Overview
What is Lakewood Tenants Organization Inc?
Lakewood Tenants Organization Inc is a nonprofit organization that plays a crucial role in addressing the housing needs of its community. Based on the provided information, their primary mission is to administer the federal Section 8 Program, which aims to provide affordable housing solutions for individuals and families in need. Beyond this, they are dedicated to addressing tenant concerns and meeting their needs, ensuring a smooth administration of the program. Their operations are financially sustained through administrative fees earned from various programs they run. In summary, Lakewood Tenants Organization Inc serves as a vital resource in the community, providing housing solutions and addressing tenant concerns through the administration of the federal Section 8 Program.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
Lakewood Tenants Organization Inc has received a rating of two stars from Charity Navigator, indicating a need for improvement. With an overall score of 60%, the organization demonstrates strengths in specific areas, such as a program expense ratio of 100%, which suggests that all of its expenses are directed toward its programs. However, the organization faces significant challenges in its accountability and financial practices.
One major concern is the lack of independent board members, which could impact the organization’s governance and decision-making processes. Additionally, the absence of financial statements and tax documents on its website raises transparency issues, as these are crucial for maintaining donor trust and accountability. While the organization has a conflict of interest policy and documents board meeting minutes, the missing whistleblower policy further highlights areas where governance could be strengthened.
Overall, while Lakewood Tenants Organization Inc is effectively using its funds for its intended programs, serious improvements are needed in governance and financial transparency to enhance its credibility and operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Lakewood Tenants Organization Inc legitimate?
Lakewood Tenants Organization Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lakewood Tenants Organization 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: $548,250
Professional Fundraising Fees: $0
Other Salaries and Wages: $260,109
For more financial information, click here
What is the mission statement of Lakewood Tenants Organization Inc?
The Lakewood Tenants Organization Inc's mission is centered around addressing the needs and concerns of its tenants, with a primary focus on administering the federal Section 8 housing program. Beyond this, the organization aims to cater to various tenant requirements within this scope. Notably, Lakewood Tenants Organization generates revenue through administrative fees derived from its diverse programs.
Who is the CEO of Lakewood Tenants Organization Inc?
Simcha Greenwald is the Vice President of Lakewood Tenants Organization Inc. The CEO's salary of Lakewood Tenants Organization Inc is $380,280 and their total compensation is $380,280.
What is the revenue of Lakewood Tenants Organization Inc?
Lakewood Tenants Organization Inc's revenue in 2022 was $1,725,961.
Who are the executives of Lakewood Tenants Organization Inc and what are their salaries?
The average compensation at Lakewood Tenants Organization Inc during 2022 was $47,551. There are 17 employees at Lakewood Tenants Organization Inc.
Here are 8 key members and their salaries (Lakewood Tenants Organization Inc's CEO's salary is $380,280 and their total compensation is $380,280):
- Compensation: $380,280
- Related: $0
- Other: $0
- Compensation: $167,970
- 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: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Lakewood Tenants Organization Inc?
Lakewood Tenants Organization Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lakewood Tenants Organization Inc
Lakewood Tenants Organization, a nonprofit organization, is committed to fulfilling its mission of addressing the needs and concerns of its tenants, primarily through the administration of the federal Section 8 housing program. This program aims to provide affordable housing solutions for individuals and families in need. The organization goes beyond merely administering the program; it also earns administrative fees through its various programs. By doing so, Lakewood Tenants Organization demonstrates its dedication to ensuring the success and sustainability of its initiatives, thereby serving its community more effectively.
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Impact
October, 2024
Lakewood Tenants Organization Inc significantly impacts the community by administering the federal Section 8 Program, which provides crucial housing assistance to low-income families. By meeting tenant needs and addressing their concerns, the organization ensures that vulnerable populations have access to affordable housing options. This support not only helps stabilize families but also fosters a sense of community and belonging among residents.
Additionally, the organization generates administrative fees through its programs, which contributes to its sustainability and capacity to enhance services. Their commitment to addressing tenant issues directly influences housing stability in Lakewood, NJ, ultimately promoting better living conditions and overall community well-being.
This information is meant to be a general summary of Lakewood Tenants Organization 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: $23,423
- Gross Receipts: $1,725,961
Assets and Liabilities:
- Total Assets: $4,343,919
- Total Liabilities: $89,608
- Net Assets: $4,254,311
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Organization Details
Founding Year
1977
Phone
(732) 367-0660Principal Officer
Simcha Greenwald
Main Address
600 W KENNEDY BLVD, LAKEWOOD, NJ, 087011243
NTEE Category
Code: L52Z - Housing
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