Overview
What is Cambridge Manor Tenant Council?
Cambridge Manor Tenant Council is a housing nonprofit situated in Chicago, Illinois, managing a 312-unit apartment complex. It receives financial support through a HUD grant under the Low-Income Housing Preservation and Homeownership Act of 1990. The Council's primary purpose is to offer affordable housing options for individuals with lower to moderate incomes, aligning with its mission to serve and uplift this community segment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Stars)
Cambridge Manor Tenant Council has received a Two-Star rating from Charity Navigator, primarily due to its Accountability & Finance score. While the organization demonstrates strong governance with a fully independent board and a high program expense ratio, significant weaknesses in its financial transparency have been noted. The absence of essential policies, such as conflict of interest and whistleblower protections, raises concerns about its operational oversight.
The organization excels in documenting board meeting minutes and has established an Audit and Oversight Committee, which reflects its commitment to maintaining accountability. However, the high liabilities to assets ratio indicates potential financial instability. This suggests a need for improved financial management practices to enhance overall organizational health.
Despite these challenges, Cambridge Manor Tenant Council's commitment to serving its mission effectively is evident through its full allocation of program expenses. Moving forward, addressing the identified weaknesses in policy documentation and transparency will be crucial for improving its rating and overall effectiveness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Cambridge Manor Tenant Council legitimate?
Cambridge Manor Tenant Council is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cambridge Manor Tenant Council 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: $759,219
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What is the mission statement of Cambridge Manor Tenant Council?
The Cambridge Manor Tenant Council is an organization dedicated to providing affordable housing solutions for individuals with low to moderate income levels. Funded by a HUD grant under the Low-Income Housing Preservation and Homeownership Act of 1990, its mission is centered around ensuring accessible and reasonably priced housing options. The organization operates a 312-unit apartment complex, serving as a vital resource for those in need of such accommodations.
Who is the CEO of Cambridge Manor Tenant Council?
Carla M Gross is the Imm Past Pres of Cambridge Manor Tenant Council.
What is the revenue of Cambridge Manor Tenant Council?
Cambridge Manor Tenant Council's revenue in 2022 was $4,239,382.
Who are the executives of Cambridge Manor Tenant Council and what are their salaries?
There 20 volunteers at Cambridge Manor Tenant Council.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Cambridge Manor Tenant Council?
Cambridge Manor Tenant Council's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cambridge Manor Tenant Council
The Cambridge Manor Tenant Council is a dedicated housing organization that strives to provide affordable living spaces for individuals with low to moderate incomes. Funded by a grant under the Low-Income Housing Preservation and Homeownership Act of 1990, this nonprofit operates a 312-unit apartment complex. At its core, the mission of the Cambridge Manor Tenant Council is to ensure that these residences remain accessible and economically feasible for the community they serve.
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Impact
October, 2024
Cambridge Manor Tenant Council plays a crucial role in fostering stability and community among low to moderate income residents in Chicago. By managing a 312-unit apartment complex, the council ensures that affordable housing options remain accessible to those who might otherwise struggle to secure safe and reliable living conditions.
The council's oversight helps to maintain the quality of housing, advocate for residents' rights, and facilitate communication between tenants and management. Through its efforts, it empowers residents to voice their concerns, creating a supportive environment that encourages community engagement and collaboration. Furthermore, the council’s funding through a HUD grant underscores its commitment to upholding the standards set forth in the Low-Income Housing Preservation and Homeownership Act, which is essential for the ongoing viability of affordable housing in the area.
Overall, Cambridge Manor Tenant Council significantly contributes to the well-being of its residents, enhancing their living conditions and promoting a sense of belonging within the community.
This information is meant to be a general summary of Cambridge Manor Tenant Council. 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: $865
- Program Service Revenue: $4,092,832
- Gross Receipts: $4,239,382
Assets and Liabilities:
- Total Assets: $10,990,603
- Total Liabilities: $9,604,704
- Net Assets: $1,385,899
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LAUNDRY AND VENDING
Revenue
$24,281
TENANT CHARGES
Revenue
$41,349
UNIT RENTALS
Revenue
$4,027,202
Organization Details
Founding Year
1996
Phone
(312) 527-7453Principal Officer
Carla M Gross
Main Address
c/o MGMT OFFICE 2631 S INDIANA, CHICAGO, IL, 60616
NTEE Category
Code: L200 - Housing
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