Overview
What is Lake View Towers Residents Association Inc?
Lake View Towers Residents Association Inc is a nonprofit organization situated in Chicago, Illinois. Its primary mission is to offer and maintain safe and affordable housing for individuals and families with low to moderate incomes. During the reporting period, they managed Lake View Towers, a 500-unit affordable housing project in Chicago, benefiting its residents. Their operations encompass ensuring the property's maintenance and upkeep, contributing positively to the community.
What are the reviews and ratings of this charity?
**Rating: Needs Improvement (Charity Navigator)**
Lake View Towers Residents Association Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement. The rating, based solely on its Accountability & Finance score of 71%, suggests that while the organization exhibits strong governance with full independence among board members and proper financial oversight, there are notable weaknesses in transparency and policy documentation.
The association excels in certain financial management areas, such as maintaining a 100% program expense ratio, reflecting a focus on its core mission activities. However, the absence of key policies (like conflict of interest and whistleblower policies) and transparency in making documents accessible on their website have negatively impacted its overall rating. Additionally, the high liabilities to assets ratio raises concerns regarding financial stability.
User reviews from GreatNonprofits were not available for this organization, limiting the insights into community sentiment and direct feedback from members or beneficiaries. Overall, while the organization demonstrates strengths in governance, addressing its transparency issues may enhance its reputation and effectiveness in serving the community.
This AI summary has been generated from information found on Charity Navigator.
Is Lake View Towers Residents Association Inc legitimate?
Lake View Towers Residents Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake View Towers Residents Association Inc 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: $844,365
For more financial information, click here
What is the mission statement of Lake View Towers Residents Association Inc?
The Lake View Towers Residents Association Inc has a mission to provide and maintain safe and affordable housing for individuals and families with low to moderate incomes. This organization actively operates and maintains Lake View Towers, a 500-unit affordable housing project, with the primary goal of benefiting those in need during the reporting period. By offering secure and reasonably priced living spaces, the association aims to contribute positively to the community and ensure that individuals and families can reside in a comfortable environment.
Who is the CEO of Lake View Towers Residents Association Inc?
Diane Santucci is the Asst. Secretary of Lake View Towers Residents Association Inc.
What is the revenue of Lake View Towers Residents Association Inc?
Lake View Towers Residents Association Inc's revenue in 2022 was $9,205,558.
Who are the executives of Lake View Towers Residents Association Inc and what are their salaries?
There 20 volunteers at Lake View Towers Residents Association Inc.
Here are 5 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
Where can I find the form 990 for Lake View Towers Residents Association Inc?
Lake View Towers Residents Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lake View Towers Residents Association Inc
Lake View Towers Residents Association Inc is committed to providing and maintaining safe and affordable housing for individuals and families with low to moderate income. Their mission is centered around operating and maintaining Lake View Towers, a 500-unit affordable housing project, with the primary goal of benefiting those in need during the reporting period. This organization plays a crucial role in ensuring that low-income individuals and families have access to secure and affordable housing. By doing so, Lake View Towers Residents Association Inc contributes to the well-being of its community, providing a stable living environment that is essential for maintaining a healthy and productive lifestyle.
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
Lake View Towers Residents Association Inc plays a vital role in the community by ensuring that safe and affordable housing is accessible to low to moderate-income individuals and families in Chicago. By operating and maintaining Lake View Towers, a 500-unit affordable housing project, the association directly contributes to the well-being of residents who may otherwise struggle to find secure housing options.
The organization enhances the quality of life for its residents, providing them with a stable home environment that fosters community cohesion and support. This commitment to maintaining affordable living spaces not only alleviates housing insecurity but also promotes social equity within the city. The impact of Lake View Towers Residents Association is profound, as it empowers individuals and families to thrive in a supportive and economically viable setting.
This information is meant to be a general summary of Lake View Towers Residents Association Inc. 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: $6,737
- Program Service Revenue: $8,911,659
- Gross Receipts: $9,205,558
Assets and Liabilities:
- Total Assets: $45,962,939
- Total Liabilities: $64,018,050
- Net Assets: -$18,055,111
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.
RENTAL RECEIPTS
Revenue
$8,911,659
Organization Details
Founding Year
2004
Phone
(773) 286-5400Principal Officer
Diane Santucci
Main Address
C/O LMCI 5618 N MILWAUKEE AVE, CHICAGO, IL, 60646
NTEE Category
Code: L20Z - Housing
If you are a representative of Lake View Towers Residents Association Inc 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.