Overview
What is Somerset Lutheran Housing Community Inc?
Somerset Lutheran Housing Community Inc is a nonprofit organization, specifically established to offer housing solutions for low-income elderly or handicapped families. Based in Somerset County, Pennsylvania, the organization operates a 32-unit apartment complex, named Lutheran Commons at Berlin Pike, under Section 202 of the National Housing Act. The project, completed in 2010, started the year with 100% occupancy but experienced a few vacancies due to move-outs or unfortunate circumstances throughout the year. Despite these changes, the overall annual occupancy rate remained high, hovering around 94%. The primary mission of Somerset Lutheran Housing Community Inc is to provide a safe and comfortable living environment for those in need, contributing positively to the community's social fabric.
Official website here: www.alsm.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star rating.
Somerset Lutheran Housing Community Inc has achieved a high score of 97%, which reflects its strong performance in accountability and finance. The organization benefits from a fully independent board, with 80% of its members being independent, ensuring a robust governance structure. Additionally, the charity demonstrates effective financial management with a low liabilities to assets ratio of 16.14% and an impressive program expense ratio of 84.85%, indicating that the majority of its funds are directed toward its mission.
The transparency and operational integrity of Somerset Lutheran Housing are further underscored by its comprehensive policies, including conflict of interest and whistleblower protections. All key documents, such as board meeting minutes, are maintained and available, which reinforces the organization’s commitment to accountability. While the data reflects a strong organizational foundation, ongoing vigilance will be essential to maintain these high standards as the charity grows and evolves.
This AI summary has been generated from information found on Charity Navigator.
Is Somerset Lutheran Housing Community Inc legitimate?
Somerset Lutheran Housing Community Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Somerset Lutheran Housing Community 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: $10,400
For more financial information, click here
Official website here: www.alsm.org
What is the mission statement of Somerset Lutheran Housing Community Inc?
The mission of Somerset Lutheran Housing Community Inc. is centered around providing housing for low-income elderly or handicapped families. They operate a 32-unit apartment complex, utilizing Section 202 of the National Housing Act, which is designed to cater to this specific demographic. Their primary objective is to offer a secure living environment for this vulnerable group. Although not explicitly stated, it can be inferred that their mission also includes ensuring the well-being and comfort of the residents, supporting their independence, and promoting a sense of community within the housing complex.
Official website here: www.alsm.org
Who is the CEO of Somerset Lutheran Housing Community Inc?
Christopher Reighard is the Principal Officer of Somerset Lutheran Housing Community Inc. The CEO's salary of Somerset Lutheran Housing Community Inc is $0 and their total compensation is $367,349.
Official website here: www.alsm.org
What is the revenue of Somerset Lutheran Housing Community Inc?
Somerset Lutheran Housing Community Inc's revenue in 2022 was $144,667.
Official website here: www.alsm.org
Who are the executives of Somerset Lutheran Housing Community Inc and what are their salaries?
The average compensation at Somerset Lutheran Housing Community Inc during 2022 was $10,400. There is 1 employee and 5 volunteers at Somerset Lutheran Housing Community Inc.
Here are 6 key members and their salaries (Somerset Lutheran Housing Community Inc's CEO's salary is $0 and their total compensation is $367,349):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $351,356
- Other: $15,993
- Compensation: $0
- Related: $262,526
- Other: $15,993
Official website here: www.alsm.org
Where can I find the form 990 for Somerset Lutheran Housing Community Inc?
Somerset Lutheran Housing Community Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.alsm.org
Learn more at the official website: www.alsm.org
Mission Statement of Somerset Lutheran Housing Community Inc
Somerset Lutheran Housing Community Inc is a nonprofit organization dedicated to providing housing for low-income elderly or handicapped families. Established with the purpose of operating a 32-unit apartment complex, this organization operates under Section 202 of the National Housing Act. The mission of Somerset Lutheran Housing Community Inc is to offer a safe and comfortable living space for individuals who may be financially challenged or have physical disabilities. The apartment complex, located in Somerset County, Pennsylvania, was completed in January 2010 and has been successful in providing housing for a majority of its units, with an occupancy rate of approximately 94% in its first year. Despite some units becoming vacant due to move-outs or unfortunate incidents, Somerset Lutheran Housing Community Inc continues to play a crucial role in providing affordable housing for those in need.
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Impact
October, 2024
Somerset Lutheran Housing Community Inc significantly impacts the lives of low-income elderly and handicapped families in Somerset County, Pennsylvania, by providing safe, affordable housing through its 32-unit apartment complex. Established under Section 202 of the National Housing Act, it addresses a critical need for accessible living spaces in the community.
With an impressive occupancy rate of approximately 94% throughout the year, this community fosters stability for its residents, allowing them to maintain their independence in a supportive environment. By offering housing specifically designed for those facing economic challenges or disabilities, Somerset Lutheran Housing Community Inc helps to alleviate homelessness and housing insecurity among vulnerable populations.
In addition, the presence of this housing complex enhances the local community by ensuring that fixed-income seniors and those with disabilities have a place to call home, contributing to their overall well-being and quality of life. The organization plays a vital role in promoting dignity and security among its residents, ensuring they have access to essential resources. Overall, its impact is profound, as it creates a caring, inclusive environment that empowers individuals in need.
This information is meant to be a general summary of Somerset Lutheran Housing Community 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: $147
- Program Service Revenue: $141,222
- Gross Receipts: $144,667
Assets and Liabilities:
- Total Assets: $2,019,076
- Total Liabilities: $326,212
- Net Assets: $1,692,864
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$141,222
Organization Details
Founding Year
2008
Phone
(814) 696-4500Principal Officer
Christopher Reighard
Main Address
440 BERLIN PLANK ROAD, SOMERSET, PA, 15501
Website
www.alsm.orgNTEE Category
Code: L40 - Housing
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