Overview
What is Marian Park Inc?
Marian Park Inc., established in 1972, is a nonprofit organization based in Illinois. Its primary mission is to construct and manage a rental housing project, following regulations set by the U.S. Department of Housing and Urban Development (HUD), under Section 236 of the National Housing Act. The project, comprising 210 units, is located in Wheaton, Illinois, and currently operates under the name Marian Park Inc. The organization's activities aim to provide affordable housing options to its residents, ensuring compliance with HUD-regulated rent charges and operating methods.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64% (Two-Star out of Four Star Rating)
Marian Park Inc has received a Two-Star rating from Charity Navigator, indicating that while the organization demonstrates some strengths, there are significant areas for improvement. The charity's accountability and finance score stands at 64%, driven largely by its high program expense ratio of 97.68%, which suggests that a substantial portion of its budget is allocated directly to its programs rather than administrative costs.
However, the organization lacks independent board members, which raises concerns about governance and oversight. Additionally, key documents such as the tax form and website are not listed as required, indicating deficiencies in transparency. While the organization has policies in place for conflicts of interest and whistleblowing, these strengths are overshadowed by the notable liabilities to assets ratio of 204.33%, hinting at potential financial instability.
Overall, while Marian Park Inc is committed to its mission with a high program expense ratio, the lack of independent oversight and transparency measures presents challenges that may affect donor confidence and the organization's long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Marian Park Inc legitimate?
Marian Park Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marian Park 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: $484,095
For more financial information, click here
What is the mission statement of Marian Park Inc?
Marian Park Inc, established in 1972, was organized as a non-profit Illinois corporation with the goal of constructing and operating a rental housing project under Section 236 of the National Housing Act. This project, regulated by HUD, ensures controlled rent charges and operating methods. The project, consisting of 210 units, is currently operational in Wheaton, Illinois, and operates under the name Marian Park Inc. The primary mission of this organization is to provide affordable housing, ensuring that the regulations set by HUD are adhered to.
Who is the CEO of Marian Park Inc?
Melissa Clayton is the President/Director of Marian Park Inc.
What is the revenue of Marian Park Inc?
Marian Park Inc's revenue in 2022 was $3,166,261.
Who are the executives of Marian Park Inc and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $94,309
- Other: $16,925
- Compensation: $0
- Related: $215,449
- Other: $8,873
- Compensation: $0
- Related: $134,820
- Other: $30,258
- Compensation: $0
- Related: $228,009
- Other: $33,552
- Compensation: $0
- Related: $192,019
- Other: $31,505
- Compensation: $0
- Related: $189,811
- Other: $4,240
- Compensation: $0
- Related: $162,243
- Other: $9,934
- Compensation: $0
- Related: $239,519
- Other: $10,391
Where can I find the form 990 for Marian Park Inc?
Marian Park Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Marian Park Inc
Marian Park Inc, established in 1972, was organized as a non-stock, nonprofit organization with a mission to construct and operate a rental housing project under Section 236 of the National Housing Act. This project, consisting of 210 units, is regulated by HUD in terms of rent charges and operating methods. Currently, it operates under the name Marian Park Inc in Wheaton, Illinois. The primary goal of this organization is to provide affordable housing, ensuring that the operating methods and rent charges adhere to the regulations set by HUD.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Marian Park Inc has made a significant impact by providing accessible rental housing in Wheaton, Illinois, through the construction and operation of a 210-unit housing project. Established in 1972, it operates under the guidelines of the National Housing Act, specifically Section 236, which allows it to offer affordable living options to residents. The organization plays a crucial role in ensuring that housing is regulated, with oversight on rent charges and operating methods by HUD, which protects tenants and promotes sustainable communities. This commitment to affordable housing not only addresses the immediate needs for shelter but also contributes to the overall well-being and stability of the local population.
This information is meant to be a general summary of Marian Park 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 2022.
- Investment Income: $153
- Program Service Revenue: $1,001,409
- Gross Receipts: $3,166,261
Assets and Liabilities:
- Total Assets: $5,396,651
- Total Liabilities: $11,027,293
- Net Assets: -$5,630,642
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET RENTAL REVENUE
Revenue
$981,888
ANCILLARY SERVICES
Revenue
$15,935
OTHER REVENUE
Revenue
$3,586
Organization Details
Founding Year
1972
Phone
(303) 830-3300Principal Officer
Melissa Clayton
Main Address
1600 BROADWAY SUITE 2000, DENVER, CO, 802025704
NTEE Category
Code: L21 - Housing
If you are a representative of Marian Park Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.