Overview
What is Touchette Elderly Apartments Ii Inc?
Touchette Elderly Apartments II is a nonprofit organization situated in Chicago, Illinois, dedicated to catering to the housing needs of senior citizens. By offering senior affordable housing, this organization falls under the categories of senior citizens housing and retirement communities. Their primary mission is to make housing accessible and affordable for elderly individuals, thereby enhancing their quality of life in the community. The apartments provided by Touchette Elderly Apartments II serve as a home for many seniors, offering them a secure and comfortable living space.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, 71%
Touchette Elderly Apartments II Inc received a two-star rating from Charity Navigator, indicating areas that require significant enhancement, particularly in accountability and financial transparency. The organization achieved an overall score of 71%, highlighting a robust program expense ratio of 86.15%, which shows a strong commitment to its programs. However, the organization struggles with board independence, with only 42% of board members being independent, which may impact governance practices.
While Touchette Elderly Apartments II Inc has established solid financial oversight mechanisms, including a fully compliant audit and oversight committee, it falls short in transparency regarding its online presence. Key documents, such as tax forms, are not available on its website, which affects the organization's accountability. Furthermore, the significantly high liabilities to assets ratio of 145.09% raises concerns about financial sustainability and may indicate potential risks for future operations.
Strengths in conflict of interest and whistleblower policies demonstrate the organization's commitment to ethical governance. Overall, while Touchette Elderly Apartments II Inc shows promise in programmatic focus, improved transparency and board independence are essential for enhancing public trust and ensuring long-term success.
This AI summary has been generated from information found on Charity Navigator.
Is Touchette Elderly Apartments Ii Inc legitimate?
Touchette Elderly Apartments Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Touchette Elderly Apartments Ii 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: $158,526
For more financial information, click here
What is the mission statement of Touchette Elderly Apartments Ii Inc?
Touchette Elderly Apartments II Inc is dedicated to providing affordable housing for senior citizens. The organization's mission is to offer senior affordable housing, falling under the categories of senior citizens housing and retirement communities. By doing so, it aims to contribute to making housing accessible for the elderly, thereby improving their living conditions. The apartments are strategically located, in this case, in Chicago, IL, but the mission itself is not confined to a specific location, as it is about providing affordable housing for seniors nationwide.
Who is the CEO of Touchette Elderly Apartments Ii Inc?
Richard Gonzalez is the President of Touchette Elderly Apartments Ii Inc.
What is the revenue of Touchette Elderly Apartments Ii Inc?
Touchette Elderly Apartments Ii Inc's revenue in 2022 was $640,374.
Who are the executives of Touchette Elderly Apartments Ii Inc and what are their salaries?
The average compensation at Touchette Elderly Apartments Ii Inc during 2022 was $15,853. There are 10 employees at Touchette Elderly Apartments Ii Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Touchette Elderly Apartments Ii Inc?
Touchette Elderly Apartments Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Touchette Elderly Apartments Ii Inc
Touchette Elderly Apartments II is a nonprofit organization dedicated to providing senior citizens with affordable housing options. Its mission is to cater to the housing needs of the elderly population, offering programs such as senior affordable housing. This organization falls under the categories of senior citizens housing and retirement communities, ensuring that elderly individuals have access to suitable living spaces. By offering affordable housing, Touchette Elderly Apartments II contributes significantly to the well-being and comfort of seniors, enabling them to maintain an independent and dignified lifestyle.
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Impact
July, 2024
Touchette Elderly Apartments II Inc's impact lies in providing seniors in Chicago, IL with affordable housing. By offering programs dedicated to senior affordable housing, the organization contributes to improving the quality of life for elderly individuals in the community. The apartments serve as a vital resource for seniors in need of a safe and affordable place to live, helping to address housing challenges faced by this demographic. Touchette Elderly Apartments II Inc's commitment to supporting the well-being of seniors aligns with their mission to provide accessible housing options for older adults, ultimately making a positive impact on community improvement.
This information is meant to be a general summary of Touchette Elderly Apartments Ii 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: $517
- Program Service Revenue: $638,251
- Gross Receipts: $640,374
Assets and Liabilities:
- Total Assets: $3,968,469
- Total Liabilities: $5,570,359
- Net Assets: -$1,601,890
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$638,251
Organization Details
Founding Year
2004
Principal Officer
Richard Gonzalez
Main Address
8 SOUTH MICHIGAN AVENUE SUITE 3100, CHICAGO, IL, 60603
NTEE Category
Code: S21Z - Community improvement
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