Overview
What is Orion Area Not-For-Profit Housing Corp?
Orion Area Not-For-Profit Housing Corp, functioning under the name Heritage Place of Lake Orion, is a dedicated nonprofit organization based in Farmington Hills, Michigan. Their primary mission is to provide affordable housing for elderly and handicapped individuals, operating a 57-unit apartment complex located in Lake Orion, Michigan. This housing complex is funded through Section 202 of the National Housing Act and is regulated by the U.S. Department of Housing and Urban Development (HUD). The project receives additional financial support through the Section 8 program, which provides rental supplements from the federal government. HUD also holds a mortgage on the property. The organization's main programs include the Section 202 direct loan and the assistance received from the Section 8 program, aiming to enhance living conditions for those in need.
Official website here: www.trinityhealthseniorcommunities.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74%, Two-Star out of Four Star rating.
Orion Area Not-For-Profit Housing Corp has earned a 74% rating from Charity Navigator, indicating a moderate level of accountability and financial health. The organization has demonstrated strong governance practices, with 100% of board members being independent and effective financial oversight through an audited financial statement. Additionally, it has established a comprehensive conflict of interest and whistleblower policy, which enhances its operational transparency.
However, the organization faces challenges regarding its financial ratios. Specifically, its liabilities to assets ratio is notably high at 168.33%, which raises concerns about its financial sustainability. While the organization allocates a substantial 67.76% of its expenses towards programs, the missing tax form on its website might affect its overall transparency and accessibility of information for stakeholders.
In summary, while Orion Area Not-For-Profit Housing Corp shows commendable governance and program expense management, it should address its financial liabilities and improve the availability of critical financial documents to enhance its standing and trustworthiness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Orion Area Not-For-Profit Housing Corp legitimate?
Orion Area Not-For-Profit Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Orion Area Not-For-Profit Housing Corp 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: $140,630
For more financial information, click here
Official website here: www.trinityhealthseniorcommunities.org
What is the mission statement of Orion Area Not-For-Profit Housing Corp?
Orion Area Not-For-Profit Housing Corp is dedicated to providing low-income housing for elderly and handicapped individuals. Their mission is centered around managing and operating a multi-family apartment complex, offering a home for those in need. This housing corporation operates under Section 202 of the National Housing Act, regulated by the U.S. Department of Housing and Urban Development (HUD). The Project they manage receives rental supplements from the federal government under the Section 8 program and is subject to a mortgage from HUD. The main programs of Orion Area Not-For-Profit Housing Corp include their Section 202 Direct Loan and the assistance received from the Section 8 program, aiming to provide a suitable living environment for the elderly and handicapped individuals they serve.
Official website here: www.trinityhealthseniorcommunities.org
Who is the CEO of Orion Area Not-For-Profit Housing Corp?
Larry Wik is the Trustee; Chair; Treasurer of Orion Area Not-For-Profit Housing Corp.
Official website here: www.trinityhealthseniorcommunities.org
What is the revenue of Orion Area Not-For-Profit Housing Corp?
Orion Area Not-For-Profit Housing Corp's revenue in 2022 was $595,203.
Official website here: www.trinityhealthseniorcommunities.org
Who are the executives of Orion Area Not-For-Profit Housing Corp and what are their salaries?
There 6 volunteers at Orion Area Not-For-Profit Housing Corp.
Here are 6 key members and their salaries:
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Official website here: www.trinityhealthseniorcommunities.org
Where can I find the form 990 for Orion Area Not-For-Profit Housing Corp?
Orion Area Not-For-Profit Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.trinityhealthseniorcommunities.org
Learn more at the official website: www.trinityhealthseniorcommunities.org
Mission Statement of Orion Area Not-For-Profit Housing Corp
Orion Area Not-For-Profit Housing Corp is committed to providing low-income housing for elderly and handicapped individuals. This mission is carried out through the operation and management of a 57-unit multi-family apartment complex, which serves as a residence for these individuals. The organization is regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rental charges and operating methods. Additionally, the project receives rent supplements from the federal government under the Section 8 program, making it an affordable housing option for those in need. The organization's major programs include its Section 202 Direct Loan and the assistance received from the Section 8 program. In essence, Orion Area Not-For-Profit Housing Corp is dedicated to creating a safe and affordable living environment for elderly and handicapped individuals, ensuring they have access to the housing they require.
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Impact
July, 2024
Orion Area Not-For-Profit Housing Corp's impact lies in providing essential low-income housing for elderly and handicapped individuals in Lake Orion, Michigan. Through its ownership, operation, and management of a 57-unit multi-family apartment complex, the organization ensures that vulnerable members of the community have access to safe and affordable housing. By participating in HUD's Section 8 program and receiving rent supplements from the federal government, Orion Area Not-For-Profit Housing Corp plays a vital role in addressing the housing needs of those in need. Their mission to provide housing for elderly and handicapped individuals underscores their commitment to improving the quality of life for those facing housing challenges in the area.
This information is meant to be a general summary of Orion Area Not-For-Profit Housing Corp. 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: $42
- Program Service Revenue: $214,072
- Gross Receipts: $595,203
Assets and Liabilities:
- Total Assets: $1,106,203
- Total Liabilities: $1,781,065
- Net Assets: -$674,862
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APARTMENT RENTAL
Revenue
$214,072
Organization Details
Founding Year
1983
Phone
(734) 343-6600Principal Officer
Larry Wik
Main Address
PO BOX 9184, FARMINGTON HILLS, MI, 483339184
NTEE Category
Code: L21Z - Housing
If you are a representative of Orion Area Not-For-Profit Housing Corp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.