Overview
What is Shore Line Place Inc?
Shore Line Place Inc is a nonprofit organization that specializes in providing low-income housing for the elderly. Situated within their ownership, the housing complex adheres to the guidelines outlined in section 202 of the National Housing Act. With this mission at heart, Shore Line Place Inc assists elderly individuals in accessing affordable living arrangements, thereby contributing to their well-being and overall quality of life. The organization's commitment to this cause is evident in their management of the complex, ensuring compliance with the National Housing Act.
Official website here: www.lssi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars
Shore Line Place Inc has received a "Needs Improvement" rating from Charity Navigator, with an overall score of 73%. The organization demonstrates strengths in governance, having 100% independent board members and a strong audit and oversight framework. Additionally, their program expense ratio is commendable at 79.25%, indicating that a significant portion of resources is directed towards their programs.
However, there are notable weaknesses reflected in their accountability and finance practices. The absence of a conflict of interest policy and document retention policy raises concerns about governance standards. Furthermore, the high liabilities to assets ratio at 228.86% is alarming and suggests financial instability, which could impact their operational capacity in the long run.
In conclusion, while Shore Line Place Inc has some commendable governance practices and a focus on program expenses, the significant areas for improvement in accountability and financial health must be addressed to enhance their overall effectiveness and sustainability as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Shore Line Place Inc legitimate?
Shore Line Place Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Shore Line Place 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: $153,515
For more financial information, click here
Official website here: www.lssi.org
What is the mission statement of Shore Line Place Inc?
Shore Line Place Inc, as an organization, is dedicated to serving the elderly population by providing low-income housing. They operate an apartment complex that adheres to the guidelines set by Section 202 of the National Housing Act, thereby fulfilling their mission of offering affordable housing options for this demographic. The organization owns and manages the complex, ensuring that elderly individuals have access to suitable and economical housing solutions. Shore Line Place Inc's mission is centered around enhancing the living conditions of the elderly, making it possible for them to maintain a comfortable and secure lifestyle within their means.
Official website here: www.lssi.org
Who is the CEO of Shore Line Place Inc?
Mark Frisch is the President of Shore Line Place Inc.
Official website here: www.lssi.org
What is the revenue of Shore Line Place Inc?
Shore Line Place Inc's revenue in 2023 was $711,395.
Official website here: www.lssi.org
Who are the executives of Shore Line Place Inc and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.lssi.org
Where can I find the form 990 for Shore Line Place Inc?
Shore Line Place Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lssi.org
Learn more at the official website: www.lssi.org
Mission Statement of Shore Line Place Inc
Shore Line Place Inc, as a nonprofit organization, is dedicated to fulfilling its mission of providing low-income housing. Specifically, they operate an apartment complex that caters to the elderly population. This commitment is in line with Section 202 of the National Housing Act, ensuring that the organization adheres to stringent standards and regulations. By owning and managing this complex, Shore Line Place Inc plays a crucial role in addressing the housing needs of the elderly, who often face financial constraints. Their mission is to offer affordable and safe living spaces, thereby contributing to the well-being and dignity of this vulnerable group.
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Impact
July, 2024
Shore Line Place Inc's impact is significant in providing low-income housing for the elderly through its operation of an apartment housing complex. By owning and managing this complex in compliance with section 202 of the national housing act, Shore Line Place Inc directly addresses the pressing need for affordable housing options for senior citizens in DES PLAINES, IL. This initiative not only offers a safe and comfortable living environment for the elderly but also contributes to the overall well-being and quality of life of this vulnerable population. Through its dedicated mission, Shore Line Place Inc plays a crucial role in supporting the community by ensuring that low-income elderly individuals have access to stable and affordable housing options.
This information is meant to be a general summary of Shore Line Place 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: $177
- Program Service Revenue: $140,902
- Gross Receipts: $711,395
Assets and Liabilities:
- Total Assets: $961,007
- Total Liabilities: $2,199,435
- Net Assets: -$1,238,428
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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
$140,902
Organization Details
Founding Year
1987
Phone
(847) 635-4600Principal Officer
Mark Frisch
Main Address
1001 E TOUHY AVE 50, DES PLAINES, IL, 60018
Website
www.lssi.orgNTEE Category
Code: L22 - Housing
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