Overview
What is Bgc-I Nonprofit Housing Corporation C/O Altman Management Company?
Bgc-I Nonprofit Housing Corporation, under the management of Altman Management Company, is a dedicated organization situated in Okemos, Michigan. Their primary focus is on providing affordable housing for individuals and families with limited income. The corporation manages 152 rental units and goes beyond just housing by offering social and recreational facilities for the community. Their mission is twofold: to ensure the preservation and provision of housing facilities and to cater to the diverse needs of the residents, enriching their lives beyond their living spaces.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 Stars
Bgc-I Nonprofit Housing Corporation has received a Zero-Star out of Four Star rating from Charity Navigator, reflecting significant concerns in its accountability and financial practices. The organization scored only 34% overall, with particular weaknesses noted in financial transparency and governance policies. While it benefits from having a fully independent board, it lacks adequate financial reporting and does not meet several transparency criteria.
Strengths include a 100% independent board, which is a positive aspect for organizational governance. However, the charity's financial statements reveal critical issues, as it scored zero points in several essential areas, including the posting of tax forms and adherence to conflict of interest policies. This raises questions about the organization’s operational integrity and financial health.
Despite having a decent program expense ratio, the overall financial management of Bgc-I Nonprofit Housing Corporation appears to be lacking. The low score in liabilities to assets ratio highlights potential financial instability, which could affect its ability to sustain its housing initiatives. These factors contribute to the overall negative rating, emphasizing the need for improvement in financial practices and transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Bgc-I Nonprofit Housing Corporation C/O Altman Management Company legitimate?
Bgc-I Nonprofit Housing Corporation C/O Altman Management Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bgc-I 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
For more financial information, click here
What is the mission statement of Bgc-I Nonprofit Housing Corporation C/O Altman Management Company?
The mission of BGC-I Nonprofit Housing Corporation, under the management of Altman Company, is centered around providing and preserving housing facilities for individuals and families with low income. Beyond just housing, their goal is also to attend to the social and various other needs of these residents. They accomplish this by offering a total of 152 rental units to individuals with moderate to low income. In addition to housing, BGC-I provides social and recreational facilities to cater to the needs of the residential community.
Who is the CEO of Bgc-I Nonprofit Housing Corporation C/O Altman Management Company?
Richard Kerbawy is the Treasurer of Bgc-I Nonprofit Housing Corporation C/O Altman Management Company.
What is the revenue of Bgc-I Nonprofit Housing Corporation C/O Altman Management Company?
Bgc-I Nonprofit Housing Corporation C/O Altman Management Company's revenue in 2022 was $1,696,575.
Who are the executives of Bgc-I Nonprofit Housing Corporation C/O Altman Management Company and what are their salaries?
There 2 volunteers at Bgc-I Nonprofit Housing Corporation C/O Altman Management Company.
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Bgc-I Nonprofit Housing Corporation C/O Altman Management Company?
Bgc-I Nonprofit Housing Corporation C/O Altman Management Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bgc-I Nonprofit Housing Corporation C/O Altman Management Company
BGC-I Nonprofit Housing Corporation, under the management of Altman Management Company, is dedicated to a noble cause. Its primary mission is to provide and preserve housing facilities for individuals and families of low income. Beyond just offering living spaces, this nonprofit organization also strives to meet the social and various other needs of its residents. By offering 152 rental units, BGC-I ensures affordable housing options for those who fall within the low to moderate income bracket. Additionally, the organization provides social and recreational facilities to enrich the residential area, contributing to a sense of community among its residents.
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Impact
July, 2024
Bgc-I Nonprofit Housing Corporation, operating through Altman Management Company, plays a vital role in providing and preserving housing facilities for low-income individuals and families in Okemos, MI. The organization offers 152 rental units to serve this community, ensuring that those in need have access to affordable housing. Additionally, Bgc-I goes beyond just providing shelter by also offering social and recreational facilities to enhance the quality of life for its residents. Through its mission to support individuals and families of low income by addressing their housing and various other needs, Bgc-I Nonprofit Housing Corporation positively impacts the lives of many in the Okemos area.
This information is meant to be a general summary of Bgc-I 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 2022.
- Investment Income: $3,116
- Program Service Revenue: $1,693,459
- Gross Receipts: $1,696,575
Assets and Liabilities:
- Total Assets: $4,203,353
- Total Liabilities: $6,013,349
- Net Assets: -$1,809,996
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$1,675,684
ANCILLARY FEES
Revenue
$17,775
Organization Details
Founding Year
1992
Phone
(517) 853-6655Principal Officer
Richard Kerbawy
Main Address
2170 COMMONS PKWY, OKEMOS, MI, 48864
NTEE Category
Code: L200 - Housing
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