Overview
What is Waimanalo Village Residence Corp?
Waimanalo Village Residence Corp is a nonprofit organization situated in Honolulu, Hawaii. Their primary mission is to provide housing solutions for individuals and families with modest income levels. With a team of three dedicated employees, they are committed to making a difference in their community by offering affordable housing options. The organization operates under a mission to ensure that low and moderate-income families and individuals have access to safe and suitable living spaces.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Stars)
Waimanalo Village Residence Corp has earned a Three-Star rating from Charity Navigator, reflecting a solid overall score of 86%. This score is derived entirely from its Accountability & Finance metrics, indicating a strong emphasis on responsible financial practices and governance. The organization has achieved perfect scores in several areas, including independent board membership and conflict of interest policies, which are crucial for ensuring transparency and integrity.
The nonprofit boasts a fully independent board with 10 members, highlighting its commitment to good governance. Its financial statements undergo rigorous audit processes, and the organization has demonstrated a strong financial health by maintaining a liabilities to assets ratio of 0.00%. Additionally, with a program expense ratio of 87.25%, a significant portion of its funding is allocated directly to its programs, which is a positive indicator of its operational efficiency.
However, while the organization shows strength in financial accountability, the summary does not provide insights into its impact or effectiveness in achieving its mission. This could be an area for potential improvement, as prospective donors often seek information on the outcomes of the programs funded by their contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Waimanalo Village Residence Corp legitimate?
Waimanalo Village Residence Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Waimanalo Village Residence Corp 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: $169,406
For more financial information, click here
What is the mission statement of Waimanalo Village Residence Corp?
Waimanalo Village Residence Corp's mission is centered around providing housing solutions. Specifically, they focus on serving individuals and families with modest incomes. Their primary objective is to ensure that these individuals and families have access to suitable housing options. This mission is carried out through various initiatives, all aimed at making housing affordable and accessible for this particular demographic. The organization's activities are geared towards this mission, striving to make a significant impact in the housing sector for low and moderate income earners.
Who is the CEO of Waimanalo Village Residence Corp?
Walter Liu is the Principal Officer of Waimanalo Village Residence Corp.
What is the revenue of Waimanalo Village Residence Corp?
Waimanalo Village Residence Corp's revenue in 2022 was $515,557.
Who are the executives of Waimanalo Village Residence Corp and what are their salaries?
The average compensation at Waimanalo Village Residence Corp during 2022 was $56,469. There are 3 employees and 10 volunteers at Waimanalo Village Residence Corp.
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Where can I find the form 990 for Waimanalo Village Residence Corp?
Waimanalo Village Residence Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Waimanalo Village Residence Corp
Waimanalo Village Residence Corp is a dedicated organization that prioritizes providing housing for individuals and families with modest to low incomes. Its mission, stated in simple terms, is to offer a home for those who might otherwise struggle to find affordable housing. The corporation's primary objective is to ensure that these families and individuals have a roof over their heads, which is a fundamental necessity for a stable living situation. By offering housing, Waimanalo Village Residence Corp contributes significantly to the well-being and overall quality of life of its residents, allowing them to focus on other essential aspects of their lives.
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Impact
July, 2024
Waimanalo Village Residence Corp provides essential housing for low and moderate-income families and individuals in Honolulu, Hawaii. By offering affordable housing options, they directly impact the lives of those in need by providing stable and secure living arrangements. This allows individuals and families to focus on other areas of their lives, such as education, employment, and overall well-being, without the added stress of unaffordable housing costs. Their work plays a critical role in addressing the housing crisis and improving the quality of life for marginalized communities in the area.
This information is meant to be a general summary of Waimanalo Village Residence Corp. 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: $4,394
- Program Service Revenue: $437,705
- Gross Receipts: $515,557
Assets and Liabilities:
- Total Assets: $1,046,096
- Total Liabilities: $0
- Net Assets: $1,046,096
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$435,096
LEGAL FEE REIMBURSEMENT
Revenue
$1,004
LATE FEES AND OTHER
Revenue
$1,605
Organization Details
Founding Year
1973
Phone
(808) 593-6863Principal Officer
Walter Liu
Main Address
C/O HAWAIIANA 711 KAPIOLANI BLVD, HONOLULU, HI, 96813
NTEE Category
Code: L200 - Housing
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