Overview
What is Abbey Road Inc?
Abbey Road Inc, established with the goal of supporting Penny Lane Centers, is a nonprofit organization located in North Hills, California. Primarily focused on affordable housing, Abbey Road identifies, develops, and operates properties for low-income, transitional, and permanent housing residents. They currently manage seven properties and hold a general partner interest in seven additional properties, collectively providing housing for 623 individuals. Abbey Road's mission is to foster aspirations and dreams by creating safe and affordable living environments for children, adults, and families. Their ultimate goal is to help build better futures and strengthen communities.
Is Abbey Road Inc legitimate?
Abbey Road Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Abbey Road 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: $584,491
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What is the mission statement of Abbey Road Inc?
Abbey Road Inc, a nonprofit organization, is dedicated to fostering hopes and dreams by creating safe and affordable housing environments. Their mission is to help children, adults, and families build brighter futures and strengthen communities. Through their rental and development activities, they identify, develop, and operate properties for low-income, transitional, and permanent housing. Currently, they wholly own seven properties and hold a general partner interest in seven more, totaling 623 units. These housing solutions aim to provide a solid foundation, enabling individuals and families to strive for a better life.
What is the revenue of Abbey Road Inc?
Abbey Road Inc's revenue in 2023 was $2,658,480.
Who are the executives of Abbey Road Inc and what are their salaries?
Here are 9 key members and their salaries:
- Compensation: $211,657
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- Other: $0
- Compensation: $110,834
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Abbey Road Inc?
Abbey Road Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Abbey Road Inc
Abbey Road, a nonprofit organization, is committed to fostering hopes and dreams by developing safe and affordable housing environments. Their mission is to support children, adults, and families, enabling them to build brighter futures and strengthen communities. By identifying, developing, and operating properties for low-income, transitional, and permanent housing, Abbey Road aims to provide individuals and families with a solid foundation, helping them toward a more secure living situation. The organization currently owns seven properties and holds a general partner interest in seven more, totalling 623 units.
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Impact
October, 2024
Abbey Road Inc plays a significant role in addressing the affordable housing crisis in North Hills, CA, by focusing on the development and operation of safe housing for low-income individuals and families. By identifying and creating transitional and permanent housing solutions, Abbey Road aims to foster stability and hope for those in need. With ownership of seven properties and a partnership interest in an additional seven, Abbey Road Inc manages a total of 623 housing units, providing vital support to the community.
The organization’s mission is centered on creating environments where children, adults, and families can thrive, thereby contributing to stronger communities. Through its rental and development activities, Abbey Road Inc not only increases the availability of affordable housing but also enhances the potential for residents to build brighter futures. This impact extends beyond mere housing; it fosters a sense of security and belonging, which is essential for personal and communal growth.
This information is meant to be a general summary of Abbey Road 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 2023.
- Investment Income: $13,099
- Program Service Revenue: $1,272,014
- Gross Receipts: $2,658,480
Assets and Liabilities:
- Total Assets: $9,103,681
- Total Liabilities: $9,752,649
- Net Assets: -$648,968
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEE INCOME
Revenue
$1,249,833
PARTNERSHIP MANAGEMENT FEE
Revenue
$22,181
Organization Details
Founding Year
2009
Principal Officer
Bernie Lafianza
NTEE Category
Code: P113 - Human services
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