Overview
What is Ll Apartments Inc?
Ll Apartments Inc is a nonprofit organization located in Cresco, Iowa. Their primary mission involves owning apartment buildings and generating revenue through rent. This income is then channeled towards funding scholarships and community projects. Ll Apartments Inc demonstrates a commitment to supporting education and community development by providing financial aid and contributing to various initiatives. Their work extends beyond managing rental properties, making a positive impact on the lives of individuals in their local community and beyond.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (73%)
Ll Apartments Inc has received a two-star rating from Charity Navigator, indicating that the organization needs improvement. While it scores well in several areas such as accountability and finance, with perfect marks for independent board members and program expense ratio, there are significant gaps in governance policies that are reflected in its overall score.
The organization demonstrates strong financial health, evidenced by a low liabilities to assets ratio and a fully funded program expense ratio. However, it falls short in areas related to governance, lacking essential policies such as a conflict of interest policy, a whistleblower policy, and proper documentation retention practices.
These deficiencies could raise concerns about transparency and accountability. Addressing these governance issues would enhance Ll Apartments Inc's operational integrity and potentially improve its rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Ll Apartments Inc legitimate?
Ll Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ll 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 Ll Apartments Inc?
Ll Apartments Inc's mission revolves around the ownership of apartment buildings, with a significant focus on community engagement and philanthropy. The company generates funds through its net income and channels these resources into two primary areas: scholarships and community projects. By providing financial aid for college education, Ll Apartments Inc empowers individuals, and through its community projects, it contributes to local development and betterment. The organization's mission can be summarized as utilizing its income from apartment buildings to grant scholarships and support community initiatives.
Who is the CEO of Ll Apartments Inc?
Courtney Shimek is the President of Ll Apartments Inc.
What is the revenue of Ll Apartments Inc?
Ll Apartments Inc's revenue in 2022 was $40,518.
Who are the executives of Ll Apartments Inc and what are their salaries?
There 8 volunteers at Ll Apartments Inc.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Ll Apartments Inc?
Ll Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ll Apartments Inc
Ll Apartments Inc, as a nonprofit organization, is dedicated to owning apartment buildings. The primary objective of this venture is not profit-driven, but rather, it serves as a means to generate net income. This income is then channeled towards two distinct purposes: providing financial aid for college scholarships and funding community projects. By investing in real estate and subsequently donating a portion of the earnings, Ll Apartments Inc contributes to the educational aspirations of individuals and improves various community initiatives. This philanthropic approach to property management allows Ll Apartments Inc to make a tangible impact on both individual lives and community development.
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Impact
August, 2024
Ll Apartments Inc's impact lies in providing affordable housing through owning apartment buildings while also contributing to community development and education. Through the donations from its net income, the organization not only ensures housing stability but also supports college scholarships and community projects in Cresco, Iowa. Its tangible impact includes awarding scholarships for higher education and funding initiatives that enhance the local community. This dual focus on housing and community betterment demonstrates Ll Apartments Inc's commitment to making a meaningful difference in the lives of individuals and the overall community.
This information is meant to be a general summary of Ll 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.
- Gross Receipts: $111,400
Assets and Liabilities:
- Total Assets: $660,946
- Total Liabilities: $48,009
- Net Assets: $612,937
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Organization Details
Founding Year
2001
Phone
(563) 547-3321Principal Officer
Courtney Shimek
Main Address
PO BOX 377, Cresco, IA, 52136
NTEE Category
Code: L22Z - Housing
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