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Lakeview Village Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 351439037 ✦ Speedway, IN ✦ Designated as a 501(c)(3)

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Overview

What is Lakeview Village Inc?

Lakeview Village Inc, located in Speedway, Indiana, is a nonprofit organization with a focus on providing housing solutions. Specifically, they manage a 90-unit apartment project, catering to individuals with low and very low income levels, under the provisions of the National Housing Act's Section 202. With a dedicated workforce of eight employees, Lakeview Village Inc is committed to making a difference in the community by offering housing opportunities that are essential for these individuals. The organization's mission is to foster a supportive environment, ensuring that residents have access to affordable and safe living conditions.

What are the reviews and ratings of this charity?

Charity Navigator Rating: 67% (Two-Star out of Four Star Rating)

Lakeview Village Inc has received a Two-Star rating from Charity Navigator, reflecting a score of 67%. This rating indicates that while the organization has some strengths in areas like having a fully independent board and high program expense ratio, there are significant concerns regarding its financial management and accountability practices.

The charity boasts a commendable 100% of its board members being independent, alongside a fully compliant audit oversight, indicating robust governance. However, it faces challenges with a high liabilities to assets ratio of 117.29%, which may raise questions about its financial stability. Moreover, the absence of essential policies, such as a conflict of interest policy and whistleblower policy, points to potential weaknesses in its operational transparency.

Overall, while Lakeview Village Inc demonstrates strong governance features, the lack of key financial documents and policies could impact donor confidence and the organization's long-term sustainability. Enhancing its accountability practices would be beneficial for addressing these limitations.


This AI summary has been generated from information found on Charity Navigator.

Is Lakeview Village Inc legitimate?

Lakeview Village Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lakeview Village 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:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $132,413

For more financial information, click here

What is the mission statement of Lakeview Village Inc?

Lakeview Village Inc's mission is centered around providing housing for individuals with low or extremely low income, adhering to federal programs. The organization operates under Section 202 of the National Housing Act, specifically managing a 90-unit apartment project. In essence, Lakeview Village Inc is committed to offering housing solutions for individuals who fall under the specified income brackets, upholding federal guidelines in its operations.

Who is the CEO of Lakeview Village Inc?

Timothy Paino is the President of Lakeview Village Inc.

What is the revenue of Lakeview Village Inc?

Lakeview Village Inc's revenue in 2023 was $715,754.

Who are the executives of Lakeview Village Inc and what are their salaries?

The average compensation at Lakeview Village Inc during 2023 was $16,552. There are 8 employees at Lakeview Village Inc.


Here are 3 key members and their salaries:


Timothy Paino (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Dwayne Shaw (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Larry White (Secretary/Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Lakeview Village Inc?

Lakeview Village Inc's most recent form 990 was submitted in 2023 and can be accessed here.

Mission Statement of Lakeview Village Inc

Lakeview Village Inc, as a nonprofit organization, is dedicated to providing housing for individuals with low or very low income, adhering to federal programs. Its mission is to offer a sanctuary for these individuals, ensuring they have access to suitable living accommodations. This commitment is materialized through the management of a 90-unit apartment project, which falls under Section 202 of the National Housing Act. By providing such housing solutions, Lakeview Village Inc contributes significantly to promoting a stable living environment for those in need, thereby enhancing their overall well-being.

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Impact




October, 2024

Lakeview Village Inc significantly impacts the community by providing affordable housing options for low and very low-income individuals in Speedway, Indiana. By owning and operating a 90-unit apartment project under Section 202 of the National Housing Act, the organization addresses a critical need for safe, stable housing, which is essential for the overall well-being of its residents.

The availability of such housing not only helps to alleviate the financial burden faced by vulnerable populations but also fosters a sense of community and belonging. This stability can lead to improved health outcomes, as it allows residents to focus on their well-being and personal development without the immediate stress of housing insecurity. Through its mission, Lakeview Village Inc plays an essential role in enhancing the quality of life for numerous individuals and families, contributing to a healthier, more vibrant community.




This information is meant to be a general summary of Lakeview Village 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.

Revenue
$715,754 (2023)
Expenses
$690,265 (2023)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2023.

  • Investment Income: $2,264
  • Program Service Revenue: $705,163
  • Gross Receipts: $715,754

Assets and Liabilities:

  • Total Assets: $1,541,069
  • Total Liabilities: $1,807,615
  • Net Assets: -$266,546

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

HAP RENTS

Revenue

$400,912

OTHER TENANT RENT

Revenue

$304,251

Organization Details

Founding Year

1979

Principal Officer

Timothy Paino

Main Address

1140 NORTH NORFOLK STREET, SPEEDWAY, IN, 46224

NTEE Category

Code: E20Z - Health

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