Overview
What is Brementowne Manor?
Brementowne Manor is a nonprofit organization situated in Tinley Park, Illinois, specifically at 16130 Oak Park Avenue. Their primary focus is on operating a retirement community, housing 106 units, under Section 202 of the Housing Act of 1959. This section is designed to encourage the development and operation of housing for elderly persons. To support this mission, Brementowne Manor has a Section 8 Housing Assistance Contract, which is a federal program that helps eligible low-income families, the elderly, and persons with disabilities afford housing. The organization employs a team of 15 individuals to carry out its operations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning a Two-Star out of Four Star rating. This rating reflects a moderate level of accountability and financial health for Brementowne Manor. While the organization excels in areas such as having a fully independent board and strong program expense ratio, the overall score suggests room for improvement in financial transparency and governance practices.
Brementowne Manor demonstrates strengths in its governance structure, including having 100% independent board members and a robust audit and oversight committee, which are positive indicators of accountability. Additionally, the program expense ratio of 77.84% highlights a significant portion of its resources allocated directly to its programs, suggesting a commitment to its mission.
However, the organization has notable limitations, including the absence of several key policies such as conflict of interest, whistleblower protection, and document retention. Furthermore, its website is not listed on the tax form, which raises concerns about transparency. The liabilities to assets ratio is another area of concern, indicating potential financial instability. These factors collectively contribute to the Two-Star rating, signifying that while there are strengths, there are critical areas needing attention for improved trust and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Brementowne Manor legitimate?
Brementowne Manor is a legitimate nonprofit organization registered as a 501(c)(3) entity. Brementowne Manor 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.
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What is the mission statement of Brementowne Manor?
Brementowne Manor's mission is centered around operating a retirement community, specifically a 106-unit multifamily project, under Section 202 of the Housing Act of 1959. This project is further supported by Section 8 Housing Assistance Contracts. The primary objective of Brementowne Manor is to provide a living environment for retired individuals, ensuring they have the necessary support and assistance through these contracts. The community aims to enhance the quality of life for its residents, offering them a secure and comfortable retirement experience.
Who is the CEO of Brementowne Manor?
Bob Johnson is the President of Brementowne Manor.
What is the revenue of Brementowne Manor?
Brementowne Manor's revenue in 2022 was $1,451,147.
Who are the executives of Brementowne Manor and what are their salaries?
There are 15 employees and 20 volunteers at Brementowne Manor.
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Where can I find the form 990 for Brementowne Manor?
Brementowne Manor's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Brementowne Manor
Brementowne Manor is dedicated to the operation of a retirement community, specifically a 106-unit multifamily project, in adherence to Section 202 of the Housing Act of 1959. This nonprofit organization secures a Section 8 Housing Assistance Contract to provide financial support to its residents. The mission of Brementowne Manor is to offer a living environment that caters to the needs of retired individuals, ensuring they can reside in a comfortable and secure setting. By leveraging the Section 8 Housing Assistance Program, Brementowne Manor is able to make housing more affordable for its senior residents, thereby promoting a sense of stability and independence during their golden years.
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Impact
October, 2024
Brementowne Manor plays a crucial role in providing affordable housing for seniors in Tinley Park, Illinois. By operating a 106-unit multifamily retirement community under Section 202 of the Housing Act of 1959, it ensures that elderly residents have access to safe, comfortable living conditions tailored to their needs. The inclusion of Section 8 housing assistance contracts allows for affordability, enabling residents to live independently while receiving necessary support.
The impact of Brementowne Manor extends beyond mere housing; it fosters a sense of community among residents, promoting social engagement and enhancing quality of life. By creating an environment where seniors can thrive, Brementowne Manor contributes to the overall health and well-being of its residents, helping to combat isolation often experienced in later years. This multifamily project is vital in addressing the growing need for affordable senior housing options, thereby positively influencing both individual lives and the broader community in Tinley Park.
This information is meant to be a general summary of Brementowne Manor. 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: $648
- Program Service Revenue: $1,442,344
- Gross Receipts: $1,451,147
Assets and Liabilities:
- Total Assets: $5,042,608
- Total Liabilities: $5,170,946
- Net Assets: -$128,338
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,442,344
Organization Details
Founding Year
1980
Phone
(708) 429-4088Principal Officer
Bob Johnson
Main Address
16130 OAK PARK AVENUE, TINLEY PARK, IL, 60477
NTEE Category
Code: L210 - Housing
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