Overview
What is Parmly Lakeview Inc?
Parmly Lakeview Inc, headquartered in Shoreview, Minnesota, is a dedicated nonprofit organization that specializes in providing affordable housing for the elderly and disabled. Located in Chisago City, Minnesota, they manage a 60-unit complex, funded by the HUD, to cater to this population's housing needs. In 2022, the organization boasted an impressive occupancy rate of 97.2%. Their mission revolves around offering low-income housing solutions, ensuring elderlies and individuals with disabilities have a secure living environment.
Official website here: www.ecumen.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (66%)
Parmly Lakeview Inc has received a two-star rating from Charity Navigator, indicating that the organization needs improvement in its operations and governance. With an overall score of 66%, it demonstrates some strengths, particularly in its program expense ratio, which is a commendable 77.31%. This suggests that a significant portion of its funds is allocated directly to its programs, reflecting a commitment to its mission.
However, the rating also highlights critical weaknesses in the organization’s governance structures. Notably, there are no independent board members, which raises concerns about accountability and transparency in decision-making processes. Additionally, while the organization has robust policies in place regarding conflict of interest and whistleblowing, the absence of independent oversight could hinder its effectiveness and reliability.
Furthermore, the financial metrics present a concerning liability to assets ratio of 291.38%, indicating potential financial instability. While the organization maintains a solid audit and oversight committee, the missing tax form on its website raises questions about its transparency. Overall, while Parmly Lakeview Inc shows commitment to its programs, significant improvements in governance and financial management are necessary to enhance its rating and credibility.
This AI summary has been generated from information found on Charity Navigator.
Is Parmly Lakeview Inc legitimate?
Parmly Lakeview Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Parmly Lakeview 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: $155,693
For more financial information, click here
Official website here: www.ecumen.org
What is the mission statement of Parmly Lakeview Inc?
Parmly Lakeview Inc, as an organization, is committed to providing low-income housing for the elderly population. This mission is carried out through a HUD-sponsored program. Specifically, they operate a 60-unit apartment complex in an unspecified location, with a high occupancy rate of 97.2% in 2022. Their primary goal is to offer a secure living environment for elderly individuals who may have limited financial resources. By doing so, they contribute to the well-being of this vulnerable demographic.
Official website here: www.ecumen.org
Who is the CEO of Parmly Lakeview Inc?
Shelley Kendrick is the President & Ceo of Parmly Lakeview Inc. The CEO's salary of Parmly Lakeview Inc is $0 and their total compensation is $441,022.
Official website here: www.ecumen.org
What is the revenue of Parmly Lakeview Inc?
Parmly Lakeview Inc's revenue in 2022 was $635,919.
Official website here: www.ecumen.org
Who are the executives of Parmly Lakeview Inc and what are their salaries?
Here are 6 key members and their salaries (Parmly Lakeview Inc's CEO's salary is $0 and their total compensation is $441,022):
- Compensation: $0
- Related: $404,808
- Other: $36,214
- Compensation: $0
- Related: $287,455
- Other: $35,344
- Compensation: $0
- Related: $247,790
- Other: $42,659
- Compensation: $0
- Related: $214,919
- Other: $45,266
- Compensation: $0
- Related: $286,762
- Other: $15,004
- Compensation: $0
- Related: $69,507
- Other: $4,378
Official website here: www.ecumen.org
Where can I find the form 990 for Parmly Lakeview Inc?
Parmly Lakeview Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ecumen.org
Learn more at the official website: www.ecumen.org
Mission Statement of Parmly Lakeview Inc
Parmly Lakeview Inc, a nonprofit organization, is committed to providing low-income housing for the elderly and disabled. They accomplish this mission through a HUD-sponsored program, specifically managing a 60-unit apartment complex in an undisclosed location. In 2022, Parmly Lakeview Inc demonstrated an impressive occupancy rate of 97.2%, indicating a high demand and satisfaction among its residents. By offering affordable housing and ensuring a significant occupancy rate, Parmly Lakeview Inc plays a vital role in providing a secure living environment for the elderly and disabled individuals who require such support.
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Impact
July, 2024
Parmly Lakeview Inc's impact is deeply felt in providing crucial low-income housing for the elderly and disabled through a HUD-sponsored program. The organization operates a 60-unit complex in Chisago City, Minnesota, with an impressive occupancy rate of 97.2% in 2022. By offering affordable housing options to vulnerable populations, Parmly Lakeview Inc plays a vital role in supporting the well-being and security of the elderly and disabled residents in the community.
This information is meant to be a general summary of Parmly Lakeview 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: $149
- Program Service Revenue: $628,994
- Gross Receipts: $635,919
Assets and Liabilities:
- Total Assets: $681,726
- Total Liabilities: $1,986,460
- Net Assets: -$1,304,734
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$615,057
TENANT CHARGES
Revenue
$13,937
Organization Details
Founding Year
2008
Phone
(651) 766-4300Principal Officer
Shelley Kendrick
Main Address
3520 LEXINGTON AVENUE NORTH, SHOREVIEW, MN, 55126
Website
www.ecumen.orgNTEE Category
Code: L22 - Housing
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