Overview
What is Atchison Terrace Inc Terrace Hills Apartments?
Atchison Terrace Inc Terrace Hills Apartments is a nonprofit organization dedicated to providing affordable housing for individuals with low income. Operating under Section 223(f) of the National Housing Act and a HUD Section 8 housing assistance contract, they manage a complex to offer sustainable living solutions. Their mission is deeply rooted in the provision of low-income housing, ensuring that individuals in need have a safe and secure place to call home.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating
Atchison Terrace Inc Terrace Hills Apartments holds a 79% rating, showcasing a solid performance primarily driven by its Accountability & Finance score. This indicates that the organization adheres to a set of standards that contribute to transparency and responsible financial management. The charity has a fully independent board, demonstrating commitment to governance, and maintains several policies that enhance accountability, including conflict of interest and whistleblower policies.
Strengths highlighted in the evaluation include a high program expense ratio of 79.55%, reflecting that a significant portion of its funding is directed toward its programs rather than administrative costs. Additionally, the absence of any material diversion of assets signals a strong ethical stance in financial practices. The organization also successfully documents its board meeting minutes, which is a positive sign of operational transparency.
However, a notable weakness is the liabilities to assets ratio of 119.66%, which suggests that the organization's liabilities exceed its assets. This aspect raises concerns about its financial sustainability and long-term viability. Overall, while Atchison Terrace Inc demonstrates strong accountability practices, it faces challenges that could impact its financial health moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Atchison Terrace Inc Terrace Hills Apartments legitimate?
Atchison Terrace Inc Terrace Hills Apartments is a legitimate nonprofit organization registered as a 501(c)(3) entity. Atchison Terrace Inc Terrace Hills Apartments 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: $78,280
For more financial information, click here
What is the mission statement of Atchison Terrace Inc Terrace Hills Apartments?
Atchison Terrace Inc's Terrace Hills Apartments is dedicated to providing low-income housing solutions. They achieve this goal by operating a complex that adheres to Section 223(f) of the National Housing Act, while also holding a HUD Section 8 Housing Assistance contract. The organization's mission is to make affordable housing accessible to individuals who require it, contributing to a more inclusive community. They offer housing solutions that cater to the needs of those with limited financial means, thereby promoting social equality.
Who is the CEO of Atchison Terrace Inc Terrace Hills Apartments?
Michael Halterman is the President of Atchison Terrace Inc Terrace Hills Apartments.
What is the revenue of Atchison Terrace Inc Terrace Hills Apartments?
Atchison Terrace Inc Terrace Hills Apartments's revenue in 2022 was $466,069.
Who are the executives of Atchison Terrace Inc Terrace Hills Apartments and what are their salaries?
The average compensation at Atchison Terrace Inc Terrace Hills Apartments during 2022 was $39,140. There are 2 employees at Atchison Terrace Inc Terrace Hills Apartments.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- 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 Atchison Terrace Inc Terrace Hills Apartments?
Atchison Terrace Inc Terrace Hills Apartments's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Atchison Terrace Inc Terrace Hills Apartments
Atchison Terrace Inc Terrace Hills Apartments is committed to providing affordable housing for individuals with low income. Operating under Section 223(f) of the National Housing Act and with a HUD Section 8 housing assistance contract, this corporation operates a complex to offer housing solutions for those in need. By providing low income housing, Atchison Terrace Inc Terrace Hills Apartments plays a significant role in ensuring that everyone has access to a place to call home, regardless of their financial situation. This mission is crucial in fostering a sense of stability and security for those who might otherwise struggle to find affordable housing options.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Atchison Terrace Terrace Hills Apartments provides vital low-income housing options in Kansas City, MO. By offering affordable housing through a complex operated under section 223(f) of the national housing act with a HUD Section 8 housing assistance contract, this organization positively impacts the community by providing much-needed shelter for those who may otherwise struggle to find safe and affordable housing options. The organization's mission to provide low-income housing contributes to the overall well-being and stability of individuals and families in the area.
This information is meant to be a general summary of Atchison Terrace Inc Terrace Hills Apartments. 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: $1,492
- Program Service Revenue: $135,971
- Gross Receipts: $466,069
Assets and Liabilities:
- Total Assets: $1,569,606
- Total Liabilities: $1,878,213
- Net Assets: -$308,607
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$135,971
Organization Details
Founding Year
1997
Phone
(816) 561-4240Principal Officer
Michael Halterman
Main Address
7920 WARD PARKWAY, KANSAS CITY, MO, 64114
NTEE Category
Code: T70 - Philanthropy
If you are a representative of Atchison Terrace Inc Terrace Hills Apartments and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.