Overview
What is Cda Midway Plaisance Association?
Cda Midway Plaisance Association is a nonprofit organization situated in Chicago, Illinois, specifically at 731 E 60TH STREET. Their primary mission is to provide affordable housing for low-income elderly individuals, catering to households with at least one member aged 62 or older. The organization manages a 52-unit apartment building as part of this mission. The project is regulated by HUD and is funded through a Section 202 Capital Advance Grant. The Cda Midway Plaisance Association covers all rental and operational expenses for the exempt purpose of this project. With a small staff of 11 employees, the organization is dedicated to ensuring affordable housing options for this specific demographic.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%
Cda Midway Plaisance Association has earned a Three-Star out of Four Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The organization has a high program expense ratio of approximately 89.94%, suggesting that a significant portion of its funds is directed toward its programs rather than administrative costs. The charity demonstrates strong governance practices with 100% independent board members and well-defined policies in place, such as conflict of interest and whistleblower policies.
Additionally, all financial statements are audited, and there have been no material diversions of assets reported. This transparency and commitment to good governance reflect positively on the organization's integrity and operational effectiveness. The board meeting minutes are documented, further enhancing the accountability standards of the association.
While the organization shows many strengths in governance and financial management, the overall rating of 79% leaves some room for improvement. Stakeholders may want to monitor how the organization continues to evolve in response to any challenges it faces in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Cda Midway Plaisance Association legitimate?
Cda Midway Plaisance Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cda Midway Plaisance Association 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: $156,803
For more financial information, click here
What is the mission statement of Cda Midway Plaisance Association?
The Cda Midway Plaisance Association was established with a mission to provide affordable housing for households with very low income, specifically those aged 62 or older. The organization's primary objective is to develop, own, and manage an affordable housing project. This project serves as a residence for eligible individuals, offering them a place to live at affordable prices. The organization's activities are regulated by the HUD and are subject to a Section 202 Capital Advance Grant, ensuring compliance with necessary standards and provisions.
Who is the CEO of Cda Midway Plaisance Association?
C Oliver is the Principal Officer of Cda Midway Plaisance Association.
What is the revenue of Cda Midway Plaisance Association?
Cda Midway Plaisance Association's revenue in 2022 was $541,279.
Who are the executives of Cda Midway Plaisance Association and what are their salaries?
The average compensation at Cda Midway Plaisance Association during 2022 was $14,255. There are 11 employees at Cda Midway Plaisance Association.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $384,300
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Cda Midway Plaisance Association?
Cda Midway Plaisance Association's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cda Midway Plaisance Association
Cda Midway Plaisance Association, a nonprofit organization, was established with a mission to provide affordable housing for elderly individuals with very low incomes. The organization has dedicated itself to developing, owning, and operating an affordable housing project specifically designed for this demographic. Their efforts aim to address the housing needs of this vulnerable population, ensuring they have access to safe and affordable living spaces. The organization's project, a 52-unit apartment building, is subject to regulations by the U.S. Department of Housing and Urban Development (HUD) and is supported by a Section 202 Capital Advance Grant. This grant helps cover the rental and operational expenses associated with the project, ensuring the affordable housing remains accessible and sustainable.
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Impact
July, 2024
Cda Midway Plaisance Association's impact is evident in their provision of affordable housing for low-income elderly individuals in Chicago, IL. Through their 52-unit apartment building, the organization addresses the housing needs of very low-income households aged 62 or older. By offering affordable and regulated housing under the HUD Section 202 Capital Advance Grant, Cda Midway Plaisance Association directly contributes to improving the quality of life for elderly individuals in need of safe and stable housing options.
This information is meant to be a general summary of Cda Midway Plaisance Association. 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: $140
- Program Service Revenue: $541,139
- Gross Receipts: $541,279
Assets and Liabilities:
- Total Assets: $2,409,608
- Total Liabilities: $5,776,524
- Net Assets: -$3,366,916
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME
APARTMENT RENT
Revenue
$541,139
Organization Details
Founding Year
1993
Phone
(630) 789-6709Principal Officer
C Oliver
Main Address
731 E 60TH STREET, CHICAGO, IL, 60637
NTEE Category
Code: L210 - Housing
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