Overview
What is Chatham Homes For Elderly Inc?
Chatham Homes For Elderly Inc, identified as "The Commons for Seniors" in operation, is a nonprofit organization situated in Morristown, Tennessee. Their primary mission is to provide housing solutions for low-income elderly or handicapped individuals, adhering to the regulations set by the U.S. Department of Housing and Urban Development (HUD) regarding rent charges and operating methods. The organization manages 20 rental units in a designated complex, as part of Section 202 of the National Housing Act. This nonprofit's objective is to contribute positively to the lives of those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 72%)
Chatham Homes For Elderly Inc has received a Two-Star rating from Charity Navigator, indicating the organization needs improvement. It excels in accountability and finance, achieving a perfect score of 100% in this area, which reflects strong governance practices, including a fully independent board and no material diversion of assets.
However, the organization has some notable limitations. It lacks a whistleblower policy, which could raise concerns regarding transparency and employee protection. Additionally, the liabilities to assets ratio is quite high at 135.30%, which may indicate financial instability. While the program expense ratio is impressive at 86.05%, the lack of scoring in impact, measurement, culture, community, and leadership raises questions about the organization's overall effectiveness and adaptability.
This AI summary has been generated from information found on Charity Navigator.
Is Chatham Homes For Elderly Inc legitimate?
Chatham Homes For Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chatham Homes For Elderly 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.
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What is the mission statement of Chatham Homes For Elderly Inc?
Chatham Homes For Elderly Inc, as a non-profit organization, is committed to providing housing for low-income elderly or handicapped individuals. This mission is carried out under Section 202 of the National Housing Act. The organization's primary goal is to offer suitable living spaces for tenants who fall under this income bracket. The housing complex, regulated by the HUD, ensures reasonable rent charges and adheres to specific operating methods. Currently, the complex contains 20 rental units.
Who is the CEO of Chatham Homes For Elderly Inc?
Kay Hale is the President of Chatham Homes For Elderly Inc.
What is the revenue of Chatham Homes For Elderly Inc?
Chatham Homes For Elderly Inc's revenue in 2023 was $115,731.
Who are the executives of Chatham Homes For Elderly Inc and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for Chatham Homes For Elderly Inc?
Chatham Homes For Elderly Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Chatham Homes For Elderly Inc
Chatham Homes For Elderly Inc is committed to providing housing for individuals who fall under the categories of elderly or handicapped, all of whom are in need of low-income housing solutions. This nonprofit organization operates under Section 202 of the National Housing Act, which dictates its regulations in terms of rental charges and operating methods. With a total of 20 rental units in its complex, Chatham Homes For Elderly Inc provides a safe and secure living environment for its tenants, ensuring they have access to necessary housing services despite their financial constraints. The mission of this organization is to enhance the quality of life for its elderly and handicapped tenants, offering them a reliable and supportive housing solution.
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Impact
October, 2024
Chatham Homes For Elderly Inc plays a crucial role in supporting low-income elderly and handicapped individuals by providing affordable housing in Morristown, TN. With 20 rental units, the organization ensures that vulnerable populations have access to safe and secure living environments, helping to alleviate the challenges faced by those who may otherwise struggle to find suitable housing. Operated under the regulations of the National Housing Act's Section 202, Chatham Homes is committed to maintaining affordable rent and adhering to best practices for operating methods, which enhances the quality of life for its tenants. By focusing on this specific demographic, Chatham Homes not only addresses the immediate need for low-income housing but also fosters a sense of community and support for its residents, ultimately contributing to their overall well-being and stability.
This information is meant to be a general summary of Chatham Homes For Elderly 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 2023.
- Investment Income: $165
- Program Service Revenue: $81,401
- Gross Receipts: $115,731
Assets and Liabilities:
- Total Assets: $1,464,349
- Total Liabilities: $1,981,301
- Net Assets: -$516,952
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$81,020
LAUNDRY & VENDING INCO
Revenue
$381
Organization Details
Founding Year
2006
Phone
(423) 586-1494Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 378161218
NTEE Category
Code: L22 - Housing
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