Overview
What is Mentone Garden Court?
Mentone Garden Court is a nonprofit corporation established to construct, own, and manage a 21-unit apartment community in Mentone, Indiana. This initiative is in accordance with Section 202 of the National Affordable Housing Act, and it collaborates with the Federal Housing Administration section of HUD, governed by Standard FHA regulatory agreements. The primary objective is to provide rental assistance for low-income families or individuals through a Project Rental Assistance Contract (PRAC) under the Section 8 program of the National Housing Act. The organization aims to contribute to affordable housing solutions in the area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star Rating
Mentone Garden Court has received a Three-Star rating from Charity Navigator, indicating a satisfactory level of performance with a score based solely on Accountability & Finance. The organization has demonstrated strong practices in board composition and financial management, highlighted by having a fully independent board and no material diversion of assets. Its program expense ratio is commendable at 67.44%, showing a significant portion of its expenses directed towards its programs.
However, there are notable limitations in the charity's accountability practices. While the organization has established policies regarding conflict of interest and maintains adequate board meeting documentation, it lacks critical policies such as a whistleblower policy and document retention and destruction policy. These missing elements may raise questions regarding transparency and governance.
Overall, while Mentone Garden Court exhibits strong financial accountability, the absence of certain policies could be a concern for potential donors seeking assurance of comprehensive governance practices. It is recommended for the organization to address these limitations to enhance its accountability framework.
This AI summary has been generated from information found on Charity Navigator.
Is Mentone Garden Court legitimate?
Mentone Garden Court is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mentone Garden Court 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 Mentone Garden Court?
Mentone Garden Court, as a not-for-profit corporation, was established with the objective of constructing, owning, and operating a 21-unit apartment community. This community, known as Mentone Garden Court, is situated in an unspecified location. The organization was established in accordance with Section 202 of the National Affordable Housing Act and has entered into standard regulatory agreements with the Federal Housing Administration (FHA) section of HUD. A Project Rental Assistance Contract (PRAC) is in place, providing rent assistance for low-income families or individuals, as stipulated by the Section 8 program of the National Housing Act. The primary mission of Mentone Garden Court is to provide affordable housing options for individuals with limited income.
Who is the CEO of Mentone Garden Court?
Jim Causey is the President of Mentone Garden Court.
What is the revenue of Mentone Garden Court?
Mentone Garden Court's revenue in 2022 was $112,876.
Who are the executives of Mentone Garden Court and what are their salaries?
There 15 volunteers at Mentone Garden Court.
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Where can I find the form 990 for Mentone Garden Court?
Mentone Garden Court's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mentone Garden Court
Mentone Garden Court, a nonprofit corporation, was established with the mission to construct, own, and operate a 21-unit apartment community. This organization was organized under Section 202 of the National Affordable Housing Act, with the Federal Housing Administration Section of HUD governing its operation through standard regulatory agreements. The primary objective of Mentone Garden Court is to provide rental assistance for low-income families or individuals, as stipulated by the Section 8 program of the National Housing Act. This assistance is facilitated through a Project Rental Assistance Contract (PRAC). In essence, Mentone Garden Court's mission is to create an affordable housing solution for those in need, ensuring they can reside in a secure and comfortable environment.
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Impact
October, 2024
Mentone Garden Court plays a significant role in enhancing housing stability and accessibility within the Mentone, Indiana community. By providing a 21-unit apartment community, it offers critical housing options for low-income families and individuals who may otherwise struggle to find affordable accommodations.
Through the Project Rental Assistance Contract (PRAC), residents benefit from rent assistance under the Section 8 program, directly alleviating financial burdens and fostering a sense of security among tenants. This assistance helps improve the quality of life for residents, allowing them to focus on other essential aspects of their lives, such as employment, education, and health.
Moreover, by adhering to the regulations set forth by the Federal Housing Administration, Mentone Garden Court ensures compliance and operational standards that promote safe and well-maintained living conditions. Its existence not only meets immediate housing needs but also contributes to the overall well-being of the community, helping to stabilize the local economy and enhance social cohesion among residents.
In essence, Mentone Garden Court creates a supportive environment where low-income families can thrive, reflect a commitment to affordable housing, and fill a crucial gap in the community's housing landscape.
This information is meant to be a general summary of Mentone Garden Court. 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: $30
- Program Service Revenue: $88,202
- Gross Receipts: $112,876
Assets and Liabilities:
- Total Assets: $1,234,073
- Total Liabilities: $20,982
- Net Assets: $1,213,091
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$88,202
Organization Details
Founding Year
2006
Phone
(574) 234-9923Principal Officer
Jim Causey
Main Address
PO BOX 540, SOUTH BEND, IN, 46624
NTEE Category
Code: L22 - Housing
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