Overview
What is Lake Ridge Elderly Development Inc?
Lake Ridge Elderly Development Inc is a nonprofit organization situated in Reston, Virginia, specifically at 11260 Roger Bacon Drive STE 20. Their primary mission is to offer affordable housing and essential services to elderly individuals with limited incomes and resources. Established since 1960, they have provided quality, independent apartment living to over 3,000 residents in Reston, Virginia, Woodbridge, Virginia, and Upper Marlboro, Maryland. Lake Ridge Fellowship House, which opened in 1983, is one of their projects, featuring 100 units of independent living, along with shared spaces for activities, games, exercise, social events, and healthcare presentations. The property is positioned near a local shopping plaza, making daily errands convenient for its residents. Lake Ridge Elderly Development Inc operates under Section 223(F) of the National Housing Act and participates in the Section 8 Housing Assistance Payment Program. Regulated by the U.S. Housing and Urban Development Agency, they ensure reasonable rent charges and operating methods for their residents. The organization currently employs 9 individuals.
Official website here: www.fellowshipsquare.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Lake Ridge Elderly Development Inc has received a solid Three-Star rating from Charity Navigator, reflecting its commitment to accountability and financial integrity. The charity’s overall score is derived solely from its Accountability & Finance score, which stands at 81%. This rating indicates a strong performance in managing its resources effectively and transparently.
One of the notable strengths of the organization is its governance structure, with an independent board comprised entirely of independent members, which enhances its accountability. The charity has also demonstrated robust financial oversight, with an audit and oversight committee scoring full points. Additionally, the organization maintains policies on conflicts of interest, whistleblowing, and document retention, further showcasing its commitment to transparency and ethical practices.
However, while the organization performs well in financial metrics, there may be areas for improvement in programmatic impact or community engagement, as these aspects are not reflected in the Accountability & Finance score. Overall, Lake Ridge Elderly Development Inc appears to be a reliable nonprofit with a strong foundation in financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Ridge Elderly Development Inc legitimate?
Lake Ridge Elderly Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Ridge Elderly Development 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: $495,474
For more financial information, click here
Official website here: www.fellowshipsquare.org
What is the mission statement of Lake Ridge Elderly Development Inc?
Lake Ridge Elderly Development Inc's mission is primarily focused on providing affordable housing and necessary services to elderly individuals and those with physical disabilities who are financially disadvantaged. Through their initiatives, they aim to enhance the living conditions of a substantial number of seniors, offering them independent apartment living with essential amenities and services. The organization has been active since 1960, serving over 3,000 residents in various locations, including Reston and Woodbridge, Virginia, and Upper Marlboro, Maryland. Lake Ridge Fellowship House, established in 1983, is one of their properties, providing 100 units of independent living along with communal spaces for activities, games, exercise, social events, and healthcare presentations. The property's location is strategically situated near a shopping plaza, making daily errands convenient for its residents. Lake Ridge Elderly Development Inc operates under Section 223(F) of the National Housing Act and participates in the Section 8 Housing Assistance Payment Program, ensuring that rent charges and operating methods are regulated by the U.S. Housing and Urban Development Agency.
Official website here: www.fellowshipsquare.org
Who is the CEO of Lake Ridge Elderly Development Inc?
Kathleen Harding is the President of Lake Ridge Elderly Development Inc. The CEO's salary of Lake Ridge Elderly Development Inc is $0 and their total compensation is $187,965.
Official website here: www.fellowshipsquare.org
What is the revenue of Lake Ridge Elderly Development Inc?
Lake Ridge Elderly Development Inc's revenue in 2022 was $1,837,167.
Official website here: www.fellowshipsquare.org
Who are the executives of Lake Ridge Elderly Development Inc and what are their salaries?
The average compensation at Lake Ridge Elderly Development Inc during 2022 was $55,053. There are 9 employees and 25 volunteers at Lake Ridge Elderly Development Inc.
Here are 5 key members and their salaries (Lake Ridge Elderly Development Inc's CEO's salary is $0 and their total compensation is $187,965):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $166,540
- Other: $21,425
Official website here: www.fellowshipsquare.org
Where can I find the form 990 for Lake Ridge Elderly Development Inc?
Lake Ridge Elderly Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fellowshipsquare.org
Learn more at the official website: www.fellowshipsquare.org
Mission Statement of Lake Ridge Elderly Development Inc
Lake Ridge Elderly Development Inc, a nonprofit organization, is dedicated to providing affordable housing and essential services for low-income seniors and individuals with physical disabilities. Their mission is to create a living environment that caters to the needs of older adults, who often have limited financial resources.
Lake Ridge Elderly Development Inc has been serving this population since 1960, offering quality, independent living apartments in Reston, Virginia, Woodbridge, Virginia, and Upper Marlboro, Maryland. The organization's flagship property, Fellowship Square, has housed over 3,000 residents, providing them with a sense of community and convenience. Lake Ridge Fellowship House, opened in 1983, offers 100 units of independent living with easy access to a local shopping plaza, making daily errands a breeze for residents.
The organization operates under Section 223(F) of the National Housing Act and participates in the Section 8 Housing Assistance Payment Program. Lake Ridge Elderly Development Inc is regulated by the US Housing and Urban Development Agency, ensuring that rent charges and operational methods are fair and appropriate for the residents it serves. Overall, Lake Ridge Elderly Development Inc is committed to enhancing the lives of seniors and physically disabled individuals by providing them with affordable housing and vital services.
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Impact
October, 2024
Lake Ridge Elderly Development Inc. significantly enhances the quality of life for low-income seniors and individuals with physical disabilities by providing affordable housing and essential services. Since its inception in 1960, Fellowship Square has offered quality, independent apartment living to over 3,000 residents in locations like Reston and Woodbridge, Virginia, and Upper Marlboro, Maryland.
The facility at Lake Ridge Fellowship House, established in 1983, features 100 units specifically designed for independent living. Residents enjoy a range of communal spaces for activities, games, exercise, social events, and healthcare presentations, fostering a strong sense of community and engagement among them. Its strategic location adjacent to a local shopping plaza ensures that daily errands are convenient, enhancing accessibility for residents.
By operating under Section 223(f) of the National Housing Act and participating in the Section 8 Housing Assistance Payment Program, Lake Ridge Elderly Development Inc. maintains affordability while adhering to regulations set by the US Housing and Urban Development Agency. This commitment not only meets housing needs but also cultivates a supportive environment conducive to healthy and active living for seniors.
This information is meant to be a general summary of Lake Ridge Elderly Development 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: $744
- Program Service Revenue: $1,674,652
- Gross Receipts: $1,837,167
Assets and Liabilities:
- Total Assets: $4,977,031
- Total Liabilities: $4,668,934
- Net Assets: $308,097
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$1,674,652
Organization Details
Founding Year
1983
Phone
(703) 494-4455Principal Officer
Kathleen Harding
Main Address
11260 ROGER BACON DRIVE STE 20, RESTON, VA, 20190
Website
www.fellowshipsquare.orgNTEE Category
Code: L21 - Housing
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