Overview
What is Argos Garden Court Inc?
Argos Garden Court Inc is a non-profit organization based in Indiana, specifically in North Vernon. Established with the intention of providing affordable housing, it constructed, owns, and operates a 23-unit apartment complex named Argos Garden Court. This initiative aligns with Section 202 of the National Affordable Housing Act. The organization has entered into agreements with the Federal Housing Administration (FHA) and HUD, ensuring it adheres to their regulatory standards. Furthermore, Argos Garden Court Inc has also secured a Project Rental Assistance Contract (PRAC) with HUD, which provides rental assistance for low-income families or individuals. This program aids in making housing more accessible and affordable for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Stars)
Argos Garden Court Inc has achieved a solid Three-Star rating from Charity Navigator, reflecting its overall performance and efficiency in managing resources. With an Accountability & Finance score of 80, the organization demonstrates a commitment to transparency and effective financial practices. Notably, it boasts a fully independent board, which is crucial for unbiased decision-making and governance.
The organization excels in several areas, earning perfect scores in criteria such as the majority of independent board members, material diversion of assets, and maintaining a conflict of interest policy. Additionally, it has a strong program expense ratio of 73.11%, indicating that a significant portion of its resources is directed toward its mission-related activities, which bodes well for its impact in the community.
While Argos Garden Court Inc shows strengths in governance and financial management, the overall score suggests there is still room for improvement to reach higher ratings. Potential donors and supporters may want to consider these factors while assessing the charity's effectiveness and alignment with their philanthropic goals.
This AI summary has been generated from information found on Charity Navigator.
Is Argos Garden Court Inc legitimate?
Argos Garden Court Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Argos Garden Court 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 Argos Garden Court Inc?
Argos Garden Court Inc, as a not-for-profit organization, was established with the purpose of constructing, owning, and managing a 23-unit apartment complex. This complex is located in North Vernon, Indiana, and is known as Argos Garden Court. The organization was established in accordance with Section 202 of the National Affordable Housing Act. Argos Garden Court Inc has entered into regulatory agreements with the Federal Housing Administration (FHA) and has also secured a Project Rental Assistance Contract (PRAC) with HUD. This PRAC contract provides rental assistance for low-income families or individuals, as per HUD's provisions. The organization's primary focus is on providing affordable housing solutions.
Who is the CEO of Argos Garden Court Inc?
John Myers is the President of Argos Garden Court Inc.
What is the revenue of Argos Garden Court Inc?
Argos Garden Court Inc's revenue in 2023 was $158,197.
Who are the executives of Argos Garden Court Inc and what are their salaries?
There 13 volunteers at Argos Garden Court Inc.
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Where can I find the form 990 for Argos Garden Court Inc?
Argos Garden Court Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Argos Garden Court Inc
Argos Garden Court Inc, a not-for-profit organization, was established with the mission to construct, own, and operate a 23-unit apartment complex in North Vernon, Indiana. The organization was founded under Section 202 of the National Affordable Housing Act, with the primary goal of providing affordable housing solutions for low-income families or individuals. To ensure the successful operation of the community, Argos Garden Court Inc has executed standard regulatory agreements with the Federal Housing Administration (FHA). Furthermore, the corporation has entered into a Project Rental Assistance Contract (PRAC) with HUD, which is a rent assistance program specifically designed for low-income families or individuals. This contract provides financial support to make housing more affordable for those in need. In essence, Argos Garden Court Inc is dedicated to promoting affordable housing and supporting low-income families through its apartment complex and rent assistance programs.
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Impact
October, 2024
Argos Garden Court Inc plays a crucial role in addressing housing needs in North Vernon, Indiana, by constructing, owning, and operating a 23-unit apartment complex designed to provide affordable housing options. Its focus on low-income families and individuals is facilitated through partnerships and agreements with the U.S. Department of Housing and Urban Development (HUD), specifically through the Project Rental Assistance Contract (PRAC) and adherence to the National Affordable Housing Act. This enables the organization to offer rental assistance, ensuring that residents can secure stable housing without being burdened by excessive costs.
By operating Argos Garden Court, the organization not only provides essential housing but also creates a supportive community environment. This impacts the local area by enhancing the quality of life for residents, contributing to economic stability, and fostering community engagement. The presence of affordable housing helps to alleviate homelessness and encourages families to thrive in a safe and nurturing setting. Thus, Argos Garden Court Inc significantly contributes to the well-being of North Vernon by improving access to essential resources and promoting a sense of belonging among its residents.
This information is meant to be a general summary of Argos Garden Court 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: $8
- Program Service Revenue: $99,442
- Gross Receipts: $158,197
Assets and Liabilities:
- Total Assets: $811,164
- Total Liabilities: $30,283
- Net Assets: $780,881
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$99,442
Organization Details
Founding Year
1998
Phone
(219) 234-9923Principal Officer
John Myers
Main Address
PO BOX 540, SOUTH BEND, IN, 46624
NTEE Category
Code: P80 - Human services
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