Overview
What is Plaza Terrace Mutual Housing Association Inc?
Plaza Terrace Mutual Housing Association Inc is a nonprofit organization located at 95 Niles Street, Hartford, CT 06105. Their primary mission is to provide affordable housing opportunities to individuals and families with low and moderate incomes, utilizing 14 units for this purpose. The organization's core activity is dedicated to ensuring affordable living solutions for their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Plaza Terrace Mutual Housing Association Inc has received a commendable score of 94%, reflecting strong performance in accountability and finance. This rating indicates that the organization operates with a high level of transparency and effective resource management, scoring particularly well on its independent board governance and absence of material asset diversion.
The organization exhibits notable strengths, including a fully independent board of directors, a robust conflict of interest policy, and a detailed whistleblower policy. With a program expense ratio of over 90%, it demonstrates a commitment to allocating resources directly towards its programs rather than administrative costs. These metrics suggest a well-structured approach to governance and financial stewardship.
However, while the charity showcases impressive financial health and governance practices, continual monitoring of operational effectiveness and program impact may be beneficial for ongoing improvement. Overall, Plaza Terrace Mutual Housing Association Inc stands out as a responsible nonprofit focused on its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Plaza Terrace Mutual Housing Association Inc legitimate?
Plaza Terrace Mutual Housing Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Plaza Terrace Mutual Housing Association 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: $0
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What is the mission statement of Plaza Terrace Mutual Housing Association Inc?
The Plaza Terrace Mutual Housing Association Inc is committed to providing affordable housing solutions. They achieve this by utilizing 14 units to accommodate low and moderate income individuals and families. The organization's primary objective is to make housing accessible for those who may not be able to afford it otherwise. By offering these units, they contribute to the betterment of the community by ensuring a stable living environment for a wide range of families. The Association's mission is centered around the belief that everyone deserves a decent place to live, regardless of their income level.
Who is the CEO of Plaza Terrace Mutual Housing Association Inc?
Catherine Mackinnon is the President of Plaza Terrace Mutual Housing Association Inc.
What is the revenue of Plaza Terrace Mutual Housing Association Inc?
Plaza Terrace Mutual Housing Association Inc's revenue in 2022 was $208,066.
Who are the executives of Plaza Terrace Mutual Housing Association Inc and what are their salaries?
There 3 volunteers at Plaza Terrace Mutual Housing Association Inc.
Here are 7 key members and their salaries:
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- Related: $129,554
- Other: $30,677
- Compensation: $0
- Related: $81,926
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Where can I find the form 990 for Plaza Terrace Mutual Housing Association Inc?
Plaza Terrace Mutual Housing Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Plaza Terrace Mutual Housing Association Inc
Plaza Terrace Mutual Housing Association Inc is committed to providing affordable housing solutions for low and moderate income individuals and families. This nonprofit organization achieves this mission by utilizing 14 housing units. By offering affordable housing, Plaza Terrace Mutual Housing Association Inc plays a significant role in supporting those who may otherwise struggle to secure suitable living arrangements. The organization's mission is to make a tangible difference in the lives of its residents, providing them with a stable, affordable living environment.
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Impact
October, 2024
Plaza Terrace Mutual Housing Association Inc impacts the community by providing affordable housing to low and moderate-income individuals and families in Hartford, CT. By maintaining 14 housing units, the association plays a crucial role in enhancing the living conditions of those who may otherwise struggle to find suitable accommodation. This effort not only helps reduce housing insecurity but also fosters a sense of community and stability among residents. The availability of affordable housing allows families to allocate resources toward education, health, and other essential needs, ultimately contributing to the overall improvement of the community.
This information is meant to be a general summary of Plaza Terrace Mutual Housing Association 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: $59
- Program Service Revenue: $207,627
- Gross Receipts: $208,066
Assets and Liabilities:
- Total Assets: $743,184
- Total Liabilities: $52,691
- Net Assets: $690,493
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$207,627
Organization Details
Founding Year
1994
Phone
(860) 296-1797Principal Officer
Catherine Mackinnon
Main Address
95 NILES STREET, HARTFORD, CT, 06105
NTEE Category
Code: S99Z - Community improvement
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