Overview
What is Colony Lane Non-Profit Housing Corporation?
Colony Lane Non-Profit Housing Corporation is a Michigan-based nonprofit organization, established in December 2011 by Cooperative Services, Inc, another nonprofit entity. The main purpose of Colony Lane is to provide affordable housing for low-income senior citizens. They achieved this goal by acquiring property in Pontiac, Michigan, and constructing an apartment project containing 77 units. In cooperation with the U.S. Department of Housing and Urban Development, Colony Lane continues to operate this housing facility, aiming to provide a suitable living environment for this specific demographic.
Official website here: www.csi.coop
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Colony Lane Non-Profit Housing Corporation has earned a strong Four-Star rating from Charity Navigator, reflecting its high accountability and financial health. The charity's score is primarily derived from its perfect accountability rating, showcasing a commitment to transparency and adherence to best practices in financial management. This high score indicates that the organization operates with a strong sense of responsibility towards its donors and stakeholders.
The organization is noted for having a completely independent board, which enhances its governance and decision-making processes. Additionally, Colony Lane maintains rigorous protocols, including a comprehensive conflict of interest policy, a whistleblower policy, and effective asset management, all contributing to its commendable transparency. With an impressive program expense ratio of 85.01%, the majority of its funds are dedicated to fulfilling its mission rather than administrative costs.
While the data does not highlight any significant limitations, it reinforces the nonprofit's dedication to accountability and effective use of resources. The organization appears to be well-structured, with robust oversight mechanisms that support its mission of providing non-profit housing solutions.
This AI summary has been generated from information found on Charity Navigator.
Is Colony Lane Non-Profit Housing Corporation legitimate?
Colony Lane Non-Profit Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Colony Lane Non-Profit Housing Corporation 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
Official website here: www.csi.coop
What is the mission statement of Colony Lane Non-Profit Housing Corporation?
The Colony Lane Non-Profit Housing Corporation is committed to providing housing facilities for low-income senior citizens. This Michigan-based non-profit organization, established in cooperation with the US Department of Housing and Urban Development, aims to create a living space for elderly individuals with limited financial resources. By constructing and operating an apartment project, the corporation offers a place of residence that caters to the needs of this specific demographic.
Official website here: www.csi.coop
Who is the CEO of Colony Lane Non-Profit Housing Corporation?
Cindy Lamb is the President of Colony Lane Non-Profit Housing Corporation.
Official website here: www.csi.coop
What is the revenue of Colony Lane Non-Profit Housing Corporation?
Colony Lane Non-Profit Housing Corporation's revenue in 2022 was $794,633.
Official website here: www.csi.coop
Who are the executives of Colony Lane Non-Profit Housing Corporation and what are their salaries?
There 23 volunteers at Colony Lane Non-Profit Housing Corporation.
Here are 19 key members and their salaries:
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- Related: $182,532
- Other: $32,442
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- Other: $63,472
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- Related: $153,401
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- Related: $162,992
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- Related: $175,150
- Other: $45,954
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- Related: $182,210
- Other: $47,091
- Compensation: $0
- Related: $177,736
- Other: $54,448
Official website here: www.csi.coop
Where can I find the form 990 for Colony Lane Non-Profit Housing Corporation?
Colony Lane Non-Profit Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.csi.coop
Learn more at the official website: www.csi.coop
Mission Statement of Colony Lane Non-Profit Housing Corporation
Colony Lane Non-Profit Housing Corporation is a Michigan-based organization with a mission to provide housing facilities for low-income senior citizens. Established in collaboration with Cooperative Services, Inc., a Michigan non-profit cooperative, and the U.S. Department of Housing and Urban Development, this corporation aims to offer a secure living space for elderly individuals who fall under the category of low-income earners. The corporation's primary objective is to acquire and construct apartment projects, subsequently operating them to provide suitable housing for this specific demographic. By doing so, Colony Lane Non-Profit Housing Corporation contributes to the well-being and comfort of senior citizens, ensuring they have access to safe and affordable housing.
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Impact
October, 2024
Colony Lane Non-Profit Housing Corporation has made a significant impact by providing essential housing facilities for low-income senior citizens in Pontiac, Michigan. By constructing and operating an apartment complex with 77 units, it addresses the critical need for affordable housing among vulnerable populations. This initiative not only ensures that seniors have access to safe and stable living environments but also fosters a sense of community among residents, enhancing their quality of life.
The partnership with the U.S. Department of Housing and Urban Development underscores the commitment to affordable housing solutions, further amplifying the corporation's efforts to alleviate housing insecurity for seniors. By focusing on this demographic, Colony Lane plays a crucial role in improving social equity and providing an essential support system for low-income seniors, enabling them to live with dignity and independence.
This information is meant to be a general summary of Colony Lane Non-Profit Housing Corporation. 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: $1,958
- Program Service Revenue: $262,217
- Gross Receipts: $794,633
Assets and Liabilities:
- Total Assets: $8,904,253
- Total Liabilities: $236,478
- Net Assets: $8,667,775
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$262,217
Organization Details
Founding Year
2011
Phone
(586) 753-9002Principal Officer
Cindy Lamb
Main Address
8425 E TWELVE MILE ROAD, WARREN, MI, 48093
Website
www.csi.coopNTEE Category
Code: L21 - Housing
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