Overview
What is First Congregational Memorial Tower?
First Congregational Memorial Tower is a nonprofit organization situated in Pasadena, California, with a postal address of PO Box 7070, 91109. The primary mission of this organization is to provide and manage a senior citizen housing complex, catering to the needs of low-income, elderly, and handicapped individuals. The project, identified as CALHFA PROJECT NO.75-081-S, comprises 100 rental units. The nonprofit, with a modest workforce of 4 employees, is dedicated to improving the living conditions and fostering a supportive environment for its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
First Congregational Memorial Tower has received a two-star rating from Charity Navigator, indicating that while it maintains some strong organizational practices, it has significant areas needing improvement. The organization has a commendable program expense ratio of 77.27%, suggesting a strong commitment to its mission, and it benefits from a fully independent board, which is a positive sign for governance.
Despite these strengths, the organization struggles in key accountability and financial transparency metrics. It has poor scores in areas such as tax form disclosures and the presence of vital policies like conflict of interest and whistleblower protections, which were noted as missing. Additionally, the liabilities to assets ratio reflects financial concerns, warranting attention for future sustainability.
Overall, First Congregational Memorial Tower demonstrates effective program allocation and governance but must enhance its operational transparency and financial health to improve its rating and stakeholder trust. Addressing these gaps could help the nonprofit achieve better outcomes and fulfill its mission more effectively.
This AI summary has been generated from information found on Charity Navigator.
Is First Congregational Memorial Tower legitimate?
First Congregational Memorial Tower is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Congregational Memorial Tower 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: $265,086
For more financial information, click here
What is the mission statement of First Congregational Memorial Tower?
The mission of First Congregational Memorial Tower is centered around operating a 100-unit senior citizen housing complex. This complex is specifically designed to cater to the needs of low-income, elderly, and handicapped individuals. The overarching goal is to provide a suitable living space for this demographic, enhancing their quality of life. This initiative is supported by CalHFA Project No. 75-081-S, which offers 100 units of rental housing for eligible tenants.
Who is the CEO of First Congregational Memorial Tower?
Mike Burrows is the Principal Officer of First Congregational Memorial Tower.
What is the revenue of First Congregational Memorial Tower?
First Congregational Memorial Tower's revenue in 2023 was $2,827,900.
Who are the executives of First Congregational Memorial Tower and what are their salaries?
The average compensation at First Congregational Memorial Tower during 2023 was $66,272. There are 4 employees and 9 volunteers at First Congregational Memorial Tower.
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Where can I find the form 990 for First Congregational Memorial Tower?
First Congregational Memorial Tower's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of First Congregational Memorial Tower
First Congregational Memorial Tower's mission is centered around providing housing solutions for the low-income, elderly, and handicapped community. This nonprofit organization operates a 100-unit senior citizen housing complex, serving as a sanctuary for those in need. The CalHFA Project No. 75-081-S is instrumental in providing these residents with rental housing, ensuring they have a secure and comfortable living environment. By catering to this specific demographic, First Congregational Memorial Tower plays a significant role in supporting the well-being and independence of vulnerable individuals, enabling them to maintain a good quality of life.
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Impact
October, 2024
First Congregational Memorial Tower significantly impacts the community by providing essential housing for low-income, elderly, and handicapped individuals in Pasadena, California. By operating a 100-unit senior citizen housing complex, it addresses a critical need for affordable living options, fostering stability and independence among vulnerable populations. This initiative not only enhances the quality of life for its residents but also promotes a sense of community and support, allowing seniors to live in an environment that caters to their specific needs. The project plays a vital role in alleviating housing insecurity for these groups, ensuring they have access to safe, adequate, and affordable accommodations.
This information is meant to be a general summary of First Congregational Memorial Tower. 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 2023.
- Investment Income: $65,575
- Program Service Revenue: $2,762,325
- Gross Receipts: $2,827,900
Assets and Liabilities:
- Total Assets: $7,529,992
- Total Liabilities: $6,133,769
- Net Assets: $1,396,223
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LAUNDRY INCOME
Revenue
$3,783
MISC. OTHER INCOME
Revenue
$1,235
TENANT CHARGES
Revenue
$1,101
TENANT RENTAL INCOME
Revenue
$2,756,206
Organization Details
Founding Year
1974
Phone
(323) 258-3512Principal Officer
Mike Burrows
Main Address
PO BOX 7070, PASADENA, CA, 91109
NTEE Category
Code: L210 - Housing
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