Overview
What is Resource Center Apartments Inc?
Resource Center Apartments Inc is a nonprofit organization situated in Springfield, Ohio. Their primary mission is to provide affordable housing for residents struggling with mental health illnesses. They accomplish this by owning and managing a 16-unit apartment complex specifically designed to cater to this population's unique needs. This housing initiative aims to provide a supportive and inclusive living environment for those in need, contributing to their overall well-being and recovery.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Zero-Star out of Four Star rating with a score of 48%
Resource Center Apartments Inc has received a troubling zero-star rating from Charity Navigator, reflecting serious concerns about its accountability and financial practices. The organization scored only 48% overall, indicating significant deficiencies, particularly in governance and independent oversight. Notably, the board lacks independent members, which might raise questions about the effectiveness of its oversight and decision-making.
While the organization received full marks for its program expense ratio, suggesting that it spends its funds on its mission, other areas reveal weaknesses. The lack of a whistleblower policy, poor document retention practices, and a low liabilities to assets ratio are concerning. Furthermore, the absence of a tax form posted on the nonprofit’s website could hinder transparency for stakeholders.
In terms of executive compensation, there is a notable variance, with some key personnel earning substantial salaries, such as the Secretary at $125,955 and the Vice President at $107,282. This disparity in salaries, coupled with the organization's overall low rating, raises questions about financial stewardship and accountability within Resource Center Apartments Inc. Overall, potential donors and stakeholders may want to exercise caution and seek further information before engagement.
This AI summary has been generated from information found on Charity Navigator.
Is Resource Center Apartments Inc legitimate?
Resource Center Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Resource Center 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: $0
For more financial information, click here
What is the mission statement of Resource Center Apartments Inc?
Resource Center Apartments Inc is committed to owning and managing an affordable housing complex, specifically with 16 units, to cater to individuals struggling with mental health illnesses. Their mission is to provide a safe and supportive living environment for these individuals, aiming to enhance their quality of life. The organization operates with a focus on mental health, ensuring that the residents receive the necessary care and support they require. By providing affordable housing, Resource Center Apartments Inc aims to alleviate some of the challenges faced by individuals with mental health illnesses, enabling them to focus on their recovery and overall well-being.
Who is the CEO of Resource Center Apartments Inc?
Lynn Coressel is the President of Resource Center Apartments Inc.
What is the revenue of Resource Center Apartments Inc?
Resource Center Apartments Inc's revenue in 2023 was $140,965.
Who are the executives of Resource Center Apartments Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $41,240
- Other: $17,327
- Compensation: $0
- Related: $107,282
- Other: $10,816
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $125,955
- Other: $12,470
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Resource Center Apartments Inc?
Resource Center Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Resource Center Apartments Inc
Resource Center Apartments Inc, as a nonprofit organization, is dedicated to owning and operating a 16-unit affordable housing complex. This complex is designed to cater to residents struggling with mental health issues, providing them with a safe and supportive living environment. The mission of Resource Center Apartments Inc is to offer housing solutions that prioritize the needs of individuals battling mental health illnesses, aiming to make a positive impact on their lives. By providing affordable housing, the organization strives to create a community where residents can focus on their recovery and well-being, free from the additional stressors that may come with housing insecurity.
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Impact
October, 2024
Resource Center Apartments Inc significantly impacts the Springfield, Ohio community by providing stable and affordable housing for individuals living with mental health illnesses. By operating a 16-unit housing complex, it creates a supportive environment that addresses the unique needs of residents, helping to foster their independence and wellbeing. This initiative not only alleviates the challenges of finding accessible housing but also promotes a sense of belonging and community among residents. Through its commitment to serving this vulnerable population, Resource Center Apartments Inc plays a crucial role in improving mental health outcomes and enhancing the quality of life for its residents.
This information is meant to be a general summary of Resource Center 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: $8
- Program Service Revenue: $52,505
- Gross Receipts: $140,965
Assets and Liabilities:
- Total Assets: $349,805
- Total Liabilities: $446,701
- Net Assets: -$96,896
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME RELATED
Revenue
$52,505
Organization Details
Founding Year
1988
Phone
(937) 390-7980Principal Officer
Lynn Coressel
Main Address
474 N YELLOW SPRINGS ST, SPRINGFIELD, OH, 45504
NTEE Category
Code: P75Z - Human services
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