Overview
What is Lincoln Park Renewal Corporation Co Tom?
Lincoln Park Renewal Corporation Co Tom is a nonprofit organization situated in Chicago, Illinois, specifically at 1605 N Mohawk St. Their primary mission involves managing a 45-unit apartment and townhouse complex, catering to families and individuals with medium income levels. The organization's primary activity is the operation of low-income housing, contributing to the local community in Chicago, Illinois. The nonprofit is staffed by a small team of two dedicated individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, earning it a Two-Star out of Four Star rating.
Lincoln Park Renewal Corporation Co Tom has received a mixed evaluation, with a significant strength in governance and financial oversight, indicated by a high program expense ratio of 95.12%. The organization has a fully independent board of directors, which is a positive indicator of accountability. Furthermore, it exhibits robust practices in financial statement auditing and oversight, with no material diversions of assets reported.
However, the organization faces notable limitations, particularly in its financial transparency and governance policies. It received low scores for having missing crucial documents such as its tax form, conflict of interest policy, and whistleblower policy. Additionally, the high liabilities to assets ratio at 122.49% raises concerns regarding financial stability, suggesting that the organization may be operating with more debt than assets.
This AI summary has been generated from information found on Charity Navigator.
Is Lincoln Park Renewal Corporation Co Tom legitimate?
Lincoln Park Renewal Corporation Co Tom is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lincoln Park Renewal Corporation Co Tom 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: $76,314
For more financial information, click here
What is the mission statement of Lincoln Park Renewal Corporation Co Tom?
The Lincoln Park Renewal Corporation operates a 45-unit housing facility, catering to medium-income families and individuals. Their primary mission is to provide a living space within this facility. The corporation aims to contribute positively to the community by offering affordable housing options. The facility is strategically located, providing a viable living solution for those within a specific income bracket. The corporation's activities are centered around the operation and maintenance of this housing facility, ensuring a comfortable living environment for its residents. The mission does not explicitly mention any specific programs or services, but the provision of low-income housing is its primary focus.
Who is the CEO of Lincoln Park Renewal Corporation Co Tom?
Tom Eley Iii is the President of Lincoln Park Renewal Corporation Co Tom.
What is the revenue of Lincoln Park Renewal Corporation Co Tom?
Lincoln Park Renewal Corporation Co Tom's revenue in 2022 was $521,974.
Who are the executives of Lincoln Park Renewal Corporation Co Tom and what are their salaries?
The average compensation at Lincoln Park Renewal Corporation Co Tom during 2022 was $38,157. There are 2 employees and 9 volunteers at Lincoln Park Renewal Corporation Co Tom.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Lincoln Park Renewal Corporation Co Tom?
Lincoln Park Renewal Corporation Co Tom's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lincoln Park Renewal Corporation Co Tom
Lincoln Park Renewal Corporation Co Tom is dedicated to the operation of a residential facility, specifically a 45-unit apartment and townhouse complex. This nonprofit organization caters to medium-income families and individuals, providing them with a secure living space in an undisclosed location. The mission of Lincoln Park Renewal Corporation Co Tom is centered around providing affordable housing solutions, ensuring that these families and individuals have a place to call home. The organization's commitment extends beyond just providing housing, as it strives to create a community where these families can thrive.
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Impact
July, 2024
Lincoln Park Renewal Corporation Co Tom's impact is significant in providing affordable housing options for medium-income families and individuals in Chicago, Illinois. By operating a 45-unit apartment and townhouse facility, they address the critical need for housing in the city. Their focus on medium-income households fills a gap in the housing market, ensuring that more individuals and families have access to safe and affordable homes. This impact helps strengthen the community by supporting residents to thrive and contribute to the local economy.
This information is meant to be a general summary of Lincoln Park Renewal Corporation Co Tom. 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: $2,094
- Program Service Revenue: $519,880
- Gross Receipts: $521,974
Assets and Liabilities:
- Total Assets: $961,914
- Total Liabilities: $1,178,276
- Net Assets: -$216,362
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUES
Revenue
$519,880
Organization Details
Founding Year
1964
Phone
(312) 644-1055Principal Officer
Tom Eley Iii
Main Address
1605 N MOHAWK ST, CHICAGO, IL, 60614
NTEE Category
Code: L20 - Housing
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