Overview
What is Maryvale Inc?
Maryvale Inc, a nonprofit established in accordance with Indiana's not-for-profit statutes, is committed to serving the elderly, handicapped, and low-income individuals. Located in St. Mary of the Woods, Indiana, the organization operates a 148-unit apartment project, financed by the Department of Housing and Urban Development (HUD) and regulated by them in terms of rental charges and operating methods. The project is further supported by a Housing Assistance Payment (HAP) contract with HUD, which provides rental assistance to low-income families or individuals under Section 8 of the National Housing Act. Maryvale Inc's mission is to offer a secure living environment for these individuals, thereby contributing to the well-being of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, Two-Star out of Four Star rating.
Maryvale Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The organization has demonstrated strengths in its governance, with 100% of its board members being independent, and it excels in program expense, allocating 84.62% of its budget directly to programs. However, financial stability concerns are highlighted by a significant liabilities to assets ratio of 179.00%, which signals potential risks in its financial management.
While Maryvale Inc shows strong practices in areas such as board governance and program spending, it faces limitations regarding transparency and policy documentation. The absence of key documents like its tax form, conflict of interest policy, and whistleblower policy raises questions about its operational transparency and adherence to best practices. Addressing these gaps could improve its overall rating and public trust.
Overall, while Maryvale Inc has commendable aspects in governance and program expenditure, the financial risks and documentation shortcomings could impact its effectiveness and perception among donors and stakeholders. Continued efforts to enhance transparency and financial stability will be crucial for the organization's success.
This AI summary has been generated from information found on Charity Navigator.
Is Maryvale Inc legitimate?
Maryvale Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Maryvale 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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What is the mission statement of Maryvale Inc?
Maryvale Inc, a not-for-profit organization, was established in accordance with the state of Indiana's not-for-profit statutes. Its primary purpose is to manage a 148-unit apartment project, catering to the elderly, handicapped, and low-income individuals. The project is financially backed by a mortgage insured by the Department of Housing and Urban Development (HUD) under Section 223(F) of the National Housing Act. HUD regulates the project's rental charges and operating methods due to this mortgage arrangement. Furthermore, Maryvale Inc has entered into a Housing Assistance Payment (HAP) contract with HUD, which is a rent assistance program for low-income families, as per Section 8 of the National Housing Act.
What is the revenue of Maryvale Inc?
Maryvale Inc's revenue in 2023 was $1,150,207.
Who are the executives of Maryvale 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 Maryvale Inc?
Maryvale Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Maryvale Inc
Maryvale Inc, established as a not-for-profit corporation in accordance with Indiana's statutes, was formed with the primary mission of managing a 148-unit apartment project. This project is specifically designed for the elderly, individuals with disabilities, and low-income individuals, situated in St. Mary of the Woods, Indiana. The project's financing is backed by a mortgage that is insured by the Department of Housing and Urban Development under Section 223(F) of the National Housing Act. Consequently, the project is subject to HUD's regulations in terms of rental charges and operating methods. Furthermore, Maryvale Inc has entered into a Housing Assistance Payment Contract with HUD, which serves as a rent assistance program for low-income families or individuals, as stipulated by Section 8 of the National Housing Act. In essence, Maryvale Inc is dedicated to providing affordable housing solutions for vulnerable populations, ensuring they live in a safe and supportive environment.
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Impact
October, 2024
Maryvale Inc has a significant impact on the community by providing stable housing and support for vulnerable populations, including the elderly, handicapped, and low-income individuals. Operating a 148-unit apartment project in St. Mary of the Woods, Indiana, it addresses critical housing needs by offering affordable living options that are regulated to ensure fairness and accessibility.
The organization utilizes financing backed by the Department of Housing and Urban Development (HUD), which not only secures the necessary resources for maintenance and operations but also ensures compliance with standards that protect residents. Through its Housing Assistance Payment (HAP) contract, Maryvale Inc facilitates rent assistance, allowing low-income families and individuals access to safe and affordable housing, which is often a stepping stone towards greater stability and improved quality of life.
Overall, Maryvale Inc plays a vital role in fostering a supportive living environment that empowers residents, enhances the community's well-being, and promotes inclusivity for those who might otherwise face housing insecurity.
This information is meant to be a general summary of Maryvale 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: $613
- Program Service Revenue: $541,380
- Gross Receipts: $1,150,207
Assets and Liabilities:
- Total Assets: $1,869,627
- Total Liabilities: $3,346,781
- Net Assets: -$1,477,154
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$541,380
Organization Details
Founding Year
1980
Principal Officer
Jan Harmening
NTEE Category
Code: L22 - Housing
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