Overview
What is Horizon Homes For Elderly Inc?
Horizon Homes For Elderly Inc, located in Morristown, Tennessee, is a nonprofit organization dedicated to providing affordable housing for low-income elderly and disabled individuals. Regulated by HUD, the organization operates under Section 202 of the National Housing Act, ensuring reasonable rental rates and operational methods. With a total of 19 rental units in a complex, Horizon Homes For Elderly Inc aims to offer a safe and comfortable living environment for its tenants. Their mission is to enhance the lives of elderly or handicapped individuals by offering them a place to call home.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars, Needs Improvement, Overall Score: 72%
Horizon Homes For Elderly Inc has received a "Needs Improvement" rating from Charity Navigator, reflecting a decent overall score of 72%. The organization demonstrates strengths in governance and financial accountability, boasting 100% independent board members and a strong program expense ratio of 84.47%. These factors indicate that the majority of their expenditures are directed towards program services, which is a positive aspect for stakeholders.
However, the organization faces challenges, particularly highlighted by a liabilities to assets ratio of 165.29%, which suggests potential financial strain. While their policies on conflict of interest and document retention are well-established and compliant, the concerning liabilities could impact their long-term sustainability and effectiveness in serving the elderly community.
Overall, while Horizon Homes For Elderly Inc has solid governance and program investment metrics, the financial ratios present areas for improvement. Stakeholders should consider these factors when evaluating the organization’s capacity to fulfill its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Horizon Homes For Elderly Inc legitimate?
Horizon Homes For Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Horizon 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 Horizon Homes For Elderly Inc?
Horizon Homes For Elderly Inc is committed to providing housing solutions for low-income elderly and handicapped individuals. This commitment is in line with Section 202 of the National Housing Act. The organization's mission is to offer housing facilities that cater to this specific demographic, ensuring they have a secure and suitable living environment. The housing complex, regulated by the HUD, maintains reasonable rent charges and operational methods, currently providing accommodation for 19 tenants.
Who is the CEO of Horizon Homes For Elderly Inc?
Kay Hale is the President of Horizon Homes For Elderly Inc.
What is the revenue of Horizon Homes For Elderly Inc?
Horizon Homes For Elderly Inc's revenue in 2022 was $103,717.
Who are the executives of Horizon 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 Horizon Homes For Elderly Inc?
Horizon Homes For Elderly Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Horizon Homes For Elderly Inc
Horizon Homes for Elderly Inc is dedicated to providing housing for individuals who are elderly or handicapped and fall under the low-income bracket. This nonprofit organization operates in accordance with Section 202 of the National Housing Act, ensuring that it adheres to specific regulations regarding rent charges and operating methods, overseen by the HUD. With a focus on affordable housing, Horizon Homes for Elderly Inc manages a complex of 19 rental units, offering shelter and a sense of community to its tenants. By providing this essential service, the organization contributes to the well-being of its elderly and handicapped residents, enabling them to maintain their independence and dignity within a supportive living environment.
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Impact
October, 2024
Horizon Homes For Elderly Inc significantly impacts the community by providing essential low-income housing options for elderly and handicapped individuals. By offering 19 rental units in Morristown, TN, the organization ensures that vulnerable populations have safe and affordable living accommodations. This support is particularly crucial for those who may struggle with higher living costs or have limited income due to retirement or disabilities.
Regulated by HUD, Horizon Homes operates under guidelines that prioritize fair rent charges and ethical management practices, enhancing the quality of life for its tenants. The focus on meeting the specific needs of elderly and handicapped individuals fosters a supportive community atmosphere, where residents can thrive with dignity and security. Ultimately, the organization's efforts help to alleviate financial burdens, promote independence, and improve the overall well-being of its residents.
This information is meant to be a general summary of Horizon 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 2022.
- Investment Income: $13
- Program Service Revenue: $78,616
- Gross Receipts: $103,717
Assets and Liabilities:
- Total Assets: $694,474
- Total Liabilities: $1,082,489
- Net Assets: -$388,015
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$78,061
LAUNDRY & VENDING INCO
Revenue
$555
Organization Details
Phone
(423) 586-1494Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 37814
NTEE Category
Code: L20 - Housing
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