Overview
What is Chatham Park South Cooperative?
Chatham Park South Cooperative is a nonprofit organization situated in Chicago, Illinois, specifically at 660 EAST 85TH STREET. Their primary mission is to provide housing for elderly and handicapped individuals, catering to their unique physical, social, and psychological needs. They achieve this goal through the U.S. Department of Housing and Urban Development (HUD) Section 202 Loan Program, ensuring that suitable accommodations are available for this specific population. With a dedicated team of eight employees, Chatham Park South Cooperative aims to enhance the quality of life for senior and handicapped individuals by addressing their unique needs within a supportive community setting.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Chatham Park South Cooperative has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial management. The rating is derived solely from the Accountability & Finance beacon, where the organization has excelled in areas such as having a fully independent board and robust financial oversight mechanisms. With a program expense ratio of 82.46%, the cooperative demonstrates a strong commitment to directing funds toward its programs rather than administrative costs.
However, the organization does face challenges, particularly regarding its liabilities to assets ratio, which is significantly high at 161.76%. This suggests that the cooperative has more liabilities than assets, potentially raising concerns about financial stability. Despite this, other aspects of governance, like the implementation of conflict of interest and whistleblower policies, reinforce the organization's commitment to transparency and ethical operation.
Overall, while Chatham Park South Cooperative showcases commendable governance and a focus on program expenses, its financial stability could benefit from a closer look given its high liabilities. This rating reflects a well-managed organization, but stakeholders should be aware of the financial ratios that may impact long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Chatham Park South Cooperative legitimate?
Chatham Park South Cooperative is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chatham Park South Cooperative 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 Chatham Park South Cooperative?
Chatham Park South Cooperative's mission, as outlined, is primarily focused on providing housing for senior and handicapped individuals. They achieve this through the utilization of the HUD Section 202 Loan Program. The organization's goal is to offer more than just housing; they aim to cater to the unique physical, social, and psychological needs of these residents by providing them with specially designed services. This approach ensures that the residents are able to live with dignity and comfort in their new homes.
Who is the CEO of Chatham Park South Cooperative?
Ms Pauline Dixon is the President of Chatham Park South Cooperative.
What is the revenue of Chatham Park South Cooperative?
Chatham Park South Cooperative's revenue in 2022 was $2,459,136.
Who are the executives of Chatham Park South Cooperative and what are their salaries?
There are 8 employees at Chatham Park South Cooperative.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Chatham Park South Cooperative?
Chatham Park South Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Chatham Park South Cooperative
Chatham Park South Cooperative, as a nonprofit organization, is dedicated to providing senior and handicapped housing under the HUD Section 202 Loan Program. Their mission is to cater to the specific needs of elderly and handicapped individuals, offering them housing that is designed to cater to their physical, social, and psychological requirements. By offering such housing, the cooperative aims to enhance the quality of life for these individuals, ensuring they live in a safe and comfortable environment that caters to their unique requirements.
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Impact
October, 2024
Chatham Park South Cooperative significantly impacts the community by providing essential housing for elderly and handicapped individuals. By operating under the HUD Section 202 loan program, it ensures that residents have access to safe, affordable housing tailored to their needs. The cooperative not only offers a place to live but also delivers specially designed services that address the physical, social, and psychological challenges faced by its residents. This holistic approach fosters a supportive environment, promoting well-being and enhancing the quality of life for vulnerable populations in Chicago. Through these efforts, Chatham Park South Cooperative plays a vital role in empowering seniors and individuals with disabilities, helping them maintain independence while being part of a connected community.
This information is meant to be a general summary of Chatham Park South Cooperative. 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: $703
- Program Service Revenue: $2,443,266
- Gross Receipts: $2,459,136
Assets and Liabilities:
- Total Assets: $3,546,897
- Total Liabilities: $5,737,491
- Net Assets: -$2,190,594
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$2,443,266
Organization Details
Founding Year
2001
Phone
(773) 873-9480Principal Officer
Ms Pauline Dixon
Main Address
660 EAST 85TH STREET, CHICAGO, IL, 60619
NTEE Category
Code: L22 - Housing
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