Overview
What is Laurentian Hall Associates Inc?
Laurentian Hall Associates Inc is a Pennsylvania-based nonprofit corporation, established in accordance with the state's not-for-profit statutes. Its primary objective is to manage a property known as Laurentian Hall, which houses 36 units for low-income elderly individuals in Pittsburgh, Pennsylvania. The property operates under Section 212, in compliance with Section 221(D)(3) of the National Housing Act, with the goal of providing affordable housing options for this specific demographic. Laurentian Hall Associates Inc's mission is dedicated to managing this property and ensuring it meets the needs of its residents effectively.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (58%)
Laurentian Hall Associates Inc has received a One-Star rating from Charity Navigator, indicating potential concerns regarding its accountability and financial management. The overall score is driven entirely by its Accountability & Finance score of 58%, highlighting that while some aspects of governance are strong, there are significant deficiencies in others.
The organization demonstrates solid governance with 100% independent board members and no material diversion of assets. However, it falls short in several key areas, including the absence of essential policies such as a conflict of interest policy, whistleblower policy, and document retention protocols. Furthermore, the charity's liability to assets ratio is notably high at 267.69%, suggesting potential financial instability.
On a positive note, Laurentian Hall Associates allocates a substantial portion of its expenses to programs, with a program expense ratio of 89.68%. This indicates a commitment to its mission despite the organizational weaknesses observed in governance and financial practices. Overall, while the charity has strengths in governance and program spending, it faces challenges that may concern potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Laurentian Hall Associates Inc legitimate?
Laurentian Hall Associates Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Laurentian Hall Associates 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 Laurentian Hall Associates Inc?
Laurentian Hall Associates Inc is a not-for-profit organization established in accordance with the not-for-profit laws of Pennsylvania. Its primary objective is to manage a property comprising 36 units designed for low-income, elderly individuals. Located in Pittsburgh, Pennsylvania, this property is known as Laurentian Hall. The organization operates under Section 212, in accordance with Section 221(D)(3) of the National Housing Act, with the aim of providing affordable housing solutions for this specific group.
Who is the CEO of Laurentian Hall Associates Inc?
Richard Swartz is the President of Laurentian Hall Associates Inc.
What is the revenue of Laurentian Hall Associates Inc?
Laurentian Hall Associates Inc's revenue in 2022 was $487,796.
Who are the executives of Laurentian Hall Associates Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Laurentian Hall Associates Inc?
Laurentian Hall Associates Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Laurentian Hall Associates Inc
Laurentian Hall Associates Inc, a not-for-profit corporation, was established with a specific mission. This organization was formed in accordance with the not-for-profit statutes of the Commonwealth of Pennsylvania. Its primary purpose is to operate a property, known as Laurentian Hall, which houses 36 units designed for low-income elderly individuals. Located in Pittsburgh, Pennsylvania, this property operates under Section 212, in accordance with Section 221(D)(3) of the National Housing Act, as amended. In essence, Laurentian Hall Associates Inc is dedicated to providing affordable housing for the elderly, offering them a secure and supportive living environment.
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Impact
July, 2024
Laurentian Hall Associates Inc provides affordable housing for low-income elderly persons in Pittsburgh, Pennsylvania through its property, Laurentian Hall. By operating 36 units in accordance with the National Housing Act, the organization directly impacts the lives of elderly individuals who may face housing insecurity or financial challenges. Through its mission, Laurentian Hall Associates Inc contributes to the well-being and stability of the local community by ensuring access to safe and affordable housing for those in need.
This information is meant to be a general summary of Laurentian Hall Associates 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: $937
- Program Service Revenue: $167,930
- Gross Receipts: $487,796
Assets and Liabilities:
- Total Assets: $807,087
- Total Liabilities: $2,160,571
- Net Assets: -$1,353,484
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$167,930
Organization Details
Founding Year
1986
Phone
(412) 441-6950Principal Officer
Richard Swartz
Main Address
113 N PACIFIC AVENUE, PITTSBURGH, PA, 15224
NTEE Category
Code: L21 - Housing
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