Alverno Apartments Inc

Charity Navigator Rating: 62%, earning it a Two-Star out of Four Star rating. This rating indicates a moderate level of accountability and financial health within the organization. While Alverno Apartments has strengths in areas such as board independence and having no material diversion of assets, several critical policies and reporting practices are lacking, which detracts from its overall score.

The organization boasts a strong independent board, with 88% of its members being independent, and it scores well in program expense ratio, indicating that a significant portion of its funding is directed towards its programs. However, the absence of a whistleblower policy, document retention and destruction policies, and the failure to provide board meeting minutes or a publicly accessible tax form raises concerns about transparency and governance.

Additionally, the liabilities to assets ratio is notably high at 173.91%, which suggests potential financial risk. These weaknesses need to be addressed to improve the nonprofit's overall effectiveness and credibility in serving its mission.

This AI summary has been generated from information found on Charity Navigator.

Alverno Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Alverno Apartments 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: $0

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