Overview
What is Springbrook Apartments Inc?
Springbrook Apartments Inc is a nonprofit organization situated in Liverpool, New York, dedicated to providing senior living accommodations. They accomplish this mission by owning and managing senior citizens housing and retirement communities, catering specifically to the elderly population. This housing project aims to offer a comfortable living environment for the elderly, thereby contributing to their overall well-being and quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Springbrook Apartments Inc has received a commendable Four-Star rating from Charity Navigator, highlighting its strong accountability and financial management. The organization achieved an impressive score of 94% in its Accountability & Finance metrics, indicating effective oversight and transparency in its operations. This score reflects a commitment to ethical governance, as demonstrated by its fully independent board and strong financial practices.
Among its notable strengths, Springbrook Apartments Inc maintains a 100% independent board and has established comprehensive audit and oversight measures. The organization also scores highly on various financial criteria, including a low liabilities to assets ratio of just 2.56%, and a program expense ratio of 77.73%, suggesting that a significant portion of its resources is directed toward its mission-driven activities.
While the data indicates no significant issues, it is important for potential supporters to remember that ratings can fluctuate. Nevertheless, the high scores in areas like conflict of interest and whistleblower policies underscore Springbrook Apartments Inc's commitment to maintaining integrity and fostering trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Springbrook Apartments Inc legitimate?
Springbrook Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Springbrook Apartments 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $39,068
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What is the mission statement of Springbrook Apartments Inc?
Springbrook Apartments Inc is dedicated to serving the elderly population by managing senior citizens housing and retirement communities. Their mission is to provide suitable living spaces for the elderly, overseeing the ownership and operation of these facilities. By doing so, they contribute to the well-being and comfort of the elderly community, offering them a place to retire and live with dignity. Springbrook Apartments Inc's work is focused on ensuring the elderly have access to suitable housing, thereby enhancing their quality of life.
Who is the CEO of Springbrook Apartments Inc?
Mark Palmer is the Director of Springbrook Apartments Inc.
What is the revenue of Springbrook Apartments Inc?
Springbrook Apartments Inc's revenue in 2023 was $705,113.
Who are the executives of Springbrook Apartments Inc and what are their salaries?
The average compensation at Springbrook Apartments Inc during 2023 was $9,767. There are 4 employees at Springbrook Apartments Inc.
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Where can I find the form 990 for Springbrook Apartments Inc?
Springbrook Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Springbrook Apartments Inc
Springbrook Apartments Inc, as a nonprofit organization, is dedicated to providing housing solutions for the elderly. This is achieved through the ownership and operation of senior citizens housing and retirement communities. Springbrook Apartments' mission is to cater to the needs of the elderly, offering them a secure and comfortable living environment. By operating in Liverpool, NY, this housing project serves as a sanctuary for senior citizens, providing them with the necessary amenities and care they require to lead fulfilling lives.
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Impact
July, 2024
Springbrook Apartments Inc's impact is significant in providing affordable housing options specifically tailored for the elderly community in Liverpool, NY. By owning and operating senior citizens housing and retirement communities, Springbrook Apartments enables older individuals to live comfortably and independently while receiving necessary support and care. This contributes to enhancing the quality of life for seniors in the area, ensuring they have access to safe and suitable housing options as they age. Additionally, the organization's focus on housing for the elderly addresses a crucial need within the community and serves as a valuable resource for addressing housing challenges faced by older individuals.
This information is meant to be a general summary of Springbrook Apartments 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 2023.
- Investment Income: $4,221
- Program Service Revenue: $700,892
- Gross Receipts: $705,113
Assets and Liabilities:
- Total Assets: $2,577,325
- Total Liabilities: $66,214
- Net Assets: $2,511,111
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL TO ELDERLY
Revenue
$669,228
MACHINE INCOME
Revenue
$31,664
Organization Details
Founding Year
1970
Phone
(315) 451-9039Principal Officer
Mark Palmer
Main Address
209 SECOND STREET, LIVERPOOL, NY, 13088
NTEE Category
Code: L210 - Housing
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