Overview
What is Alexia Manor Housing Corporation?
Alexia Manor Housing Corporation is a nonprofit organization situated in Cleveland, Ohio, specifically at 5125 Hector Avenue, 44127. Their primary mission is to offer subsidized housing to low-income senior citizens. The corporation operates a 50-unit apartment complex, regulated by the U.S. Department of Housing and Urban Development (HUD), which monitors their rent charges and operational methods under Section 202 of the National Housing Act. The corporation's aim is to provide a comfortable living environment for senior citizens with limited financial resources.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Stars)
Alexia Manor Housing Corporation has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and transparency in its operations. The organization exhibits strong governance with a fully independent board, scoring 8 out of 8 points for majority independent board members and 7 out of 7 for independent board size. Additionally, it maintains excellent financial oversight, with a perfect score for its financial statements audit.
One of the strengths of the organization is its high program expense ratio of 81.72%, reflecting a significant portion of resources directed towards its mission-related activities. This is a positive indicator for potential donors, suggesting that funds are being utilized effectively to support the organization's objectives. Moreover, the organization demonstrates good practices by documenting board meeting minutes, which enhances transparency.
However, a critical area for improvement is the liabilities to assets ratio, which stands at 201.08%, indicating potential financial instability. This high ratio raises concerns regarding the organization's financial health and sustainability. While the organization has several commendable practices in place, addressing its financial liabilities will be essential for long-term viability and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Alexia Manor Housing Corporation legitimate?
Alexia Manor Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Alexia Manor 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: $67,320
For more financial information, click here
What is the mission statement of Alexia Manor Housing Corporation?
The Alexia Manor Housing Corporation's primary mission is to offer subsidized housing for low-income senior citizens. This mission is carried out through the operation of a 50-unit apartment complex, which falls under Section 202 of the National Housing Act. The corporation's operations are regulated by the Department of Housing and Urban Development (HUD) in terms of rental charges and operational methods. This regulatory framework ensures that affordable housing remains accessible to its intended demographic.
Who is the CEO of Alexia Manor Housing Corporation?
James T Guzowski is the President/Treasurer of Alexia Manor Housing Corporation.
What is the revenue of Alexia Manor Housing Corporation?
Alexia Manor Housing Corporation's revenue in 2022 was $530,509.
Who are the executives of Alexia Manor Housing Corporation and what are their salaries?
There 11 volunteers at Alexia Manor Housing Corporation.
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Where can I find the form 990 for Alexia Manor Housing Corporation?
Alexia Manor Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Alexia Manor Housing Corporation
Alexia Manor Housing Corporation is dedicated to providing affordable housing solutions for low-income senior citizens. This nonprofit organization's mission is centered around offering subsidized housing, ensuring that elderly individuals with limited financial means can still reside in a secure and comfortable environment. To achieve this, Alexia Manor Housing Corporation operates a 50-unit apartment complex under Section 202 of the National Housing Act. The project is regulated by the HUD, overseeing both the rent charges and the operational methods, ensuring that the housing remains affordable and sustainable for the intended population.
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Impact
July, 2024
Alexia Manor Housing Corporation's impact lies in providing vital subsidized housing to low-income senior citizens in Cleveland, Ohio. Through its operation of a 50-unit apartment complex under Section 202 of the National Housing Act, the corporation ensures that elderly individuals have access to affordable housing that is regulated by HUD for rent charges and operating methods. By fulfilling its mission to provide subsidized housing to this vulnerable population, Alexia Manor Housing Corporation plays a crucial role in supporting the well-being and quality of life for low-income seniors in the community.
This information is meant to be a general summary of Alexia Manor 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: $612
- Program Service Revenue: $500,721
- Gross Receipts: $530,509
Assets and Liabilities:
- Total Assets: $1,703,292
- Total Liabilities: $3,361,617
- Net Assets: -$1,658,325
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$497,001
LAUNDRY AND VENDING
Revenue
$2,590
TENANT CHARGES
Revenue
$1,130
Organization Details
Founding Year
1995
Phone
(216) 883-4871Principal Officer
James T Guzowski
Main Address
5125 HECTOR AVENUE, CLEVELAND, OH, 44127
NTEE Category
Code: L22 - Housing
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