Overview
What is Tcoa Elderly Housing Inc?
Tcoa Elderly Housing Inc is a nonprofit organization situated in Houma, Louisiana. Their primary mission is to provide specialized housing facilities and services tailored to meet the physical, mental, social, and psychological needs of elderly and elderly handicapped individuals. This organization, with a focus on promoting their health, security, happiness, and usefulness, aims to own, manage, and operate qualified supportive housing for very low-income households with at least one elderly resident (62 years or older). Their activities extend to Terrebonne Parish, where they design, develop, construct, own, and manage housing and related facilities to serve the elderly community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Star rating)
Tcoa Elderly Housing Inc has received a Two-Star rating from Charity Navigator, indicating some concerns regarding its financial handling. The overall score is based solely on its Accountability & Finance, where it scored 67%. While this score reflects a lack of balance in other assessed areas, it does highlight specific strengths in governance, such as having a fully independent board and a well-audited financial statement.
The organization boasts a commendable program expense ratio of 97.30%, demonstrating that a significant majority of its funds are directed towards its programs rather than administrative costs. Additionally, it maintains transparency by documenting board meeting minutes and has shown no material diversion of assets, which are positive indicators of responsible management.
However, the low score in the liabilities to assets ratio, at 78.16%, suggests potential financial risk that could affect its long-term sustainability. This high ratio indicates that the organization's liabilities are quite significant compared to its assets, which may pose challenges in fulfilling its mission effectively over time.
This AI summary has been generated from information found on Charity Navigator.
Is Tcoa Elderly Housing Inc legitimate?
Tcoa Elderly Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tcoa Elderly Housing 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: $58,279
For more financial information, click here
What is the mission statement of Tcoa Elderly Housing Inc?
Tcoa Elderly Housing Inc's mission is centered around providing housing for low-income elderly households, with at least one individual aged 62 or above. Their goal is to design, develop, construct, own, and manage housing and related facilities, specifically tailored to cater to the elderly and elderly-disabled population. The organization aims to offer housing facilities and services that address the physical, mental, social, and psychological needs of these individuals, promoting their health, security, happiness, and overall usefulness.
Who is the CEO of Tcoa Elderly Housing Inc?
Michel Claudet is the Board Member of Tcoa Elderly Housing Inc.
What is the revenue of Tcoa Elderly Housing Inc?
Tcoa Elderly Housing Inc's revenue in 2022 was $1,019,146.
Who are the executives of Tcoa Elderly Housing Inc and what are their salaries?
Here are 7 key members and their salaries:
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- Related: $82,719
- Other: $0
- Compensation: $0
- Related: $311,142
- Other: $3,534
Where can I find the form 990 for Tcoa Elderly Housing Inc?
Tcoa Elderly Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tcoa Elderly Housing Inc
Tcoa Elderly Housing Inc is committed to providing suitable housing for low-income households with at least one elderly person aged 62 or older. Their mission extends beyond just offering accommodation, as they aim to manage and operate housing facilities that cater specifically to the physical, mental, social, and psychological needs of the elderly and elderly-handicapped residents. The organization's objective is to design, develop, construct, own, and manage housing and related facilities that serve the elderly community in Terrebonne Parish, with a focus on promoting their health, security, happiness, and overall well-being.
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Impact
October, 2024
Tcoa Elderly Housing Inc significantly enhances the quality of life for very low-income households with elderly individuals, particularly those aged 62 and older. By providing supportive housing tailored to meet the unique physical, mental, social, and psychological needs of elderly and elderly handicapped residents, Tcoa fosters a safe and nurturing environment.
The organization focuses on the design, development, and management of housing facilities that promote health, security, and happiness among its residents. This commitment not only improves living conditions but also encourages social interaction and community involvement, helping to reduce feelings of isolation that can often accompany aging. By ensuring that these vulnerable populations have access to qualified supportive housing, Tcoa plays a crucial role in enhancing their overall well-being and usefulness in society, ultimately contributing to the health of the community in Terrebonne Parish, Louisiana.
This information is meant to be a general summary of Tcoa Elderly Housing 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: $138
- Program Service Revenue: $112,321
- Gross Receipts: $1,019,146
Assets and Liabilities:
- Total Assets: $5,377,157
- Total Liabilities: $4,202,929
- Net Assets: $1,174,228
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL
Revenue
$112,321
Organization Details
Founding Year
2007
Phone
(985) 868-2221Principal Officer
Michel Claudet
Main Address
6516 WEST MAIN ST, HOUMA, LA, 70360
NTEE Category
Code: L22 - Housing
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