Overview
What is Mount Nittany Residences Inc?
Mount Nittany Residences Inc, located in Altoona, Pennsylvania, is a nonprofit organization dedicated to providing affordable housing to families with modest incomes. Established with the mission to make housing accessible, they offer low-cost accommodations to meet the needs of their community. By doing so, Mount Nittany Residences Inc aims to contribute positively to the well-being of their residents, thereby enhancing overall living standards within their community.
Official website here: www.improved-dwellings.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement, 73%)
Mount Nittany Residences Inc has received a two-star rating from Charity Navigator, indicating the organization has room for improvement despite showing strengths in certain areas. The nonprofit boasts a perfect Accountability & Finance score of 100%, with all board members being independent, which reflects a strong governance structure. Additionally, it has not reported any material diversion of assets, demonstrating a commitment to financial integrity.
However, several critical governance policies are either missing or not adequately addressed, such as a conflict of interest policy and a whistleblower policy, which negatively impact its overall rating. Furthermore, the organization has a concerning liabilities to assets ratio of 143.62%, suggesting financial stability issues that may warrant closer scrutiny. While the program expense ratio is commendably high at 91.19%, reflecting a strong focus on its mission, the lack of transparency in financial reporting, including missing tax forms on its website, poses significant concerns for potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Mount Nittany Residences Inc legitimate?
Mount Nittany Residences Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mount Nittany Residences 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: $285,357
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Official website here: www.improved-dwellings.org
What is the mission statement of Mount Nittany Residences Inc?
Mount Nittany Residences Inc is committed to providing affordable housing for families with modest incomes. This mission is carried out on a non-profit basis, with the organization dedicated to serving those in need. In essence, Mount Nittany Residences Inc strives to make housing accessible and affordable for a segment of society often faced with housing affordability challenges. They work tirelessly to ensure that low-income families have a place to call home, contributing to the well-being and stability of these families. The organization's efforts are geared towards addressing the housing needs of this particular demographic, thereby promoting social equality and fostering sustainable communities.
Official website here: www.improved-dwellings.org
Who is the CEO of Mount Nittany Residences Inc?
Rev Larry Louder is the President of Mount Nittany Residences Inc.
Official website here: www.improved-dwellings.org
What is the revenue of Mount Nittany Residences Inc?
Mount Nittany Residences Inc's revenue in 2023 was $1,583,889.
Official website here: www.improved-dwellings.org
Who are the executives of Mount Nittany Residences Inc and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.improved-dwellings.org
Where can I find the form 990 for Mount Nittany Residences Inc?
Mount Nittany Residences Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.improved-dwellings.org
Learn more at the official website: www.improved-dwellings.org
Mission Statement of Mount Nittany Residences Inc
Mount Nittany Residences Inc, a non-profit organization, is dedicated to providing affordable housing solutions for families with modest incomes. The mission of this esteemed institution is centered around offering low-cost housing on a charitable basis to those in need. By doing so, Mount Nittany Residences Inc aims to contribute positively to the lives of many families, offering them a stable living environment that they might not otherwise be able to afford.
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Impact
October, 2024
Mount Nittany Residences Inc plays a vital role in the community by providing low-cost housing for low and moderate-income families in Altoona, PA. Its focus on affordable housing addresses a significant need for individuals and families who may struggle to find suitable accommodations within their financial means. By ensuring access to affordable living options, Mount Nittany Residences Inc contributes to stability and quality of life for those it serves. This initiative not only helps families secure a place to live but also fosters community engagement and empowerment, allowing residents to thrive in a supportive environment. The commitment to offering housing on a non-profit basis underscores its dedication to addressing housing disparities and improving the overall well-being of the community.
This information is meant to be a general summary of Mount Nittany Residences 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 2023.
- Investment Income: -$2,536
- Program Service Revenue: $704,616
- Gross Receipts: $1,586,858
Assets and Liabilities:
- Total Assets: $2,781,959
- Total Liabilities: $3,995,497
- Net Assets: -$1,213,538
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME APARTMEN
Revenue
$719,269
APARTMENT VACANCIES
Revenue
-$14,653
Organization Details
Phone
(814) 944-9466Principal Officer
Rev Larry Louder
Main Address
PO BOX 592, ALTOONA, PA, 16603
Website
www.improved-dwellings.orgNTEE Category
Code: L200 - Housing
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