Overview
What is Oak Haven Apartments Inc C/O Hands?
Oak Haven Apartments Inc, managed by Hands, is a nonprofit organization situated in Erie, Pennsylvania. Their primary mission is to provide and maintain 22 affordable housing units specifically for qualified elderly individuals. This residential complex, located in Waterford, PA, aims to offer attractive and budget-friendly living spaces to its elderly residents. Hands, serving as the management agent, is committed to ensuring the upkeep and maintenance of these apartments, thereby contributing to the well-being of the elderly community in the area.
Official website here: www.hands-erie.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68% (Two-Star out of Four Star rating)
Oak Haven Apartments Inc C/O Hands has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. Their score reflects strong governance features such as a fully independent board and no material diversion of assets. However, they face significant weaknesses in certain areas, particularly the lack of a whistleblower policy and document retention procedures, which hinder their overall score.
The organization demonstrates a robust program expense ratio at 86.32%, suggesting that a large portion of their budget is allocated towards their mission-related activities. This efficiency in spending is a positive aspect of their financial management. Despite this, the liabilities to assets ratio of 139.54% raises concerns about their financial stability, indicating that their liabilities exceed their assets.
In summary, while Oak Haven Apartments Inc C/O Hands shows strengths in governance and program expenditure, the absence of critical policies and a concerning financial ratio highlight areas for improvement. Enhancing their accountability measures could help bolster their rating and increase donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Oak Haven Apartments Inc C/O Hands legitimate?
Oak Haven Apartments Inc C/O Hands is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oak Haven Apartments Inc C/O Hands 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:
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For more financial information, click here
Official website here: www.hands-erie.org
What is the mission statement of Oak Haven Apartments Inc C/O Hands?
Oak Haven Apartments Inc, under the management of Hands, has a mission to provide and maintain affordable housing for qualified elderly individuals. This mission is carried out by offering attractive rental units that cater to the needs of this specific demographic. The organization is committed to ensuring that these apartments are maintained to a high standard, providing a comfortable living environment for the elderly residents. The primary goal is to make affordable housing accessible to these individuals, thereby improving their quality of life.
Official website here: www.hands-erie.org
Who is the CEO of Oak Haven Apartments Inc C/O Hands?
Sharon Richardson is the Chairman of Oak Haven Apartments Inc C/O Hands.
Official website here: www.hands-erie.org
What is the revenue of Oak Haven Apartments Inc C/O Hands?
Oak Haven Apartments Inc C/O Hands's revenue in 2023 was $183,413.
Official website here: www.hands-erie.org
Who are the executives of Oak Haven Apartments Inc C/O Hands and what are their salaries?
There 14 volunteers at Oak Haven Apartments Inc C/O Hands.
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Official website here: www.hands-erie.org
Where can I find the form 990 for Oak Haven Apartments Inc C/O Hands?
Oak Haven Apartments Inc C/O Hands's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.hands-erie.org
Learn more at the official website: www.hands-erie.org
Mission Statement of Oak Haven Apartments Inc C/O Hands
Oak Haven Apartments Inc C/O Hands, a nonprofit organization, is dedicated to providing and maintaining affordable housing for eligible elderly individuals. Their mission is to create an attractive living environment for this specific demographic, ensuring they have access to comfortable and reasonably priced apartments. By doing so, Oak Haven Apartments Inc C/O Hands plays a vital role in supporting the needs of this segment of the population, contributing to their overall well-being and quality of life.
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Impact
October, 2024
Oak Haven Apartments Inc C/O Hands plays a crucial role in enhancing the quality of life for qualified elderly individuals in Waterford, PA. By offering 22 attractive and affordable rental apartments, it addresses the significant need for accessible housing options within the community. This initiative not only provides safe and suitable living environments for seniors but also fosters a sense of community among residents.
The apartments are designed to be welcoming and supportive, contributing to the overall well-being of the elderly population by enabling them to live independently while still being part of a vibrant neighborhood. Through its commitment to maintaining these housing units, Oak Haven Apartments Inc ensures that seniors have a stable place to call home, which is essential for their dignity and security. The efforts of this organization alleviate financial burdens, allowing elderly individuals to focus on their health and community involvement, ultimately enriching the fabric of the local society.
This information is meant to be a general summary of Oak Haven Apartments Inc C/O Hands. 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: $1,578
- Program Service Revenue: $87,903
- Gross Receipts: $183,413
Assets and Liabilities:
- Total Assets: $1,431,952
- Total Liabilities: $1,998,149
- Net Assets: -$566,197
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$87,903
Organization Details
Founding Year
2005
Phone
(814) 453-3333Principal Officer
Sharon Richardson
Main Address
7 EAST 7TH STREET, ERIE, PA, 16501
Website
www.hands-erie.orgNTEE Category
Code: L22 - Housing
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