Overview
What is Methodist Towers Inc?
Methodist Towers Inc is a nonprofit organization situated in Erie, Pennsylvania, with an address at 160 West 8th Street. Their primary focus is on providing affordable housing and related facilities and services tailored to meet the physical, social, and psychological needs of the elderly. They operate an apartment building that houses approximately 130 residences year-round. With a dedicated workforce of ten employees, Methodist Towers Inc aims to ensure a comfortable living environment for its elderly residents.
Official website here: www.methodisttowers.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 27%
Methodist Towers Inc has been rated at 27%, reflecting significant concerns regarding its accountability and financial practices. The organization has received a Zero-Star out of Four Star rating, indicating that it falls short in transparency and proper financial management, which are critical for donor trust and organizational effectiveness.
Despite having a fully independent board and scoring well on board-related metrics, Methodist Towers Inc has notable deficiencies in key areas such as financial statements and conflict of interest policies. The charity has not posted essential documents on its website, further diminishing its accountability. While the program expense ratio shows some allocation towards programs, the overall financial health appears questionable given the lack of transparency.
Overall, while Methodist Towers Inc demonstrates some strengths in governance, the critical issues surrounding its financial practices and lack of accessible information may raise concerns for potential donors and stakeholders. Addressing these shortcomings would be essential for improving its rating and public perception.
This AI summary has been generated from information found on Charity Navigator.
Is Methodist Towers Inc legitimate?
Methodist Towers Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Methodist 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $64,096
Professional Fundraising Fees: $0
Other Salaries and Wages: $120,336
For more financial information, click here
Official website here: www.methodisttowers.com
What is the mission statement of Methodist Towers Inc?
Methodist Towers Inc is committed to providing affordable rental housing and related facilities and services, specifically tailored to meet the physical, social, and psychological needs of the elderly. Their mission is to create an environment that caters to the unique requirements of senior residents, ensuring their overall well-being. The organization operates under the regulatory agreement of the US Department of Housing and Urban Development until the mortgage balance is fully paid off. Methodist Towers Inc houses approximately 130 elderly residents year-round, providing them with a supportive living environment.
Official website here: www.methodisttowers.com
Who is the CEO of Methodist Towers Inc?
James Reim is the Director of Methodist Towers Inc.
Official website here: www.methodisttowers.com
What is the revenue of Methodist Towers Inc?
Methodist Towers Inc's revenue in 2021 was $811,089.
Official website here: www.methodisttowers.com
Who are the executives of Methodist Towers Inc and what are their salaries?
The average compensation at Methodist Towers Inc during 2021 was $18,443. There are 10 employees and 11 volunteers at Methodist Towers Inc.
Here are 12 key members and their salaries:
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- Compensation: $60,504
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- Other: $8,358
Official website here: www.methodisttowers.com
Where can I find the form 990 for Methodist Towers Inc?
Methodist Towers Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.methodisttowers.com
Learn more at the official website: www.methodisttowers.com
Mission Statement of Methodist Towers Inc
Methodist Towers Inc, a nonprofit organization, is committed to providing affordable rental housing and related facilities and services that cater specifically to the physical, social, and psychological needs of the elderly. The primary mission of this organization is to create a living environment that caters to the unique needs of the elderly, ensuring they lead comfortable and fulfilling lives. Methodist Towers Inc operates under the regulatory agreement of the US Department of Housing and Urban Development, with the aim of providing housing solutions until the mortgage balance is fully paid off. The apartment building, housing around 130 residences year-round, serves as a home for the elderly, offering them a safe and supportive living space.
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Impact
October, 2024
Methodist Towers Inc significantly enhances the quality of life for the elderly community in Erie, PA, by providing affordable rental housing tailored to meet their specific needs. This initiative not only offers secure and stable living environments but also incorporates related facilities and services designed to address the physical, social, and psychological requirements of its residents.
Currently housing approximately 130 residents year-round, Methodist Towers fosters a sense of community and belonging among the elderly population, which is vital for their overall well-being. By operating under the guidelines of the U.S. Department of Housing and Urban Development, the organization ensures that its facilities are compliant and continuously meet the standards necessary for safe and dignified living.
Overall, Methodist Towers Inc plays a crucial role in combatting housing insecurity for seniors, allowing them to thrive in an environment specifically designed to support their unique challenges and enhance their quality of life.
This information is meant to be a general summary of Methodist 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 2021.
- Investment Income: $223
- Program Service Revenue: $607,462
- Gross Receipts: $811,089
Assets and Liabilities:
- Total Assets: $825,455
- Total Liabilities: $62,257
- Net Assets: $763,198
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$591,930
LAUNDRY & VENDING REVE
Revenue
$15,318
KITCHEN INCOME
Revenue
$214
Organization Details
Founding Year
1968
Phone
(814) 456-1783Principal Officer
James Reim
Main Address
160 WEST 8TH STREET, ERIE, PA, 165011013
Website
www.methodisttowers.comNTEE Category
Code: L21Z - Housing
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