Overview
What is Paragon Homes For Elderly Inc?
Paragon Homes For Elderly Inc, operating under the name Lincoln Park Apartments, is a nonprofit organization situated in Morristown, Tennessee. Their primary mission is to provide affordable housing for elderly or handicapped individuals, adhering to Section 202 of the National Housing Act. Regulated by the HUD, they ensure reasonable rent charges and manage their operations efficiently. The organization manages a complex with 11 units, dedicated to fulfilling the housing needs of their low-income tenant base.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 72%
Paragon Homes For Elderly Inc holds a Two-Star out of Four Star rating with a score of 72%, indicating a moderate level of performance in the nonprofit sector. The organization demonstrates strong governance with a fully independent board and policies in place for conflict of interest, document retention, and meeting minutes. Their program expense ratio is commendable at 81.26%, suggesting a significant portion of their funds are directed towards their mission.
However, the organization faces challenges with its financial health, as evidenced by a liabilities to assets ratio of 169.72%, which signals potential financial instability. Additionally, there are gaps in compliance, such as missing tax form disclosures on their website and the absence of a whistleblower policy, which could affect transparency and accountability.
Overall, while Paragon Homes For Elderly Inc showcases strengths in governance and program spending, its financial indicators and compliance issues warrant attention for improvement in maintaining donor trust and operational sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Paragon Homes For Elderly Inc legitimate?
Paragon Homes For Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Paragon 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.
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 Paragon Homes For Elderly Inc?
Paragon Homes For Elderly Inc's mission is centered around providing housing for individuals who are elderly or handicapped and fall under the low-income bracket. This is achieved through adherence to Section 202 of the National Housing Act. The organization's primary goal is to offer suitable housing accommodations to these tenants, ensuring they live in a regulated environment managed by the HUD, with considerations given to rent charges and operational methods. The complex, housing 11 units, is dedicated to serving this specific demographic.
Who is the CEO of Paragon Homes For Elderly Inc?
Kay Hale is the President of Paragon Homes For Elderly Inc.
What is the revenue of Paragon Homes For Elderly Inc?
Paragon Homes For Elderly Inc's revenue in 2023 was $63,601.
Who are the executives of Paragon Homes For Elderly Inc and what are their salaries?
Here are 12 key members and their salaries:
- 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
- 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 Paragon Homes For Elderly Inc?
Paragon Homes For Elderly Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Paragon Homes For Elderly Inc
Paragon Homes for Elderly Inc, a nonprofit organization, is dedicated to providing housing for individuals who fall into the categories of both elderly and handicapped persons. This mission is in line with Section 202 of the National Housing Act, a legislative act aimed at addressing the housing needs of specific populations. The organization's primary goal is to offer suitable living spaces for low-income tenants who fall under this category. Regulated by the Department of Housing and Urban Development (HUD), Paragon Homes for Elderly Inc ensures that its rent charges and operating methods adhere to the guidelines set by this regulatory body. The organization currently manages 11 rental units, providing a home and a sense of stability for its tenants.
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
August, 2024
Paragon Homes For Elderly Inc provides vital housing for low-income elderly or handicapped individuals in Morristown, TN. Through its 11 rental units, the organization offers a safe and affordable living environment for those in need. By adhering to regulations set by HUD regarding rent charges and operating methods, Paragon Homes For Elderly Inc ensures that its tenants have access to quality housing that meets their specific requirements. This initiative directly contributes to enhancing the quality of life and well-being of elderly and handicapped individuals in the community.
This information is meant to be a general summary of Paragon 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: $5
- Program Service Revenue: $42,793
- Gross Receipts: $63,601
Assets and Liabilities:
- Total Assets: $354,026
- Total Liabilities: $600,865
- Net Assets: -$246,839
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.
TENANT RENT
Revenue
$42,077
TENANT CHARGES
Revenue
$716
Organization Details
Founding Year
1999
Phone
(423) 586-1494Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 378161218
NTEE Category
Code: L22 - Housing
If you are a representative of Paragon Homes For Elderly 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.