Overview
What is Woodridge Nonprofit Corporation C/O Frederick Zorn?
Woodridge Nonprofit Corporation C/O Frederick Zorn is a nonprofit organization situated in Southfield, Michigan. Their primary mission is to provide housing for individuals of low and moderate income as well as the elderly. They accomplish this by owning and operating a 100-unit apartment project under the provisions of Section 207 and Section 223(F) of the National Housing Act. This initiative aims to improve housing options for these specific demographics, contributing positively to their living circumstances.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning it a Two-Star out of Four Star rating.
The Woodridge Nonprofit Corporation has received a moderate rating from Charity Navigator, reflecting a solid commitment to governance and financial transparency. The organization boasts a fully independent board, scoring 8 out of 8 for majority independent board members, alongside a high program expense ratio of over 93%, indicating a strong focus on programmatic spending.
However, the nonprofit's liabilities to assets ratio is concerning, scoring 0 out of 15, suggesting potential financial vulnerability. While the organization has strong policies in place, such as a conflict of interest policy and regular documentation of board meeting minutes, the financial health indicated by the liabilities presents a limitation that could affect its long-term sustainability. Overall, while Woodridge Nonprofit Corporation demonstrates strengths in governance and program efficiency, attention to its financial structure is warranted.
This AI summary has been generated from information found on Charity Navigator.
Is Woodridge Nonprofit Corporation C/O Frederick Zorn legitimate?
Woodridge Nonprofit Corporation C/O Frederick Zorn is a legitimate nonprofit organization registered as a 501(c)(3) entity. Woodridge Nonprofit Corporation C/O Frederick Zorn 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: $148,733
For more financial information, click here
What is the mission statement of Woodridge Nonprofit Corporation C/O Frederick Zorn?
The Woodridge Nonprofit Corporation, through its mission, focuses on providing housing solutions for individuals who fall under the categories of low and moderate income and the elderly. This organization operates with the aim of ensuring that these groups have access to suitable living arrangements. To accomplish this, they own and manage a 100-unit housing project, adhering to the regulations set by Section 207 and Section 223(F) of the National Housing Act. The corporation's objective is to contribute to the well-being of these communities by offering them a stable and comfortable living environment.
Who is the CEO of Woodridge Nonprofit Corporation C/O Frederick Zorn?
Ken Siver is the President of Woodridge Nonprofit Corporation C/O Frederick Zorn.
What is the revenue of Woodridge Nonprofit Corporation C/O Frederick Zorn?
Woodridge Nonprofit Corporation C/O Frederick Zorn's revenue in 2022 was $1,072,530.
Who are the executives of Woodridge Nonprofit Corporation C/O Frederick Zorn and what are their salaries?
There 10 volunteers at Woodridge Nonprofit Corporation C/O Frederick Zorn.
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Where can I find the form 990 for Woodridge Nonprofit Corporation C/O Frederick Zorn?
Woodridge Nonprofit Corporation C/O Frederick Zorn's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Woodridge Nonprofit Corporation C/O Frederick Zorn
Woodridge Nonprofit Corporation C/O Frederick Zorn is committed to providing housing solutions for individuals of low and moderate income as well as the elderly. This nonprofit organization takes pride in owning and managing a 100-unit apartment project, situated in Southfield, Michigan. In adherence to Section 207 of the National Housing Act, as amended by Section 223 (F), Woodridge Nonprofit Corporation offers a living space that caters to the needs of its residents. The mission of this nonprofit is to ensure that individuals who may not otherwise have access to affordable housing can find a secure and comfortable place to call home, promoting a sense of stability and community in the process.
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Impact
October, 2024
Woodridge Nonprofit Corporation C/O Frederick Zorn significantly impacts the community by providing essential housing solutions for low and moderate-income individuals, as well as the elderly. Located in Southfield, Michigan, the organization owns and operates a 100-unit apartment complex, which serves as a vital resource in addressing the housing needs of vulnerable populations.
By ensuring that affordable housing options are available, Woodridge plays a critical role in enhancing the quality of life for residents who may struggle to find safe and stable living conditions. The housing initiative not only supports individuals and families but also fosters community stability and resilience. Overall, Woodridge Nonprofit Corporation exemplifies dedication to social equity and the well-being of the community it serves.
This information is meant to be a general summary of Woodridge Nonprofit Corporation C/O Frederick Zorn. 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: $961
- Program Service Revenue: $389,491
- Gross Receipts: $1,072,530
Assets and Liabilities:
- Total Assets: $2,956,119
- Total Liabilities: $2,709,869
- Net Assets: $246,250
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$389,491
Organization Details
Founding Year
2006
Phone
(248) 809-2571Principal Officer
Ken Siver
Main Address
19785 W 12 MILE RD 404, SOUTHFIELD, MI, 48076
NTEE Category
Code: L20 - Housing
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