Overview
What is Our Lady Of The Assumption Apts Inc?
Our Lady Of The Assumption Apts Inc is a nonprofit organization situated in Lafayette, Louisiana. Its primary mission is to provide low-income housing on a non-profit basis, in adherence to Section 222(B)(3) of the National Housing Act. This dedicated nonprofit organization offers housing solutions to those in need, contributing to the community's social welfare and housing stability.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87%, Three-Star out of Four Star rating
Our Lady Of The Assumption Apts Inc has received a solid rating of 87% from Charity Navigator, reflecting a strong performance in accountability and financial health. The organization boasts an impressive accountability and finance score, indicating effective governance and transparency practices. Notably, it achieves a perfect score for having a majority of independent board members, which enhances its credibility and oversight.
The organization exhibits responsible financial management, with a low liabilities-to-assets ratio of 5.30% and a high program expense ratio of 91.19%. This suggests that a significant portion of its funding directly supports its programs, underscoring its commitment to its mission. Furthermore, the presence of documented policies regarding conflict of interest and document retention further emphasizes its dedication to ethical practices.
While the overall rating and governance practices are commendable, potential donors and supporters should consider the broader context of the organization's impact and mission effectiveness, as the rating primarily focuses on financial metrics and governance rather than programmatic outcomes.
This AI summary has been generated from information found on Charity Navigator.
Is Our Lady Of The Assumption Apts Inc legitimate?
Our Lady Of The Assumption Apts Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Our Lady Of The Assumption Apts 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: $6,856
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What is the mission statement of Our Lady Of The Assumption Apts Inc?
Our Lady of the Assumption Apts Inc is dedicated to providing low-income housing on a non-profit basis, in adherence to Section 222(B)(3) of the National Housing Act. The organization's mission is centered around making housing accessible for individuals with limited financial resources, operating with a non-profit ethos. By doing so, it contributes to the broader goal of addressing housing inequality and promoting social welfare. The organization's activities are guided by this primary objective, ensuring that low-income individuals have access to suitable housing accommodations.
Who is the CEO of Our Lady Of The Assumption Apts Inc?
Bishop J Douglas Deshotel is the President of Our Lady Of The Assumption Apts Inc.
What is the revenue of Our Lady Of The Assumption Apts Inc?
Our Lady Of The Assumption Apts Inc's revenue in 2022 was $74,417.
Who are the executives of Our Lady Of The Assumption Apts Inc and what are their salaries?
There 7 volunteers at Our Lady Of The Assumption Apts Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Our Lady Of The Assumption Apts Inc?
Our Lady Of The Assumption Apts Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Our Lady Of The Assumption Apts Inc
Our Lady of the Assumption Apts Inc, as a non-profit organization, is dedicated to providing low-income housing in accordance with Section 222(B)(3) of the National Housing Act. By adhering to this act, the organization offers affordable housing solutions to individuals who fall under the low-income bracket. This mission is a vital contribution to the community, ensuring that those in need have access to safe and secure living spaces, thereby contributing to a more equitable society.
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Impact
August, 2024
Our Lady of the Assumption Apts Inc's impact lies in providing low-income housing on a non-profit basis pursuant to Section 222(b)(3) of the National Housing Act. Located in Lafayette, LA, this organization plays a crucial role in serving the community by offering affordable housing options to those in need. By fulfilling its mission of providing low-income housing, Our Lady of the Assumption Apts Inc contributes significantly to ensuring that individuals and families have access to safe and affordable shelter, thereby promoting stability and well-being within the community.
This information is meant to be a general summary of Our Lady Of The Assumption Apts 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: $5
- Program Service Revenue: $27,074
- Gross Receipts: $74,417
Assets and Liabilities:
- Total Assets: $1,046,638
- Total Liabilities: $44,704
- Net Assets: $1,001,934
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$27,074
Organization Details
Phone
(337) 261-5811Principal Officer
Bishop J Douglas Deshotel
Main Address
PO BOX 62190, LAFAYETTE, LA, 70501
NTEE Category
Code: Q99 - International
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