Overview
What is Lafayette Square Inc?
Lafayette Square Inc is a nonprofit organization established in Macomb, Illinois, dedicated to serving the housing needs of senior citizens and individuals with disabilities. Operating as a retirement community, Lafayette Square provides essential housing solutions for those in need, contributing to their comfort and well-being. The organization's primary mission is to cater to this specific demographic, offering a supportive environment and fostering a sense of community within its Macomb location.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Stars
Lafayette Square Inc has achieved a Three-Star rating on Charity Navigator, reflecting a solid performance in accountability and finance. The organization has scored highly on various metrics, particularly excelling in its independent board structure, with 100% of board members being independent. Financially, the nonprofit demonstrates transparency and responsible management, evidenced by a strong program expense ratio of 90.29%, which indicates that a significant majority of its funds are directed towards its programs.
However, the organization faces some challenges, particularly highlighted by its liabilities to assets ratio of 252.31%, which raises concerns regarding its financial stability. While there are no reported issues with asset diversion or conflicts of interest, the high liabilities compared to assets suggest a need for closer scrutiny of its financial health moving forward. Despite this limitation, Lafayette Square Inc's strong governance policies and commitment to accountability are commendable and contribute positively to its overall rating.
This AI summary has been generated from information found on Charity Navigator.
Is Lafayette Square Inc legitimate?
Lafayette Square Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lafayette Square 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: $259,158
For more financial information, click here
What is the mission statement of Lafayette Square Inc?
Lafayette Square Inc, as an organization, focuses on providing senior and disabled housing, serving as a retirement community for those in need. Its mission is to offer a living space for individuals who require such accommodations, aiming to enhance their quality of life. The organization does not specifically mention advocacy or research, but its primary activity lies in providing a supportive environment for senior citizens. Lafayette Square Inc does not disclose any information about expanding understanding or increasing acceptance of any specific condition, nor does it mention launching research studies or hosting summits. Instead, it concentrates on serving its community by offering senior and disabled housing.
Who is the CEO of Lafayette Square Inc?
Karen Foster is the Principal Officer of Lafayette Square Inc.
What is the revenue of Lafayette Square Inc?
Lafayette Square Inc's revenue in 2022 was $1,238,134.
Who are the executives of Lafayette Square Inc and what are their salaries?
The average compensation at Lafayette Square Inc during 2022 was $64,790. There are 4 employees at Lafayette Square Inc.
Here are 3 key members and their salaries:
- 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 Lafayette Square Inc?
Lafayette Square Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lafayette Square Inc
Lafayette Square Inc, a nonprofit organization, is dedicated to providing senior and disabled housing. Serving as a retirement community, Lafayette Square caters specifically to the needs of senior citizens. Its mission is to offer a comfortable and supportive living environment for individuals who require specialized care due to their age or disabilities. By providing senior and disabled housing, Lafayette Square aims to contribute positively to the lives of its residents, ensuring they can live with dignity and independence.
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Impact
July, 2024
Lafayette Square Inc has a significant impact on the community by providing essential senior and disabled housing services in Macomb, IL. Their mission to serve as a retirement community for seniors in need contributes to maintaining the well-being and quality of life for vulnerable individuals in the area. Through their focus on health and housing, Lafayette Square plays a crucial role in supporting the aging population and those with disabilities, ensuring they have a safe and comfortable living environment.
This information is meant to be a general summary of Lafayette Square 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: $628
- Program Service Revenue: $1,237,506
- Gross Receipts: $1,238,134
Assets and Liabilities:
- Total Assets: $1,311,203
- Total Liabilities: $3,408,741
- Net Assets: -$2,097,538
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Revenues
Revenue
$1,217,923
Tenant Charges
Revenue
$19,583
Organization Details
Founding Year
1978
Phone
(406) 863-4804Principal Officer
Karen Foster
Main Address
100 West Jefferson St, Macomb, IL, 614552160
NTEE Category
Code: E91 - Health
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