Overview
What is Faith Housing New Hope Apartments?
Faith Housing New Hope Apartments is a not-for-profit organization established in accordance with California's nonprofit laws. Situated in Los Angeles, it operates a 25-unit project specifically designed for individuals who are either homeless or at risk of becoming homeless, and are affected by HIV/AIDS. The organization receives funding through Section 811 of the National Housing Act, enabling it to provide housing assistance to its target demographic. The primary mission of Faith Housing New Hope Apartments is to offer a safe and supportive living environment for these individuals, aiming to improve their overall well-being.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (68%)
Faith Housing New Hope Apartments has received a two-star rating, indicating areas that require attention. The organization demonstrates strong governance with a fully independent board and effective oversight in key areas, such as material diversion of assets and board meeting documentation. The program expense ratio is notably high at 89.26%, suggesting that a significant portion of its resources directly supports its mission.
However, the organization faces challenges, particularly reflected in its liabilities to assets ratio, which stands at 195.13%. This raises concerns about its financial health and sustainability. Additionally, there are gaps in essential policies, including a missing conflict of interest policy and documentation related to retention and destruction processes, which could affect overall operational transparency and accountability.
While Faith Housing New Hope Apartments shows strengths in governance and program funding, its financial management and policy completeness warrant improvement to enhance its effectiveness and trustworthiness in serving the community.
This AI summary has been generated from information found on Charity Navigator.
Is Faith Housing New Hope Apartments legitimate?
Faith Housing New Hope Apartments is a legitimate nonprofit organization registered as a 501(c)(3) entity. Faith Housing New Hope Apartments 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
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What is the mission statement of Faith Housing New Hope Apartments?
Faith Housing New Hope Apartments is a non-profit organization, established in compliance with California's non-profit statutes. Its primary objective is to operate a 25-unit housing project, situated in an unspecified location. This project is designed to provide shelter for individuals who are currently homeless or at risk of becoming homeless, and who are also living with HIV/AIDS. The organization receives financial assistance for this project through Section 811 of the National Housing Act. In essence, Faith Housing New Hope Apartments aims to offer a safe and supportive living environment for those in need, particularly those affected by HIV/AIDS.
What is the revenue of Faith Housing New Hope Apartments?
Faith Housing New Hope Apartments's revenue in 2024 was $357,141.
Who are the executives of Faith Housing New Hope Apartments and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Faith Housing New Hope Apartments?
Faith Housing New Hope Apartments's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Faith Housing New Hope Apartments
Faith Housing New Hope Apartments is a not-for-profit corporation, established in compliance with California's not-for-profit statutes. Its primary mission is to provide housing for individuals who are either currently homeless or on the brink of homelessness, and who are also living with HIV/AIDS. To accomplish this, the corporation operates a 25-unit project, funded in part by Section 811 of the National Housing Act. This act provides financial assistance to support the housing needs of vulnerable populations, enabling Faith Housing New Hope Apartments to provide a safe and supportive living environment for its residents. By offering housing assistance, Faith Housing New Hope Apartments is committed to improving the quality of life for those affected by HIV/AIDS, providing them with a stable foundation as they work towards overcoming their challenges.
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Impact
July, 2024
Faith Housing New Hope Apartments provides crucial housing support for individuals who are homeless or at risk of homelessness and are living with HIV/AIDS in Los Angeles, California. By operating a 25-unit project and receiving housing assistance payments under Section 811 of the National Housing Act, the organization offers a safe and stable living environment for vulnerable populations. The impact of Faith Housing New Hope Apartments extends beyond providing physical shelter; it also plays a significant role in addressing the broader issues of homelessness and HIV/AIDS in the community, offering hope and support to those in need.
This information is meant to be a general summary of Faith Housing New Hope Apartments. 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 2024.
- Investment Income: $396
- Program Service Revenue: $75,449
- Gross Receipts: $357,141
Assets and Liabilities:
- Total Assets: $2,958,394
- Total Liabilities: $5,483,125
- Net Assets: -$2,524,731
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$75,449
Organization Details
Founding Year
2000
Principal Officer
Brigitte Tweddell
NTEE Category
Code: L21 - Housing
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