Overview
What is Friendship House Iii Inc?
Friendship House III Inc is a not-for-profit corporation established in accordance with Indiana's not-for-profit statutes. Their primary mission is to provide housing for low-income elderly individuals, operating two facilities: Crooked Creek Tower in Indianapolis, Indiana, and Southdale Tower in Anderson, Indiana. Originally, each project had its individual mortgage note, but on April 12, 2012, these were consolidated into a single combined mortgage under Section 207, in accordance with Section 223(F) of the National Housing Act. The organization's goal is to support elderly individuals with affordable housing, enhancing their quality of life.
Official website here: www.rhf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Friendship House III Inc has received an 81% rating from Charity Navigator, indicating a solid level of accountability and finance management. The rating is derived entirely from their accountability and finance score, which suggests a strong emphasis on transparency and fiscal responsibility. The organization has demonstrated high standards, particularly with 100% independent board members and a robust program expense ratio of 90.62%.
The organization excels in various areas of accountability, including a well-established audit and oversight committee and effective conflict of interest and whistleblower policies. These factors contribute to a strong governance structure. Furthermore, the nonprofit maintains proper documentation practices, including board meeting minutes and financial statements, ensuring that stakeholders are well-informed.
However, while the financial health appears strong, the salaries of key personnel may raise questions regarding compensation levels, with the President/CEO earning over $600,000. This aspect might be a consideration for potential donors who are analyzing the organization’s overall financial efficiency and commitment to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Friendship House Iii Inc legitimate?
Friendship House Iii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friendship House Iii 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: $0
For more financial information, click here
Official website here: www.rhf.org
What is the mission statement of Friendship House Iii Inc?
Friendship House III Inc., a not-for-profit organization established in accordance with Indiana's not-for-profit statutes, was formed with the purpose of managing two housing communities: Crooked Creek Tower in Indianapolis and Southdale Tower in Anderson. These communities provide housing for low-income elderly individuals, in compliance with Section 202 of the National Housing Act. Prior to April 12, 2012, each project had its individual mortgage notes. However, on this date, the individual mortgages were consolidated into a single combined mortgage under Section 207, as per Section 223(F) of the National Housing Act. The organization's primary focus is on providing housing for the elderly, yet the mission statement itself is not explicitly provided in the given information.
Official website here: www.rhf.org
Who is the CEO of Friendship House Iii Inc?
Stuart Hartman is the Principal Officer of Friendship House Iii Inc. The CEO's salary of Friendship House Iii Inc is $0 and their total compensation is $399,323.
Official website here: www.rhf.org
What is the revenue of Friendship House Iii Inc?
Friendship House Iii Inc's revenue in 2022 was $2,980,491.
Official website here: www.rhf.org
Who are the executives of Friendship House Iii Inc and what are their salaries?
Here are 33 key members and their salaries (Friendship House Iii Inc's CEO's salary is $0 and their total compensation is $399,323):
- Compensation: $0
- Related: $529,406
- Other: $72,819
- Compensation: $0
- Related: $400,678
- Other: $45,884
- Compensation: $0
- Related: $370,863
- Other: $28,460
- Compensation: $0
- Related: $285,306
- Other: $23,599
- Compensation: $0
- Related: $249,358
- Other: $38,027
- Compensation: $0
- Related: $225,577
- Other: $40,729
- Compensation: $0
- Related: $228,343
- Other: $34,063
- Compensation: $0
- Related: $215,812
- Other: $30,308
- Compensation: $0
- Related: $199,807
- Other: $40,223
- Compensation: $0
- Related: $215,329
- Other: $22,887
- Compensation: $0
- Related: $220,808
- Other: $2,920
- Compensation: $0
- Related: $184,532
- Other: $14,950
- Compensation: $0
- Related: $178,388
- Other: $16,625
- Compensation: $0
- Related: $174,418
- Other: $13,813
- Compensation: $0
- Related: $165,932
- Other: $16,120
- Compensation: $0
- Related: $154,798
- Other: $15,575
- Compensation: $0
- Related: $151,008
- Other: $14,176
- Compensation: $0
- Related: $147,277
- Other: $13,966
- Compensation: $0
- Related: $148,404
- Other: $12,505
- Compensation: $0
- Related: $139,727
- Other: $20,173
- Compensation: $0
- Related: $153,823
- Other: $4,615
- Compensation: $0
- Related: $146,427
- Other: $2,944
- Compensation: $0
- Related: $139,916
- Other: $3,250
- Compensation: $0
- Related: $66,364
- Other: $2,374
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.rhf.org
Where can I find the form 990 for Friendship House Iii Inc?
Friendship House Iii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.rhf.org
Learn more at the official website: www.rhf.org
Mission Statement of Friendship House Iii Inc
Friendship House III Inc, a not-for-profit corporation established in accordance with Indiana's not-for-profit statutes, was formed with the primary objective of providing housing for low-income elderly individuals. The organization manages two communities: Crooked Creek Tower, a 167-unit complex located in Indianapolis, and Southdale Tower, a 140-unit facility situated in Anderson. Both communities cater specifically to elderly individuals, operating under Section 202 of the National Housing Act.
Before April 12, 2012, each property had its own mortgage note. However, on this date, the individual mortgages of both properties were refinanced into a single combined mortgage under Section 207, in compliance with Section 223(F) of the National Housing Act. This refinancing strategy aimed to consolidate the financial management of the two housing communities, ensuring the continued provision of affordable, secure living spaces for low-income elderly individuals. By consolidating the mortgages, Friendship House III Inc was able to improve its financial stability and sustainability, enabling it to continue its mission of providing housing for the elderly in need.
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Impact
October, 2024
Friendship House III Inc significantly impacts the community by providing vital housing solutions for low-income elderly individuals. With two key locations—Crooked Creek Tower in Indianapolis, housing 167 units, and Southdale Tower in Anderson with 140 units—this initiative creates a stable living environment for seniors, ensuring they have access to safe and affordable accommodations.
By focusing on the housing needs of low-income elderly persons, Friendship House III Inc plays a crucial role in enhancing the quality of life for its residents. The provision of affordable housing not only alleviates financial burdens but also fosters a sense of community and belonging among elderly individuals who may otherwise face isolation.
Moreover, the management of these properties under the purview of Section 202 of the National Housing Act helps ensure that those in need have consistent support and housing security. The refinancing effort undertaken in 2012 demonstrates a commitment to financial sustainability, which further strengthens the organization's ability to serve its residents long-term.
Through these efforts, Friendship House III Inc positively influences the lives of many seniors, empowering them to live with dignity and stability in their later years.
This information is meant to be a general summary of Friendship House Iii 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: $2,749
- Program Service Revenue: $1,084,272
- Gross Receipts: $2,980,491
Assets and Liabilities:
- Total Assets: $8,884,155
- Total Liabilities: $10,240,538
- Net Assets: -$1,356,383
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,084,272
Organization Details
Founding Year
1979
Phone
(562) 257-5100Principal Officer
Stuart Hartman
Main Address
911 N STUDEBAKER ROAD, LONG BEACH, CA, 90815
Website
www.rhf.orgNTEE Category
Code: L22Z - Housing
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