Overview
What is Royal Oak Non-Profit Housing Corporation?
Royal Oak Non-Profit Housing Corporation, established in October 1971, is a Michigan-based nonprofit housing organization. It was formed by Cooperative Services, Inc., another Michigan nonprofit, with a mission to offer housing facilities for low-income senior citizens. The corporation initially acquired property in Royal Oak, Michigan, and constructed an apartment project with 240 units to cater to this demographic in cooperation with the U.S. Department of Housing and Urban Development. The organization continues to provide essential housing services to this community.
What are the reviews and ratings of this charity?
Charity Navigator rates the Royal Oak Non-Profit Housing Corporation at 79%, which corresponds to a Three-Star out of Four Star rating. This score is derived exclusively from its Accountability & Finance metrics, indicating a solid performance in financial management and transparency. The assessment reflects a commitment to maintaining a high level of accountability, which is crucial for donor confidence and organizational integrity.
The organization has demonstrated significant strengths, including a fully independent board, which consists of 10 members. It has also excelled in crucial areas such as financial oversight and governance policies, scoring full points on various accountability measures. The program expense ratio is commendable at 80.44%, suggesting that a substantial majority of funds are directed toward mission-driven activities, which is a positive sign for stakeholders.
However, while the overall score is solid, a single beacon score can limit the overall assessment of the organization, as it doesn't account for other potential performance indicators. Nonetheless, the absence of any material diversion of assets and the presence of key governance policies indicate a well-managed nonprofit with a focus on ethical practices.
This AI summary has been generated from information found on Charity Navigator.
Is Royal Oak Non-Profit Housing Corporation legitimate?
Royal Oak Non-Profit Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Royal Oak Non-Profit Housing Corporation 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 Royal Oak Non-Profit Housing Corporation?
The Royal Oak Non-Profit Housing Corporation is dedicated to providing housing facilities for low-income senior citizens. Established as a non-profit organization, its primary mission is to provide a suitable living environment for this demographic in cooperation with the U.S. Department of Housing and Urban Development. The corporation was formed in October 1971 with the intention of acquiring property, constructing an apartment project, and operating it to cater to the housing needs of these senior citizens.
Who is the CEO of Royal Oak Non-Profit Housing Corporation?
Cindy Lamb is the President of Royal Oak Non-Profit Housing Corporation.
What is the revenue of Royal Oak Non-Profit Housing Corporation?
Royal Oak Non-Profit Housing Corporation's revenue in 2022 was $1,805,764.
Who are the executives of Royal Oak Non-Profit Housing Corporation and what are their salaries?
There 29 volunteers at Royal Oak Non-Profit Housing Corporation.
Here are 17 key members and their salaries:
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- Related: $191,147
- Other: $34,117
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- Other: $51,455
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- Related: $158,517
- Other: $44,849
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- Related: $174,841
- Other: $58,635
Where can I find the form 990 for Royal Oak Non-Profit Housing Corporation?
Royal Oak Non-Profit Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Royal Oak Non-Profit Housing Corporation
The Royal Oak Non-Profit Housing Corporation, established in 1971, is dedicated to providing housing facilities for low-income senior citizens. This Michigan-based non-profit organization, founded by Cooperative Services, Inc., a fellow Michigan non-profit cooperative, aims to serve this specific demographic by acquiring property, constructing apartment projects, and operating them to cater to the needs of this population. The corporation's mission aligns with the United States Department of Housing and Urban Development, working together to ensure that low-income senior citizens have access to suitable housing. The Royal Oak Non-Profit Housing Corporation's primary goal is to enhance the living conditions of its target demographic, offering them a secure and affordable place to call home.
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Impact
October, 2024
Royal Oak Non-Profit Housing Corporation significantly enhances the quality of life for low-income senior citizens in Warren, Michigan. By providing affordable housing, it addresses a critical need for stable and secure living environments for the elderly, who often face financial challenges in their pursuit of safe and comfortable homes.
Since its establishment in 1971, the organization has developed a 240-unit apartment complex that serves as a vital resource for seniors in the community. This initiative not only alleviates housing insecurity but also fosters a sense of community among residents. With access to affordable housing, seniors can dedicate their limited resources to other essential needs, such as healthcare and daily living expenses, ultimately improving their overall well-being.
In collaboration with the U.S. Department of Housing and Urban Development, the Corporation ensures that its housing projects meet the necessary standards and guidelines for accessibility and safety. This partnership enhances the sustainability of the housing provided and affirms its commitment to serving one of the most vulnerable populations.
The impact of Royal Oak Non-Profit Housing Corporation extends beyond mere accommodation; it cultivates a supportive environment that empowers seniors to lead fulfilling lives, promoting dignity, independence, and social engagement within the community.
This information is meant to be a general summary of Royal Oak Non-Profit Housing Corporation. 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: $44,674
- Program Service Revenue: $1,267,096
- Gross Receipts: $1,805,764
Assets and Liabilities:
- Total Assets: $15,360,797
- Total Liabilities: $15,811,602
- Net Assets: -$450,805
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,267,096
Organization Details
Founding Year
1971
Phone
(586) 753-9002Principal Officer
Cindy Lamb
Main Address
8425 E TWELVE MILE ROAD, WARREN, MI, 48093
NTEE Category
Code: L20 - Housing
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