Overview
What is Spring Lake Presbyterian Housing Co?
Spring Lake Presbyterian Housing Co, operating under the name Evergreen Village Apartments, is a nonprofit organization situated in Spring Lake, Michigan. Its primary mission is to offer affordable housing and supportive services tailored to the needs of elderly and disabled individuals. The complex consists of 60 units, with occupancy consistently high throughout the year. The nonprofit's goal is to enhance the quality of life for its residents, ensuring their physical, social, and psychological well-being. The charges for these facilities and services are set on a break-even basis, demonstrating the organization's commitment to making its offerings accessible to its target population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Star rating)
Spring Lake Presbyterian Housing Co D/B/A Evergreen Village Apartments has received a Two-Star rating, indicating that while it meets some standards of accountability and transparency, there are significant areas where improvements are needed. The organization boasts a strong accountability score, with 100% of its board members being independent and a solid financial oversight structure in place.
Notably, the organization excels in its program expense ratio, which stands at an impressive 98.37%, highlighting that a significant majority of its expenses go directly towards its mission-related activities. Additionally, it has demonstrated effective governance by documenting board meeting minutes and ensuring no material diversion of assets. However, the high liabilities to assets ratio of 121.08% raises concerns regarding financial health and sustainability.
Overall, while Evergreen Village Apartments exhibits strong governance and a commitment to its mission, potential donors and stakeholders should consider the financial vulnerability indicated by its liabilities. Addressing these financial challenges could enhance its overall impact and stability in the long term.
This AI summary has been generated from information found on Charity Navigator.
Is Spring Lake Presbyterian Housing Co legitimate?
Spring Lake Presbyterian Housing Co is a legitimate nonprofit organization registered as a 501(c)(3) entity. Spring Lake Presbyterian Housing Co 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: $126,567
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What is the mission statement of Spring Lake Presbyterian Housing Co?
Spring Lake Presbyterian Housing Co, operating as Evergreen Village Apartments, is committed to providing low-cost housing facilities and services tailored to meet the needs of elderly and handicapped individuals. Their mission is to promote the health, security, happiness, and usefulness of these individuals through longer living, ensuring their physical, social, and psychological needs are catered to. The charges for these facilities and services are based on a break-even basis, indicating a focus on affordability without compromising quality. The complex, housing 60 residents, maintains nearly 100% occupancy throughout the year, demonstrating its effectiveness in fulfilling its mission.
Who is the CEO of Spring Lake Presbyterian Housing Co?
Wendy Swenson is the Director of Spring Lake Presbyterian Housing Co.
What is the revenue of Spring Lake Presbyterian Housing Co?
Spring Lake Presbyterian Housing Co's revenue in 2023 was $526,106.
Who are the executives of Spring Lake Presbyterian Housing Co and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Spring Lake Presbyterian Housing Co?
Spring Lake Presbyterian Housing Co's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Spring Lake Presbyterian Housing Co
Spring Lake Presbyterian Housing Co D/B/A Evergreen Village Apartments is committed to providing elderly and/or handicapped individuals with affordable housing facilities and services tailored to meet their unique needs. The organization's mission is to create an environment that caters to the physical, social, and psychological needs of its residents, promoting their health, security, happiness, and usefulness through longer living. The charges for these facilities and services are set on a breakeven basis, ensuring that the needs of the residents are the primary focus, rather than profit. The complex, home to 60 residents, maintains nearly 100% occupancy throughout the year, demonstrating its success in meeting the needs of its community.
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Impact
July, 2024
Spring Lake Presbyterian Housing Co D/B/A Evergreen Village Apartments impacts the community by providing elderly and/or handicapped individuals with low-cost housing facilities and services specially designed to meet their physical, social, and psychological needs. By promoting their health, security, happiness, and usefulness through longer living, this organization plays a crucial role in supporting vulnerable populations in maintaining a high quality of life. With a nearly 100% occupancy rate throughout the year, Evergreen Village Apartments ensures that those in need have access to affordable housing options tailored to their specific requirements, contributing to a more inclusive and compassionate society.
This information is meant to be a general summary of Spring Lake Presbyterian Housing Co. 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: $2,798
- Program Service Revenue: $518,749
- Gross Receipts: $526,106
Assets and Liabilities:
- Total Assets: $1,081,917
- Total Liabilities: $1,386,195
- Net Assets: -$304,278
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE PMTS
Revenue
$260,757
TENANT RENTAL PAYMENTS
Revenue
$250,377
SLPHC INCOME
Revenue
$3,934
TENANT CARPORT RENTALS
Revenue
$3,133
LATE FEES & OTHER
Revenue
$548
Organization Details
Founding Year
1980
Phone
(616) 459-4556Principal Officer
Wendy Swenson
Main Address
217 DEWITT LANE, SPRING LAKE, MI, 49456
NTEE Category
Code: P75Z - Human services
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