Overview
What is Elmdale Apartments Nonprofit Housing Corporation?
Elmdale Apartments Nonprofit Housing Corporation is a charitable organization situated in Grand Rapids, Michigan. Their primary mission is to offer affordable housing solutions for low to middle-income individuals and families, specifically those with chronic mental disabilities. Established at 101 Sheldon Blvd SE STE 2, this nonprofit organization strives to accommodate the housing needs of this specific demographic. By providing affordable residential spaces, Elmdale Apartments Nonprofit Housing Corporation aims to contribute positively to the community and support those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Stars
Elmdale Apartments Nonprofit Housing Corporation has received a Three-Star rating from Charity Navigator, reflecting its strong performance in the area of accountability and finance. The organization scored 79% overall, with its score derived entirely from its accountability and finance metrics for the most recent fiscal year, FY2022. This rating indicates a solid level of transparency and responsible financial management.
The nonprofit demonstrates commendable governance practices, as evidenced by its 80% independent board member composition, and it has a total of four independent board members. Additionally, the organization has established important policies such as conflict of interest, whistleblower protections, and document retention, all of which contribute to its strong accountability framework. Furthermore, Elmdale boasts an impressive program expense ratio of 86.08%, suggesting that a significant portion of its funds is directed toward its charitable programs.
While the overall score is favorable, potential donors and stakeholders should be aware that this rating is primarily based on financial metrics. There are no additional scores or ratings reflecting program impact or effectiveness, which may limit a comprehensive understanding of the organization's overall performance. Nonetheless, Elmdale Apartments Nonprofit Housing Corporation appears to be a responsible steward of its resources according to the available data.
This AI summary has been generated from information found on Charity Navigator.
Is Elmdale Apartments Nonprofit Housing Corporation legitimate?
Elmdale Apartments Nonprofit Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elmdale Apartments Nonprofit Housing Corporation 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
For more financial information, click here
What is the mission statement of Elmdale Apartments Nonprofit Housing Corporation?
Elmdale Apartments Nonprofit Housing Corporation is committed to providing affordable housing for individuals and families who fall under the low to middle-income bracket. This mission is particularly significant for individuals and families dealing with chronic mental disabilities. The corporation offers residential housing as a means to support these individuals and families, aiming to make housing an accessible and affordable option for them. By doing so, Elmdale Apartments Nonprofit Housing Corporation contributes to the well-being of its residents, offering them a place to call home.
What is the revenue of Elmdale Apartments Nonprofit Housing Corporation?
Elmdale Apartments Nonprofit Housing Corporation's revenue in 2023 was $182,657.
Who are the executives of Elmdale Apartments Nonprofit Housing Corporation and what are their salaries?
There 4 volunteers at Elmdale Apartments Nonprofit Housing Corporation.
Here are 14 key members and their salaries:
- Compensation: $0
- Related: $210,352
- Other: $32,206
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $148,927
- Other: $4,487
- Compensation: $0
- Related: $81,918
- Other: $5,335
- Compensation: $0
- Related: $143,336
- Other: $19,933
- Compensation: $0
- Related: $68,308
- Other: $6,181
- Compensation: $0
- Related: $139,961
- Other: $16,251
- Compensation: $0
- Related: $26,747
- Other: $4,376
Where can I find the form 990 for Elmdale Apartments Nonprofit Housing Corporation?
Elmdale Apartments Nonprofit Housing Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Elmdale Apartments Nonprofit Housing Corporation
Elmdale Apartments Nonprofit Housing Corporation is dedicated to providing affordable housing options for individuals and families who fall under the low to middle-income bracket. However, what sets this organization apart is its specific focus on catering to individuals and families dealing with chronic mental disabilities. By offering residential housing, Elmdale Apartments Nonprofit Housing Corporation aims to provide a safe and supportive environment for these individuals, enabling them to live independently and with dignity. The organization's mission is driven by the belief that everyone deserves a place to call home, regardless of their financial situation or health challenges.
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Impact
October, 2024
Elmdale Apartments Nonprofit Housing Corporation significantly impacts the community by providing affordable housing for low to middle-income individuals and families, particularly those with chronic mental disabilities. By ensuring access to safe and stable living conditions, it helps to enhance the quality of life for residents, promoting mental health stability and overall well-being. The organization addresses a critical need in Grand Rapids, MI, where affordable housing options are often limited. Through its dedicated efforts, Elmdale Apartments fosters a sense of community and belonging, empowering residents to thrive in a supportive environment that encourages independence and personal growth.
This information is meant to be a general summary of Elmdale Apartments Nonprofit Housing Corporation. 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: $132
- Program Service Revenue: $168,557
- Gross Receipts: $182,657
Assets and Liabilities:
- Total Assets: $352,768
- Total Liabilities: $578,002
- Net Assets: -$225,234
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$168,557
Organization Details
Founding Year
2003
Principal Officer
Vince Lambert
NTEE Category
Code: L02 - Housing
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