Overview
What is Oakland Estates Apartments Inc?
Oakland Estates Apartments Inc is a not-for-profit corporation established in Indiana with a mission to construct, own, and manage a 12-unit apartment community in Elkhart, Indiana, named Oakland Estates Apartments. The organization was established under Section 811 of the National Affordable Housing Act, aiming to provide housing for low-income families or individuals. They have entered into a Project Rental Assistance Contract (PRAC) with HUD, which is a rent assistance program as part of the Section 8 program of the National Housing Act. This contract is governed by a regulatory agreement with the Federal Housing Administration (FHA) section of HUD, ensuring the operation of the project adheres to federal standards.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Oakland Estates Apartments Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. The rating is based entirely on a single beacon score, indicating a focus on operational integrity and sound financial practices. The organization boasts a high percentage of independent board members, with 87% of its board being independent, which is essential for unbiased decision-making.
The nonprofit demonstrates excellent financial management, as evidenced by a low liabilities to assets ratio of 2.91% and a program expense ratio of 80.20%, indicating that a significant portion of its resources is directed towards its mission-related activities. Additionally, it has robust policies in place, including conflict of interest, whistleblower protections, and proper document retention, which further enhance its transparency and accountability.
Overall, Oakland Estates Apartments Inc stands out for its strong governance and financial practices, making it a reliable choice for donors looking to support effective nonprofit organizations. While the data points to significant strengths, continued monitoring of both financial health and program effectiveness will be essential to maintain its high standards.
This AI summary has been generated from information found on Charity Navigator.
Is Oakland Estates Apartments Inc legitimate?
Oakland Estates Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oakland Estates 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
What is the mission statement of Oakland Estates Apartments Inc?
Oakland Estates Apartments Inc, as a not-for-profit corporation, was established with the purpose of constructing, owning, and operating a 12-unit apartment community. This project, named Oakland Estates Apartments, is situated in Elkhart, Indiana. The corporation was organized under Section 811 of the National Affordable Housing Act and has a regulatory agreement with HUD, overseen by the Federal Housing Administration (FHA) section of HUD. Furthermore, Oakland Estates Apartments Inc has entered into a Project Rental Assistance Contract (PRAC) with HUD, which is a rent assistance program for low-income families or individuals, as part of the Section 8 program of the National Housing Act. The primary objective of this corporation appears to be providing affordable housing solutions for low-income families or individuals, in accordance with these agreements and programs.
Who is the CEO of Oakland Estates Apartments Inc?
Laurie Nafziger is the Principal Officer of Oakland Estates Apartments Inc. The CEO's salary of Oakland Estates Apartments Inc is $0 and their total compensation is $333,440.
What is the revenue of Oakland Estates Apartments Inc?
Oakland Estates Apartments Inc's revenue in 2023 was $68,808.
Who are the executives of Oakland Estates Apartments Inc and what are their salaries?
There 16 volunteers at Oakland Estates Apartments Inc.
Here are 23 key members and their salaries (Oakland Estates Apartments Inc's CEO's salary is $0 and their total compensation is $333,440):
- Compensation: $0
- Related: $285,709
- Other: $47,731
- Compensation: $0
- Related: $139,412
- Other: $33,033
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Compensation: $0
- Related: $328,011
- Other: $64,895
- Compensation: $0
- Related: $284,248
- Other: $58,918
- Compensation: $0
- Related: $254,632
- Other: $51,386
- Compensation: $0
- Related: $248,354
- Other: $48,198
- Compensation: $0
- Related: $240,559
- Other: $40,223
Where can I find the form 990 for Oakland Estates Apartments Inc?
Oakland Estates Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Oakland Estates Apartments Inc
Oakland Estates Apartments Inc, a not-for-profit corporation, was established with the mission to construct, own, and operate a 12-unit apartment community. This community, known as Oakland Estates Apartments, is situated in Elkhart, Indiana. The organization was founded in accordance with Section 811 of the National Affordable Housing Act, with the primary objective of providing affordable housing options.
To carry out its mission, Oakland Estates Apartments Inc entered into a regulatory agreement with the Federal Housing Administration (FHA) section of HUD. This agreement governs the operation of the project, ensuring compliance with the National Housing Act's Section 8 program. In addition, the corporation signed a Project Rental Assistance Contract (PRAC) with HUD. This contract serves as a rent assistance program for low-income families or individuals, in line with the Section 8 program of the National Housing Act. By providing such housing solutions, Oakland Estates Apartments Inc contributes to the broader goal of making affordable housing accessible to those in need.
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Impact
August, 2024
Oakland Estates Apartments Inc's impact is centered around providing affordable housing to low-income families or individuals in Elkhart, Indiana through its 12-unit apartment community known as Oakland Estates Apartments. By operating under the guidelines of the National Affordable Housing Act and having established regulatory agreements with HUD, the organization ensures that those in need have access to safe and secure housing options. Through its Project Rental Assistance Contract (PRAC) with HUD, Oakland Estates Apartments Inc plays a crucial role in supporting individuals and families facing housing challenges in the community.
This information is meant to be a general summary of Oakland Estates 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 2023.
- Investment Income: $3
- Program Service Revenue: $33,521
- Gross Receipts: $68,808
Assets and Liabilities:
- Total Assets: $700,160
- Total Liabilities: $20,414
- Net Assets: $679,746
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$33,521
Organization Details
Founding Year
2002
Phone
(574) 237-6000Principal Officer
Laurie Nafziger
Main Address
330 LAKEVIEW DRIVE PO BOX 809, GOSHEN, IN, 465270809
NTEE Category
Code: L20 - Housing
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