Overview
What is Marathon Cooperative La?
Marathon Cooperative La is a nonprofit organization situated in Orange, California. Established as a limited-equity housing cooperative, it operates as a public benefit corporation and owns 66 low-income residential units in Los Angeles. The primary mission of this cooperative is to provide affordable housing to the Los Angeles community, aiming to alleviate the burden on government and promote social welfare. By rehabilitating existing buildings and constructing new facilities, Marathon Cooperative La strives to combat community deterioration and contribute to its physical improvement, ultimately enabling low-income individuals and families to secure decent and safe shelter.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Star rating)
Marathon Cooperative LA has received a Two-Star rating, indicating that while it maintains some strong practices, there are notable areas for improvement. The organization has a high score for both accountability and finance, particularly excelling in its independent board composition with 100% independence. The program expense ratio is also commendable at 85.68%, suggesting that the majority of its expenses are directed towards its programs.
However, the nonprofit faces significant limitations regarding transparency and governance practices. Key documents such as financial statements, tax forms, and several essential policies (including conflict of interest and whistleblower policies) are missing. This lack of documentation detracts from its overall accountability rating and raises concerns about the organization’s governance practices.
While the organization shows promise in some areas, its transparency and commitment to best practices are under scrutiny. Addressing the highlighted deficiencies could enhance its rating and foster greater trust among stakeholders and the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Marathon Cooperative La legitimate?
Marathon Cooperative La is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marathon Cooperative La 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:
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What is the mission statement of Marathon Cooperative La?
Marathon Cooperative's mission is centered around expanding housing opportunities for individuals and communities in need. By constructing, rehabilitating, and providing decent, safe, and sanitary housing, they aim to help those who are poor, distressed, underprivileged, and indigent secure a basic human need: decent shelter. This, in turn, lessens the burdens on government and promotes social welfare. Additionally, Marathon Cooperative focuses on revitalizing blighted structures and vacant sites, contributing to the physical improvement of the community. Their efforts combat the deterioration of the area and provide suitable housing for those who may not otherwise be able to afford it.
Who is the CEO of Marathon Cooperative La?
Conchita Cabaleiro is the President of Marathon Cooperative La.
What is the revenue of Marathon Cooperative La?
Marathon Cooperative La's revenue in 2022 was $787,397.
Who are the executives of Marathon Cooperative La and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Marathon Cooperative La?
Marathon Cooperative La's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Marathon Cooperative La
Marathon Cooperative LA, as a nonprofit organization, is committed to providing low-income housing solutions to the community. Its primary mission is to extend the opportunities for Los Angeles residents and groups to secure adequate, low-cost housing accommodations. To accomplish this, Marathon Cooperative LA engages in various activities, such as constructing, rehabilitating, and providing decent, safe, and sanitary housing facilities. The organization aims to alleviate the burdens faced by the poor, distressed, underprivileged, and indigent individuals by enabling them to access basic human needs, including decent shelter. By doing so, Marathon Cooperative LA aims to lessen the financial burden on government and promote social welfare in the community. Furthermore, the organization combats the deterioration of the community and contributes to its physical improvement by rehabilitating existing substandard buildings and constructing new facilities on blighted sites or vacant lots. In this way, Marathon Cooperative LA plays a crucial role in addressing housing needs for individuals and families who otherwise would struggle to find or afford suitable living conditions.
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Impact
October, 2024
Marathon Cooperative LA significantly impacts the Los Angeles community by providing low-cost housing options for families and individuals who face economic challenges. By owning and managing 66 low-income residential units, the organization addresses critical housing needs for those who would otherwise struggle to find suitable accommodations.
The cooperative actively works to expand opportunities by constructing new housing and rehabilitating substandard buildings, thus contributing to the physical improvement of neighborhoods. This effort not only enhances the living conditions of residents but also combats community deterioration. As a result, the cooperative plays a vital role in alleviating the burdens placed on vulnerable populations, ensuring access to decent, safe, and sanitary housing. This mission promotes social welfare and helps relieve the distress experienced by underprivileged families in the area, directly improving their quality of life.
This information is meant to be a general summary of Marathon Cooperative La. 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: $938
- Program Service Revenue: $386,109
- Gross Receipts: $787,397
Assets and Liabilities:
- Total Assets: $3,749,000
- Total Liabilities: $1,137,349
- Net Assets: $2,611,651
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$386,109
Organization Details
Founding Year
1983
Phone
(714) 282-2520Principal Officer
Conchita Cabaleiro
Main Address
1507 W YALE AVENUE, ORANGE, CA, 92867
NTEE Category
Code: L21 - Housing
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