Overview
What is Simadon Corporation?
Simadon Corporation is a nonprofit organization based in Goshen, Indiana. Established with the purpose of constructing and managing a group home for individuals with chronic illnesses, particularly those suffering from serious mental illnesses, the corporation operates River Court Apartments in South Bend, Indiana. This 15-unit facility offers a 24-hour supportive environment, providing essential services such as support, medication monitoring, and life skills enhancement. Operating under Section 811 of the National Affordable Housing Act, the corporation has entered into agreements with HUD, ensuring regulatory compliance and offering rental assistance to low-income families or individuals through the Section 8 program.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Simadon Corporation has achieved a high rating of 94% from Charity Navigator, indicating strong performance in accountability and financial health. The organization boasts an excellent score for its majority independent board members, with 87% of board members being independent. Additionally, it has a solid liability-to-assets ratio of just 3.05%, showcasing its fiscal responsibility.
The organization demonstrates comprehensive governance practices, with conflict of interest, whistleblower, and document retention policies all in place and well-documented. Its program expense ratio of 71.13% signifies a strong commitment to its mission, ensuring that a significant portion of its funds is directed towards programmatic activities rather than administrative costs. Overall, Simadon Corporation exhibits robust operational practices while maintaining transparency and accountability.
No limitations were noted in the available data, which further underscores the nonprofit's effective management and commitment to its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Simadon Corporation legitimate?
Simadon Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Simadon 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Simadon Corporation?
The Simadon Corporation, a not-for-profit entity, was established with the mission to construct, own, and operate a 15-unit group home for individuals living with chronic illnesses, particularly those suffering from serious mental illnesses. This facility, known as River Court Apartments, offers a 24-hour supportive environment, providing essential services such as support, medication monitoring, and life skills enhancement. The organization operates under Section 811 of the National Affordable Housing Act and has a regulatory agreement with the Federal Housing Administration (FHA) section of HUD. Additionally, the Simadon Corporation has entered into a Project Rental Assistance Contract (PRAC Contract) with HUD, which is a rent assistance program for low-income families or individuals, as part of the Section 8 program of the National Housing Act.
Who is the CEO of Simadon Corporation?
Laurie N Nafziger is the President & Ceo of Simadon Corporation. The CEO's salary of Simadon Corporation is $0 and their total compensation is $333,440.
What is the revenue of Simadon Corporation?
Simadon Corporation's revenue in 2023 was $118,151.
Who are the executives of Simadon Corporation and what are their salaries?
There 16 volunteers at Simadon Corporation.
Here are 23 key members and their salaries (Simadon Corporation's CEO's salary is $0 and their total compensation is $333,440):
- Compensation: $0
- Related: $285,709
- Other: $47,731
- Compensation: $0
- Related: $139,412
- Other: $33,033
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $328,011
- Other: $64,895
- Compensation: $0
- Related: $284,248
- Other: $58,918
- Compensation: $0
- Related: $254,632
- Other: $51,386
- Compensation: $0
- Related: $248,354
- Other: $48,198
- Compensation: $0
- Related: $240,559
- Other: $40,223
Where can I find the form 990 for Simadon Corporation?
Simadon Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Simadon Corporation
Simadon Corporation, an Indiana-based not-for-profit organization, was established with a mission to construct, own, and operate a 15-unit group home for individuals living with chronic illnesses, particularly those suffering from serious mental illnesses. This facility, known as River Court Apartments, provides a supportive environment with round-the-clock care. Residents at River Court Apartments benefit from various services, including medication monitoring and life skills enhancement, ensuring they live with the necessary support. Simadon Corporation operates under Section 811 of the National Affordable Housing Act, guaranteeing affordable housing for low-income families or individuals. The corporation holds a regulatory agreement with HUD's Federal Housing Administration (FHA) sector and participates in a Project Rental Assistance Contract (PRAC Contract) with HUD, which is a rent assistance program provided through the Section 8 program of the National Housing Act. This contract supports low-income families by providing them with financial assistance for their rent.
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Impact
October, 2024
Simadon Corporation plays a vital role in enhancing the quality of life for individuals disabled by chronic illnesses, particularly those suffering from serious mental health issues. By operating a 15-unit group home known as River Court Apartments in South Bend, Indiana, it provides a supportive living environment where residents receive round-the-clock care, medication monitoring, and assistance in developing essential life skills.
This focus on support and empowerment helps residents achieve greater independence while ensuring they have access to necessary services. The organization operates under the auspices of the Section 811 program of the National Affordable Housing Act, reflecting its commitment to providing affordable housing for individuals with disabilities.
Additionally, by partnering with the Department of Housing and Urban Development (HUD), including executing agreements for rental assistance, Simadon Corporation contributes significantly to the local community by addressing housing insecurity and promoting the well-being of a vulnerable population. Through its initiatives, the organization not only meets immediate housing needs but also fosters a sense of community and belonging among its residents.
This information is meant to be a general summary of Simadon 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 2023.
- Investment Income: $61
- Program Service Revenue: $47,036
- Gross Receipts: $118,151
Assets and Liabilities:
- Total Assets: $944,369
- Total Liabilities: $28,890
- Net Assets: $915,479
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$47,036
Organization Details
Founding Year
2007
Phone
(574) 234-9923Principal Officer
Laurie N Nafziger
Main Address
PO BOX 809, GOSHEN, IN, 465270809
NTEE Category
Code: L21 - Housing
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