Overview
What is Luminest Inc?
Luminest Inc, based in Chambersburg, Pennsylvania, is a nonprofit organization with a strong commitment to providing affordable housing for individuals with low and moderate incomes. As the general partner and developer of several affordable housing projects and an advocate for other related initiatives, Luminest Inc plays a crucial role in enhancing living conditions for this demographic. The organization adheres to the Pennsylvania not-for-profit law, allowing it to engage in various activities beyond just housing. With a dedicated workforce of around 30 individuals, Luminest Inc remains dedicated to its mission, contributing positively to its community.
Official website here: www.luminest.org
What are the reviews and ratings of this charity?
75% - Three-Star out of Four Star rating
Luminest Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. The charity excels in governance, boasting a high percentage of independent board members and no material diversion of assets. This strong oversight is reflected in their comprehensive policies regarding conflict of interest, whistleblower protections, and document management.
The organization demonstrates effective financial management with a liabilities to assets ratio of 6.59%, suggesting a healthy financial position. Additionally, their program expense ratio of 65.27% shows that a significant portion of their expenditures is directed towards their programs, although there is room for improvement in this area compared to industry standards.
While Luminest Inc shows commendable accountability practices, ongoing efforts to increase their program expense ratio could enhance their overall impact. Overall, the charity's operations appear transparent and well-managed, making it a reliable option for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Luminest Inc legitimate?
Luminest Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Luminest 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: $230,099
Professional Fundraising Fees: $0
Other Salaries and Wages: $285,927
For more financial information, click here
Official website here: www.luminest.org
What is the mission statement of Luminest Inc?
Luminest Inc, as a not-for-profit entity, is committed to providing decent and affordable housing for individuals with low and moderate income. In line with Pennsylvania's not-for-profit laws, the organization engages in various activities beyond this primary mission. Luminest Inc serves as the general partner and developer in several affordable housing projects, and it has also sponsored various initiatives aimed at promoting affordable housing. The corporation's primary goal is to contribute to the housing needs of individuals with limited financial resources, thereby improving their living standards.
Official website here: www.luminest.org
Who is the CEO of Luminest Inc?
Bonnie Zehler is the Chair of Luminest Inc.
Official website here: www.luminest.org
What is the revenue of Luminest Inc?
Luminest Inc's revenue in 2022 was $1,241,215.
Official website here: www.luminest.org
Who are the executives of Luminest Inc and what are their salaries?
The average compensation at Luminest Inc during 2022 was $17,201. There are 30 employees at Luminest Inc.
Here are 10 key members and their salaries:
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- Compensation: $121,017
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- Other: $17,580
- Compensation: $77,138
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- Other: $14,364
Official website here: www.luminest.org
Where can I find the form 990 for Luminest Inc?
Luminest Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.luminest.org
Learn more at the official website: www.luminest.org
Mission Statement of Luminest Inc
Luminest Inc, as a non-profit organization, is committed to providing affordable housing for individuals with low and moderate incomes. In line with the Pennsylvania not-for-profit law, Luminest Inc expands its mission beyond housing, allowing it to engage in various activities that serve this specific demographic. The corporation serves as the general partner and developer in several affordable housing projects, demonstrating its dedication to this cause. Furthermore, Luminest Inc has also sponsored various affordable housing initiatives, further solidifying its commitment to making decent housing accessible to those who need it most.
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Impact
October, 2024
Luminest Inc significantly contributes to the community by providing decent and affordable housing for low and moderate-income individuals in Chambersburg, PA. As a key player in various affordable housing projects, the organization serves as both a general partner and developer, actively working to create sustainable living environments. By sponsoring initiatives aimed at increasing housing accessibility, Luminest Inc helps to address critical housing needs, ultimately enhancing the quality of life for numerous families and individuals. Their efforts not only improve housing conditions but also foster economic stability and community development in the region.
This information is meant to be a general summary of Luminest 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: $71,723
- Program Service Revenue: $804,021
- Gross Receipts: $1,496,930
Assets and Liabilities:
- Total Assets: $4,607,027
- Total Liabilities: $303,951
- Net Assets: $4,303,076
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER'S FEE
Revenue
$600,000
MANAGEMENT & INCENTIVE FEE
Revenue
$184,070
RENTAL INCOME
Revenue
$14,951
ADMINISTRATION SERVICE FEE
Revenue
$5,000
Organization Details
Founding Year
2002
Phone
(717) 977-3900Principal Officer
Bonnie Zehler
Main Address
82 WEST QUEEN STREET, CHAMBERSBURG, PA, 17201
Website
www.luminest.orgNTEE Category
Code: L20 - Housing
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