Overview
What is Pompton Lakes Senior Citizens Housing Co?
Pompton Lakes Senior Citizens Housing Co is a nonprofit organization situated in Poompton Lakes, New Jersey. The organization's primary mission is to provide affordable housing for senior citizens, operating and maintaining a complex of 100 units specifically designed for this demographic. With a small workforce of five individuals, Pompton Lakes Senior Citizens Housing Co is committed to catering to the housing needs of low-income elderly individuals, ensuring they can age comfortably in their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Pompton Lakes Senior Citizens Housing Co has received an impressive Four-Star rating from Charity Navigator, indicating a strong level of accountability and finance management. This rating is based entirely on their beacon score, highlighting their commitment to responsible financial practices. The organization excels in various areas such as having a fully independent board, effective oversight mechanisms, and strong policies for conflict of interest and whistleblower protections.
The board's composition is notable, with 100% of its members being independent, showcasing a commitment to governance that minimizes conflicts of interest. Financially, the organization demonstrates a solid management of resources, with a program expense ratio of 86.90%, which indicates that a significant portion of funds is directed towards their mission-driven activities. Additionally, their liabilities to assets ratio of just 0.66% illustrates a robust financial health, making them a trustworthy option for potential donors.
While the organization shows commendable strength in financial accountability, the summary does not provide insight into the specific programs or services offered to senior citizens. As a result, potential supporters may find it beneficial to seek further information on the direct impact of their work in the community. Overall, Pompton Lakes Senior Citizens Housing Co stands out as a reputable nonprofit committed to transparency and efficient use of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Pompton Lakes Senior Citizens Housing Co legitimate?
Pompton Lakes Senior Citizens Housing Co is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pompton Lakes 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: $197,668
For more financial information, click here
What is the mission statement of Pompton Lakes Senior Citizens Housing Co?
The Pompton Lakes Senior Citizens Housing Co is dedicated to providing low-income housing for elderly individuals. This organization operates and maintains an apartment complex, specifically designed for senior citizens with limited financial resources. Their mission is centered around offering a living space that is accessible and affordable for this specific demographic, ensuring they can reside comfortably. The organization's activities primarily focus on the operation and upkeep of this housing complex, ensuring it remains a secure and suitable environment for its elderly residents.
What is the revenue of Pompton Lakes Senior Citizens Housing Co?
Pompton Lakes Senior Citizens Housing Co's revenue in 2024 was $2,590,729.
Who are the executives of Pompton Lakes Senior Citizens Housing Co and what are their salaries?
The average compensation at Pompton Lakes Senior Citizens Housing Co during 2024 was $39,534. There are 5 employees at Pompton Lakes Senior Citizens Housing Co.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Pompton Lakes Senior Citizens Housing Co?
Pompton Lakes Senior Citizens Housing Co's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Pompton Lakes Senior Citizens Housing Co
Pompton Lakes Senior Citizens Housing Co is dedicated to providing low-income housing for elderly individuals. This nonprofit organization operates and maintains an apartment complex, housing a total of 100 units, specifically designed for senior citizens who fall under the low-income bracket. The mission of Pompton Lakes Senior Citizens Housing Co is to offer a safe and affordable living environment for its elderly residents, ensuring they can age with dignity and independence. The organization's commitment to low-income senior citizens reflects its belief in the importance of providing essential housing services to those in need, thereby contributing to their overall well-being and quality of life.
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Impact
October, 2024
Pompton Lakes Senior Citizens Housing Co plays a crucial role in improving the quality of life for elderly individuals in the community. By operating and maintaining a 100-unit apartment complex exclusively for low-income seniors, it addresses a critical need for affordable housing in Pompton Lakes, NJ. The organization helps to alleviate the financial burden faced by many elderly residents, allowing them to live independently and enjoy a secure living environment.
In providing safe and affordable accommodations, the organization fosters a sense of community among residents, which can enhance social connections and combat isolation often experienced by seniors. Overall, the presence of Pompton Lakes Senior Citizens Housing Co contributes significantly to the well-being of low-income elderly individuals, ensuring they have access to comfortable housing that meets their needs.
This information is meant to be a general summary of Pompton Lakes 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 2024.
- Investment Income: $334,071
- Program Service Revenue: $2,254,966
- Gross Receipts: $2,590,729
Assets and Liabilities:
- Total Assets: $12,009,327
- Total Liabilities: $103,722
- Net Assets: $11,905,605
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSITANCE- HUD
Revenue
$1,726,551
TENANT PORTION OF RENT
Revenue
$523,435
LAUNDRY REVENUE
Revenue
$4,980
Organization Details
Founding Year
1979
Principal Officer
Jeff Kinon
NTEE Category
Code: L22 - Housing
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