Overview
What is Stoney Inc?
Stoney Inc serves as the managing general partner for Stoney Creek Associates, a limited partnership, overseeing a low-income housing project. Acquired on July 28, 2017, by an affiliate, Stoney Creek Two LP, this project continues to be a part of their responsibilities. Stoney Inc's role primarily involves managing the day-to-day operations of this affordable housing facility, ensuring it provides a secure and comfortable living environment for its residents.
Official website here: www.edenhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 57%
Stoney Inc has received a One-Star out of Four Star rating from Charity Navigator, reflecting a score of 57%. This rating indicates significant concerns regarding the organization’s financial practices, particularly its low program expense ratio of 4.47%, suggesting that a minimal portion of its budget is directed towards its programs and services. Additionally, the liabilities to assets ratio is alarmingly high at 125,000%, which raises potential red flags about the organization’s financial health and sustainability.
On a more positive note, Stoney Inc displays several strengths in its governance practices. The organization has an entirely independent board, with 17 members, and has received full marks for its conflict of interest and whistleblower policies. It has also demonstrated transparency by listing its website on its tax form and maintaining proper documentation of board meeting minutes. These aspects highlight a commitment to accountability in governance.
However, the salaries of key personnel are notably high, with the president earning $485,893, which may raise concerns regarding resource allocation. The combination of low programming expenditure and high executive compensation presents a contrasting picture of the charity's operational priorities. Overall, while Stoney Inc shows strong governance, its financial management and resource allocation may warrant further scrutiny from donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Stoney Inc legitimate?
Stoney Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Stoney Inc 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.
Official website here: www.edenhousing.org
What is the mission statement of Stoney Inc?
Stony Inc serves as the managing general partner for Stoney Creek Associates, a limited partnership. Their primary responsibility is to oversee the operation of a low-income housing project. In 2017, the project was acquired by an affiliate, Stoney Creek Two LP. Essentially, the mission of Stony Inc revolves around managing and maintaining this low-income housing project to provide affordable living spaces for its residents.
Official website here: www.edenhousing.org
Who is the CEO of Stoney Inc?
Unavailable
Official website here: www.edenhousing.org
What is the revenue of Stoney Inc?
Stoney Inc's revenue in 2022 was $355.
Official website here: www.edenhousing.org
Who are the executives of Stoney Inc and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.edenhousing.org
Where can I find the form 990EZ for Stoney Inc?
Stoney Inc's most recent form 990EZ was submitted in 2022 and can be accessed here.
Official website here: www.edenhousing.org
Learn more at the official website: www.edenhousing.org
Mission Statement of Stoney Inc
Stoney Inc, as a managing general partner, is dedicated to overseeing the operations of Stoney Creek Associates, a limited partnership. This partnership owns and manages a low-income housing project. In July 2017, the project was transferred to an affiliate, Stoney Creek Two, LP, a California limited partnership. Stoney Inc's role in this context is to ensure the project is maintained and operated in a manner that caters to its low-income residents. The organization's mission is focused on providing a suitable living environment for individuals with limited financial means, demonstrating a commitment to social responsibility and affordable housing.
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Impact
October, 2024
Stoney Inc plays a vital role in addressing the housing needs of low-income communities in Hayward, California. By serving as the managing general partner of Stoney Creek Associates, it oversees the operation and management of a low-income housing project, contributing to the availability of affordable housing options in the area.
The organization's focus on ensuring stability and quality in housing supports not just the individual residents but also strengthens the community as a whole. Through effective management and partnership, Stoney Inc helps create a more inclusive environment, allowing residents to thrive in a secure living space. Its commitment to affordable housing has a lasting impact on improving the overall quality of life for those it serves.
This information is meant to be a general summary of Stoney 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.
- Gross Receipts: $355
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $1,650
- Net Assets: -$1,650
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Organization Details
Phone
(510) 582-1460Main Address
22645 GRAND STREET, HAYWARD, CA, 94541
Website
www.edenhousing.orgNTEE Category
Code: L20Z - Housing
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