Overview
What is Presbyterian Oaks Iii Inc?
Presbyterian Oaks III Inc, located in Talladega, Alabama, is a dedicated public housing facility. Their primary mission is to cater to individuals with limited financial resources, offering them a place to reside. This nonprofit organization is committed to providing affordable housing solutions, thereby contributing to the community's social fabric.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58% (One-Star out of Four Stars)
Presbyterian Oaks III Inc has received a low rating of 58%, which translates to a One-Star designation. This score reflects significant concerns in the organization’s accountability and finance practices. While the charity excels in certain areas such as having a fully independent board and no material diversion of assets, these strengths are overshadowed by critical shortcomings related to financial management and transparency.
The program expense ratio is commendable at 87.06%, indicating that a substantial portion of funds is directed towards its programs. However, the organization is hindered by an alarming liabilities to assets ratio of 150.43%, suggesting potential financial instability. Additionally, several important governance documents, including a conflict of interest policy and a whistleblower policy, are missing, raising concerns about the organization's operational integrity and risk management practices.
Overall, while Presbyterian Oaks III Inc demonstrates some positive attributes, the lack of essential documentation and financial transparency issues detract from its overall effectiveness. Stakeholders and potential donors may wish to consider these factors carefully before engaging with the charity.
This AI summary has been generated from information found on Charity Navigator.
Is Presbyterian Oaks Iii Inc legitimate?
Presbyterian Oaks Iii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Presbyterian Oaks Iii 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:
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What is the mission statement of Presbyterian Oaks Iii Inc?
Presbyterian Oaks III Inc, as a public housing facility, is committed to fulfilling its mission of providing affordable housing for individuals with limited income. This mission is crucial in ensuring that everyone has access to a secure living space, regardless of their financial situation. By offering low-income housing, Presbyterian Oaks III Inc contributes significantly to the community, providing a much-needed service for many individuals and families. The organization's focus on affordable housing is a testament to its commitment to social equality and fairness. It strives to create a supportive environment where individuals can reside comfortably, enabling them to focus on other aspects of their lives.
Who is the CEO of Presbyterian Oaks Iii Inc?
Dr Jimmy Davis is the President of Presbyterian Oaks Iii Inc.
What is the revenue of Presbyterian Oaks Iii Inc?
Presbyterian Oaks Iii Inc's revenue in 2023 was $153,700.
Who are the executives of Presbyterian Oaks Iii Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Presbyterian Oaks Iii Inc?
Presbyterian Oaks Iii Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Presbyterian Oaks Iii Inc
Presbyterian Oaks III Inc, as a nonprofit organization, is committed to providing low-income housing. This mission is at the heart of its operations, aiming to make housing accessible for individuals who may otherwise struggle to afford it. By offering low-income housing, Presbyterian Oaks III Inc contributes to enhancing the living conditions of its residents, thereby promoting a sense of stability and security. This mission is a testament to the organization's dedication to social justice and its belief in the importance of housing as a fundamental human right.
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Impact
October, 2024
Presbyterian Oaks III Inc plays a crucial role in addressing the housing needs of low-income individuals and families in Talladega, AL. By providing affordable housing options, it helps improve the living conditions of residents who might otherwise struggle to find safe and stable homes. This initiative contributes to community stability, supports individual and family well-being, and promotes social equity. Additionally, access to affordable housing can lead to better educational outcomes for children and improved health for all residents, ultimately fostering a stronger and more resilient community.
This information is meant to be a general summary of Presbyterian Oaks Iii 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: $171
- Program Service Revenue: $153,529
- Gross Receipts: $153,700
Assets and Liabilities:
- Total Assets: $1,362,280
- Total Liabilities: $1,989,028
- Net Assets: -$626,748
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APARTMENT RENTS
Revenue
$47,197
TENANT CHARGES
Revenue
$498
LAUNDRY & VENDING
Revenue
$184
Organization Details
Founding Year
2006
Phone
(205) 933-1020Principal Officer
Dr Jimmy Davis
Main Address
23 IRONATON ROAD, TALLADEGA, AL, 35160
NTEE Category
Code: L22 - Housing
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