Overview
What is Hope For Seniors Foundation?
Hope For Seniors Foundation is a nonprofit organization based in Chicago, Illinois, specifically at 2704 W Peterson. Their primary mission is to contribute to the development and provision of affordable senior housing, focusing on a 56-unit complex situated near Lawrence and Kedzie Aves. The organization played a significant role in this project by contributing land and funds worth over $1.6 million to a partnership, which in turn constructed the senior low-income housing facility. The foundation continues to serve as a co-general partner in managing this project, incurring minimal annual costs to accomplish this mission.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 30%, Zero-Star out of Four Star rating.
The Hope For Seniors Foundation has received a low rating of 30%, primarily due to concerns surrounding its accountability and financial management practices. While the organization does maintain a fully independent board and has shown no material diversion of assets, it falls short in several critical governance areas, such as missing policies for conflict of interest, whistleblowing, and document retention.
Additionally, the foundation fails to provide necessary documentation on its website, including tax forms and board meeting minutes, which significantly impacts its transparency. Only 27.14% of its expenses are devoted to programs, indicating a potential inefficiency in how funds are allocated towards its mission. Overall, while the organization has some strengths in governance, significant areas for improvement remain to enhance its accountability and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Hope For Seniors Foundation legitimate?
Hope For Seniors Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hope For Seniors Foundation 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 Hope For Seniors Foundation?
The Hope For Seniors Foundation was established with the mission to develop and offer affordable housing for senior citizens and related services in its community. The organization serves as a co-general partner in a partnership that operates a 56-unit senior low-income housing complex. The foundation contributes significantly to this initiative by providing land and cash, amounting to over $1.6 million, which the partnership uses to construct the housing facility. The foundation's annual costs related to this mission are minimal to none. The primary goal of Hope For Seniors Foundation is to provide a living space and related services for elderly individuals, ensuring their housing needs are met.
Who is the CEO of Hope For Seniors Foundation?
Rizwan Hussain is the Director of Hope For Seniors Foundation.
What is the revenue of Hope For Seniors Foundation?
Hope For Seniors Foundation's revenue in 2022 was $8,397.
Who are the executives of Hope For Seniors Foundation and what are their salaries?
There 5 volunteers at Hope For Seniors Foundation.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Hope For Seniors Foundation?
Hope For Seniors Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hope For Seniors Foundation
Hope For Seniors Foundation was established with a mission to develop and provide affordable housing for senior citizens and related services in its community. This nonprofit organization has made significant contributions, including contributing land and cash valued over $1.6 million, towards a partnership that aims to address the housing needs of senior citizens. The partnership then utilized these resources to construct a 56-unit senior low-income housing facility. Since its completion in 2014, the facility has been fully occupied, providing a shelter and essential amenities for elderly residents in need. The organization continues to incur minimal costs annually to maintain its commitment to this mission, demonstrating its dedication to enhancing the living conditions and quality of life for senior citizens in its community.
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Impact
August, 2024
Hope For Seniors Foundation serves as a co-general partner in a partnership operating a 56-unit senior low-income housing complex near Lawrence and Kedzie in Chicago. The organization's mission is to develop and provide affordable housing for senior citizens in its neighborhood. By contributing land and cash valued at over $1.6 million to the partnership, the foundation has enabled the construction of this vital housing facility. The organization's impact is evident in the provision of 56 units of 100% low-income senior housing, which has been fully occupied since its completion in 2014, ensuring that seniors in the community have access to safe and affordable housing options.
This information is meant to be a general summary of Hope For Seniors Foundation. 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.
- Program Service Revenue: -$12
- Gross Receipts: $8,397
Assets and Liabilities:
- Total Assets: $1,646,479
- Total Liabilities: $0
- Net Assets: $1,646,479
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INC HSNG PTNR RE RENT
Revenue
-$12
Organization Details
Founding Year
2004
Phone
(773) 218-5200Principal Officer
Rizwan Hussain
Main Address
2704 W PETERSON, CHICAGO, IL, 60659
NTEE Category
Code: L20 - Housing
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