Overview
What is Osborne Apartments Inc?
Osborne Apartments Inc is a nonprofit organization situated in Spring Lake Park, Minnesota, with a specific focus on providing quality housing for low-income senior citizens. The organization manages 60 rental units, catering to this demographic in need. Its core mission is to ensure the senior citizens residing there have access to comfortable and suitable living spaces, thereby enhancing their overall quality of life. The organization is dedicated to this cause and strives to make a positive impact in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Stars)
Osborne Apartments Inc has received a Two-Star rating from Charity Navigator, reflecting an overall score of 67%. This rating indicates a moderate level of accountability and finance within the organization. Notably, the organization boasts 100% independent board members, which strengthens its governance structure, as evidenced by high scores in board independence and financial statement audits.
The charity demonstrates a solid commitment to its programs, achieving a program expense ratio of 81.48%, indicating that a significant portion of its funds is directed towards its mission. However, the organization faces challenges with its liabilities to assets ratio, which stands at 150.44%, highlighting potential financial risks. Despite these concerns, the charity has shown strong practices in documenting board meeting minutes and has no reported material diversion of assets, contributing positively to its overall accountability.
Overall, while Osborne Apartments Inc exhibits strengths in governance and program spending, its financial liabilities warrant attention. Potential supporters and stakeholders may want to consider these factors when evaluating the organization's long-term sustainability and impact.
This AI summary has been generated from information found on Charity Navigator.
Is Osborne Apartments Inc legitimate?
Osborne Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Osborne 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: $107,647
For more financial information, click here
What is the mission statement of Osborne Apartments Inc?
Osborne Apartments Inc is dedicated to providing quality housing for low-income senior citizens. This mission is carried out through a senior citizen housing project, which offers 60 rental units, thereby ensuring suitable living conditions for 60 elderly individuals with limited financial resources. The organization's commitment is to enhance the living standards of this vulnerable population, providing them with a decent and comfortable living space.
Who is the CEO of Osborne Apartments Inc?
James Hoeft is the Chairman of Osborne Apartments Inc.
What is the revenue of Osborne Apartments Inc?
Osborne Apartments Inc's revenue in 2022 was $685,882.
Who are the executives of Osborne Apartments Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Osborne Apartments Inc?
Osborne Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Osborne Apartments Inc
Osborne Apartments Inc, a nonprofit organization, is committed to providing quality housing for low-income senior citizens. Their mission is centered around creating a comfortable living environment for this specific demographic. The organization operates a senior citizen housing project, which encompasses 60 rental units. This project serves as a home for 60 elderly individuals who are financially disadvantaged, ensuring they have access to decent living conditions.
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Impact
July, 2024
Osborne Apartments Inc's impact can be seen in the provision of quality housing to low-income senior citizens in Spring Lake Park, MN. Through their senior citizen housing project with 60 rental units, this organization directly contributes to improving the living conditions and overall well-being of 60 seniors in need. By focusing on the critical need for affordable and safe housing for seniors, Osborne Apartments Inc fulfills its mission of providing essential support to a vulnerable population.
This information is meant to be a general summary of Osborne 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 2022.
- Investment Income: $318
- Program Service Revenue: $685,564
- Gross Receipts: $685,882
Assets and Liabilities:
- Total Assets: $3,209,456
- Total Liabilities: $4,693,453
- Net Assets: -$1,483,997
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERV REV-RELAT
Revenue
$685,564
Organization Details
Founding Year
1980
Phone
(612) 874-3479Principal Officer
James Hoeft
Main Address
659 OSBORNE ROAD NE, SPRING LAKE PARK, MN, 55432
NTEE Category
Code: L22Z - Housing
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