Overview
What is Springfield Senior Citizens Housing Inc?
Springfield Senior Citizens Housing Inc is a nonprofit organization situated in Springfield, New Jersey, registered under HUD Section 8. Their primary mission is to offer safe and affordable housing to senior citizens who meet specific income requirements. They accomplish this by providing 34 efficiency apartments and 102 single-bedroom apartments. The organization's overarching goal is to provide suitable living accommodations for elderly individuals at reasonable rates, ensuring they have a comfortable living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
Springfield Senior Citizens Housing Inc has received an 82% score from Charity Navigator, indicating a solid performance in accountability and finance. This rating reflects the organization’s strong governance structure with a fully independent board, ensuring transparency and effective oversight. Key financial indicators, such as a low liabilities to assets ratio and high program expense ratio, suggest that the nonprofit prioritizes its resources toward its mission, supporting the needs of senior citizens.
The organization excels in several areas, including an independent board of directors and a commitment to financial oversight, evidenced by their complete and accurate financial statements. They have demonstrated no material diversion of assets, which further enhances their reputation for trustworthiness. The high program expense ratio indicates that a significant portion of their funding goes directly to programs that benefit the senior community rather than administrative costs.
While the organization shows strong accountability and financial health, there are no noted weaknesses in the provided data. Overall, Springfield Senior Citizens Housing Inc appears to be a reliable nonprofit focused on serving its target population effectively, making it a solid option for potential donors looking to support a trustworthy organization.
This AI summary has been generated from information found on Charity Navigator.
Is Springfield Senior Citizens Housing Inc legitimate?
Springfield Senior Citizens Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Springfield Senior Citizens Housing 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: $219,241
For more financial information, click here
What is the mission statement of Springfield Senior Citizens Housing Inc?
Springfield Senior Citizens Housing Inc's mission is centered around providing senior citizens with affordable living accommodations. The organization strives to offer rental housing and related facilities to the elderly at reasonable rates. In line with this mission, they qualify under HUD Section 8 to receive subsidized rental payments, enabling them to offer safe and affordable housing to senior citizens who meet specific income requirements. The project, comprising 34 efficiency apartments and 102 single-bedroom apartments, is dedicated to serving this population.
Who is the CEO of Springfield Senior Citizens Housing Inc?
Walter Peterson is the President of Springfield Senior Citizens Housing Inc.
What is the revenue of Springfield Senior Citizens Housing Inc?
Springfield Senior Citizens Housing Inc's revenue in 2022 was $2,603,219.
Who are the executives of Springfield Senior Citizens Housing Inc and what are their salaries?
There 6 volunteers at Springfield Senior Citizens Housing Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Springfield Senior Citizens Housing Inc?
Springfield Senior Citizens Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Springfield Senior Citizens Housing Inc
Springfield Senior Citizens Housing Inc, a nonprofit organization, is committed to providing living accommodations for senior citizens at affordable rates. Their primary mission is to offer rental housing and related facilities to elderly individuals who meet certain income requirements. The organization qualifies under HUD Section 8, enabling it to receive subsidized rental payments. This allows Springfield Senior Citizens Housing Inc to provide safe and affordable housing to senior citizens. The project, in total, comprises 34 efficiency apartments and 102 single-bedroom apartments, providing ample living spaces for elderly residents. The organization's mission is crucial in ensuring that senior citizens can reside in a secure and cost-effective environment, enhancing their quality of life and overall well-being.
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Impact
October, 2024
Springfield Senior Citizens Housing Inc significantly enhances the quality of life for senior citizens by providing safe and affordable living accommodations tailored to their needs. By offering 34 efficiency apartments and 102 single-bedroom apartments, the organization ensures that elderly residents have access to a comfortable and supportive living environment. The incorporation of HUD Section 8 allows for subsidized rental payments, which helps seniors who meet specific income requirements afford housing without financial strain. This initiative plays a critical role in addressing the housing challenges faced by older adults in Springfield, NJ, enabling them to live independently while fostering a sense of community among residents. By prioritizing affordable housing, the organization directly contributes to the well-being and dignity of senior citizens in the area.
This information is meant to be a general summary of Springfield Senior Citizens Housing 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: $805
- Program Service Revenue: $500,308
- Gross Receipts: $2,603,219
Assets and Liabilities:
- Total Assets: $10,144,206
- Total Liabilities: $1,455,355
- Net Assets: $8,688,851
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL
Revenue
$500,308
Organization Details
Founding Year
1972
Phone
(973) 467-1480Principal Officer
Walter Peterson
Main Address
350 INDEPENDENCE WAY, SPRINGFIELD, NJ, 070812633
NTEE Category
Code: L22Z - Housing
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