Overview
What is Touchette Elderly Apartments I Inc?
Touchette Elderly Apartments I Inc is a nonprofit organization situated in Chicago, Illinois. Their primary focus is on offering affordable housing to senior citizens, ensuring they can live in a comfortable and secure environment. This is achieved through their retirement communities and senior affordable housing programs. The organization's mission is to cater to the housing needs of the elderly population, providing them with a sense of security and peace of mind.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Stars
Touchette Elderly Apartments I Inc has received a Three-Star rating from Charity Navigator, reflecting a solid overall score of 79%. This rating is solely derived from the organization's performance in Accountability & Finance, indicating a strong commitment to responsible management of its resources. The evaluation highlights the nonprofit's transparency and adherence to ethical practices, which are essential for donor trust.
The organization boasts a majority of independent board members, which is a positive indicator of governance. With independent members composing 57% of the board, Touchette Elderly Apartments demonstrates a commitment to impartial oversight. Additionally, they have a thorough audit and oversight committee, and there are no issues with asset diversion, showcasing effective financial management.
On the financial front, Touchette Elderly Apartments I Inc has achieved a program expense ratio of 87.21%, meaning a substantial portion of its expenditures directly supports its mission. While the overall score is commendable, the focus on a single beacon score limits the comprehensive assessment of the organization's impact and effectiveness beyond financial metrics.
This AI summary has been generated from information found on Charity Navigator.
Is Touchette Elderly Apartments I Inc legitimate?
Touchette Elderly Apartments I Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Touchette Elderly Apartments I 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: $166,917
For more financial information, click here
What is the mission statement of Touchette Elderly Apartments I Inc?
Touchette Elderly Apartments I Inc is dedicated to providing senior citizens with affordable housing options. Through its retirement communities and senior affordable housing programs, the organization strives to offer a comfortable and secure living environment for its residents. By fulfilling this mission, Touchette Elderly Apartments aims to contribute positively to the lives of elderly individuals, ensuring they can maintain their quality of life with financial stability. The organization's focus on affordable housing allows seniors to age with dignity and independence, providing them with a sense of security and community.
Who is the CEO of Touchette Elderly Apartments I Inc?
Richard Gonzalez is the Director of Touchette Elderly Apartments I Inc.
What is the revenue of Touchette Elderly Apartments I Inc?
Touchette Elderly Apartments I Inc's revenue in 2022 was $963,452.
Who are the executives of Touchette Elderly Apartments I Inc and what are their salaries?
The average compensation at Touchette Elderly Apartments I Inc during 2022 was $33,383. There are 5 employees at Touchette Elderly Apartments I Inc.
Here are 7 key members and their salaries:
- Compensation: $69,215
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Touchette Elderly Apartments I Inc?
Touchette Elderly Apartments I Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Touchette Elderly Apartments I Inc
Touchette Elderly Apartments I Inc is committed to providing senior citizens with affordable housing. This nonprofit organization fulfills its mission by offering retirement communities and senior affordable housing programs. By doing so, Touchette Elderly Apartments aims to create a comfortable and secure living environment for the elderly, ensuring they can age with dignity and independence. The organization's mission is centered around the belief that every senior deserves a place to call home, regardless of their financial situation. Touchette Elderly Apartments I Inc strives to make a positive impact in the lives of its residents by providing them with an affordable and supportive living arrangement.
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Impact
October, 2024
Touchette Elderly Apartments I Inc plays a crucial role in enhancing the quality of life for senior citizens by offering affordable housing options. By providing retirement communities and senior affordable housing programs, they create a comfortable and secure living environment tailored to the needs of older adults. This initiative not only addresses the pressing issue of housing affordability but also fosters a sense of community among residents, promoting social interaction and support networks. Located in Chicago, IL, Touchette Elderly Apartments significantly contributes to the well-being of seniors, ensuring they have access to safe and affordable living arrangements that enhance their independence and dignity.
This information is meant to be a general summary of Touchette Elderly Apartments I 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: $508
- Program Service Revenue: $959,985
- Gross Receipts: $963,452
Assets and Liabilities:
- Total Assets: $3,437,225
- Total Liabilities: $5,942,311
- Net Assets: -$2,505,086
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$959,985
Organization Details
Founding Year
2003
Principal Officer
Richard Gonzalez
Main Address
8 SOUTH MICHIGAN AVENUE SUITE 3100, CHICAGO, IL, 60603
NTEE Category
Code: P75 - Human services
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