Overview
What is Leonia Retirement Housing Corp?
Leonia Retirement Housing Corp is a nonprofit organization located at 270 Glenwood Ave, Leonia, New Jersey. Its primary mission is to provide affordable housing for senior citizens, catering to a population with low to moderate incomes. By operating as a low-income housing project, the corporation houses 75 tenant units, ensuring that elderly individuals have a suitable living space. This nonprofit organization is dedicated to upholding the well-being of senior citizens in the Leonia community.
Official website here: www.theglenwood.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating
Leonia Retirement Housing Corp has achieved an 81% rating from Charity Navigator, indicating a solid performance in accountability and finance. This rating reflects the organization’s commitment to transparency and responsible financial management, with a perfect score in areas such as independent board membership and financial oversight. The organization maintains an independent board of directors and adheres to essential governance policies, which bolsters its credibility.
One of the strengths highlighted by the rating is the program expense ratio of 79.44%, showing that a significant portion of its finances is directed toward its programs rather than administrative costs. Additionally, the organization is compliant with various best practice policies, such as conflict of interest and whistleblower protections, ensuring ethical operations and accountability.
However, a notable limitation is the high liabilities to assets ratio of 149.29%, which could indicate financial risk or instability. This aspect may raise concerns regarding the organization’s long-term financial health. Overall, while Leonia Retirement Housing Corp demonstrates strong governance and program efficiency, the financial leverage situation warrants careful monitoring.
This AI summary has been generated from information found on Charity Navigator.
Is Leonia Retirement Housing Corp legitimate?
Leonia Retirement Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Leonia Retirement Housing 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.theglenwood.org
What is the mission statement of Leonia Retirement Housing Corp?
The mission of Leonia Retirement Housing Corp is centered around providing housing for senior citizens who fall under the categories of low and moderate income. This organization is committed to making housing accessible for this specific demographic, ensuring they have a suitable living space. The project managed by Leonia Retirement Housing Corp currently accommodates 75 tenant units, further emphasizing their dedication to this cause.
Official website here: www.theglenwood.org
Who is the CEO of Leonia Retirement Housing Corp?
Rebecca Root is the President of Leonia Retirement Housing Corp.
Official website here: www.theglenwood.org
What is the revenue of Leonia Retirement Housing Corp?
Leonia Retirement Housing Corp's revenue in 2022 was $1,390,073.
Official website here: www.theglenwood.org
Who are the executives of Leonia Retirement Housing Corp and what are their salaries?
There 5 volunteers at Leonia Retirement Housing Corp.
Here are 5 key members and their salaries:
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Official website here: www.theglenwood.org
Where can I find the form 990 for Leonia Retirement Housing Corp?
Leonia Retirement Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.theglenwood.org
Learn more at the official website: www.theglenwood.org
Mission Statement of Leonia Retirement Housing Corp
Leonia Retirement Housing Corp is dedicated to providing housing solutions for senior citizens who fall under the low and moderate income bracket. This nonprofit organization's primary mission is to offer a housing project that accommodates 75 tenant units, catering specifically to this demographic. By providing affordable housing, Leonia Retirement Housing Corp aims to contribute positively to the lives of its elderly residents, enabling them to maintain their independence and dignity in a secure living environment.
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Impact
October, 2024
Leonia Retirement Housing Corp plays a crucial role in addressing the housing needs of low to moderate-income senior citizens. By providing 75 tenant units specifically designed for this demographic, the organization contributes significantly to the well-being and stability of older adults in the Leonia, NJ area.
The availability of affordable housing options enables seniors to maintain their independence while accessing essential resources and community support. This initiative not only alleviates financial pressures on senior citizens but also fosters a sense of community, allowing residents to connect and support one another.
By ensuring that housing is accessible to those with limited income, Leonia Retirement Housing Corp helps improve the quality of life for seniors, promoting dignity and security as they navigate their later years. Overall, the impact of this organization's work is seen in the enhanced living conditions and community engagement of vulnerable populations within the region.
This information is meant to be a general summary of Leonia Retirement Housing 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: $73,910
- Program Service Revenue: $1,306,515
- Gross Receipts: $1,390,073
Assets and Liabilities:
- Total Assets: $4,742,722
- Total Liabilities: $7,080,816
- Net Assets: -$2,338,094
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SECTION 8 RENTAL ASSIS
Revenue
$1,005,930
APARTMENT RENTS
Revenue
$330,630
VACANCY ADJUSTMENTS
Revenue
-$30,045
Organization Details
Founding Year
1975
Phone
(201) 947-9779Principal Officer
Rebecca Root
Main Address
270 GLENWOOD AVE, LEONIA, NJ, 076051137
Website
www.theglenwood.orgNTEE Category
Code: L22 - Housing
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