Overview
What is Lincroft Senior Citizens Housing Co?
Lincroft Senior Citizens Housing Co is a nonprofit organization situated in Lincroft, New Jersey. It offers affordable housing for elderly and handicapped families, with 189 units ranging from efficiency units to two-bedroom units. Many residents receive subsidized rent through the U.S. Department of Housing and Urban Development. The organization's primary mission is to provide affordable rental housing and related facilities and services for these families on a non-profit basis, ensuring a comfortable living environment for its residents. The organization employs a team of nine individuals to uphold its mission and maintain its facilities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Lincroft Senior Citizens Housing Co has earned an impressive Four-Star rating from Charity Navigator, reflecting its high commitment to accountability and finance. The organization scored 94% in its Accountability & Finance beacon, indicating strong financial health and effective governance practices. This score is based on a comprehensive evaluation that demonstrates a solid foundation in operational integrity, which is crucial for nonprofit organizations.
The nonprofit boasts a fully independent board with all eight members meeting the criteria for independence, showcasing its commitment to unbiased decision-making. Furthermore, it has robust financial oversight, indicated by a well-structured audit and oversight committee. Policies for conflict of interest, whistleblower protection, and document management are in place, reinforcing transparency and ethical standards.
Additionally, Lincroft Senior Citizens Housing Co demonstrates a strong commitment to its mission, as evidenced by a program expense ratio of 87.82%. This means that a significant portion of its funds is directed towards its programs rather than administrative expenses, highlighting effective resource allocation. Overall, while the organization exhibits impressive accountability and financial management, continuous attention to maintaining these standards will be essential for ongoing success.
This AI summary has been generated from information found on Charity Navigator.
Is Lincroft Senior Citizens Housing Co legitimate?
Lincroft Senior Citizens Housing Co is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lincroft Senior Citizens Housing Co 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: $350,279
For more financial information, click here
What is the mission statement of Lincroft Senior Citizens Housing Co?
Lincroft Senior Citizens Housing Co is a non-profit organization dedicated to providing affordable rental housing and related facilities and services for elderly and handicapped families. Its mission, as expressed through Lincroft Senior Citizen Housing Corporation, is to offer housing solutions on a non-profit basis. The organization maintains a total of 189 apartments, catering to various living needs from efficiency units to two-bedroom units, thereby providing affordable housing options for these families. A significant number of these families benefit from subsidized rent through the U.S. Department of Housing and Urban Development.
Who is the CEO of Lincroft Senior Citizens Housing Co?
Carmen Peterson is the Director of Lincroft Senior Citizens Housing Co.
What is the revenue of Lincroft Senior Citizens Housing Co?
Lincroft Senior Citizens Housing Co's revenue in 2022 was $3,936,385.
Who are the executives of Lincroft Senior Citizens Housing Co and what are their salaries?
The average compensation at Lincroft Senior Citizens Housing Co during 2022 was $38,920. There are 9 employees at Lincroft Senior Citizens Housing Co.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Lincroft Senior Citizens Housing Co?
Lincroft Senior Citizens Housing Co's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lincroft Senior Citizens Housing Co
Lincroft Senior Citizens Housing Co is a dedicated non-profit organization that provides affordable rental housing and related facilities and services for elderly and handicapped families. Established on a non-profit basis, the corporation's mission is to cater to the housing needs of these vulnerable groups, offering them a safe and comfortable living environment. Lincroft Senior Citizens Housing Co maintains a diverse range of apartments, ranging from efficiency units to spacious two-bedroom units. These affordable housing options are designed to accommodate the needs of elderly and handicapped families, many of whom benefit from subsidized rent through the U.S. Department of Housing and Urban Development. By providing affordable housing and essential facilities and services, Lincroft Senior Citizens Housing Co aims to contribute positively to the lives of its residents, ensuring they can live with dignity and independence.
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Impact
October, 2024
Lincroft Senior Citizens Housing Co significantly enhances the quality of life for elderly and handicapped families in Lincroft, NJ, by providing affordable rental housing and essential services tailored to their needs. With 189 apartments ranging from efficiency units to two-bedroom layouts, the organization creates a supportive community that fosters independence and well-being among its residents.
By offering subsidized rent through the U.S. Department of Housing and Urban Development, Lincroft Senior Citizens Housing Co ensures that financial barriers do not prevent eligible families from accessing safe and comfortable living spaces. This approach not only alleviates housing insecurity but also enables residents to allocate their resources toward other necessary living expenses such as healthcare, food, and transportation.
The presence of such affordable housing options contributes to the overall stability of the community, allowing elderly and handicapped individuals to remain in their preferred environments. Furthermore, the organization plays a vital role in promoting socialization and engagement among residents, which is crucial for mental and emotional well-being.
Overall, Lincroft Senior Citizens Housing Co has a profound impact on the lives of its residents, helping them maintain their dignity and quality of life while fostering a sense of belonging within the community.
This information is meant to be a general summary of Lincroft Senior Citizens Housing Co. 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: $128,265
- Program Service Revenue: $3,784,882
- Gross Receipts: $4,018,640
Assets and Liabilities:
- Total Assets: $20,878,199
- Total Liabilities: $509,769
- Net Assets: $20,368,430
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$3,784,882
Organization Details
Founding Year
1975
Phone
(732) 530-0668Principal Officer
Carmen Peterson
Main Address
41 HURLEYS LANE, LINCROFT, NJ, 07738
NTEE Category
Code: L22 - Housing
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