Overview
What is Corinthian Square Senior Citizens Housing Corporation?
Corinthian Square Senior Citizens Housing Corporation is a nonprofit organization situated in Philadelphia, Pennsylvania, specifically at 2103 Godfrey Avenue, 19138. Their primary mission is to provide housing for low-income individuals who are eligible for assistance under Section 8 of the National Housing Act. The organization houses 61 residents in this project, offering them subsidies to make their living more affordable. By doing so, Corinthian Square Senior Citizens Housing Corporation contributes to the community by ensuring that senior citizens and other eligible individuals have access to safe and affordable housing.
What are the reviews and ratings of this charity?
Charity Navigator rating: 67% (Two-Star out of Four Stars)
Corinthian Square Senior Citizens Housing Corporation has received a Two-Star rating from Charity Navigator, indicating some areas of strength as well as notable concerns. The organization excels in accountability and finance, showcasing full independence among board members and robust audit practices. With a high program expense ratio of 94.34%, it demonstrates a strong commitment to utilizing funds for its mission.
However, the organization faces challenges, particularly regarding its financial stability, as indicated by a liabilities to assets ratio of 119.50%. This raises questions about its long-term financial health and ability to sustain operations effectively. While the governance structure is commendable, the financial metrics suggest that the organization may need to address its debt management and asset allocation strategies.
Overall, while Corinthian Square Senior Citizens Housing Corporation has shown significant strengths in governance and program execution, potential donors and stakeholders should weigh these advantages against the financial concerns highlighted in the rating.
This AI summary has been generated from information found on Charity Navigator.
Is Corinthian Square Senior Citizens Housing Corporation legitimate?
Corinthian Square Senior Citizens Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Corinthian Square Senior Citizens Housing 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: $140,002
For more financial information, click here
What is the mission statement of Corinthian Square Senior Citizens Housing Corporation?
The Corinthian Square Senior Citizens Housing Corporation is dedicated to providing housing for individuals with low income, who are eligible for housing assistance under Section 8 of the National Housing Act. This corporation operates by managing a sixty-one unit apartment project, where tenants reside with the aid of Section 8 subsidies. Their primary mission is to ensure that these vulnerable individuals have access to affordable housing, contributing to their overall well-being and stability.
Who is the CEO of Corinthian Square Senior Citizens Housing Corporation?
Ernestine Daniel is the President of Corinthian Square Senior Citizens Housing Corporation.
What is the revenue of Corinthian Square Senior Citizens Housing Corporation?
Corinthian Square Senior Citizens Housing Corporation's revenue in 2022 was $1,036,049.
Who are the executives of Corinthian Square Senior Citizens Housing Corporation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Corinthian Square Senior Citizens Housing Corporation?
Corinthian Square Senior Citizens Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Corinthian Square Senior Citizens Housing Corporation
Corinthian Square Senior Citizens Housing Corporation is dedicated to providing housing solutions for individuals with low income, who qualify for housing assistance under Section 8 of the National Housing Act. This nonprofit organization's primary mission is to offer a living space that is both comfortable and affordable, ensuring that eligible tenants have access to a stable and secure home environment. By providing housing assistance, Corinthian Square Senior Citizens Housing Corporation aims to alleviate the burden of housing costs for its residents, enabling them to allocate their resources towards other essential needs. The organization manages a sixty-one unit apartment project, offering subsidized housing to its tenants, thereby contributing to a more equitable and inclusive housing landscape.
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Impact
October, 2024
Corinthian Square Senior Citizens Housing Corporation significantly impacts the community by providing essential housing for low-income tenants eligible for Section 8 assistance. Located in Philadelphia, this sixty-one unit apartment project plays a crucial role in addressing the housing needs of vulnerable individuals, particularly seniors who may struggle to find affordable living options. By offering Section 8 subsidies, it helps alleviate the financial burden faced by residents, ensuring they have stable and secure housing. This initiative not only improves the quality of life for tenants but also contributes to the overall welfare of the community by fostering an environment where low-income seniors can thrive.
This information is meant to be a general summary of Corinthian Square Senior Citizens Housing 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: $20
- Program Service Revenue: $1,036,029
- Gross Receipts: $1,036,049
Assets and Liabilities:
- Total Assets: $2,856,973
- Total Liabilities: $3,440,775
- Net Assets: -$583,802
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,031,342
LAUNDRY & VENDING
Revenue
$4,687
Organization Details
Founding Year
1987
Phone
(215) 438-6403Principal Officer
Ernestine Daniel
Main Address
2103 GODFREY AVENUE, PHILADELPHIA, PA, 19138
NTEE Category
Code: L22Z - Housing
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