Overview
What is Holy Trinity Apartments Inc?
Holy Trinity Apartments Inc is a nonprofit organization situated in Louisville, Kentucky, with a specific focus on providing low-income housing for disabled individuals. The organization is funded by a contract with the U.S. Department of Housing and Urban Development. Its mission is to offer housing facilities and services tailored to meet the unique needs of elderly and handicapped individuals, promoting their health, security, happiness, and usefulness in prolonged living. The organization's activities align with the concept of affordable housing, as mentioned in the information array.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58% (One-Star out of Four Stars)
Holy Trinity Apartments Inc has received a low rating of 58%, indicating significant concerns regarding its accountability and financial practices. While the organization performs well in areas such as having a fully independent board and a high program expense ratio, it struggles with several critical policies and transparency measures, resulting in a lack of essential governance frameworks.
The organization excels in ensuring that the majority of its board members are independent, which can enhance its decision-making and oversight. Additionally, a strong program expense ratio of 94.37% suggests that a substantial portion of its funds is directed towards its mission-driven programs, a positive indicator of effective resource allocation.
However, the nonprofit faces notable weaknesses, including a high liabilities to assets ratio of 164.02%, which raises concerns about financial sustainability. Furthermore, the absence of a conflict of interest policy, whistleblower policy, and documentation practices reflects a lack of necessary governance structures, which could jeopardize its operational integrity. Overall, while there are strengths to acknowledge, substantial improvements are needed in governance and financial management practices.
This AI summary has been generated from information found on Charity Navigator.
Is Holy Trinity Apartments Inc legitimate?
Holy Trinity Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Holy Trinity 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: $33,747
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What is the mission statement of Holy Trinity Apartments Inc?
Holy Trinity Apartments Inc's mission is centered around providing housing facilities and services for elderly persons and individuals with disabilities. The primary objective is to cater to their specific physical, social, and psychological needs, aiming to enhance their health, security, happiness, and overall usefulness in their later years. The organization strives to promote a better quality of life for these individuals, ensuring their well-being and contentment in their extended living. Additionally, Holy Trinity Apartments Inc offers low-income housing for disabled individuals, with financial support from the U.S. Department of Housing and Urban Development.
Who is the CEO of Holy Trinity Apartments Inc?
Rev Fr Lucas Rice is the President of Holy Trinity Apartments Inc.
What is the revenue of Holy Trinity Apartments Inc?
Holy Trinity Apartments Inc's revenue in 2022 was $85,580.
Who are the executives of Holy Trinity Apartments Inc and what are their salaries?
There 7 volunteers at Holy Trinity Apartments Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Holy Trinity Apartments Inc?
Holy Trinity Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Holy Trinity Apartments Inc
Holy Trinity Apartments Inc is dedicated to serving the unique needs of elderly individuals and individuals with disabilities. Their mission is to provide specialized housing facilities and services that cater to the physical, social, and psychological requirements of these individuals. The goal is to promote their health, security, happiness, and overall usefulness in longer living. This nonprofit organization achieves this by offering low-income housing, subsidized by a contract with the U.S. Department of Housing and Urban Development. By providing such accommodations, Holy Trinity Apartments Inc aims to enhance the quality of life for these vulnerable groups, ensuring they can live with dignity and independence.
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Impact
October, 2024
Holy Trinity Apartments Inc plays a vital role in the community by addressing the critical need for affordable housing tailored specifically for low-income disabled individuals. Its commitment to providing housing facilities and services is designed to meet the unique physical, social, and psychological needs of elderly and handicapped persons. By securing subsidies through a contract with the U.S. Department of Housing and Urban Development, Holy Trinity Apartments Inc ensures that residents have access to safe and supportive living environments that enhance their health, security, and overall well-being.
This impact extends beyond mere housing; it fosters a sense of community and belonging, promoting not just longer living but a higher quality of life. The organization’s focus on creating environments that cater to the specific requirements of its residents helps alleviate the challenges faced by vulnerable populations, allowing them to thrive and maintain their independence. In Louisville, KY, Holy Trinity Apartments Inc stands as a critical resource, contributing significantly to the welfare and dignity of those it serves.
This information is meant to be a general summary of Holy Trinity 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 2022.
- Investment Income: $34
- Program Service Revenue: $56,833
- Gross Receipts: $85,580
Assets and Liabilities:
- Total Assets: $1,100,575
- Total Liabilities: $1,805,223
- Net Assets: -$704,648
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT REVENUE
Revenue
$56,833
Organization Details
Founding Year
2006
Phone
(812) 876-5478Principal Officer
Rev Fr Lucas Rice
Main Address
3701 ST MICHAELS CHURCH DRIVE, LOUISVILLE, KY, 402202081
NTEE Category
Code: L21 - Housing
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