Overview
What is Lowell House Jackson Street Inc?
Lowell House Jackson Street Inc, located at 101 Jackson Street 4th Floor, Lowell, MA 01852, is a nonprofit organization with a specific mission. Primarily, it serves to carry out the business objectives of the Lowell House, Inc. and sublease space. More precisely, they are involved in a sub-sub-sub lease agreement, which is part of their operations. The organization's primary focus revolves around this subleasing activity, aiming to contribute to the larger mission of the Lowell House, Inc.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65% (Two-Star out of Four Star Rating)
Lowell House Jackson Street Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The rating is entirely based on a single beacon score, focusing heavily on the organization's financial practices. With an Accountability & Finance score of 65, it reflects some strengths in governance, such as having a fully independent board and effective document practices for board meetings.
The organization excels in several areas, notably its program expense ratio, which stands at 81.50%. This suggests that a significant portion of its funds is directed towards its programs rather than administrative costs. Additionally, the charity has a strong conflict of interest policy and has demonstrated integrity in avoiding the material diversion of assets, both earning full marks in these areas.
However, the charity faces challenges as indicated by its liabilities to assets ratio, which is at 114.84%, resulting in a zero score for this metric. This could imply potential financial instability or high levels of debt compared to its assets, which may be a concern for potential donors looking for long-term sustainability. Overall, while Lowell House Jackson Street Inc shows promise in governance and program expenditure, financial health remains an area requiring attention.
This AI summary has been generated from information found on Charity Navigator.
Is Lowell House Jackson Street Inc legitimate?
Lowell House Jackson Street Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lowell House Jackson Street 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.
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Lowell House Jackson Street Inc?
Lowell House Jackson Street Inc's primary objective is to execute the business purpose of the Lowell House Inc. This includes subleasing space and entering into subsubsub leases. The organization is involved in a sub-sub-sub lease transaction, as indicated by the New Market Tax Credits mentioned in the description. In simpler terms, Lowell House Jackson Street Inc serves to facilitate the business activities of Lowell House Inc, primarily by managing leased spaces.
Who is the CEO of Lowell House Jackson Street Inc?
William Garr is the Clerk of Lowell House Jackson Street Inc.
What is the revenue of Lowell House Jackson Street Inc?
Lowell House Jackson Street Inc's revenue in 2022 was $51,004.
Who are the executives of Lowell House Jackson Street Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Lowell House Jackson Street Inc?
Lowell House Jackson Street Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lowell House Jackson Street Inc
Lowell House Jackson Street Inc, as stated in its mission, is committed to carrying out the business purpose of the Lowell House, Inc by subleasing space and entering into a sub-sub lease agreement. This organization plays a role in facilitating the subleasing of space, contributing to the overall operations of the Lowell House Inc. While the mission statement primarily focuses on the real estate aspect, it implies that Lowell House Jackson Street Inc is dedicated to fulfilling its responsibilities within the framework of its parent organization. The organization's activities are centered around the subleasing of space and involvement in complex lease agreements, highlighting its role as a key player in real estate transactions.
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Impact
October, 2024
Lowell House Jackson Street Inc plays a crucial role in addressing housing needs within the community of Lowell, MA. By facilitating subleasing arrangements and participating in complex leasing transactions, the organization ensures the continued availability of essential space for services related to housing. This directly supports individuals and families seeking stable living conditions, thereby contributing to community well-being.
Through its involvement in New Market Tax Credit transactions, the organization also aids in fostering economic growth in the area. This initiative not only promotes the development of housing but also encourages investment in the local economy, paving the way for improved living standards and opportunities for residents. As a stakeholder in the mission of Lowell House, Inc, Lowell House Jackson Street Inc is integral to the broader effort to enhance housing availability and support for vulnerable populations in the region.
This information is meant to be a general summary of Lowell House Jackson Street 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: $4
- Program Service Revenue: $51,000
- Gross Receipts: $51,004
Assets and Liabilities:
- Total Assets: $1,447,414
- Total Liabilities: $1,662,311
- Net Assets: -$214,897
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FROM CSA IMPORT
Revenue
$51,000
Organization Details
Founding Year
2019
Principal Officer
William Garr
Main Address
101 JACKSON STREET 4TH FLOOR, LOWELL, MA, 01852
NTEE Category
Code: L25 - Housing
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