Overview
What is Moogoong Terrace Inc?
Moogoong Terrace Inc is a nonprofit organization situated in Chicago, Illinois. With a team of eight dedicated individuals, their primary mission is to manage and operate a 75-unit apartment building, offering subsidized housing for elderly and handicapped individuals through the HUD (Department of Housing and Urban Development) program. This facility aims to provide a safe and comfortable living environment for those in need, ensuring they have access to essential housing services.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Stars
Moogoong Terrace Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. The organization scored 79% overall, based entirely on its accountability metrics, which highlights its commitment to financial transparency and responsible governance.
Strengths of Moogoong Terrace Inc include its fully independent board, with a composition that meets the highest standards for governance. The organization has also implemented sound financial practices, earning full points in areas such as audit oversight, conflict of interest policies, and document retention. Additionally, the program expense ratio is commendable at 74.51%, suggesting that a significant portion of its funds are directed towards its programs.
However, the organization has a notable concern regarding its liabilities to assets ratio, which stands at 136.06%, resulting in no points earned in that category. This may indicate potential financial instability or excessive liabilities compared to its assets, which could be a point of caution for potential donors. Overall, while the charity demonstrates strong governance practices, stakeholders may want to consider its financial health when evaluating its future sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Moogoong Terrace Inc legitimate?
Moogoong Terrace Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Moogoong Terrace 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: $267,261
For more financial information, click here
What is the mission statement of Moogoong Terrace Inc?
Moogoong Terrace Inc's mission is centered around operating and managing a 75-unit apartment building that provides subsidized housing to elderly and handicapped individuals, funded by the HUD. Their primary objective is to provide a living space for these individuals, ensuring they have access to a safe and supportive environment. The organization's activities focus on managing the facility effectively, ensuring the needs of its residents are met, and ensuring the housing remains subsidized to keep it affordable. By providing this service, Moogoong Terrace Inc aims to contribute positively to the lives of elderly and handicapped individuals, enhancing their overall well-being and quality of life.
Who is the CEO of Moogoong Terrace Inc?
Arnie Choi is the President of Moogoong Terrace Inc.
What is the revenue of Moogoong Terrace Inc?
Moogoong Terrace Inc's revenue in 2022 was $1,008,260.
Who are the executives of Moogoong Terrace Inc and what are their salaries?
The average compensation at Moogoong Terrace Inc during 2022 was $33,408. There are 8 employees and 5 volunteers at Moogoong Terrace Inc.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Moogoong Terrace Inc?
Moogoong Terrace Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Moogoong Terrace Inc
Moogoong Terrace Inc, as a nonprofit organization, is dedicated to providing subsidized housing for elderly and handicapped individuals. They manage and operate a 75-unit apartment building, serving as a haven for those in need of such accommodations. Their mission is to ensure these individuals have a secure and comfortable living environment, offering them the necessary support to maintain their independence and quality of life. By providing HUD-subsidized housing, Moogoong Terrace Inc plays a crucial role in the community, ensuring that vulnerable individuals have access to safe and affordable housing.
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
Moogoong Terrace Inc significantly impacts the community by providing essential housing for elderly and handicapped individuals in Chicago. By operating and managing a 75-unit apartment building, it ensures that vulnerable populations have access to safe and affordable living spaces. The organization specifically focuses on HUD-subsidized housing, alleviating financial burdens and promoting stability for residents. This commitment not only enhances the quality of life for those individuals but also fosters a sense of community and belonging, ultimately contributing to the overall well-being of the neighborhood.
This information is meant to be a general summary of Moogoong Terrace 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: $355
- Program Service Revenue: $1,006,898
- Gross Receipts: $1,008,260
Assets and Liabilities:
- Total Assets: $2,017,766
- Total Liabilities: $2,815,938
- Net Assets: -$798,172
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.
TENANT ASSISTANCE
Revenue
$813,954
UNSUBSIDIZED RENT
Revenue
$192,944
Organization Details
Founding Year
1980
Phone
(773) 583-5501Principal Officer
Arnie Choi
Main Address
4848 N KEDZIE AVE, CHICAGO, IL, 60625
NTEE Category
Code: L210 - Housing
If you are a representative of Moogoong Terrace 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.