Overview
What is Golden Age Towers Inc?
Golden Age Towers Inc is a nonprofit organization situated in Rahway, New Jersey, specifically at 200 East Milton Avenue. Their primary mission is to provide affordable housing for senior citizens with low and moderate incomes. Beyond housing, they also aim to contribute to the community's development by assisting and facilitating educational, health, and human services for seniors in need. To enhance the quality of life for these seniors, they coordinate on-site support and projects within Rahway.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Golden Age Towers Inc has received a strong Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. The organization earned its score based entirely on the Accountability & Finance beacon, reflecting its commitment to transparency and responsible management of resources.
Key strengths include a fully independent board with 100% participation, robust financial oversight through an audit committee, and no reported material diversion of assets. The charity also maintains a conflict of interest policy, a whistleblower policy, and proper document retention practices, further demonstrating its dedication to ethical governance.
While the organization shows impressive financial management with a high program expense ratio of 84.54%, indicating that a significant portion of its budget is allocated towards its mission, there are no noted limitations or concerns in the reviewed data. Overall, Golden Age Towers Inc appears to be a well-managed nonprofit with strong practices in place.
This AI summary has been generated from information found on Charity Navigator.
Is Golden Age Towers Inc legitimate?
Golden Age Towers Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Golden Age Towers Inc 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.
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What is the mission statement of Golden Age Towers Inc?
Golden Age Towers Inc's mission is centered around operating a housing facility for senior citizens with low and moderate income levels. Beyond providing rental accommodations, the organization aims to contribute to community development and offer relief to seniors in financial need. They accomplish this by coordinating and facilitating educational, health, and human services, as well as developing on-site support for projects within the community. The goal is to enhance the quality of life for senior citizens residing in the facility, as well as senior citizens in the community at large.
Who is the CEO of Golden Age Towers Inc?
Rachael Faillace is the President of Golden Age Towers Inc.
What is the revenue of Golden Age Towers Inc?
Golden Age Towers Inc's revenue in 2022 was $3,502,414.
Who are the executives of Golden Age Towers Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Golden Age Towers Inc?
Golden Age Towers Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Golden Age Towers Inc
Golden Age Towers Inc, a nonprofit organization, is dedicated to serving senior citizens of low and moderate income levels. Its primary mission is to operate a housing facility for these individuals, providing them with a place to call home. Beyond this, the organization aims to contribute to community development in the relief of seniors with low income and senior citizens in general. To achieve this, Golden Age Towers Inc coordinates and facilitates educational, health, and human services. They also develop on-site support for projects within the community, with the ultimate goal of improving the quality of life for low-income senior citizens residing in the facility and senior citizens across the community. In essence, Golden Age Towers Inc seeks to provide a nurturing environment and valuable resources for senior citizens, fostering their well-being and overall improvement of their living conditions.
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Impact
October, 2024
Golden Age Towers Inc significantly enhances the quality of life for senior citizens in Rahway, New Jersey, by operating a housing facility specifically designed for low and moderate-income seniors. Located at 200 East Milton Avenue, the facility provides affordable rental options, ensuring that vulnerable seniors have a secure place to live.
Beyond housing, Golden Age Towers Inc actively engages in community development initiatives aimed at relieving the challenges faced by seniors with limited incomes. The organization coordinates and facilitates a range of educational, health, and human services designed to support the needs of this demographic. This comprehensive approach not only addresses immediate housing needs but also fosters a sense of community and belonging among residents.
By developing on-site support projects, Golden Age Towers Inc directly contributes to improving the overall well-being of seniors in Rahway. The organization's commitment to enhancing their quality of life, coupled with efforts to strengthen community ties, underscores its vital role in the welfare of low-income seniors in the area. Through these initiatives, Golden Age Towers Inc is making a meaningful impact by promoting dignity, empowerment, and improved living conditions for the elderly population it serves.
This information is meant to be a general summary of Golden Age Towers Inc. 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: $8,065
- Program Service Revenue: $3,343,015
- Gross Receipts: $3,550,183
Assets and Liabilities:
- Total Assets: $6,885,474
- Total Liabilities: $399,416
- Net Assets: $6,486,058
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APARTMENT RENTS SECTIO
Revenue
$2,333,818
APARTMENT RENTS TENANT
Revenue
$1,096,982
VACANCY LOSS
Revenue
-$87,785
Organization Details
Founding Year
1997
Phone
(732) 499-7950Principal Officer
Rachael Faillace
Main Address
200-220 EAST MILTON AVE, RAHWAY, NJ, 07065
NTEE Category
Code: L22 - Housing
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