Overview
What is Lakeview Apartments Inc?
Lakeview Apartments Inc, located at 612 E Canal Street, Paragould, AR 72450, is a nonprofit organization primarily focused on providing affordable housing. Their sole mission and activity revolve around the operation of a federally subsidized apartment complex, catering to tenants with low incomes. This initiative aims to provide suitable living spaces for individuals and families who might otherwise struggle to secure housing. The organization, with a modest workforce of two employees, plays a crucial role in fostering a sense of community and stability within its resident population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating.
Lakeview Apartments Inc has received a 73% rating from Charity Navigator, indicating a need for improvement in certain areas of accountability and transparency. The organization has demonstrated strengths in its governance, including a fully independent board and a strong liability to assets ratio, which suggests a stable financial position.
However, the nonprofit has several limitations that affect its overall score. Notably, it received low scores in key governance policies, including conflict of interest and whistleblower policies, as well as a lack of transparency regarding its tax documents on its website. These aspects may raise concerns about the organization’s commitment to best practices in nonprofit management.
Overall, while Lakeview Apartments Inc shows promise with its financial management and independent governance, there are significant areas that require attention to enhance its accountability and transparency to stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Lakeview Apartments Inc legitimate?
Lakeview Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lakeview Apartments 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: $14,828
For more financial information, click here
What is the mission statement of Lakeview Apartments Inc?
Lakeview Apartments Inc's primary role is centered around the operation of a federally subsidized apartment complex, providing housing for individuals with low income. The organization's mission is essentially devoted to this single activity, ensuring the smooth running of this residential complex. This commitment to affordable housing for those in need is a significant contribution to the community, promoting a sense of stability and support for its residents. While Lakeview Apartments Inc does not engage in advocacy or research, its operation serves as a vital resource for individuals who might otherwise struggle to secure suitable housing.
What is the revenue of Lakeview Apartments Inc?
Lakeview Apartments Inc's revenue in 2024 was $85,884.
Who are the executives of Lakeview Apartments Inc and what are their salaries?
The average compensation at Lakeview Apartments Inc during 2024 was $7,414. There are 2 employees at Lakeview Apartments Inc.
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Where can I find the form 990 for Lakeview Apartments Inc?
Lakeview Apartments Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Lakeview Apartments Inc
Lakeview Apartments Inc is dedicated to serving low-income individuals by operating a federally subsidized apartment complex. This organization's sole mission is to provide affordable housing, ensuring that those in need have a place to call home. Through the operation of Lakeview Apartments, the nonprofit aims to contribute positively to the community by offering housing solutions for individuals who may otherwise struggle to secure suitable living arrangements.
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Impact
August, 2024
Lakeview Apartments Inc provides a crucial service by operating a federally subsidized apartment complex for low-income tenants. By offering affordable housing options, Lakeview Apartments Inc helps address the housing needs of individuals and families who may otherwise struggle to find suitable accommodation. This enables low-income residents to live in a safe and stable environment, contributing to their overall well-being and quality of life. Through its dedicated efforts, Lakeview Apartments Inc plays a significant role in supporting the community and improving the lives of individuals in need of affordable housing options.
This information is meant to be a general summary of Lakeview Apartments 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 2024.
- Investment Income: $170
- Program Service Revenue: $65,352
- Gross Receipts: $85,884
Assets and Liabilities:
- Total Assets: $833,139
- Total Liabilities: $15,051
- Net Assets: $818,088
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$63,597
OTHER TENANT CHARGES
Revenue
$1,755
Organization Details
Founding Year
2007
Principal Officer
David Lange
NTEE Category
Code: L22 - Housing
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