Overview
What is Kenwood Place I Inc?
Kenwood Place I Inc is a nonprofit organization dedicated to offering affordable housing solutions for the elderly and disabled. Situated in the United States, it is backed by the U.S. Department of Housing and Urban Development (HUD). Tenants residing in Kenwood Place I pay a portion of their rent based on their financial capabilities, as HUD approves and subsidizes these payments. The organization's main objective is to ensure that elderly and disabled individuals have access to suitable housing. The mission of Kenwood Place I is deeply rooted in the provision of affordable living spaces, catering specifically to this vulnerable group of society.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Kenwood Place I Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The overall score is based entirely on its accountability and finance metrics, which are deemed satisfactory. The organization illustrates strong governance with an independent board, which scored a perfect 100% for having all members independent.
The organization demonstrates effective financial practices, as evidenced by its high program expense ratio of 100%. However, it faces challenges with its liabilities to assets ratio, scoring 0 out of 15 points, suggesting potential financial risk that could affect its long-term sustainability. Despite this limitation, the organization has solid policies in place, including conflict of interest and whistleblower policies, demonstrating a commitment to transparency and ethical governance.
Overall, Kenwood Place I Inc shows a commendable level of financial accountability, but stakeholders may want to keep an eye on its financial ratios to ensure the organization remains on a stable path.
This AI summary has been generated from information found on Charity Navigator.
Is Kenwood Place I Inc legitimate?
Kenwood Place I Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kenwood Place I 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: $111,065
For more financial information, click here
What is the mission statement of Kenwood Place I Inc?
Kenwood Place I Inc, as a housing facility, is dedicated to serving the elderly and disabled population by providing them with affordable living spaces. The U.S. Department of Housing and Urban Development (HUD) approves and subsidizes the rent for tenants, ensuring they pay only what they can afford based on their income. The primary mission of Kenwood Place I Inc is to offer low-income housing, thereby addressing the housing needs of this vulnerable group. The organization's efforts aim to promote affordable housing options for the elderly, thereby enhancing their quality of life.
Who is the CEO of Kenwood Place I Inc?
Michael Petrie is the President/Secretary of Kenwood Place I Inc.
What is the revenue of Kenwood Place I Inc?
Kenwood Place I Inc's revenue in 2023 was $587,909.
Who are the executives of Kenwood Place I Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Kenwood Place I Inc?
Kenwood Place I Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Kenwood Place I Inc
Kenwood Place I, a dedicated nonprofit organization, is committed to providing affordable housing solutions for the elderly and disabled. Their mission centers around offering low-income housing for this demographic, ensuring that the tenants pay a portion of their rent based on their financial capabilities, as determined by the U.S. Department of Housing and Urban Development (HUD). This subsidy allows Kenwood Place I to make housing accessible, enabling the elderly to reside in a safe and secure environment. The organization's primary focus is on addressing the housing needs of the elderly population, thereby promoting their well-being and overall quality of life.
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Impact
July, 2024
Kenwood Place I Inc's impact lies in providing essential low-income housing to elderly and disabled individuals in Indianapolis. By offering affordable housing options and rent subsidies determined by their ability to pay, Kenwood Place I enables these vulnerable populations to live with dignity and stability. Their mission to support the elderly with affordable housing speaks to the critical need for such services in the community, ensuring that those in need have a safe and secure place to call home.
This information is meant to be a general summary of Kenwood Place I 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: $9,327
- Program Service Revenue: $578,582
- Gross Receipts: $587,909
Assets and Liabilities:
- Total Assets: $2,086,380
- Total Liabilities: $1,950,722
- Net Assets: $135,658
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$399,685
SECTION 8 HAP PAYMENTS
Revenue
$170,194
TENANT CHARGES
Revenue
$4,839
LAUNDRY AND VENDING
Revenue
$3,035
OTHER REVENUE
Revenue
$829
Organization Details
Founding Year
2009
Phone
(317) 845-4171Principal Officer
Michael Petrie
Main Address
441 WEST MICHIGAN STREET, INDIANAPOLIS, IN, 46202
NTEE Category
Code: L22 - Housing
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