Overview
What is Trinity Apartments Corporation?
Trinity Apartments Corporation, established in 1991, is a Minneapolis-based nonprofit organization that operates a 120-unit building for elderly and disabled individuals with low incomes. The organization, located at 614 North First Street No 100, provides subsidized housing through funding from the U.S. Department of Housing and Urban Development (HUD). Its mission is to offer decent and affordable housing for individuals with low to moderate incomes. Trinity Apartments Corporation aims to enhance the lives of its residents by ensuring they have access to secure, comfortable living arrangements.
What are the reviews and ratings of this charity?
Charity Navigator Rating 67% - Two-Star out of Four Star rating
Trinity Apartments Corporation received a Two-Star rating from Charity Navigator, indicating concerns primarily related to accountability and finance. The charity’s score is predominantly based on its accountability metrics, where it scored well in areas such as having a completely independent board and no material diversion of assets. However, the organization lacks essential financial statements, a conflict of interest policy, and other governance documents, which negatively impact its overall rating.
One of the strengths observed includes a strong program expense ratio of 100%, suggesting that all of its expenditures are directed towards its programs. Additionally, the organization has a commendable liabilities to assets ratio of 0.00%, indicating sound financial stability. However, the absence of required documentation and policies raises questions about transparency and governance practices.
While the charity demonstrates strong programmatic focus and financial stability, its lack of transparency and missing governance documents are significant limitations. Potential donors may want to seek more information regarding its operations and policies to ensure their contributions are managed responsibly.
This AI summary has been generated from information found on Charity Navigator.
Is Trinity Apartments Corporation legitimate?
Trinity Apartments Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Trinity Apartments Corporation 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: $61,296
For more financial information, click here
What is the mission statement of Trinity Apartments Corporation?
Trinity Apartments Corporation was established in 1991 to serve a crucial purpose in the community. Among its various objectives, the corporation aims to provide decent housing that is accessible to individuals with low and moderate incomes. This mission is carried out through the operation of a 120-unit building, specifically designed for elderly and disabled residents with limited financial resources. The rent for these units is subsidized by the Housing and Urban Development (HUD), allowing the corporation to fulfill its commitment to affordability. By offering decent, subsidized housing, Trinity Apartments Corporation contributes significantly to the well-being of its residents, improving their living conditions and providing them with a sense of stability.
Who is the CEO of Trinity Apartments Corporation?
Chris Maida is the President of Trinity Apartments Corporation.
What is the revenue of Trinity Apartments Corporation?
Trinity Apartments Corporation's revenue in 2020 was $12,866,465.
Who are the executives of Trinity Apartments Corporation and what are their salaries?
There 50 volunteers at Trinity Apartments Corporation.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Trinity Apartments Corporation?
Trinity Apartments Corporation's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Trinity Apartments Corporation
Trinity Apartments Corporation, a nonprofit organization established in 1991, is dedicated to providing decent housing that is affordable for individuals with low and moderate incomes. In pursuit of this mission, the corporation operates a 120-unit building that caters specifically to elderly and disabled individuals, ensuring they have access to affordable housing. The rent for these residents is subsidized by the Housing and Urban Development (HUD), making it a vital resource within the community.
Trinity Apartments Corporation's commitment to social responsibility goes beyond just offering affordable housing. By providing a safe and comfortable living environment, the organization enables its residents to focus on their wellbeing and personal growth. The Corporation's housing solutions not only meet the basic needs of its residents but also contribute to a sense of stability and security. In doing so, Trinity Apartments Corporation plays a pivotal role in enhancing the quality of life for its residents, allowing them to thrive and contribute positively to their communities.
The organization's unwavering dedication to its mission is reflected in its commitment to serving those who often face the greatest challenges in accessing affordable housing. By offering housing subsidies, Trinity Apartments Corporation creates opportunities for individuals who might not otherwise have access to decent housing. In turn, these individuals are able to focus on their personal and professional development, ultimately contributing to a stronger, more resilient community.
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Impact
October, 2024
Trinity Apartments Corporation plays a vital role in addressing housing needs for vulnerable populations in Minneapolis, Minnesota. By operating a 120-unit building specifically designed for elderly and disabled individuals with low incomes, Trinity Apartments Corporation ensures that these residents have access to safe, decent, and affordable housing. The rental assistance provided through HUD subsidies alleviates financial burdens, allowing residents to focus on their well-being and quality of life.
The impact extends beyond mere housing; it fosters a sense of community and belonging among residents who may otherwise face social isolation. By providing accessible living arrangements, Trinity Apartments Corporation contributes to the overall stability and dignity of its residents, promoting healthier, more integrated lifestyles. This model showcases the importance of affordable housing initiatives in enhancing the quality of life for low and moderate-income individuals while addressing critical issues of homelessness and housing insecurity in the area.
This information is meant to be a general summary of Trinity Apartments Corporation. 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 2020.
- Investment Income: $12,539,123
- Program Service Revenue: $327,342
- Gross Receipts: $13,828,294
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOUSING ASST PYMTS
Revenue
$217,066
TENANT RENTS
Revenue
$93,966
OTHER
Revenue
$16,310
Organization Details
Founding Year
1991
Phone
(612) 332-6264Principal Officer
Chris Maida
Main Address
614 NORTH FIRST STREET NO 100, MINNEAPOLIS, MN, 55401
NTEE Category
Code: L80Z - Housing
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