Overview
What is Our Lady Of Angels Apartments Inc?
Our Lady of Angels Apartments Inc is a nonprofit organization situated in Cleveland, Ohio, specifically at 3648 Rocky River Drive. Their primary mission is to offer affordable housing for elderly individuals with limited income. In the past, they held a secured interest in a low-income housing building, which they later sold to fund a substantial renovation of the property and its units. This move demonstrates their commitment to maintaining and improving living conditions for their residents. In summary, Our Lady of Angels Apartments Inc is dedicated to providing a safe and comfortable living environment for the elderly community in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Star Rating)
Our Lady Of Angels Apartments Inc has earned a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. This score reflects the organization’s commitment to operational transparency and prudent financial management, with a notable 92.68% program expense ratio, meaning a significant portion of its expenditures directly support its charitable mission.
The organization demonstrates strong governance, as evidenced by having an entirely independent board composed of seven members. This independence, combined with a robust conflict of interest policy, suggests a commitment to ethical leadership and decision-making processes. Additionally, the absence of material diversion of assets and a favorable liabilities to assets ratio further reinforce financial stability.
While the rating is commendable, it is important for potential donors and stakeholders to recognize that the score is based solely on financial metrics. There may be other qualitative factors or programmatic outcomes that are not captured in this rating. Overall, Our Lady Of Angels Apartments Inc shows a reliable commitment to managing its resources effectively, making it a trustworthy choice for support.
This AI summary has been generated from information found on Charity Navigator.
Is Our Lady Of Angels Apartments Inc legitimate?
Our Lady Of Angels Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Our Lady Of Angels Apartments 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $19,036
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What is the mission statement of Our Lady Of Angels Apartments Inc?
Our Lady of Angels Apartments Inc is committed to serving the housing needs of low-income elderly individuals. The organization's primary mission is to provide suitable living accommodations for this demographic, ensuring they have access to a secure and comfortable environment. To accomplish this, Our Lady of Angels Apartments Inc holds a secured interest in a housing building, subsequently selling it to facilitate a substantial renovation of the property and its units. This commitment to renovation and improvement ensures that the living conditions for the elderly residents remain optimal.
Who is the CEO of Our Lady Of Angels Apartments Inc?
Donald Macbride is the President of Our Lady Of Angels Apartments Inc.
What is the revenue of Our Lady Of Angels Apartments Inc?
Our Lady Of Angels Apartments Inc's revenue in 2023 was $1,634,305.
Who are the executives of Our Lady Of Angels Apartments Inc and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for Our Lady Of Angels Apartments Inc?
Our Lady Of Angels Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Our Lady Of Angels Apartments Inc
Our Lady of Angels Apartments Inc is committed to providing housing for individuals who fall within the low-income elderly bracket. This nonprofit organization holds a significant interest in a housing building, which it has sold to facilitate a substantial renovation of the building and its units. By doing so, Our Lady of Angels Apartments Inc demonstrates its dedication to improving the living conditions of its target demographic, ensuring they have access to decent and suitable housing.
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Impact
October, 2024
Our Lady Of Angels Apartments Inc plays a significant role in addressing the housing needs of low-income elderly individuals in Cleveland, Ohio. By holding a secured interest in a low-income housing building, the organization ensures that vulnerable seniors have access to quality living conditions. The recent sale and planned substantial rehabilitation of the building and its units demonstrate a commitment to improving the overall quality of life for residents.
The impact of their work extends beyond just providing shelter; it fosters a sense of community and stability for elderly individuals who often face challenges such as isolation and financial insecurity. By focusing on this demographic, Our Lady Of Angels Apartments Inc not only meets immediate housing needs but also contributes to the long-term well-being of the elderly population in Cleveland. Their efforts help to create a more inclusive and supportive environment for those in need.
This information is meant to be a general summary of Our Lady Of Angels Apartments 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 2023.
- Investment Income: $980,080
- Program Service Revenue: $654,225
- Gross Receipts: $1,634,305
Assets and Liabilities:
- Total Assets: $14,093,355
- Total Liabilities: $0
- Net Assets: $14,093,355
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Developer fee revenue
Revenue
$654,225
Organization Details
Founding Year
1980
Principal Officer
Donald Macbride
Main Address
3648 Rocky River Drive, Cleveland, OH, 441113934
NTEE Category
Code: L22 - Housing
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