Overview
What is Appalachian Homes For Elderly Inc?
Appalachian Homes For Elderly Inc, operating under the name Friendship Manor, is a nonprofit organization situated in Morristown, Tennessee. Their primary mission is to provide housing for individuals who are elderly or handicapped, falling under Section 202 of the National Housing Act. Regulated by HUD, they ensure reasonable rent charges and adhere to specific operating methods. With 38 rental units in their complex, they strive to create an environment that caters to the needs of this specific demographic, thereby enhancing their living conditions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 72% (Two-Star out of Four Star rating)
Appalachian Homes For Elderly Inc has received a score of 72%, which reflects a moderate level of accountability and financial health. The organization shows strong governance practices, including an independent board with no material diversion of assets and a well-established conflict of interest policy. However, the absence of a whistleblower policy is noted as a significant gap in their accountability framework.
Financially, the charity has a program expense ratio of 85.07%, indicating that a substantial portion of its funds is directed towards its programs rather than administrative costs. However, the liability to assets ratio of 179.21% raises concerns about the organization's financial stability, suggesting that liabilities exceed assets significantly. This could affect long-term sustainability and operational effectiveness.
Overall, while Appalachian Homes For Elderly Inc demonstrates solid program execution and governance, the financial liabilities and missing policies highlight areas that require attention for enhancing transparency and ensuring long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Appalachian Homes For Elderly Inc legitimate?
Appalachian Homes For Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Appalachian Homes For Elderly 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.
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What is the mission statement of Appalachian Homes For Elderly Inc?
Appalachian Homes For Elderly Inc is dedicated to providing housing solutions for low-income elderly and handicapped individuals. Their mission, as outlined under Section 202 of the National Housing Act, is to offer suitable living spaces for this specific population. The housing complex, regulated by the Department of Housing and Urban Development (HUD), ensures affordable rent charges and operates in a manner that adheres to established methods. Currently, the organization manages 38 rental units within this complex, catering to the housing needs of this vulnerable group.
Who is the CEO of Appalachian Homes For Elderly Inc?
Kay Hale is the President of Appalachian Homes For Elderly Inc.
What is the revenue of Appalachian Homes For Elderly Inc?
Appalachian Homes For Elderly Inc's revenue in 2023 was $169,937.
Who are the executives of Appalachian Homes For Elderly Inc and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for Appalachian Homes For Elderly Inc?
Appalachian Homes For Elderly Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Appalachian Homes For Elderly Inc
Appalachian Homes for Elderly Inc is dedicated to providing housing for individuals who fall into the categories of both low-income and elderly or handicapped. This commitment is in line with Section 202 of the National Housing Act. The organization's mission is to offer a living space that suits their specific needs, ensuring a comfortable and secure environment for these individuals. Appalachian Homes for Elderly Inc is subject to regulations set forth by the U.S. Department of Housing and Urban Development (HUD), which governs the rental charges and operational methods to ensure fairness and sustainability. With 38 rental units available in a complex, the nonprofit strives to make a positive impact in the lives of those who require affordable and inclusive housing options.
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Impact
October, 2024
Appalachian Homes For Elderly Inc plays a vital role in the community by providing affordable housing for low-income elderly and handicapped tenants. With 38 rental units in Morristown, Tennessee, it ensures that vulnerable populations have access to safe and stable living environments. By operating under Section 202 of the National Housing Act and adhering to HUD regulations regarding rent and operational methods, the organization not only meets the immediate housing needs but also enhances the quality of life for its residents. This initiative fosters independence and dignity among elderly and handicapped individuals, allowing them to maintain a sense of autonomy while living in a supportive community. The impact of this housing solution extends beyond mere shelter; it helps alleviate financial burdens and contributes to the overall well-being of its tenants.
This information is meant to be a general summary of Appalachian Homes For Elderly 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: $11
- Program Service Revenue: $142,839
- Gross Receipts: $169,937
Assets and Liabilities:
- Total Assets: $1,175,447
- Total Liabilities: $2,106,588
- Net Assets: -$931,141
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$142,839
Organization Details
Founding Year
1997
Phone
(423) 586-1494Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 378161218
NTEE Category
Code: L22 - Housing
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