Overview
What is Tcs-I Midtown Apartments?
Tcs-I Midtown Apartments is a nonprofit organization situated in Scranton, Pennsylvania, specifically at 670 Adams Avenue. Their primary mission is to provide affordable housing to lower-income residents of the city, ensuring the units are comfortable, clean, modern, and safe. They achieve this by investing in the physical and aesthetic qualities of their 233 residential units, keeping rents 35% to 40% below prevailing market rates in the region. Over the past five years, they have spent around 877,000 on property and equipment additions and renovations, further improving the living conditions for their tenants. Additionally, the organization has made significant capital improvements totalling 2,107,000 in the previous five years. To ensure the safety of its residents, Tcs-I Midtown Apartments collaborates with the City of Scranton for police security coverage, maintains a state-of-the-art video security system, and offers a large, well-maintained green space within the property for residents of all ages to enjoy. With a workforce of 9 employees, the organization has made a positive impact on the community, providing affordable housing options that are both comfortable and secure.
What are the reviews and ratings of this charity?
90% rating from Charity Navigator
Tcs-I Midtown Apartments has earned a Four-Star out of Four Star rating, indicating a high level of accountability and financial health. The overall score is derived solely from the Accountability & Finance beacon, where the organization scored 90%. This is a strong indication of their commitment to transparency and responsible financial management.
The nonprofit demonstrates excellent governance with an independent board comprising 88% independent members. They have also established robust financial oversight systems, as evidenced by their perfect scores in areas like audit and oversight, conflict of interest policy, and document management. The organization’s program expense ratio is exemplary at 100%, ensuring that all funds are directed toward fulfilling its mission.
However, while the financial health and governance practices are commendable, there are no additional details provided regarding program outcomes or impact, which could offer a fuller picture of the organization's effectiveness in serving its community. Overall, Tcs-I Midtown Apartments shows a solid foundation in accountability and financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Tcs-I Midtown Apartments legitimate?
Tcs-I Midtown Apartments is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tcs-I Midtown Apartments 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: $174,645
Professional Fundraising Fees: $0
Other Salaries and Wages: $278,871
For more financial information, click here
What is the mission statement of Tcs-I Midtown Apartments?
Tcs-I Midtown Apartments is dedicated to providing affordable housing for residents with lower income levels. The organization ensures that the living conditions are comfortable, clean, modern, and safe by continuously investing in the physical and aesthetic quality of its 233 residential units. To make these units accessible, Tcs-I Midtown Apartments charges rents that are consistently 35% to 40% below the prevailing market rates in the region. This affordable pricing allows current and potential tenants with lower income to secure housing.
Who is the CEO of Tcs-I Midtown Apartments?
Keith Tucker is the Ex. Director of Tcs-I Midtown Apartments.
What is the revenue of Tcs-I Midtown Apartments?
Tcs-I Midtown Apartments's revenue in 2022 was $1,699,676.
Who are the executives of Tcs-I Midtown Apartments and what are their salaries?
The average compensation at Tcs-I Midtown Apartments during 2022 was $50,391. There are 9 employees at Tcs-I Midtown Apartments.
Here are 10 key members and their salaries:
- Compensation: $109,039
- Related: $18,120
- Other: $18,891
- Compensation: $65,606
- Related: $3,593
- Other: $10,733
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Tcs-I Midtown Apartments?
Tcs-I Midtown Apartments's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tcs-I Midtown Apartments
Tcs-I Midtown Apartments, as a nonprofit organization, is committed to providing affordable housing for lower-income residents in the city. The organization ensures that the 233 residential units under its care are not only affordable but also comfortable, clean, modern, and safe. Tcs-I Midtown Apartments achieves this by consistently reinvesting in the physical and aesthetic quality of its properties. The organization's strategic approach involves charging rents that are significantly lower than the prevailing market rates in the region, typically around 35% to 40% less. This affordable pricing makes Tcs-I Midtown Apartments an attractive housing option for current and potential tenants with lower income levels. By prioritizing affordability and quality, Tcs-I Midtown Apartments plays a crucial role in providing decent housing for those who may otherwise struggle to secure affordable living arrangements.
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Impact
October, 2024
Tcs-I Midtown Apartments significantly enhances the quality of life for lower-income residents in Scranton, PA, by providing 233 units of affordable housing that are comfortable, clean, modern, and safe. By charging rents that are consistently 35% to 40% below prevailing market rates, the apartments open doors for individuals and families who might otherwise struggle to find suitable housing.
The organization actively reinvests in its properties, having allocated $877,000 for property and equipment improvements in the past five years, alongside an additional $2,107,000 in capital enhancements. These investments have transformed the living environment into one of beauty and pride for both residents and the broader community, creating a welcoming atmosphere that promotes stability and well-being.
Safety is a key focus, with measures such as contracted police coverage, a state-of-the-art video security system, and a thoughtfully maintained green space for all ages to enjoy. This comprehensive approach not only meets residents' immediate housing needs but also fosters a sense of community, pride, and security, making Tcs-I Midtown Apartments a vital asset to the city of Scranton.
This information is meant to be a general summary of Tcs-I Midtown Apartments. 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: $638
- Program Service Revenue: $1,699,038
- Gross Receipts: $1,699,676
Assets and Liabilities:
- Total Assets: $4,556,948
- Total Liabilities: $1,513,909
- Net Assets: $3,043,039
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME, RESIDENTS
Revenue
$1,699,038
Organization Details
Founding Year
1970
Phone
(570) 344-9823Principal Officer
Keith Tucker
Main Address
670 ADAMS AVENUE, SCRANTON, PA, 185102027
NTEE Category
Code: L20Z - Housing
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