Overview
What is Wilcox Lane Senior Citizens Housing Co Inc?
Wilcox Lane Senior Citizens Housing Co Inc, based in Rochester, New York, is a dedicated nonprofit organization. Its primary mission is to provide housing facilities tailored to the needs of elderly individuals with limited income. Located at 249 Northton Village Lane, this organization operates a housing complex comprising 118 units in Canandaigna, New York. The nonprofit's core activity revolves around offering suitable living arrangements for senior citizens who fall under the category of low-income earners.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Wilcox Lane Senior Citizens Housing Co Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. With a score of 79%, the organization demonstrates transparency and governance, notably featuring a fully independent board and effective oversight with no material diversion of assets reported. The charity maintains robust policies regarding conflict of interest, whistleblowing, and documentation, showcasing a commitment to ethical practices.
The organization excels in its program expense ratio, dedicating approximately 82.89% of its budget to program activities, which reflects a strong focus on its mission of serving senior citizens. The financial statements indicate a well-structured audit and oversight committee that ensures responsible management of resources. This high level of program expenditure contributes positively to its overall rating.
However, it is worth noting that the organization's liabilities to assets ratio stands at 108.36%, which could indicate potential financial strain as liabilities exceed the assets. This factor is an area of concern, as high liabilities may affect long-term sustainability and operational flexibility. Overall, while Wilcox Lane Senior Citizens Housing Co Inc shows great strengths in governance and program dedication, attention to its financial liabilities is necessary for future stability.
This AI summary has been generated from information found on Charity Navigator.
Is Wilcox Lane Senior Citizens Housing Co Inc legitimate?
Wilcox Lane Senior Citizens Housing Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wilcox Lane Senior Citizens Housing Co 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.
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What is the mission statement of Wilcox Lane Senior Citizens Housing Co Inc?
Wilcox Lane Senior Citizens Housing Co Inc is dedicated to providing housing facilities for individuals who are elderly and fall under the income bracket considered low. This mission is carried out through the operation of a housing complex, which consists of 118 units, specifically designed for this demographic. The organization's ultimate goal is to ensure that elderly people with limited financial resources have access to suitable living accommodations. The focus is on providing a home environment that caters to their needs, thereby improving their quality of life.
Who is the CEO of Wilcox Lane Senior Citizens Housing Co Inc?
Margaret J Hill is the Director of Wilcox Lane Senior Citizens Housing Co Inc.
What is the revenue of Wilcox Lane Senior Citizens Housing Co Inc?
Wilcox Lane Senior Citizens Housing Co Inc's revenue in 2022 was $887,598.
Who are the executives of Wilcox Lane Senior Citizens Housing Co Inc and what are their salaries?
Here are 17 key members and their salaries:
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- Related: $223,822
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- Related: $127,470
- Other: $2,431
Where can I find the form 990 for Wilcox Lane Senior Citizens Housing Co Inc?
Wilcox Lane Senior Citizens Housing Co Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wilcox Lane Senior Citizens Housing Co Inc
Wilcox Lane Senior Citizens Housing Co Inc, as a nonprofit organization, is dedicated to providing housing facilities for elderly individuals of low income. Its mission is centered around ensuring that senior citizens, who may be financially constrained, have access to suitable living spaces. The organization operates a housing complex, comprising of 118 units, specifically designed for this purpose. By offering affordable and comfortable dwellings, Wilcox Lane Senior Citizens Housing Co Inc contributes significantly to the wellbeing of its elderly residents, enabling them to maintain their independence and dignity. The organization's mission is an essential service, catering to the housing needs of a vulnerable population, thereby enhancing their overall quality of life.
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Impact
October, 2024
Wilcox Lane Senior Citizens Housing Co Inc plays a crucial role in addressing the housing needs of low-income senior citizens in Canandaigua, NY. By owning and operating a housing complex with 118 units specifically designed for elderly individuals, the organization ensures that vulnerable members of the community have access to safe, affordable living arrangements. This initiative not only improves the quality of life for seniors but also fosters a sense of community and belonging among residents. By providing stable housing, Wilcox Lane contributes significantly to the well-being and independence of its residents, allowing them to age in place with dignity.
This information is meant to be a general summary of Wilcox Lane Senior Citizens Housing Co 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: $236
- Program Service Revenue: $887,362
- Gross Receipts: $887,598
Assets and Liabilities:
- Total Assets: $4,733,219
- Total Liabilities: $4,902,133
- Net Assets: -$168,914
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET RENTAL INCOME
Revenue
$850,667
MISCELLANEOUS
Revenue
$14,481
RETAINED EXCESS INCOME
Revenue
$14,130
LAUNDRY AND VENDING
Revenue
$8,084
Organization Details
Founding Year
1972
Phone
(585) 467-2442Principal Officer
Margaret J Hill
Main Address
249 NORTON VILLAGE LANE, ROCHESTER, NY, 14609
NTEE Category
Code: L22Z - Housing
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