Colony Retirement Homes Iv Inc

Colony Retirement Homes Iv Inc is a tax-exempt nonprofit organization dedicated to providing affordable housing for seniors with low to moderate income. It operates under the Colony Retirement Homes umbrella, which was established in response to the need for elderly housing in the Worcester area.

History

Colony Retirement Homes, Inc. was founded in 1963 with a charter from the Commonwealth of Massachusetts. The organization's development began with a study by the Worcester City Missionary Society (United Church of Christ) in the early 1960s. Over the years, Colony Retirement Homes has expanded to include multiple sites, with Colony IV being one of them.

Colony IV

Colony IV has 70 apartments, including accommodations for those with mobility impairments. It offers a range of amenities such as one-bedroom and two-bedroom apartments, patio or balcony, air conditioning, spacious closets, and social activities. The community features are designed to foster independence and a sense of community among residents.

Financial Overview

As of recent data, Colony Retirement Homes Iv Inc reported revenue of over $1.5 million, primarily derived from program services, with contributions also playing a significant role[3]. The organization's expenses include salaries and wages for staff, as well as operational costs. It holds substantial total assets, though these are partially offset by total liabilities.

Mission

The mission of Colony Retirement Homes, including Colony IV, is to address the needs of elderly residents with respect, focusing on security, purposefulness, and wellness of mind, body, and spirit. The organization aims to provide a comfortable living environment where residents can maintain their independence and engage in community activities.

Governance

While detailed governance information for Colony Retirement Homes Iv Inc specifically is limited, the broader Colony Retirement Homes organization is overseen by a Board of Directors. The Board includes individuals with diverse backgrounds in business, finance, and community service, ensuring a comprehensive approach to managing and expanding the communities.

Impact and Service

Colony Retirement Homes Iv Inc plays a crucial role in providing affordable housing solutions to seniors in the Worcester area. By offering a supportive community and essential services, it helps residents enjoy a more independent and fulfilling life. The organization's efforts are aligned with broader initiatives to address the housing needs of low and moderate-income seniors across the United States.

[1] https://colonyretirementhomes.org/wp-content/uploads/2024/03/2b-History-Highlights.pdf [2] https://colonyretirementhomes.org/colony-iv/ [3] https://projects.propublica.org/nonprofits/organizations/42668678 [4] https://colonyretirementhomes.org/our-mission/ [5] https://www.guidestar.org/profile/04-2668678