and the impact it has on the lives of those it serves.
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Impact
July, 2024
Open Doors Solutions Inc's impact is significant in the Atlanta region, where they work tirelessly to secure rental homes for individuals exiting homelessness. Through their property navigation services, Open Doors has established partnerships with 170 property owners and management companies, listing 536 multifamily communities. In 2022 alone, they were able to secure housing for 936 people in need. Despite the challenges posed by low vacancy rates, high ownership turnover, and rental rate increases in the housing market, Open Doors has continued to grow and expand its services, ensuring that homes are always available for those seeking shelter. Their dedication to making connections between nonprofits serving the homeless and property owners seeking residents has made a tangible difference in the lives of many individuals in the Atlanta community.
This information is meant to be a general summary of Open Doors Solutions 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: -$6,343
- Program Service Revenue: $1,354,712
- Gross Receipts: $6,717,288
Assets and Liabilities:
- Total Assets: $5,703,876
- Total Liabilities: $436,141
- Net Assets: $5,267,735
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACTS
Revenue
$1,354,712
Organization Details
Founding Year
2018
Phone
(678) 852-2371Principal Officer
Matt Hurd
Main Address
2872 WOODCOCK BLVD 211, ATLANTA, GA, 30341
Website
www.opendoorsatl.orgNTEE Category
Code: P20 - Human services
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