Overview
What is Southgate Non-Profit Apartments Inc?
Southgate Non-Profit Apartments Inc is a Michigan-based, non-profit housing corporation, established in February 1982. This organization, a collaborative venture between Cooperative Services, Inc., provides housing facilities for low-income senior citizens. The corporation was initially formed to acquire and manage an apartment project, consisting of 227 units, located in Southgate, Michigan. In partnership with the U.S. Department of Housing and Urban Development, Southgate Non-Profit Apartments Inc offers housing solutions to support the senior community's needs.
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)
Southgate Non-Profit Apartments Inc has received an 81% score from Charity Navigator, reflecting a Three-Star rating primarily based on its Accountability & Finance metrics. This rating indicates a strong commitment to transparency and responsible financial management, essential attributes for nonprofit organizations. The organization has a fully independent board and has established effective governance practices, ensuring that funds are managed wisely.
The nonprofit showcases a robust financial structure, with a program expense ratio of 80.28%, indicating that a significant portion of its resources is allocated directly to its mission-driven programs. Additionally, the organization has implemented several key policies such as conflict of interest and whistleblower policies, contributing to a culture of accountability and integrity. This proactive approach enhances trust among donors and stakeholders alike.
However, while the financial oversight appears strong, the data indicates notable salaries for key personnel, which may raise questions about compensation in relation to the nonprofit’s mission. Nonetheless, the overall financial health and governance practices portrayed by Southgate Non-Profit Apartments Inc suggest a responsibly operated organization dedicated to its objectives.
This AI summary has been generated from information found on Charity Navigator.
Is Southgate Non-Profit Apartments Inc legitimate?
Southgate Non-Profit Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southgate 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 Southgate Non-Profit Apartments Inc?
Southgate Non-Profit Apartments Inc is dedicated to providing housing facilities for low-income senior citizens. Established in a cooperative manner, the organization collaborates with the U.S. Department of Housing and Urban Development to offer affordable living spaces to senior citizens. Its mission is to ensure that elderly individuals with limited income have access to appropriate housing, contributing to their overall well-being and quality of life. The corporation operates an apartment project with 227 units, providing a safe and comfortable living environment for its residents.
Official website here: www.csi.coop
What is the revenue of Southgate Non-Profit Apartments Inc?
Southgate Non-Profit Apartments Inc's revenue in 2024 was $2,289,834.
Official website here: www.csi.coop
Who are the executives of Southgate Non-Profit Apartments Inc and what are their salaries?
There 64 volunteers at Southgate Non-Profit Apartments Inc.
Here are 23 key members and their salaries:
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- Other: $37,025
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- Other: $65,434
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- Related: $169,810
- Other: $39,866
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- Related: $194,673
- 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 Southgate Non-Profit Apartments Inc?
Southgate 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 Southgate Non-Profit Apartments Inc
Southgate Non-Profit Apartments Inc, a Michigan-based non-profit organization, is dedicated to providing housing facilities for low-income senior citizens. Established in 1982, this corporation was formed in collaboration with Cooperative Services, Inc., another Michigan non-profit cooperative, with the primary objective of acquiring property and constructing an apartment project. This project, located in Southgate, Michigan, offers 227 units of housing specifically designed for senior citizens who fall under the low-income bracket. The organization's mission aligns with the initiatives of the US Department of Housing and Urban Development, demonstrating a commitment to ensuring that senior citizens have access to affordable and suitable living spaces.
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Impact
July, 2024
Southgate Non-Profit Apartments Inc's impact lies in providing housing facilities for low-income senior citizens. By offering affordable housing options for this demographic, the organization plays a crucial role in addressing the needs of vulnerable individuals in the community. This support helps seniors maintain stable housing, ensuring they have a comfortable and secure living environment. Through their mission to serve low-income seniors, Southgate Non-Profit Apartments Inc positively impacts the lives of those in need, promoting overall well-being and quality of life for this population.
This information is meant to be a general summary of Southgate 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: $1,340
- Program Service Revenue: $923,773
- Gross Receipts: $2,289,834
Assets and Liabilities:
- Total Assets: $4,621,490
- Total Liabilities: $8,632,181
- Net Assets: -$4,010,691
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$923,773
Organization Details
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