Overview
What is Ascension Manor Inc?
Ascension Manor Inc is a not-for-profit organization established in accordance with Pennsylvania's nonprofit statutes. Its primary purpose is to construct and manage apartment complexes specifically for the elderly. The organization operates two such complexes, housing a total of 141 units, under Section 221(D)(4) of the National Housing Act. Regulated by the Department of Housing and Urban Development (HUD), these complexes are designed to provide suitable living spaces for the elderly, with rental charges and operational methods subject to HUD guidelines. Ascension Manor Inc's mission has led to the construction of Ascension Manor, a 281-unit community located in Philadelphia, Pennsylvania. A portion of these units are market rate, while others are endorsed by HUD under Section 221(D)(4) of the National Housing Act.
Official website here: www.ukrarcheparchy.us/index.php?categoryid=43
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating
Ascension Manor Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement in certain accountability and transparency practices. While the organization scores well in areas like having an independent board and a strong program expense ratio, it lacks key policies such as a conflict of interest policy and a whistleblower policy, which are crucial for ensuring ethical governance.
The organization demonstrates a solid commitment to its programs with an impressive 94.48% program expense ratio, indicating that a significant portion of its funds is directed towards its mission. Additionally, there are no reported issues with material diversion of assets, which reflects positively on its financial integrity.
However, the liabilities to assets ratio of 75.22% raises some concerns, as it suggests that the organization may be operating with a high level of debt relative to its assets. This could impact its long-term sustainability. Overall, while Ascension Manor Inc shows strengths in programmatic spending and board independence, addressing governance policy gaps and financial health will be essential for enhancing its rating and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Ascension Manor Inc legitimate?
Ascension Manor Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ascension Manor 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $279,384
For more financial information, click here
Official website here: www.ukrarcheparchy.us/index.php?categoryid=43
What is the mission statement of Ascension Manor Inc?
Ascension Manor Inc., established as a not-for-profit corporation in accordance with Pennsylvania's statutes, was founded with the primary objective of constructing and managing senior living apartment complexes. Specifically, the corporation is responsible for a 281-unit community, which includes 52 market-rate units, known as Ascension Manor, situated in Philadelphia, Pennsylvania. This project was endorsed and insured under Section 221(D)(4) of the National Housing Act by the Secretary of Housing and Urban Development. In essence, Ascension Manor Inc. is dedicated to providing suitable living accommodations for the elderly population.
Official website here: www.ukrarcheparchy.us/index.php?categoryid=43
Who is the CEO of Ascension Manor Inc?
Don Miller is the President of Ascension Manor Inc.
Official website here: www.ukrarcheparchy.us/index.php?categoryid=43
What is the revenue of Ascension Manor Inc?
Ascension Manor Inc's revenue in 2022 was $4,340,348.
Official website here: www.ukrarcheparchy.us/index.php?categoryid=43
Who are the executives of Ascension Manor Inc and what are their salaries?
There 7 volunteers at Ascension Manor Inc.
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
Official website here: www.ukrarcheparchy.us/index.php?categoryid=43
Where can I find the form 990 for Ascension Manor Inc?
Ascension Manor Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ukrarcheparchy.us/index.php?categoryid=43
Learn more at the official website: www.ukrarcheparchy.us/index.php?categoryid=43
Mission Statement of Ascension Manor Inc
Ascension Manor Inc, a not-for-profit corporation, was established with a specific purpose in mind: constructing and managing apartment complexes designed to cater to the elderly population. This organization, following the guidelines set by the not-for-profit statutes of Pennsylvania, took on the task of developing a 281-unit community, with 52 units designated as market-rate units. This community, known as Ascension Manor, is located in Philadelphia, Pennsylvania. Notably, Ascension Manor was endorsed for insurance under Section 221(D)(4) of the National Housing Act, with the approval of the Secretary of Housing and Urban Development. This endorsement underscores the commitment and reliability of Ascension Manor Inc in providing safe and secure housing options for the elderly.
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Impact
October, 2024
Ascension Manor Inc has made a significant impact by developing and operating affordable housing specifically for the elderly in Philadelphia. By constructing and managing two apartment complexes totaling 281 units, including 52 market-rate units, it addresses the critical need for affordable senior housing in the region.
Regulated by the U.S. Department of Housing and Urban Development (HUD), the complexes adhere to standards that ensure fair rental charges and operational methods, promoting accessibility and stability for residents. This initiative not only provides safe and comfortable living spaces for seniors but also fosters a sense of community and support among residents, enhancing their quality of life. The organization directly contributes to addressing housing shortages for the elderly, facilitating a more inclusive living environment.
This information is meant to be a general summary of Ascension Manor 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: $1,817
- Program Service Revenue: $1,047,858
- Gross Receipts: $4,340,348
Assets and Liabilities:
- Total Assets: $17,703,189
- Total Liabilities: $13,697,514
- Net Assets: $4,005,675
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,047,858
Organization Details
Founding Year
1965
Phone
(856) 596-0500Principal Officer
Don Miller
Main Address
911 N FRANKLIN STREET, PHILADELPHIA, PA, 19123
NTEE Category
Code: L22Z - Housing
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