Overview
What is Palmer Park Seniors Housing Inc?
Palmer Park Seniors Housing Inc is a nonprofit organization situated in Rockville, Maryland. Its primary mission is to offer affordable housing and essential services to senior citizens with limited income. The organization houses 69 independent senior residents in rental apartments, providing them with necessary social support. By doing so, Palmer Park Seniors Housing Inc aims to improve the living conditions and well-being of its residents while ensuring they maintain their independence.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86%, Three-Star out of Four Star rating.
Palmer Park Seniors Housing Inc. has received a solid score of 86%, indicating a commendable level of accountability and financial health. The organization boasts a high program expense ratio of 92.23%, which suggests that a significant portion of its funding is directed towards its programs and services, rather than administrative costs. Additionally, the organization has no material diversion of assets and maintains a strong conflict of interest policy, contributing to its overall transparency.
However, it is worth noting that the board composition includes only 42% independent members, which may present some limitations in governance. While the independent board size is satisfactory with three independent members, increasing the percentage of independent directors could enhance oversight and decision-making processes. Overall, Palmer Park Seniors Housing Inc. demonstrates a commitment to ethical practices and effective financial management, with room for improvement in board independence.
This AI summary has been generated from information found on Charity Navigator.
Is Palmer Park Seniors Housing Inc legitimate?
Palmer Park Seniors Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Palmer Park Seniors Housing 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: $105,178
For more financial information, click here
What is the mission statement of Palmer Park Seniors Housing Inc?
Palmer Park Seniors Housing Inc., as an organization, is dedicated to providing affordable housing and essential services. Their primary mission is to cater to the needs of financially disadvantaged independent senior citizens by offering 69 rental apartment units. Alongside the housing facility, they also provide necessary social services. This commitment aims to ensure that these seniors can maintain their independence in a supportive environment.
Who is the CEO of Palmer Park Seniors Housing Inc?
Leila A Finucane is the President & Ceo of Palmer Park Seniors Housing Inc. The CEO's salary of Palmer Park Seniors Housing Inc is $0 and their total compensation is $410,053.
What is the revenue of Palmer Park Seniors Housing Inc?
Palmer Park Seniors Housing Inc's revenue in 2022 was $666,160.
Who are the executives of Palmer Park Seniors Housing Inc and what are their salaries?
Here are 10 key members and their salaries (Palmer Park Seniors Housing Inc's CEO's salary is $0 and their total compensation is $410,053):
- Compensation: $0
- Related: $364,094
- Other: $45,959
- Compensation: $0
- Related: $244,362
- Other: $29,431
- Compensation: $0
- Related: $214,496
- Other: $38,157
- Compensation: $0
- Related: $197,403
- Other: $35,776
- Compensation: $0
- Related: $149,665
- Other: $26,588
- Compensation: $0
- Related: $134,038
- Other: $16,157
- 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 Palmer Park Seniors Housing Inc?
Palmer Park Seniors Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Palmer Park Seniors Housing Inc
Palmer Park Seniors Housing Inc, as its primary mission, provides affordable housing for senior citizens with limited income, offering them 69 rental apartment units. This nonprofit organization goes beyond just providing a place to live by also offering related social services. The aim is to ensure that these independent seniors have a comfortable living situation, thereby contributing to their overall well-being.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Palmer Park Seniors Housing Inc's impact is significant in providing affordable housing and services to very low-income independent senior citizens in Rockville, MD. Through its mission of offering 69 rental apartment units along with related social services, Palmer Park Seniors Housing Inc plays a crucial role in ensuring that senior citizens have access to safe and affordable housing options. By focusing on this specific demographic and providing supportive services, Palmer Park Seniors Housing Inc positively impacts the lives of seniors in need within the community.
This information is meant to be a general summary of Palmer Park Seniors Housing 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: $18
- Program Service Revenue: $666,142
- Gross Receipts: $666,160
Assets and Liabilities:
- Total Assets: $3,655,503
- Total Liabilities: $231,447
- Net Assets: $3,424,056
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Fees & Contracts Gov Ag
Revenue
$368,363
Affordable Housing
Revenue
$288,121
Miscellaneous Income
Revenue
$9,658
Organization Details
Founding Year
2001
Principal Officer
Leila A Finucane
Main Address
11400 Rockville Pike STE 505, Rockville, MD, 20852
NTEE Category
Code: L22 - Housing
If you are a representative of Palmer Park Seniors Housing Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.