Overview
What is Retail Store Employees Building Corporation?
Retail Store Employees Building Corporation is a California-based nonprofit organization, established in compliance with the state's not-for-profit statutes. Initially, its purpose was to provide rental housing and facilities tailored for the elderly, catering to their physical, social, and psychological needs, ultimately contributing to their health, security, happiness, and usefulness in longer living. Following a partnership purchase, the corporation now serves as a financing arm for low-income housing projects, funneling funds through Casa Del Pueblo Preservation Limited Partnership. Its primary function remains committed to supporting affordable housing solutions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star Rating
The Retail Store Employees Building Corporation has received a two-star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The overall score reflects an Accountability & Finance assessment, which highlights both strengths and weaknesses in the organization's practices. The score is particularly impacted by the lack of financial statements, which significantly detracts from the overall assessment.
One notable strength of the organization is its governance structure, as evidenced by having a fully independent board with 100% independent members. Additionally, the organization has demonstrated no material diversion of assets and maintains a strong program expense ratio of 100%, indicating that all expenditures are directed towards its programs. These factors contribute positively to its accountability score.
However, key areas for improvement include the absence of critical financial documentation and policies, such as conflict of interest and whistleblower policies, which were not found in their records. Furthermore, the nonprofit has not posted essential documents like tax forms on its website, which could enhance transparency and trust with stakeholders. Addressing these deficiencies could help improve their overall rating in future evaluations.
This AI summary has been generated from information found on Charity Navigator.
Is Retail Store Employees Building Corporation legitimate?
Retail Store Employees Building Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Retail Store Employees Building 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: $0
For more financial information, click here
What is the mission statement of Retail Store Employees Building Corporation?
The Retail Store Employees Building Corporation, established in accordance with California's not-for-profit statutes, was formed with a mission to provide rental housing and related facilities for the elderly. These facilities aim to cater to the physical, social, and psychological needs of the elderly, contributing to their health, security, happiness, and overall usefulness in longer living. After a partnership purchase, the corporation now funds Casa del Pueblo Preservation Limited Partnership via a seller surplus cash note. In its forward-looking role, the main purpose of this entity is to serve as a financing arm for the low-income housing project through the partnership.
Who is the CEO of Retail Store Employees Building Corporation?
Ron Lind is the President of Retail Store Employees Building Corporation.
What is the revenue of Retail Store Employees Building Corporation?
Retail Store Employees Building Corporation's revenue in 2022 was $530,341.
Who are the executives of Retail Store Employees Building Corporation and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Retail Store Employees Building Corporation?
Retail Store Employees Building Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Retail Store Employees Building Corporation
Retail Store Employees Building Corporation, established in accordance with California's not-for-profit statutes, has a mission to provide suitable housing and related facilities for the elderly. This mission aims to cater to their physical, social, and psychological needs, thereby contributing to their health, security, happiness, and overall usefulness during their longer lives. The corporation's primary purpose is to ensure that the elderly reside in an environment that meets their diverse needs, thereby enhancing their quality of life.
In a unique turn of events, a partnership purchased the project, and Retail Store Employees Building Corporation now funds Casa del Pueblo Preservation Limited Partnership through a seller surplus cash note. This shift in operations has transformed the corporation into a financing arm for low-income housing projects, furthering its commitment to providing suitable living conditions for the elderly. By funding Casa del Pueblo, Retail Store Employees Building Corporation continues to contribute to the well-being of the elderly, ensuring they can live out their later years in comfort and security.
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Impact
July, 2024
Retail Store Employees Building Corporation's impact is centered around providing rental housing and related facilities for the elderly in San Jose, California. By owning and operating a 165-unit apartment complex under Section 236 of the National Housing Act, the corporation ensures that elderly individuals have access to housing that meets their physical, social, and psychological needs. This initiative contributes to the health, security, happiness, and usefulness of the elderly population, enabling them to live longer and more fulfilling lives. Additionally, the corporation's role as a financing arm for low-income housing projects through partnerships further underscores its commitment to supporting affordable housing initiatives for those in need.
This information is meant to be a general summary of Retail Store Employees Building 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.
- Program Service Revenue: $530,341
- Gross Receipts: $530,341
Assets and Liabilities:
- Total Assets: $34,000,490
- Total Liabilities: $0
- Net Assets: $34,000,490
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FINANCING INCOME
Revenue
$530,341
Organization Details
Founding Year
1971
Phone
(408) 294-5380Principal Officer
Ron Lind
Main Address
240 SOUTH MARKET STREET, SAN JOSE, CA, 95113
NTEE Category
Code: L21Z - Housing
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