Overview
What is Bethesda Corporation?
Bethesda Corporation is a not-for-profit organization established in accordance with Indiana's not-for-profit laws. The primary purpose of this organization is to manage a 101-unit apartment project, named Juliet A. Peddle Park, specifically designed for the elderly, handicapped, and low-income individuals in Terre Haute, Indiana. This project is funded through a mortgage insured by the Department of Housing and Urban Development (HUD), under Section 202 of the National Housing Act. As a result, the project is subject to HUD's regulations regarding rental charges and operating methods. The mission of Bethesda Corporation is to provide suitable housing and support for this targeted demographic, ensuring they have access to a comfortable living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning a Two-Star out of Four Star rating.
Bethesda Corporation has received a Two-Star rating from Charity Navigator, indicating that while the organization demonstrates some strengths in financial accountability, it also faces significant challenges. The organization excels in having a fully independent board and a strong program expense ratio, allocating a substantial 88.56% of its expenses directly to programs. This suggests a commitment to effectively utilizing funds for its mission.
However, there are notable limitations affecting its overall rating. The organization has a high liabilities to assets ratio, which raises concerns about its financial health. Additionally, critical policies such as the conflict of interest policy, whistleblower policy, and document retention policy are currently missing, indicating gaps in governance and transparency that could impact stakeholders' trust.
Overall, while Bethesda Corporation shows strengths in certain areas of financial and operational accountability, the absence of essential governance policies and its financial liabilities highlight areas that require improvement to enhance its rating and organizational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Bethesda Corporation legitimate?
Bethesda Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bethesda 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
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What is the mission statement of Bethesda Corporation?
Bethesda Corporation, a not-for-profit entity, was formed with the objective of managing an elderly housing project in Indiana. Specifically, the project, named Juliet A. Peddle Park, caters to the elderly, handicapped, and low-income individuals. The project is funded through a mortgage insured by the Department of Housing and Urban Development (HUD) under Section 202 of the National Housing Act. Consequently, HUD regulates the rental charges and operational methods of the project. In essence, Bethesda Corporation's mission is to provide suitable housing for this specific demographic, ensuring compliance with HUD regulations.
Who is the CEO of Bethesda Corporation?
Gerry Varner is the President of Bethesda Corporation.
What is the revenue of Bethesda Corporation?
Bethesda Corporation's revenue in 2022 was $1,002,109.
Who are the executives of Bethesda Corporation and what are their salaries?
Here are 3 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Bethesda Corporation?
Bethesda Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bethesda Corporation
Bethesda Corporation, a not-for-profit organization established in accordance with Indiana's not-for-profit statutes, was formed with a purpose to manage a 101-unit apartment project. This project, known as Juliet A. Peddle Park, is specifically designed for the elderly, handicapped, and low-income individuals. The project is financed with a mortgage insured by the Department of Housing and Urban Development (HUD), in compliance with Section 202 of the National Housing Act. As a result, HUD regulates the rental charges and operating methods of this project for Bethesda Corporation. The mission of Bethesda Corporation, therefore, revolves around providing safe and affordable housing for those in need, adhering to the guidelines set by HUD.
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Impact
October, 2024
Bethesda Corporation significantly impacts the community by providing affordable housing solutions for elderly, handicapped, and low-income individuals in Terre Haute, Indiana. Through the operation of the Juliet A. Peddle Park, a 101-unit apartment complex, the organization addresses the critical need for accessible and supportive living environments for vulnerable populations.
By financing the project with a mortgage insured by the Department of Housing and Urban Development (HUD), Bethesda Corporation ensures that the housing is not only affordable but also adheres to regulatory standards that protect residents’ rights and maintain quality living conditions. The focus on elderly and handicapped individuals reflects a commitment to enhancing their quality of life, promoting independence, and fostering a sense of community.
Through these efforts, Bethesda Corporation plays a vital role in mitigating homelessness and housing insecurity, contributing to the overall well-being of its residents and the broader community. Its mission aligns with crucial social initiatives aimed at improving living conditions for those who are often overlooked, thereby strengthening the social fabric of Terre Haute.
This information is meant to be a general summary of Bethesda 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: $297
- Program Service Revenue: $409,794
- Gross Receipts: $1,002,109
Assets and Liabilities:
- Total Assets: $2,639,003
- Total Liabilities: $2,817,160
- Net Assets: -$178,157
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$409,794
Organization Details
Founding Year
1977
Phone
(812) 232-5083Principal Officer
Gerry Varner
Main Address
711 OHIO STREET, TERRE HAUTE, IN, 47807
NTEE Category
Code: L210 - Housing
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