Overview
What is Aztex Homes For Elderly Inc?
Aztex Homes For Elderly Inc, operating under the name Pleasant Hill Apartments, is a nonprofit organization situated in Morristown, Tennessee. Their primary mission is to provide affordable housing for low-income elderly and handicapped individuals, adhering to Section 202 of the National Housing Act. They manage a complex containing 14 rental units, offering a secure living environment for eligible tenants. Their purpose is to promote independence and enhance the quality of life for their residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 72%, Two-Star out of Four Star rating.
Aztex Homes For Elderly Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial management. The overall score reflects a strong commitment to governance practices, with a perfect score in aspects such as having an independent board and no material diversion of assets. The organization also successfully maintains a conflict of interest policy and documents board meeting minutes thoroughly.
Despite these strengths, there are notable concerns regarding the organization’s financial health, specifically highlighted by a liabilities to assets ratio of 141.13%, which indicates a potential risk in managing its financial obligations. While the program expense ratio is commendable at 85.10%, the high liabilities suggest that the organization may face challenges in its long-term sustainability. This could be an area for improvement as they seek to bolster their financial stability and enhance overall operations.
The rating signifies that while Aztex Homes For Elderly Inc demonstrates responsible governance and effective program spending, it is essential for stakeholders and potential donors to consider the financial risks associated with its current liabilities before making contributions or decisions regarding support.
This AI summary has been generated from information found on Charity Navigator.
Is Aztex Homes For Elderly Inc legitimate?
Aztex Homes For Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Aztex 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 Aztex Homes For Elderly Inc?
Aztex Homes For Elderly Inc is dedicated to providing housing for individuals who are elderly or have disabilities, falling under Section 202 of the National Housing Act. Their mission is to ensure that these vulnerable groups have access to suitable living accommodations. The organization operates by providing 14 rental units in a complex, offering a secure and comfortable environment for its tenants. This housing solution is essential in providing these individuals with a sense of independence and dignity, allowing them to live with dignity and security in their later years.
Who is the CEO of Aztex Homes For Elderly Inc?
Kay Hale is the President of Aztex Homes For Elderly Inc.
What is the revenue of Aztex Homes For Elderly Inc?
Aztex Homes For Elderly Inc's revenue in 2022 was $72,281.
Who are the executives of Aztex 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 Aztex Homes For Elderly Inc?
Aztex Homes For Elderly Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Aztex Homes For Elderly Inc
Aztex Homes for Elderly Inc, a nonprofit organization, is dedicated to providing housing for individuals who are elderly or handicapped and fall under a low-income bracket. This mission is in alignment with Section 202 of the National Housing Act, a legislative framework that supports such initiatives. The organization's primary objective is to offer suitable housing options for this specific demographic, aiming to enhance their quality of life and promote their independence. The complex managed by Aztex Homes for Elderly Inc currently houses 14 rental units, providing a safe and supportive living environment for its tenants.
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Impact
August, 2024
Aztex Homes For Elderly Inc has a significant impact on the community by providing housing for low-income elderly and handicapped tenants in Morristown, TN. Through their mission to offer affordable housing under Section 202 of the National Housing Act, they support those in need and ensure that vulnerable populations have a safe and secure place to live. With 14 rental units in their complex, Aztex Homes For Elderly Inc plays a crucial role in addressing housing insecurity among elderly and handicapped individuals in the area, ultimately enhancing their quality of life and well-being.
This information is meant to be a general summary of Aztex 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 2022.
- Investment Income: $28
- Program Service Revenue: $48,949
- Gross Receipts: $72,281
Assets and Liabilities:
- Total Assets: $851,295
- Total Liabilities: $1,148,078
- Net Assets: -$296,783
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME - APARTM
Revenue
$48,949
Organization Details
Founding Year
2007
Phone
(423) 587-4500Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 378161218
NTEE Category
Code: L21 - Housing
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