Overview
What is La Colonia Apartments Inc?
La Colonia Apartments Inc is a nonprofit organization dedicated to providing affordable housing options for the elderly. Situated within their facilities, they offer fifty-five family units specifically designed for this demographic. Their mission encompasses extending a hand to individuals with limited income, making it easier for the elderly to secure a suitable living space.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning it a Two-Star out of Four Star rating.
La Colonia Apartments Inc has demonstrated strong accountability and transparency in several areas, particularly with a fully independent board consisting of 100% independent members and a solid program expense ratio of 85.40%. These factors indicate a commitment to effective governance and a focus on utilizing funds for programmatic purposes.
However, the organization has faced challenges reflected in its financial health metrics, particularly a high liabilities to assets ratio of 223.75%, which raises concerns about its overall financial stability. While the organization maintains a clean record regarding material diversion of assets, the financial ratios suggest potential sustainability issues that could impact its long-term operations. Overall, while La Colonia Apartments Inc shows strengths in governance, it needs to address its financial ratios for better stability.
This AI summary has been generated from information found on Charity Navigator.
Is La Colonia Apartments Inc legitimate?
La Colonia Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. La Colonia Apartments 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: $86,667
For more financial information, click here
What is the mission statement of La Colonia Apartments Inc?
La Colonia Apartments Inc, as a organization, is dedicated to providing low-income housing options for the elderly. Specifically, they offer fifty-five family units that cater to this demographic, ensuring affordable housing options are available. The mission of La Colonia Apartments Inc is to make a significant impact in the lives of the elderly by providing them with suitable housing solutions. This commitment extends beyond just housing, as they aim to contribute positively to the community by offering affordable rental options.
Who is the CEO of La Colonia Apartments Inc?
Arthur Balandran is the President of La Colonia Apartments Inc.
What is the revenue of La Colonia Apartments Inc?
La Colonia Apartments Inc's revenue in 2022 was $566,167.
Who are the executives of La Colonia Apartments Inc and what are their salaries?
The average compensation at La Colonia Apartments Inc during 2022 was $12,381. There are 7 employees at La Colonia Apartments Inc.
Here are 9 key members and their salaries:
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Where can I find the form 990 for La Colonia Apartments Inc?
La Colonia Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of La Colonia Apartments Inc
La Colonia Apartments Inc, a nonprofit organization, is dedicated to providing low-income housing opportunities for the elderly. Specifically, they offer fifty-five family units that cater to this demographic, ensuring affordable housing options for this vulnerable group. By offering such accommodations, La Colonia Apartments Inc contributes to the well-being of elderly individuals, providing them with a secure and affordable living environment.
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Impact
July, 2024
La Colonia Apartments Inc's impact lies in providing low-income housing for the elderly in Topeka, Kansas. By offering fifty-five family units with affordable housing options, this organization plays a crucial role in addressing the housing needs of this demographic. Their focus on providing low-income rental housing demonstrates a commitment to ensuring that elderly individuals have access to a safe and affordable place to live. This impact directly contributes to improving the quality of life and housing stability for elderly residents in the community.
This information is meant to be a general summary of La Colonia Apartments 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: $57
- Program Service Revenue: $181,880
- Gross Receipts: $566,167
Assets and Liabilities:
- Total Assets: $615,833
- Total Liabilities: $1,445,065
- Net Assets: -$829,232
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME & ELDERLY HOUSING
Revenue
$195,610
SPECIAL CLAIMS REVENUE
Revenue
$1,931
VACANCY LOSS
Revenue
-$15,661
Organization Details
Founding Year
2007
Phone
(785) 273-2995Principal Officer
Arthur Balandran
Main Address
331 NE GOLDEN, TOPEKA, KS, 666161379
NTEE Category
Code: L22 - Housing
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