Overview
What is Senior Housing Inc?
Senior Housing Inc is a nonprofit organization that specializes in providing low-income housing for the elderly. According to the National Housing Act, they own and manage an apartment complex specifically designed for this demographic. Their primary mission revolves around offering affordable living spaces for the elderly, ensuring they maintain a comfortable and secure environment. The organization's activities are centered around the provision of housing, thereby contributing positively to the lives of its elderly residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69%, Two-Star out of Four Star rating
Senior Housing Inc has received a 69% rating from Charity Navigator, indicating a two-star evaluation. This rating reflects a mixed performance in accountability and finance, highlighting strengths in governance, such as an entirely independent board and a strong audit and oversight committee. The majority of its financial metrics suggest efficient program spending with a notably high program expense ratio of 79.70%, indicating a commitment to its mission.
However, the organization has notable weaknesses that affect its overall score. The lack of essential policies, including a conflict of interest and a whistleblower policy, suggests potential vulnerabilities in governance. Additionally, the liabilities to assets ratio stands at a concerning 276.52%, which raises questions about financial sustainability and management.
Despite these challenges, Senior Housing Inc maintains transparency in certain areas, such as having documented board meeting minutes and a tax form listed on its website. However, the absence of critical documents online diminishes accessibility for stakeholders seeking more information about the organization's operations. Overall, while the nonprofit demonstrates strengths in several governance areas, it faces significant challenges that potential donors and stakeholders should consider.
This AI summary has been generated from information found on Charity Navigator.
Is Senior Housing Inc legitimate?
Senior Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Senior 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: $219,750
For more financial information, click here
What is the mission statement of Senior Housing Inc?
Senior Housing Inc., as an organization, is dedicated to providing low-income housing for the elderly. They accomplish this by owning and managing an apartment complex in accordance with Section 202 of the National Housing Act. The primary goal of this nonprofit is to offer a safe and affordable living environment for the elderly, ensuring they can age with dignity and independence. The organization's commitment extends beyond just providing housing, as it strives to create a supportive community where seniors can thrive.
Who is the CEO of Senior Housing Inc?
Steve Payne is the President of Senior Housing Inc.
What is the revenue of Senior Housing Inc?
Senior Housing Inc's revenue in 2023 was $1,034,687.
Who are the executives of Senior Housing Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Senior Housing Inc?
Senior Housing Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Senior Housing Inc
Senior Housing Inc is dedicated to providing affordable housing solutions for the elderly, as indicated by its mission statement. The organization fulfills this objective by owning and managing an apartment complex in compliance with Section 202 of the National Housing Act. This act is a federal legislation designed to support the development of affordable housing for elderly individuals, and Senior Housing Inc leverages this provision to offer a safe and comfortable living environment for its residents. By providing such housing, Senior Housing Inc contributes to the well-being and independence of the elderly population, enabling them to maintain a decent quality of life in their later years.
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Impact
October, 2024
Senior Housing Inc significantly impacts the community by providing affordable housing options for elderly individuals. By owning and operating an apartment complex specifically designed for seniors, the organization plays a crucial role in addressing the housing needs of low-income elderly residents in Des Plaines, Illinois. This initiative not only ensures that seniors have a safe and stable living environment, but it also fosters a sense of community and support among residents, enhancing their overall quality of life. Through its commitment to fulfilling the requirements of the national housing act, Senior Housing Inc helps to alleviate the financial burdens often faced by older adults, allowing them to maintain their independence while accessing essential services and resources.
This information is meant to be a general summary of Senior 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 2023.
- Investment Income: $317
- Program Service Revenue: $296,722
- Gross Receipts: $1,034,687
Assets and Liabilities:
- Total Assets: $976,348
- Total Liabilities: $2,699,985
- Net Assets: -$1,723,637
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT & CHARGES
Revenue
$296,722
Organization Details
Founding Year
1984
Phone
(847) 635-4600Principal Officer
Steve Payne
Main Address
1001 TOUHY AVE 50, DES PLAINES, IL, 60018
NTEE Category
Code: L210 - Housing
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