Overview
What is Richard Walz Apartments Inc?
Richard Walz Apartments Inc is a nonprofit housing facility located in Jefferson City, Missouri. It offers supportive housing for individuals with chronic mental health disabilities, accommodating ten residents in nine subsidized units. The organization operates under Section 811 of the National Affordable Housing Act, overseen by the U.S. Department of Housing and Urban Development (HUD) regarding rental rates and operational procedures. The organization's primary program is its Section 811 Capital Advance and the related Project Rental Assistance Contract (PRAC).
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (67%)
Richard Walz Apartments Inc received a two-star rating from Charity Navigator, indicating that while it is performing adequately in certain areas, there are notable concerns regarding its governance and transparency. The organization excels in accountability and finance, scoring a perfect 100% in this category. However, its lack of independent board members and missing key policies, such as a whistleblower policy and document retention guidelines, raises flags about its operational practices.
The program expense ratio of 67.29% suggests that a reasonable portion of funds is directed toward its programs, although there is room for improvement in maximizing this efficiency. Despite having a solid liabilities to assets ratio of 10.07%, the absence of a conflict of interest policy and failure to publish essential documents on its website could hinder donor trust and stakeholder engagement.
Overall, while Richard Walz Apartments Inc shows strength in financial management, the significant gaps in governance practices and transparency highlighted in the rating indicate a need for improvement to enhance its credibility and effectiveness as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Richard Walz Apartments Inc legitimate?
Richard Walz Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Richard Walz Apartments 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: $16,500
For more financial information, click here
What is the mission statement of Richard Walz Apartments Inc?
The mission of Richard Walz Apartments Inc is to provide supportive housing for individuals with chronic mental health disabilities. Operating under Section 811 of the National Affordable Housing Act, this organization's project is regulated by the U.S. Department of Housing and Urban Development (HUD) to ensure fair rental charges and operating methods. The organization's major program is its Section 811 Capital Advance and the related Project Rental Assistance Contract (PRAC). The primary goal is to offer a living space that caters to the unique needs of those living with chronic mental health disabilities, thereby promoting a sense of community and well-being.
Who is the CEO of Richard Walz Apartments Inc?
Chi Cheung is the President of Richard Walz Apartments Inc.
What is the revenue of Richard Walz Apartments Inc?
Richard Walz Apartments Inc's revenue in 2023 was $66,820.
Who are the executives of Richard Walz Apartments Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $178,834
- Other: $7,349
- Compensation: $0
- Related: $111,727
- Other: $11,367
- Compensation: $0
- Related: $0
- Other: $0
- 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 Richard Walz Apartments Inc?
Richard Walz Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Richard Walz Apartments Inc
The Richard Walz Apartments Inc, a residential facility, offers supportive housing for individuals struggling with chronic mental health disabilities. This organization's project, located under Section 811 of the National Affordable Housing Act, is regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rental charges and operating methods. The organization's primary program is its Section 811 Capital Advance and the related Project Rental Assistance Contract (PRAC). In essence, the Richard Walz Apartments Inc aims to provide a safe and subsidized living space for those battling mental health challenges, offering them a chance at a more stable and secure life.
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Impact
June, 2024
Richard Walz Apartments Inc's impact lies in providing essential supportive housing for individuals with chronic mental health disabilities in Jefferson City, Missouri. Through their ten-bed residential facility with nine subsidized units, the organization offers a vital resource for those in need. By operating under Section 811 of the National Affordable Housing Act and following regulations set by the U.S. Department of Housing and Urban Development, Richard Walz Apartments Inc ensures that individuals with mental health challenges have access to safe and affordable housing. This initiative plays a crucial role in supporting the well-being and stability of vulnerable individuals in the community.
This information is meant to be a general summary of Richard Walz Apartments 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: $34
- Program Service Revenue: $29,526
- Gross Receipts: $66,820
Assets and Liabilities:
- Total Assets: $1,009,972
- Total Liabilities: $101,793
- Net Assets: $908,179
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$27,398
LAUNDRY REVENUE
Revenue
$2,128
Organization Details
Founding Year
2009
Principal Officer
Chi Cheung
Main Address
2013 WILLIAM STREET, JEFFERSON CITY, MO, 65109
NTEE Category
Code: F33 - Mental health
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