Overview
What is Lima Ecumenical Housing Corp?
Lima Ecumenical Housing Corp, established in 1978, is a not-for-profit organization based in Lima, Ohio. Its primary mission is to operate the Pilgrim Place Apartments, a 51-unit high-rise complex, providing affordable housing and related services for elderly individuals with low to very low incomes. The organization obtains financial assistance through Housing Assistance Payments and a mortgage guaranteed by the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning a Two-Star out of Four Star rating. This rating indicates that while Lima Ecumenical Housing Corp demonstrates some strengths in its operations, there are significant areas that require improvement. The accountability and finance score of 67 reflects a mixed level of transparency and fiscal responsibility.
The organization benefits from a fully independent board and has a strong program expense ratio of 90.36%, meaning a large portion of its expenditures is dedicated to its programs rather than administrative costs. Additionally, it has successfully avoided any material diversion of assets and adheres to practices like documenting board meeting minutes. However, there are notable weaknesses in its governance, particularly the absence of a conflict of interest policy, whistleblower policy, and document retention and destruction policy.
Furthermore, the liabilities to assets ratio of 124.91% raises concerns about the organization's financial sustainability, indicating that its liabilities exceed its assets. The lack of critical financial documents on its website further diminishes confidence in its transparency. Overall, while Lima Ecumenical Housing Corp has strong programmatic spending and governance practices, addressing its financial and policy deficiencies is essential for improving its operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Lima Ecumenical Housing Corp legitimate?
Lima Ecumenical Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lima Ecumenical Housing Corp 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
What is the mission statement of Lima Ecumenical Housing Corp?
Lima Ecumenical Housing Corp is a not-for-profit organization established in 1978, dedicated to providing housing and related services for elderly individuals with low and very low incomes. The corporation operates a 51-unit high-rise apartment complex named Pilgrim Place Apartments. They receive funding through Housing Assistance Payments and a mortgage insured by the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act. The primary mission of Lima Ecumenical Housing Corp is to facilitate comfortable and secure living arrangements for this specific demographic, ensuring they can maintain their independence and dignity.
Who is the CEO of Lima Ecumenical Housing Corp?
Bonnie Shook is the President of Lima Ecumenical Housing Corp.
What is the revenue of Lima Ecumenical Housing Corp?
Lima Ecumenical Housing Corp's revenue in 2022 was $493,325.
Who are the executives of Lima Ecumenical Housing Corp and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Lima Ecumenical Housing Corp?
Lima Ecumenical Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lima Ecumenical Housing Corp
Lima Ecumenical Housing Corp, established in 1978, is a not-for-profit organization with a mission to serve the housing needs of elderly individuals with low to very low incomes. The corporation operates a 51-unit high-rise apartment complex named Pilgrim Place Apartments, located in Lima, Ohio. This organization's primary purpose is to provide housing and related services to the residents of this complex. Lima Ecumenical Housing Corp receives financial assistance in the form of housing payments and a mortgage, both of which are insured by the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act. The corporation's mission is to ensure that elderly individuals have access to affordable and secure housing, thereby enhancing their quality of life.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Lima Ecumenical Housing Corp provides essential housing and related services to very low and low-income elderly persons in Lima, Ohio, through its operation of Pilgrim Place Apartments, a 51-unit high-rise apartment complex. This organization's impact can be seen in its provision of affordable housing options for a vulnerable population, ensuring that these individuals have a safe and stable place to call home. Additionally, by receiving housing assistance payments and a mortgage insured by the U.S. Department of Housing and Urban Development, Lima Ecumenical Housing Corp contributes to addressing housing insecurity and improving the quality of life for elderly residents in need.
This information is meant to be a general summary of Lima Ecumenical Housing Corp. 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: $174
- Program Service Revenue: $200,389
- Gross Receipts: $493,325
Assets and Liabilities:
- Total Assets: $746,130
- Total Liabilities: $1,056,409
- Net Assets: -$310,279
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$200,389
Organization Details
Founding Year
1978
Phone
(419) 227-6802Principal Officer
Bonnie Shook
Main Address
449 SOUTH MAIN STREET, LIMA, OH, 45804
NTEE Category
Code: L22Z - Housing
If you are a representative of Lima Ecumenical Housing Corp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.