Overview
What is Gering Elderly Housing Corporation?
The Gering Elderly Housing Corporation, situated in Gering, Nebraska, is a nonprofit organization dedicated to offering affordable housing solutions for the elderly with limited income. Regulated by the Department of Housing and Urban Development under Section 202 of the National Housing Act, the corporation operates 24 housing units, catering to a fluctuating number of residents. Their primary objective is to provide a clean and safe living environment for this specific demographic. With a small workforce of three individuals, the Gering Elderly Housing Corporation plays a crucial role in supporting the elderly population in its local community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65%, Two-Star out of Four Star Rating
Gering Elderly Housing Corporation has received a 65% rating from Charity Navigator, which translates to a Two-Star rating. This score reflects the organization's performance in accountability and finance, indicating some strengths alongside notable challenges. Key highlights include a perfect score for having an independent board, documenting board meeting minutes, and a strong program expense ratio of 84.65%, suggesting that a significant portion of its expenses is directed towards its programs.
However, the organization faces significant concerns regarding its financial health, evidenced by a liabilities to assets ratio of 332.60%, which resulted in a zero score in that category. This suggests that the organization may be under financial strain, which could impact its ability to sustain operations and effectively serve its community in the long term. Overall, while Gering Elderly Housing Corporation demonstrates solid governance practices, its financial challenges represent a critical area for improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Gering Elderly Housing Corporation legitimate?
Gering Elderly Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Gering Elderly Housing 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: $14,046
For more financial information, click here
What is the mission statement of Gering Elderly Housing Corporation?
The Gering Elderly Housing Corporation's primary mission is to provide affordable, clean housing for low-income elderly residents. This is done under Section 202 of the National Housing Act, which is overseen by the Department of Housing and Urban Development. The corporation operates twenty-four housing units, with the number of tenants frequently changing. Their goal is to provide a safe and comfortable living environment for this specific demographic, ensuring they have a decent place to call home.
What is the revenue of Gering Elderly Housing Corporation?
Gering Elderly Housing Corporation's revenue in 2024 was $176,049.
Who are the executives of Gering Elderly Housing Corporation and what are their salaries?
The average compensation at Gering Elderly Housing Corporation during 2024 was $4,682. There are 3 employees at Gering Elderly Housing Corporation.
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Gering Elderly Housing Corporation?
Gering Elderly Housing Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Gering Elderly Housing Corporation
Gering Elderly Housing Corporation, a nonprofit organization, is dedicated to providing low-cost and clean housing for elderly individuals with limited income. Regulated by the Department of Housing and Urban Development under Section 202 of the National Housing Act, this corporation operates 24 housing units, accommodating a continuously changing number of tenants. The corporation's mission is to ensure that elderly residents have access to safe and affordable housing, contributing to their overall well-being and livelihood.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Gering Elderly Housing Corporation significantly enhances the quality of life for low-income elderly residents by providing affordable and clean housing options. By operating 24 dedicated housing units, it ensures that vulnerable seniors have access to stable living conditions, which is crucial for their well-being. The organization adheres to regulations set forth by the Department of Housing and Urban Development under the National Housing Act, demonstrating a commitment to maintaining high standards of safety and comfort.
The impact of Gering Elderly Housing Corporation extends beyond mere accommodation; it fosters a community environment that can alleviate feelings of isolation often experienced by seniors. As the number of tenants fluctuates, the organization adapts to the specific needs of its residents, ensuring that each individual receives the support and care they require. This arrangement not only promotes social interaction but also helps to maintain dignity and independence for elderly individuals facing financial challenges.
By prioritizing low-cost housing, Gering Elderly Housing Corporation plays a vital role in addressing the housing crisis for the elderly population in Gering, Nebraska. Its mission not only alleviates housing insecurity but also contributes to a healthier, more stable community where seniors can thrive.
This information is meant to be a general summary of Gering Elderly Housing 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 2024.
- Investment Income: $1,937
- Program Service Revenue: $126,117
- Gross Receipts: $176,049
Assets and Liabilities:
- Total Assets: $294,200
- Total Liabilities: $978,533
- Net Assets: -$684,333
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DWELLING RENTAL
Revenue
$126,117
Organization Details
Founding Year
1987
Principal Officer
Steve Peregrine
NTEE Category
Code: L80Z - Housing
If you are a representative of Gering Elderly Housing Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.