Overview
What is Oak Non-Profit Apartments Inc?
Oak Non-Profit Apartments Inc, established in December 1981, is a Michigan-based nonprofit housing corporation. It was founded in cooperation with Cooperative Services Inc, another nonprofit entity, with the purpose of acquiring and developing an apartment project in Royal Oak, Michigan. The project, consisting of 211 units, is specifically designed for low-income senior citizens. This nonprofit organization aligns its mission with the United States Department of Housing and Urban Development, providing affordable housing facilities that cater to the needs of elderly individuals with limited income.
Official website here: www.csi.coop
What are the reviews and ratings of this charity?
Charity Navigator rating: 81%, Three-Star out of Four Star rating.
Oak Non-Profit Apartments Inc has received a solid Three-Star rating from Charity Navigator, reflecting a commendable 81% in accountability and finance. This score indicates the organization demonstrates strong financial practices and transparency, essential for building trust with donors and stakeholders. The overall rating is based solely on the accountability and finance beacon, showcasing the organization’s commitment to ethical management.
The nonprofit excels in various governance aspects, including having a fully independent board and comprehensive financial oversight mechanisms in place. Its board consists entirely of independent members, which enhances the integrity of its decision-making processes. Additionally, the organization maintains robust policies regarding conflict of interest, whistleblower protections, and document retention, ensuring a thorough approach to governance and accountability.
While the score is positive, it is important to note that no other beacons were evaluated, which limits the assessment to financial accountability alone. Potential donors and supporters may want to consider the organization’s programmatic impact and effectiveness in addition to its financial management when evaluating its overall mission and contributions to the community.
This AI summary has been generated from information found on Charity Navigator.
Is Oak Non-Profit Apartments Inc legitimate?
Oak Non-Profit Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oak Non-Profit Apartments 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: $0
For more financial information, click here
Official website here: www.csi.coop
What is the mission statement of Oak Non-Profit Apartments Inc?
Oak Non-Profit Apartments Inc, as a non-profit organization, is dedicated to providing housing facilities for low-income senior citizens. Established in cooperation with the US Department of Housing and Urban Development, the corporation's primary objective is to acquire property and construct apartments specifically designed for this demographic. By offering affordable housing, the organization aims to contribute positively to the lives of elderly individuals with limited income, enhancing their living standards and ensuring they have a secure and comfortable place to reside.
Official website here: www.csi.coop
What is the revenue of Oak Non-Profit Apartments Inc?
Oak Non-Profit Apartments Inc's revenue in 2024 was $2,665,495.
Official website here: www.csi.coop
Who are the executives of Oak Non-Profit Apartments Inc and what are their salaries?
There 20 volunteers at Oak Non-Profit Apartments Inc.
Here are 23 key members and their salaries:
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- Related: $169,810
- Other: $39,866
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- Other: $52,900
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- Other: $63,515
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- Related: $178,523
- Other: $50,953
Official website here: www.csi.coop
Where can I find the form 990 for Oak Non-Profit Apartments Inc?
Oak Non-Profit Apartments Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.csi.coop
Learn more at the official website: www.csi.coop
Mission Statement of Oak Non-Profit Apartments Inc
Oak Non-Profit Apartments Inc, a Michigan-based non-profit housing corporation, is dedicated to providing housing facilities for low-income senior citizens. Established in cooperation with the U.S. Department of Housing and Urban Development, their mission is to offer a welcoming environment and necessary accommodations for this specific demographic. This non-profit organization aims to promote a sense of community and security for its elderly residents, ensuring they can live comfortably with the assistance they require.
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Impact
July, 2024
Oak Non-Profit Apartments Inc, through its mission to provide housing facilities for low-income senior citizens, has had a significant impact on the community in Warren, MI. By offering affordable and safe housing options for seniors in need, the organization has helped improve the quality of life for many individuals. Additionally, Oak Non-Profit Apartments Inc's collaboration with the US Department of Housing and Urban Development demonstrates its commitment to addressing the housing needs of vulnerable populations. Overall, the organization's impact can be seen in the improved living conditions and enhanced well-being of low-income senior citizens in the area.
This information is meant to be a general summary of Oak Non-Profit Apartments 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 2024.
- Investment Income: $1,915
- Program Service Revenue: $860,151
- Gross Receipts: $2,665,495
Assets and Liabilities:
- Total Assets: $5,192,525
- Total Liabilities: $7,793,000
- Net Assets: -$2,600,475
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$860,151
Organization Details
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