Overview
What is Mace Apartments?
Mace Apartments is a 10-unit housing complex situated at 1104 England Drive, Cookeville, Tennessee (TN 38501). This nonprofit organization primarily serves the elderly community by providing affordable housing. The property is dedicated to enhancing the well-being of its residents, striving to create an environment that suits their needs. Rental assistance for eligible residents is facilitated by the HUD, based on their income level.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star Rating)
Mace Apartments has received a commendable Four-Star rating from Charity Navigator, reflecting a strong performance in accountability and finance. A high score of 94% indicates effective management of funds and resources, showing that the organization is committed to transparency and responsible governance. The organization has a fully independent board, and it has implemented essential policies for conflict of interest, whistleblowing, and document retention, all of which contribute to its credibility.
Strengths of Mace Apartments include a robust program expense ratio of 90.90%, which signifies that a significant portion of its spending directly benefits its mission. The organization has also demonstrated excellent management of its liabilities, with a ratio of only 3.22%, highlighting its financial stability. These factors portray Mace Apartments as a reliable and impactful nonprofit dedicated to serving its community effectively.
While the overall ratings are impressive, the summary does not indicate specific areas for improvement. However, ongoing monitoring and evaluation are always essential for nonprofits to maintain their standards and continue to meet the needs of their community effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Mace Apartments legitimate?
Mace Apartments is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mace Apartments 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
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What is the mission statement of Mace Apartments?
Mace Apartments is dedicated to serving the elderly population by providing affordable housing. The organization goes above and beyond to create an environment that fosters the well-being of its residents. They operate a 10-unit apartment complex, and rental assistance is provided to eligible tenants based on their income level, as overseen by the HUD. The primary focus of Mace Apartments is to ensure that the elderly population has access to comfortable and affordable living spaces, thereby enhancing their quality of life.
Who is the CEO of Mace Apartments?
Myra Walker is the Secretary/Treasurer of Mace Apartments.
What is the revenue of Mace Apartments?
Mace Apartments's revenue in 2023 was $58,512.
Who are the executives of Mace Apartments and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Mace Apartments?
Mace Apartments's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Mace Apartments
Mace Apartments is dedicated to serving the elderly population by providing affordable housing and creating an environment conducive to their well-being. The organization's mission is to ensure that elderly residents feel comfortable and supported. To accomplish this, Mace Apartments operates a 10-unit apartment complex, where rental assistance is provided based on income levels. This housing solution enables elderly individuals to maintain their independence while benefiting from a living arrangement that prioritizes their wellness.
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Impact
October, 2024
Mace Apartments significantly enhances the quality of life for the elderly community in Cookeville, TN, by providing affordable housing solutions tailored to their specific needs. The 10-unit apartment complex is designed to foster a welcoming and supportive environment, ensuring that residents feel safe and comfortable in their homes. By offering rental assistance through HUD based on income levels, Mace Apartments removes financial barriers, enabling seniors to secure stable housing without the overwhelming burden of high costs.
This commitment to affordable housing not only addresses the immediate needs of elderly residents but also promotes their overall well-being, encouraging a sense of independence and dignity. By creating a conducive living environment, Mace Apartments plays a vital role in helping seniors live healthier, happier lives while also building a sense of community among residents. The impact of such initiatives extends beyond just housing; it enhances social connections, reduces isolation, and provides a foundation for senior citizens to thrive in their golden years.
This information is meant to be a general summary of Mace Apartments. 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: $2
- Program Service Revenue: $28,784
- Gross Receipts: $58,512
Assets and Liabilities:
- Total Assets: $861,778
- Total Liabilities: $27,781
- Net Assets: $833,997
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROUP HOME OPERATIONS
Revenue
$28,784
Organization Details
Founding Year
2008
Phone
(931) 432-4111Principal Officer
Myra Walker
Main Address
1104 ENGLAND DRIVE, COOKEVILLE, TN, 38501
NTEE Category
Code: L20 - Housing
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