Overview
What is Thresholds Housing Inc?
Thresholds Housing Inc is a nonprofit organization based in Chicago, Illinois, specializing in providing housing facilities and services for individuals recovering from severe and persistent mental illness. The organization manages a 12-unit apartment building called Jacqueline Terrace, regulated by the U.S. Department of Housing and Urban Development (HUD). Leases in this building typically last for one year. The organization's activities are overseen by the board of directors of Thresholds, a related nonprofit that also offers rehabilitative services to former mental patients. Thresholds also provides management, accounting, and administrative services to the project for which a management fee is charged, and offers operating advances to the project as needed. In summary, Thresholds Housing Inc aims to offer a supportive living environment for those grappling with mental health challenges, helping them on their journey towards recovery.
Official website here: www.thresholds.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
Thresholds Housing Inc has achieved a commendable Three-Star rating from Charity Navigator, indicating a strong performance in the area of accountability and finance. The organization scored 82% overall based entirely on its accountability measures, which reflect a commitment to ethical governance and financial transparency. The full score in the aspects of independent board members, conflict of interest policies, and whistleblower protections exemplifies its dedication to responsible management.
One of the notable strengths of Thresholds Housing Inc is its effective allocation of funds, as evidenced by an impressive program expense ratio of 86.82%. This signifies that a substantial portion of its financial resources is directed towards its programs, which is a positive indicator for donors looking to support impactful initiatives. The organization has also established robust guidelines and policies that further enhance its accountability.
However, while the financial management appears solid, some may note the high salaries of key personnel, which could raise questions among donors about the distribution of resources. It’s essential for the organization to ensure that its compensation practices align with its mission and values to maintain public trust. Overall, Thresholds Housing Inc demonstrates a strong commitment to accountability, though ongoing communication about its financial practices will be important for sustaining donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Thresholds Housing Inc legitimate?
Thresholds Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Thresholds Housing 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: $13,349
For more financial information, click here
Official website here: www.thresholds.org
What is the mission statement of Thresholds Housing Inc?
Thresholds Housing Inc is a non-profit social service agency dedicated to providing housing facilities and services tailored to meet the physical, social, and psychological needs of individuals recovering from severe and persistent mental illness. The organization specializes in offering support that caters to their unique challenges, aiming to promote a smoother and more successful recovery process. Thresholds Housing Inc manages housing projects under the provisions of Section 202 of the National Housing Act, with one example being the Jacqueline Terrace in Chicago, Illinois. The agency's activities, including rent and operational methods, are regulated by the U.S. Department of Housing and Urban Development (HUD). A board of directors from Thresholds, another related non-profit social service agency, oversees the project's operations, and they also provide certain management, accounting, and administrative services. A management fee is charged for these services. The Thresholds agency also provides operating advances to the project when needed.
Official website here: www.thresholds.org
Who is the CEO of Thresholds Housing Inc?
Al Shoreibah is the President of Thresholds Housing Inc. The CEO's salary of Thresholds Housing Inc is $0 and their total compensation is $451,372.
Official website here: www.thresholds.org
What is the revenue of Thresholds Housing Inc?
Thresholds Housing Inc's revenue in 2022 was $171,707.
Official website here: www.thresholds.org
Who are the executives of Thresholds Housing Inc and what are their salaries?
There 50 volunteers at Thresholds Housing Inc.
Here are 61 key members and their salaries (Thresholds Housing Inc's CEO's salary is $0 and their total compensation is $451,372):
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- Related: $189,860
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- Related: $66,770
- Other: $2,123
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- Related: $34,768
- Other: $0
Official website here: www.thresholds.org
Where can I find the form 990 for Thresholds Housing Inc?
Thresholds Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thresholds.org
Learn more at the official website: www.thresholds.org
Mission Statement of Thresholds Housing Inc
Thresholds Housing Inc, a non-profit social service agency, is dedicated to providing housing facilities and services tailored to meet the physical, social, and psychological needs of individuals recovering from severe and persistent mental illness. This organization, with a mission to foster recovery and independence, owns and operates a 12-unit apartment building, known as Jacqueline Terrace, subject to a federally insured first mortgage loan. The apartments, typically leased for one-year terms, are regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rents and operating methods. The organization's activities are overseen by the Board of Directors of Thresholds, a related non-profit agency that also provides rehabilitative services to former mental patients. Additionally, Thresholds offers management, accounting, and administrative services to the project for which a management fee is charged. The agency also extends operating advances to the project when necessary.
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Impact
June, 2024
Thresholds Housing Inc's impact is significant in providing housing facilities and services specially designed to meet the physical, social, and psychological needs of individuals facing the challenge of recovery from severe and persistent mental illness. Through their 12-unit apartment building in Chicago, known as Jacqueline Terrace, they offer a supportive environment for individuals in need. By providing regulated leases and HUD-controlled rents, they ensure access to stable housing for those undergoing recovery. The organization's mission of supporting individuals in their mental health journey through housing services underscores its essential role in promoting mental wellness and stability in the community.
This information is meant to be a general summary of Thresholds Housing 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: $13
- Program Service Revenue: $171,694
- Gross Receipts: $171,707
Assets and Liabilities:
- Total Assets: $746,215
- Total Liabilities: $563,562
- Net Assets: $182,653
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT SUBSIDY
Revenue
$108,669
RESIDENTIAL FEES
Revenue
$49,489
RENT REVENUE
Revenue
$13,536
Organization Details
Founding Year
1980
Phone
(773) 572-5500Principal Officer
Al Shoreibah
Main Address
4101 N RAVENSWOOD, CHICAGO, IL, 60613
Website
www.thresholds.orgNTEE Category
Code: F33Z - Mental health
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