Overview
What is Humboldt Park Elderly Housing Corp?
Humboldt Park Elderly Housing Corp is a nonprofit organization situated in Chicago, Illinois, specifically at 325 N Wells 8th Floor. Their primary mission is to offer safe, clean, and hygienic rental housing to the elderly population. This mission is jointly carried out with two other tax-exempt organizations, Hispanic Housing Development Corporation and Casa Central. The corporation manages an apartment complex dedicated to elderly residents, further enhancing the living conditions for this age group in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two Stars (Needs Improvement)
Humboldt Park Elderly Housing Corp has received a Two-Star out of Four Star rating from Charity Navigator, indicating that there are areas requiring improvement despite achieving a high score of 72%. The organization excels in accountability and finance, earning a perfect score of 100% in this category, which suggests strong financial practices and transparency.
One of the notable strengths of Humboldt Park Elderly Housing Corp is its high program expense ratio of 88.83%, indicating that a significant portion of its expenses are directed toward its mission-related programs. The organization also demonstrates effective governance practices, such as having a documented conflict of interest policy and a whistleblower policy. Additionally, the majority of board members are independent, which is a positive sign for governance.
However, the nonprofit faces challenges, particularly in the areas of board composition and financial health. While it has a good number of independent board members, it has only two independent members, leading to a low score in that category. Additionally, the liabilities to assets ratio of 167.08% raises concerns about the organization's financial stability. These issues highlight the importance of ongoing improvements to ensure long-term sustainability and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Humboldt Park Elderly Housing Corp legitimate?
Humboldt Park Elderly Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Humboldt Park Elderly Housing Corp 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: $178,131
For more financial information, click here
What is the mission statement of Humboldt Park Elderly Housing Corp?
Humboldt Park Elderly Housing Corp's mission is centered around providing safe, decent, and sanitary rental housing for the elderly population. This mission is carried out through the operation of an apartment complex, offering a secure living environment for the elderly. The corporation's work is supported by cooperative efforts with two tax-exempt organizations, Hispanic Housing Development Corporation and Casa Central.
Who is the CEO of Humboldt Park Elderly Housing Corp?
Hipolito Roldan is the President of Humboldt Park Elderly Housing Corp.
What is the revenue of Humboldt Park Elderly Housing Corp?
Humboldt Park Elderly Housing Corp's revenue in 2022 was $750,045.
Who are the executives of Humboldt Park Elderly Housing Corp and what are their salaries?
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $410,579
- Other: $64,610
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $167,672
- Other: $28,243
- Compensation: $0
- Related: $113,510
- Other: $32,312
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $114,379
- Other: $26,659
- Compensation: $0
- Related: $137,494
- Other: $17,702
- Compensation: $0
- Related: $218,356
- Other: $48,291
- Compensation: $0
- Related: $155,042
- Other: $28,810
Where can I find the form 990 for Humboldt Park Elderly Housing Corp?
Humboldt Park Elderly Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Humboldt Park Elderly Housing Corp
Humboldt Park Elderly Housing Corp, as a nonprofit organization, is dedicated to providing safe, decent, and sanitary rental housing for the elderly community. This mission is at the core of the corporation's activities, aiming to create an environment that caters to the unique needs of elderly residents. By offering such housing, the organization seeks to contribute positively to the well-being and quality of life of its residents.
The corporation's mission is not merely limited to providing housing. It also collaborates with other organizations, such as Hispanic Housing Development Corporation and Casa Central, both of which are tax-exempt entities. These partnerships enable Humboldt Park Elderly Housing Corp to extend its reach and provide a supportive living environment for the elderly. The organization's commitment to providing safe, decent, and sanitary housing reflects its dedication to ensuring the dignity and comfort of its elderly residents.
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Impact
October, 2024
Humboldt Park Elderly Housing Corp significantly enhances the quality of life for elderly residents by providing safe, decent, and sanitary rental housing in Chicago, IL. The organization operates an apartment complex specifically designed for seniors, addressing a crucial need for affordable and secure living arrangements within the community. By partnering with organizations like Hispanic Housing Development Corporation and Casa Central, they effectively leverage resources and expertise to create a supportive environment tailored to the needs of elderly individuals. This initiative not only ensures stable housing but also fosters a sense of community, allowing residents to maintain their independence while living in a secure and comfortable setting. The impact of this initiative extends beyond housing, contributing to the overall well-being of its residents and promoting healthy, engaged lifestyles among the elderly population in the area.
This information is meant to be a general summary of Humboldt Park Elderly Housing Corp. 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: $1,048
- Program Service Revenue: $733,922
- Gross Receipts: $750,045
Assets and Liabilities:
- Total Assets: $2,573,594
- Total Liabilities: $4,300,161
- Net Assets: -$1,726,567
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$728,625
LAUNDRY RECEIPTS
Revenue
$5,297
Organization Details
Founding Year
1991
Phone
(312) 602-6500Principal Officer
Hipolito Roldan
Main Address
325 N WELLS 8TH FLOOR, CHICAGO, IL, 60654
NTEE Category
Code: L80Z - Housing
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