Overview
What is Tenth Memorial Non-Profit Development Corporation?
Tenth Memorial Non-Profit Development Corporation is a charitable organization situated in Philadelphia, Pennsylvania. The primary focus of this nonprofit is to provide affordable housing opportunities for both senior citizens and families, supported by the United States Department of Housing and Urban Development. They manage and maintain 60 units of subsidized apartments, ensuring that these living spaces meet the needs of their residents. Their mission to provide low-income housing is a testament to their commitment to community development and social welfare.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning a Two-Star out of Four Star rating
Tenth Memorial Non-Profit Development Corporation has received a Two-Star rating from Charity Navigator, indicating a need for improvement in several areas despite some strengths. The organization demonstrates a strong commitment to transparency and governance, boasting a fully independent board and a solid audit and oversight framework. Furthermore, it excels in program expense ratio, showing its funds are directed towards its mission effectively.
However, the nonprofit faces significant challenges as evidenced by its high liabilities to assets ratio, which raises concerns about its financial stability. Additionally, the absence of key policies such as conflict of interest, whistleblower, and document retention policies reflects a lack of comprehensive governance practices. The missing tax form on its website further detracts from its accountability and transparency efforts.
Overall, while Tenth Memorial Non-Profit Development Corporation shows potential through its governance structure and program focus, the lack of essential financial documentation and policies indicates areas that require immediate attention to enhance its operational integrity and reliability.
This AI summary has been generated from information found on Charity Navigator.
Is Tenth Memorial Non-Profit Development Corporation legitimate?
Tenth Memorial Non-Profit Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tenth Memorial Non-Profit Development Corporation 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: $122,560
For more financial information, click here
What is the mission statement of Tenth Memorial Non-Profit Development Corporation?
The Tenth Memorial Non-Profit Development Corporation is dedicated to providing low-income housing for senior citizens and families. This mission is facilitated through subsidies from the United States Department of Housing and Urban Development. The organization operates by providing 60 units of apartments that cater to this specific demographic. Their primary goal is to ensure affordable housing options are available for these individuals, thereby improving their living conditions.
Who is the CEO of Tenth Memorial Non-Profit Development Corporation?
William B Moore is the Principal Officer of Tenth Memorial Non-Profit Development Corporation.
What is the revenue of Tenth Memorial Non-Profit Development Corporation?
Tenth Memorial Non-Profit Development Corporation's revenue in 2022 was $988,978.
Who are the executives of Tenth Memorial Non-Profit Development Corporation and what are their salaries?
There 6 volunteers at Tenth Memorial Non-Profit Development Corporation.
Here are 6 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Tenth Memorial Non-Profit Development Corporation?
Tenth Memorial Non-Profit Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tenth Memorial Non-Profit Development Corporation
Tenth Memorial Non-Profit Development Corporation is dedicated to providing affordable housing solutions for senior citizens and families in need. This organization receives subsidies from the United States Department of Housing and Urban Development to accomplish its mission. Specifically, Tenth Memorial Non-Profit Development Corporation manages 60 units of low-income apartments designed for senior citizens and families, ensuring that they have a secure and comfortable living environment. By offering subsidized housing, the corporation plays a crucial role in addressing the housing needs of vulnerable populations and contributing to their overall well-being.
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Impact
October, 2024
Tenth Memorial Non-Profit Development Corporation significantly impacts the community by addressing the critical need for affordable housing in Philadelphia. By providing 60 units of low-income apartments, it offers essential support to senior citizens and families, ensuring access to safe and stable living conditions. These housing units, subsidized by the United States Department of Housing and Urban Development, alleviate financial burdens and enhance the quality of life for vulnerable populations. Its contributions play a vital role in fostering a sense of community and security among residents, helping to create a more inclusive and supportive environment for those in need.
This information is meant to be a general summary of Tenth Memorial Non-Profit Development Corporation. 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: $56
- Program Service Revenue: $988,922
- Gross Receipts: $988,978
Assets and Liabilities:
- Total Assets: $1,549,657
- Total Liabilities: $4,303,950
- Net Assets: -$2,754,293
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$215,224
LAUNDRY/VENDING
Revenue
$3,091
TENANT CHARGES
Revenue
$329
FEES & CONTRACTS FROM GOVERNMENT AGENCIES
Revenue
$770,278
Organization Details
Founding Year
1984
Phone
(215) 232-4902Principal Officer
William B Moore
Main Address
1999 RIDGE AVENUE, PHILADELPHIA, PA, 19121
NTEE Category
Code: L210 - Housing
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