Overview
What is Thi-13 Inc?
Thi-13 Inc, established as a nonprofit social service agency, is dedicated to supporting individuals grappling with severe and persistent mental illness. Located in Chicago Heights, Illinois, they operate an 8-unit apartment building known as Chicago Heights Apartments, designed to cater to the physical, social, and psychological needs of their residents. The project, regulated by the U.S. Department of Housing and Urban Development (HUD), offers one-year lease terms and provides housing facilities and services tailored to the unique challenges faced by those recovering from mental illness. The project's operations are overseen by The Thresholds, a related nonprofit organization that provides rehabilitative services, management, accounting, and administrative services to Thi-13 Inc, in exchange for a management fee.
Official website here: www.thresholds.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
Thi-13 Inc has received an overall score of 82% from Charity Navigator, indicating a solid performance in accountability and finance. The organization demonstrates strong governance practices, including a fully independent board and comprehensive policies related to conflicts of interest and whistleblower protections. Their program expense ratio is commendable at 82.11%, reflecting a significant allocation of resources towards their mission.
However, the organization faces a notable concern with a liabilities to assets ratio of 228.39%, which indicates potential financial vulnerability. While they excel in various governance metrics, this high ratio suggests that the liabilities may significantly outweigh their assets, an area that could be improved. Overall, Thi-13 Inc appears to operate with a transparent and responsible approach but may need to address its financial structure for long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Thi-13 Inc legitimate?
Thi-13 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Thi-13 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: $53,986
For more financial information, click here
Official website here: www.thresholds.org
What is the mission statement of Thi-13 Inc?
Thi-13 Inc, as a nonprofit social service agency, is dedicated to providing housing facilities and services tailored to meet the physical, social, and psychological needs of individuals undergoing recovery from severe and persistent mental illness. The organization's mission is to create an environment that caters to the unique challenges these individuals face during their recovery process. They own and operate an 8-unit apartment building, subject to a mortgage obtained under the provisions of Section 811 of the National Housing Act. The apartments are typically leased for one-year terms and regulated by the U.S. Department of Housing and Urban Development (HUD) regarding rents and operating methods. Certain capital costs not approved by HUD have been funded by an advance from The Thresholds, a related nonprofit agency that provides rehabilitative services to former mental patients and offers management, accounting, and administrative services to Thi-13 Inc for a fee.
Official website here: www.thresholds.org
Who is the CEO of Thi-13 Inc?
Al Shoreibah is the President of Thi-13 Inc. The CEO's salary of Thi-13 Inc is $0 and their total compensation is $451,372.
Official website here: www.thresholds.org
What is the revenue of Thi-13 Inc?
Thi-13 Inc's revenue in 2022 was $118,442.
Official website here: www.thresholds.org
Who are the executives of Thi-13 Inc and what are their salaries?
There 50 volunteers at Thi-13 Inc.
Here are 61 key members and their salaries (Thi-13 Inc's CEO's salary is $0 and their total compensation is $451,372):
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- Related: $34,768
- Other: $0
Official website here: www.thresholds.org
Where can I find the form 990 for Thi-13 Inc?
Thi-13 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thresholds.org
Learn more at the official website: www.thresholds.org
Mission Statement of Thi-13 Inc
Thi-13 Inc, a nonprofit social service agency, is dedicated to providing housing facilities and services specifically designed to cater to the physical, social, and psychological needs of individuals battling severe and persistent mental illness. The organization's mission is to offer a supportive environment that aids in the recovery process for these individuals, helping them to rebuild their lives. To accomplish this, Thi-13 Inc operates an 8-unit apartment building in Chicago Heights, Illinois, known as Chicago Heights Apartments. These apartments are leased for one-year terms and are regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rents and operating methods. The project also receives capital contributions, such as the $167,842 advance from The Thresholds, which will not be repaid for at least forty years. The Thresholds, a related nonprofit organization, provides rehabilitative services to former mental patients and offers management, accounting, and administrative services to the project for a management fee. The project's activities are overseen by The Thresholds' Board of Directors.
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Impact
October, 2024
Thi-13 Inc makes a significant impact by providing specialized housing and support services for individuals recovering from severe and persistent mental illness. Through its Chicago Heights Apartments, the organization offers a stable living environment designed to address the unique physical, social, and psychological needs of residents. This framework fosters a sense of community and belonging, crucial for those navigating the challenges of mental health recovery.
By securing regulation and oversight through the U.S. Department of Housing and Urban Development, Thi-13 Inc ensures that the apartments maintain affordability and high standards of operation. Additionally, the collaboration with The Thresholds, which provides rehabilitative services and other vital support, enhances the overall effectiveness of their approach.
Overall, Thi-13 Inc plays a vital role in enhancing the quality of life for individuals in recovery, helping to rebuild their confidence, independence, and integration into the community. This holistic focus on housing and well-being contributes to more stable outcomes for some of the most vulnerable members of society.
This information is meant to be a general summary of Thi-13 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: $162
- Program Service Revenue: $118,280
- Gross Receipts: $118,442
Assets and Liabilities:
- Total Assets: $537,946
- Total Liabilities: $1,114,382
- Net Assets: -$576,436
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT SUBSIDY
Revenue
$86,663
RESIDENTIAL FEES
Revenue
$31,617
Organization Details
Founding Year
1997
Phone
(773) 572-5500Principal Officer
Al Shoreibah
Main Address
4101 N RAVENSWOOD, CHICAGO, IL, 60613
Website
www.thresholds.orgNTEE Category
Code: L22 - Housing
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