Overview
What is Northwest Towers Residents Association?
The Northwest Towers Residents Association is a nonprofit organization situated in Chicago, Illinois, specifically at 1170 W Erie St, 60622. Their primary mission is to manage a property funded by the U.S. Department of Housing and Urban Development (HUD), providing housing for low to moderate-income individuals and families. With a staff of 7 dedicated employees, they work tirelessly to ensure the property's smooth operation. Their focus on affordable housing plays a crucial role in supporting the local community, providing a vital service that makes housing more accessible for many.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
The Northwest Towers Residents Association has achieved a respectable Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial management. The organization's score is particularly strong in areas like having a fully independent board and a comprehensive audit and oversight committee, which reflects well on their governance practices.
Strengths of the association include a high program expense ratio of 94.45%, demonstrating a commitment to utilizing the majority of their resources towards their programs and services. Additionally, the presence of policies related to conflict of interest and whistleblower protections suggests a well-structured operational framework, aimed at promoting transparency and ethical conduct.
However, while the overall score is commendable, it is important to note that their rating is based solely on accountability and finance. There may be other aspects of their performance and impact not fully captured in this score, which could provide a more complete picture of the organization's effectiveness in serving its community.
This AI summary has been generated from information found on Charity Navigator.
Is Northwest Towers Residents Association legitimate?
Northwest Towers Residents Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northwest Towers Residents 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: $235,397
For more financial information, click here
What is the mission statement of Northwest Towers Residents Association?
The Northwest Towers Residents Association's primary role is to manage a property funded by the U.S. Department of Housing and Urban Development (HUD), providing housing for individuals and families with moderate to low income levels. Their mission, as stated, is to operate this HUD property, ensuring it remains accessible and affordable for its intended demographic. The association's activities are centered around maintaining and managing this HUD property, thereby contributing to the community by offering affordable housing solutions.
Who is the CEO of Northwest Towers Residents Association?
Faye Jenkins is the Director of Northwest Towers Residents Association.
What is the revenue of Northwest Towers Residents Association?
Northwest Towers Residents Association's revenue in 2022 was $2,495,637.
Who are the executives of Northwest Towers Residents Association and what are their salaries?
The average compensation at Northwest Towers Residents Association during 2022 was $33,628. There are 7 employees and 7 volunteers at Northwest Towers Residents Association.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Northwest Towers Residents Association?
Northwest Towers Residents Association's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Northwest Towers Residents Association
Northwest Towers Residents Association, as per its activity or mission description, is dedicated to the operation of a HUD property, providing housing for individuals and families with low to moderate incomes. This nonprofit organization's primary focus is on managing a housing unit that caters to this specific income bracket, ensuring affordable living options for those who may not have access to such opportunities otherwise. The association's role is instrumental in offering a secure and comfortable living environment for these individuals, contributing positively to their daily lives and overall community.
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Impact
October, 2024
The Northwest Towers Residents Association plays a vital role in providing stable housing for low to moderate-income individuals and families in Chicago, Illinois. By operating a HUD property, the association ensures access to affordable living spaces that meet essential needs, fostering a sense of community among residents. Their efforts contribute to improved quality of life, stability, and security for those who may otherwise struggle to find suitable housing. Additionally, the association supports residents through various initiatives, enhancing community engagement and promoting a supportive environment for all individuals and families within their properties.
This information is meant to be a general summary of Northwest Towers Residents 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: $18,233
- Program Service Revenue: $755,078
- Gross Receipts: $2,495,637
Assets and Liabilities:
- Total Assets: $19,386,171
- Total Liabilities: $18,263,817
- Net Assets: $1,122,354
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT REVENUE, AT NET
Revenue
$736,510
LAUNDRY AND VENDING
Revenue
$18,155
OTHER
Revenue
$413
Organization Details
Founding Year
1996
Phone
(312) 633-9057Principal Officer
Faye Jenkins
Main Address
1170 W ERIE ST, CHICAGO, IL, 60622
NTEE Category
Code: L20Z - Housing
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