Overview
What is Bourbon Garden Court Inc?
Bourbon Garden Court Inc is a nonprofit organization established in Indiana, with a mission to construct, own, and operate a 22-unit apartment complex in Bourbon, Indiana. Known as Bourbon Garden Court, this entity was organized under Section 811 of the National Housing Act. The organization operates in accordance with standard regulatory agreements with the Federal Housing Administration (FHA) and has also entered into a Project Rental Assistance Contract (PRAC Contract) with HUD. This contract provides rental assistance for low-income families or individuals, as part of the Section 8 program of the National Housing Act. The organization's primary goal is to provide affordable housing solutions in the Bourbon community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star Rating
Bourbon Garden Court Inc has achieved an 80% score, reflecting a strong commitment to accountability and finance, which is crucial for donor trust and sustainability. This rating is based entirely on their performance in the Accountability & Finance beacon, showcasing their effective financial management practices.
The organization boasts a fully independent board, consisting of 13 members, and has demonstrated excellent governance practices, including a solid conflict of interest policy and the documentation of board meeting minutes. Additionally, with no reported material diversion of assets and a low liabilities to assets ratio of 4.04%, the organization exhibits financial stability and responsible management.
While the program expense ratio stands at a commendable 69.80%, which indicates a significant portion of expenses directed towards programs, the rating suggests a need for continuous monitoring to maintain high standards of accountability and transparency. Overall, Bourbon Garden Court Inc appears to be a reliable nonprofit with strong governance practices and sound financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Bourbon Garden Court Inc legitimate?
Bourbon Garden Court Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bourbon Garden Court 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:
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What is the mission statement of Bourbon Garden Court Inc?
Bourbon Garden Court Inc, as a not-for-profit organization, was established with the purpose of constructing, owning, and managing a 22-unit apartment complex. This complex, named Bourbon Garden Court, is located in Bourbon, Indiana. The organization was established in accordance with Section 811 of the National Housing Act. Bourbon Garden Court Inc has entered into agreements with the Federal Housing Administration (FHA) and has also secured a Project Rental Assistance Contract (PRAC Contract) with HUD. This PRAC Contract is a part of the Section 8 Program of the National Housing Act, providing rental assistance to low-income families or individuals. The mission of Bourbon Garden Court Inc can be interpreted as providing affordable housing options and rental assistance for low-income families or individuals, in compliance with the regulations set by HUD.
Who is the CEO of Bourbon Garden Court Inc?
Jim Causey is the President of Bourbon Garden Court Inc.
What is the revenue of Bourbon Garden Court Inc?
Bourbon Garden Court Inc's revenue in 2022 was $141,306.
Who are the executives of Bourbon Garden Court Inc and what are their salaries?
There 15 volunteers at Bourbon Garden Court Inc.
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Where can I find the form 990 for Bourbon Garden Court Inc?
Bourbon Garden Court Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bourbon Garden Court Inc
Bourbon Garden Court Inc, a not-for-profit organization, was established with the mission to construct, own, and operate a 22-unit apartment complex. This complex, named Bourbon Garden Court, is located in Bourbon, Indiana. The organization was founded in compliance with Section 811 of the National Housing Act. Bourbon Garden Court Inc's operations are governed by standard regulatory agreements with the Federal Housing Administration (FHA), and the organization has also entered into a Project Rental Assistance Contract (PRAC Contract) with HUD. This contract is a part of the Section 8 program of the National Housing Act, aimed at providing rent assistance for low-income families or individuals. In essence, Bourbon Garden Court Inc's mission is to offer affordable housing solutions for those in need, ensuring they can live with dignity and security.
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Impact
October, 2024
Bourbon Garden Court Inc plays a crucial role in enhancing affordable housing options in Bourbon, Indiana. By constructing and managing a 22-unit apartment complex specifically designed for low-income families and individuals, it addresses the pressing need for affordable housing in the community.
The organization operates under strict guidelines established by the Federal Housing Administration (FHA) and maintains regulatory agreements with the U.S. Department of Housing and Urban Development (HUD), ensuring that residents have access to safe and well-managed living environments. The Project Rental Assistance Contract (PRAC) further supports low-income families by providing them with rental assistance, making housing more accessible and alleviating financial burdens.
Through its commitment to these initiatives, Bourbon Garden Court Inc not only contributes to stable housing solutions but also promotes community well-being by fostering an inclusive environment for those in need. The impact of this organization extends beyond providing mere shelter; it helps uplift the local community by enhancing quality of life and providing a foundation for families to thrive.
This information is meant to be a general summary of Bourbon Garden Court 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: $4
- Program Service Revenue: $74,727
- Gross Receipts: $141,306
Assets and Liabilities:
- Total Assets: $875,361
- Total Liabilities: $21,722
- Net Assets: $853,639
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$74,727
Organization Details
Founding Year
2004
Phone
(219) 234-9923Principal Officer
Jim Causey
Main Address
P O BOX 540, SOUTH BEND, IN, 46624
NTEE Category
Code: L21 - Housing
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