Overview
What is Palermo Lakes Inc?
Palermo Lakes Inc, operating under the business name Palermo Lakes Apartments, is a nonprofit organization based in Plantation, Florida. Its primary mission is to provide affordable housing for the elderly and individuals with disabilities. Regulated and assisted by the Department of Housing and Urban Development (HUD), Palermo Lakes Inc plays a significant role in making housing accessible for those in need. With a small team of five dedicated employees, the organization ensures that their housing units meet the necessary standards, offering a safe and comfortable living environment for its residents.
Official website here: www.ehdoc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74% (Two-Star out of Four Star rating)
Palermo Lakes Inc has received a 74% rating from Charity Navigator, indicating a fair level of financial health and accountability. The organization excels in areas such as having a majority independent board and strong financial oversight, scoring full points in categories like audit committee presence and the liabilities to assets ratio. This suggests that the organization manages its assets responsibly and adheres to basic governance standards.
However, there are notable areas for improvement. The nonprofit lacks policies related to conflict of interest, whistleblower protections, and document retention, each receiving a score of zero. Additionally, there is a significant shortfall in the program expense ratio, indicating that a smaller proportion of its expenses are allocated to program services compared to administrative costs.
In summary, while Palermo Lakes Inc demonstrates solid governance practices in certain areas, it faces challenges in transparency and program expenditure, which could impact donor trust and overall organizational effectiveness. Addressing these limitations would enhance its accountability and potentially improve its rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Palermo Lakes Inc legitimate?
Palermo Lakes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Palermo Lakes 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: $225,398
For more financial information, click here
Official website here: www.ehdoc.org
What is the mission statement of Palermo Lakes Inc?
Palermo Lakes Inc is dedicated to providing low-income housing for the elderly and handicapped. This mission is overseen and supported by the Department of Housing and Urban Development (HUD). The organization's primary focus is on offering a regulated and assisted living environment for this specific group of individuals, ensuring they have a safe and suitable place to reside. By doing so, Palermo Lakes Inc contributes to the well-being and independence of these vulnerable groups, providing them with a sense of community and security.
Official website here: www.ehdoc.org
Who is the CEO of Palermo Lakes Inc?
Melanie Ribeiro is the Director of Palermo Lakes Inc.
Official website here: www.ehdoc.org
What is the revenue of Palermo Lakes Inc?
Palermo Lakes Inc's revenue in 2022 was $839,340.
Official website here: www.ehdoc.org
Who are the executives of Palermo Lakes Inc and what are their salaries?
The average compensation at Palermo Lakes Inc during 2022 was $45,080. There are 5 employees at Palermo Lakes Inc.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $346,895
- Other: $110,937
- Compensation: $0
- Related: $26,541
- Other: $4,777
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ehdoc.org
Where can I find the form 990 for Palermo Lakes Inc?
Palermo Lakes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ehdoc.org
Learn more at the official website: www.ehdoc.org
Mission Statement of Palermo Lakes Inc
Palermo Lakes Inc, a nonprofit organization, is dedicated to providing low-income housing for the elderly and individuals with disabilities. This mission is overseen and supported by the Department of Housing and Urban Development (HUD). The organization's primary role is to ensure that these vulnerable populations have access to suitable living accommodations, which are regulated and assisted by HUD. This commitment to social welfare and housing equality is Palermo Lakes Inc's mission in action.
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Impact
October, 2024
Palermo Lakes Inc plays a crucial role in addressing the housing needs of elderly and handicapped individuals in Plantation, FL. By operating low-income housing, the organization ensures that vulnerable populations have access to safe, affordable living options that enhance their quality of life. The impact of this initiative is significant, as it alleviates housing insecurity for seniors and individuals with disabilities, allowing them to maintain independence in a supportive environment.
Regulated and assisted by the Department of Housing and Urban Development (HUD), Palermo Lakes Inc adheres to established standards that promote healthy living conditions, ensuring that residents receive the necessary support. This not only helps improve their living situations but also fosters a sense of community among residents. By providing stable housing, Palermo Lakes Inc contributes to the overall well-being of marginalized groups, helping to reduce isolation and promote social engagement.
The organization’s focus on low-income housing directly addresses economic disparities and helps to mitigate the adverse effects that often come with being underserved in housing availability. In summary, Palermo Lakes Inc has a profound and positive impact on the lives of elderly and handicapped individuals by ensuring they have access to essential housing resources that support their dignity and independence.
This information is meant to be a general summary of Palermo Lakes 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: $2,484
- Program Service Revenue: $835,785
- Gross Receipts: $839,340
Assets and Liabilities:
- Total Assets: $10,839,596
- Total Liabilities: $2,011,277
- Net Assets: $8,828,319
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE PAYMENTS
Revenue
$528,670
RENT REVENUE
Revenue
$307,115
Organization Details
Founding Year
2004
Phone
(954) 835-9200Principal Officer
Melanie Ribeiro
Main Address
1200 SOUTH PINE ISLAND ROAD STE 725, PLANTATION, FL, 33324
Website
www.ehdoc.orgNTEE Category
Code: L22 - Housing
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