Overview
What is St Joseph Apartments Inc?
St. Joseph Apartments Inc., based in St. Cloud, Minnesota, is a nonprofit organization that provides housing solutions to families with low and moderate incomes. Their primary mission is to offer affordable living spaces on a non-profit basis, ensuring that these families have access to stable housing. With a focus on community development, St. Joseph Apartments Inc. has established 28 housing units, providing a much-needed service in the area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58%, One-Star out of Four Stars
St Joseph Apartments Inc has received a low 58% rating from Charity Navigator, which indicates significant concerns regarding its overall accountability and financial health. While the organization demonstrates strong governance with a fully independent board and high performance in documenting board meeting minutes, its liabilities to assets ratio raises red flags about financial sustainability.
The organization excels in its program expense ratio, allocating a substantial 79.41% of its spending directly towards its programs, reflecting a commitment to its mission. However, the alarming liabilities to assets ratio of 120.58% suggests that the organization may have more obligations than assets, potentially jeopardizing its operations and long-term viability.
In summary, while St Joseph Apartments Inc shows a commitment to governance and program delivery, the financial indicators point to potential risks that deserve careful consideration by donors and stakeholders. It will be crucial for the organization to address its financial liabilities to secure a healthier future.
This AI summary has been generated from information found on Charity Navigator.
Is St Joseph Apartments Inc legitimate?
St Joseph Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Joseph 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 St Joseph Apartments Inc?
St. Joseph Apartments Inc. is committed to providing housing on a non-profit basis for families with low and moderate income. This organization's mission is to make housing accessible for these families, ensuring they have a place to call home. Their activities center around offering 28 housing units, all provided on a non-profit basis, to cater to this specific demographic. By doing so, St. Joseph Apartments Inc. contributes significantly to the well-being and stability of these families.
Who is the CEO of St Joseph Apartments Inc?
Renae Sternke is the Board President of St Joseph Apartments Inc.
What is the revenue of St Joseph Apartments Inc?
St Joseph Apartments Inc's revenue in 2022 was $150,371.
Who are the executives of St Joseph Apartments Inc and what are their salaries?
There 3 volunteers at St Joseph Apartments Inc.
Here are 5 key members and their salaries:
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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
Where can I find the form 990 for St Joseph Apartments Inc?
St Joseph Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of St Joseph Apartments Inc
St. Joseph Apartments Inc, as a non-profit organization, is committed to providing housing solutions for families with modest incomes. Their mission is to offer suitable living accommodations on a not-for-profit basis, catering specifically to low and moderate income families. By doing so, the organization aims to contribute to the well-being and stability of these families, providing them with a secure living environment. As stated in their activities, St. Joseph Apartments Inc has successfully provided 28 housing units to families falling under this income bracket, further solidifying their commitment to this mission.
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Impact
October, 2024
St Joseph Apartments Inc significantly contributes to the community by providing essential housing for low and moderate-income families in St. Cloud, MN. With 28 housing units available, the organization addresses the critical need for affordable living options, ensuring that families have access to safe and stable homes. This initiative not only alleviates housing insecurity but also fosters a sense of community among residents, enabling them to thrive in their living environment. By focusing on accessibility, St Joseph Apartments Inc plays a vital role in enhancing the quality of life for its residents, promoting social equity, and supporting the local economy.
This information is meant to be a general summary of St Joseph 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: $9
- Program Service Revenue: $150,362
- Gross Receipts: $150,371
Assets and Liabilities:
- Total Assets: $542,846
- Total Liabilities: $654,602
- Net Assets: -$111,756
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROSS RENTS
Revenue
$146,137
LAUNDRY
Revenue
$3,891
TENANT CHARGES
Revenue
$334
Organization Details
Founding Year
1985
Phone
(320) 650-1550Principal Officer
Renae Sternke
Main Address
911 18TH ST N, ST CLOUD, MN, 56303
NTEE Category
Code: L20 - Housing
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