Overview
What is Metro Plaza Apartments Inc?
Metro Plaza Apartments Inc, situated in Binghamton, New York, serves as a retirement home or senior housing facility. Its primary objective is to provide subsidized housing for individuals who fall under the category of low-income elderly. This nonprofit organization is dedicated to ensuring that senior citizens have access to affordable housing, thereby contributing to their overall well-being.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star Rating
Metro Plaza Apartments Inc has earned a high rating of 94%, indicating strong performance in accountability and finance. This score reflects the organization's commitment to transparency and responsible financial management, as evidenced by their perfect scores in multiple categories, such as independent board members and financial oversight. The organization operates with a significant majority of independent board members, which enhances its governance structure.
In terms of financial health, Metro Plaza has an impressive program expense ratio of 70.73%, ensuring that a substantial portion of funds is directed toward its programs rather than administrative costs. The organization also boasts a low liabilities-to-assets ratio of just 2.65%, highlighting its strong financial position and ability to manage resources effectively. The presence of robust policies, such as a conflict of interest policy and a whistleblower policy, further supports its accountability standards.
While the organization shows no material diversion of assets, this reinforces its integrity, and the listing of essential governance documents is an additional positive aspect. Overall, Metro Plaza Apartments Inc demonstrates a solid commitment to accountability and effective financial management, making it a trustworthy choice for potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Metro Plaza Apartments Inc legitimate?
Metro Plaza Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Metro Plaza 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: $223,688
For more financial information, click here
What is the mission statement of Metro Plaza Apartments Inc?
Metro Plaza Apartments Inc. is committed to providing subsidized housing for individuals who are elderly and have a low income. This mission is crucial in ensuring that this vulnerable group has access to suitable living arrangements. The organization's primary goal is to provide subsidized housing, specifically tailored for the elderly, thereby addressing their unique needs. This commitment to affordable housing for the elderly reflects Metro Plaza Apartments Inc.'s dedication to promoting dignity and independence for its residents.
Who is the CEO of Metro Plaza Apartments Inc?
Conant Smith is the Assistent Secretary of Metro Plaza Apartments Inc. The CEO's salary of Metro Plaza Apartments Inc is $0 and their total compensation is $16,098.
What is the revenue of Metro Plaza Apartments Inc?
Metro Plaza Apartments Inc's revenue in 2023 was $1,758,109.
Who are the executives of Metro Plaza Apartments Inc and what are their salaries?
The average compensation at Metro Plaza Apartments Inc during 2023 was $5,887. There are 38 employees and 13 volunteers at Metro Plaza Apartments Inc.
Here are 16 key members and their salaries (Metro Plaza Apartments Inc's CEO's salary is $0 and their total compensation is $16,098):
- Compensation: $2,129
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- Other: $0
- Compensation: $0
- Related: $16,098
- Other: $0
- Compensation: $0
- Related: $91,355
- Other: $0
Where can I find the form 990 for Metro Plaza Apartments Inc?
Metro Plaza Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Metro Plaza Apartments Inc
Metro Plaza Apartments Inc, a nonprofit organization, is dedicated to providing subsidized housing for low-income elderly individuals. This retirement home or senior housing program aims to offer a living space that is affordable for elderly people who may have limited financial resources. By offering subsidized housing, Metro Plaza Apartments Inc strives to ensure that the elderly population has access to safe and comfortable living conditions, enabling them to maintain their independence and dignity during their golden years. The organization's mission is to make a positive difference in the lives of elderly individuals by providing them with secure and affordable housing, thereby contributing to their overall well-being and quality of life.
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Impact
October, 2024
Metro Plaza Apartments Inc plays a crucial role in providing subsidized housing for low-income elderly individuals in Binghamton, NY. By offering affordable living options, it addresses the pressing need for accessible housing among seniors who may struggle financially. This initiative not only enhances the quality of life for its residents but also fosters a sense of community and belonging among the elderly population.
The impact of Metro Plaza Apartments extends beyond mere shelter; it contributes to the overall well-being of seniors by ensuring they have a safe and supportive environment. This housing program alleviates the stress associated with financial constraints, allowing residents to focus on their health, social engagements, and personal interests. By meeting these housing needs, Metro Plaza Apartments helps to reduce homelessness and housing instability among the elderly, thereby playing a vital role in the broader social fabric of Binghamton.
This information is meant to be a general summary of Metro Plaza 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 2023.
- Investment Income: $1,438
- Program Service Revenue: $1,756,671
- Gross Receipts: $1,758,109
Assets and Liabilities:
- Total Assets: $4,648,278
- Total Liabilities: $123,588
- Net Assets: $4,524,690
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$1,747,011
LAUNDRY REVENUE
Revenue
$9,472
MISCELLANEOUS
Revenue
$188
Organization Details
Founding Year
1978
Phone
(607) 772-6766Principal Officer
Conant Smith
Main Address
21 NEW STREET, BINGHAMTON, NY, 13903
NTEE Category
Code: L20Z - Housing
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