Overview
What is Bgc Nonprofit Housing Corporation C/O Altman Management Company?
Bgc Nonprofit Housing Corporation C/O Altman Management Company is a nonprofit organization situated in Okemos, Michigan. Their primary mission is to provide and preserve housing facilities for individuals and families with low income. This organization manages the Linden Lane Apartments, offering 180 rental units. Beyond just offering housing, they also focus on the social, physical, and health needs of their residents, providing various facilities and programs aimed at enhancing the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 45%, Zero-Star out of Four Star rating.
The Bgc Nonprofit Housing Corporation has received a low score of 45%, indicating significant concerns regarding its accountability and financial practices. While the organization boasts 100% independent board members, it suffers from a lack of transparency in its financial statements and related governance practices, which are critical for ensuring stakeholder trust.
Strengths include a high program expense ratio of 73.68%, suggesting that a substantial portion of its budget is dedicated to its programs. However, the organization falls short in several key areas, such as having no independent board size points, and failing to adhere to essential policies like conflict of interest and whistleblower protections. This raises flags about its governance and operational integrity.
Overall, the lack of transparency and the absence of crucial financial policies may hinder potential donors' confidence in the organization. The strong program expense ratio indicates a commitment to its mission, but the serious deficiencies in accountability measures could detract from its effectiveness and reputation in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Bgc Nonprofit Housing Corporation C/O Altman Management Company legitimate?
Bgc Nonprofit Housing Corporation C/O Altman Management Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bgc Nonprofit Housing Corporation C/O Altman Management Company 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
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What is the mission statement of Bgc Nonprofit Housing Corporation C/O Altman Management Company?
The Bgc Nonprofit Housing Corporation, managed by Altman Management Company, is dedicated to providing and preserving housing facilities for individuals and families of low income. Their mission extends beyond just providing homes, as they also aim to cater to the social, physical, and health needs of their residents. The organization, specifically the Linden Lane Apartments, offers 180 rental units for those with moderate to low income. Additionally, they provide social and recreational facilities to enhance the living experience for the surrounding community.
What is the revenue of Bgc Nonprofit Housing Corporation C/O Altman Management Company?
Bgc Nonprofit Housing Corporation C/O Altman Management Company's revenue in 2023 was $1,945,803.
Who are the executives of Bgc Nonprofit Housing Corporation C/O Altman Management Company and what are their salaries?
There 4 volunteers at Bgc Nonprofit Housing Corporation C/O Altman Management Company.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Bgc Nonprofit Housing Corporation C/O Altman Management Company?
Bgc Nonprofit Housing Corporation C/O Altman Management Company's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Bgc Nonprofit Housing Corporation C/O Altman Management Company
Bgc Nonprofit Housing Corporation C/O Altman Management Company is dedicated to a noble mission. This organization strives to provide and preserve housing facilities for individuals and families of low income. Beyond just providing a place to live, Bgc Nonprofit Housing Corporation also prioritizes addressing the social, physical, and health needs of its residents. To accomplish this, they manage Linden Lane Apartments, which offers 180 rental units to those in need. Furthermore, the organization goes above and beyond by offering social and recreational facilities to serve the residential area. In this way, Bgc Nonprofit Housing Corporation C/O Altman Management Company not only provides a roof over the heads of low-income individuals and families but also works to improve their overall quality of life.
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Impact
July, 2024
Bgc Nonprofit Housing Corporation C/O Altman Management Company has a significant impact on the community by providing and preserving housing facilities for persons and families of low income. Additionally, they offer social and recreational facilities to serve the residential area. This organization plays a vital role in addressing the housing needs of individuals and families in the community, ensuring that they have access to affordable housing options. Their mission to provide for the social, physical, and health needs of low-income individuals and families contributes to the overall well-being and stability of the community.
This information is meant to be a general summary of Bgc Nonprofit Housing Corporation C/O Altman Management Company. 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: $3,800
- Program Service Revenue: $1,942,003
- Gross Receipts: $1,945,803
Assets and Liabilities:
- Total Assets: $9,485,113
- Total Liabilities: $6,620,915
- Net Assets: $2,864,198
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$1,924,875
ANCILLARY FEES
Revenue
$17,128
Organization Details
Founding Year
1992
Principal Officer
Richard Kerbawy
NTEE Category
Code: S21Z - Community improvement
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