Overview
What is Union Township Adult Community Development Corp?
Union Township Adult Community Development Corp is a nonprofit organization situated in Union, New Jersey. Its primary objective is to provide affordable housing solutions for senior citizens, ensuring their safety and wellbeing. The organization meets this goal by adhering to HUD Section 8 guidelines, enabling it to receive subsidized rental payments. As of the provided information, Union Township Adult Community Development Corp manages a total of 247 residential units, comprising 30 efficiency apartments, 198 one-bedroom apartments, and 5 two-bedroom apartments. The organization's mission is to offer rental housing and related facilities to the elderly community at an affordable rate, thereby contributing to their comfort and overall quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
Union Township Adult Community Development Corp has received a strong score of 88%, indicating solid accountability and financial practices. The organization has achieved full marks in several areas, including having a majority of independent board members and a comprehensive conflict of interest policy. Its commitment to transparency is reflected in its documented board meeting minutes and thorough financial oversight, contributing to its positive rating.
The organization excels in its program expense ratio, with an impressive 92.52% of its expenses allocated to programs. This suggests that a significant portion of its funding is directed towards its mission, indicating effective use of resources to benefit the community it serves. Additionally, the absence of material diversions of assets enhances its credibility and trustworthiness.
However, while the financial health appears robust, the liabilities to assets ratio of 52.57% suggests that the organization carries a moderate level of debt. While not necessarily alarming, this aspect warrants attention as it may impact future financial flexibility. Overall, Union Township Adult Community Development Corp demonstrates strong governance and financial practices, making it a reliable nonprofit within its sector.
This AI summary has been generated from information found on Charity Navigator.
Is Union Township Adult Community Development Corp legitimate?
Union Township Adult Community Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Union Township Adult Community Development Corp 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:
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Other Salaries and Wages: $0
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What is the mission statement of Union Township Adult Community Development Corp?
The Union Township Adult Community Development Corp's mission is centered around providing affordable living accommodations for senior citizens. Specifically, they aim to offer rental housing and related facilities to elderly individuals at reasonable rates. To achieve this, the organization qualifies under HUD Section 8 to receive subsidized rental payments, enabling them to offer safe and economical housing to senior citizens who meet certain income requirements. The corporation manages a collection of apartments, including 30 efficiency units, 198 one-bedroom apartments, and 5 two-bedroom apartments.
Who is the CEO of Union Township Adult Community Development Corp?
James Masterson is the President of Union Township Adult Community Development Corp.
What is the revenue of Union Township Adult Community Development Corp?
Union Township Adult Community Development Corp's revenue in 2022 was $3,527,300.
Who are the executives of Union Township Adult Community Development Corp and what are their salaries?
There are 19 employees at Union Township Adult Community Development Corp.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Union Township Adult Community Development Corp?
Union Township Adult Community Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Union Township Adult Community Development Corp
Union Township Adult Community Development Corp, as a mission-driven organization, focuses on providing living accommodations for senior citizens at affordable rates. Their primary objective is to offer rental housing and related facilities to elderly individuals who meet specific income requirements. The corporation qualifies under HUD Section 8, enabling it to receive subsidized rental payments to ensure the provision of safe and affordable housing.
In pursuit of this mission, Union Township Adult Community Development Corp offers a variety of dwelling options, including 30 efficiency apartments, 198 one-bedroom apartments, and 5 two-bedroom apartments. By offering these accommodations at affordable rates, the organization strives to make living arrangements more accessible for senior citizens who may have limited financial resources. This commitment to affordable housing and supportive living environments reflects Union Township Adult Community Development Corp's dedication to enhancing the quality of life for elderly individuals.
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Impact
October, 2024
Union Township Adult Community Development Corp significantly impacts the lives of senior citizens in the Union, NJ area by offering safe and affordable housing options. It provides 30 efficiency apartments, 198 one-bedroom apartments, and 5 two-bedroom apartments tailored to meet the needs of elderly residents. By qualifying under HUD Section 8, the organization can receive subsidized rental payments, ensuring that individuals with limited income have access to quality living accommodations. This initiative not only enhances the quality of life for seniors but also fosters a sense of community, allowing residents to live independently in an environment that supports their well-being and dignity.
This information is meant to be a general summary of Union Township Adult Community Development Corp. 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: $13,061
- Program Service Revenue: $3,502,780
- Gross Receipts: $3,527,300
Assets and Liabilities:
- Total Assets: $14,442,460
- Total Liabilities: $7,854,611
- Net Assets: $6,587,849
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL
Revenue
$3,502,780
Organization Details
Founding Year
1978
Phone
(908) 688-0565Principal Officer
James Masterson
Main Address
100 FRANCES CT, UNION, NJ, 07083
NTEE Category
Code: L22I - Housing
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