Overview
What is Lakeview Village Phase Ii Inc?
Lakeview Village Phase II Inc is a nonprofit organization situated in Speedway, Indiana, with a specific address at 1130 North Norfolk Street. The primary mission of this organization is to provide housing opportunities for individuals with low to very low income, in accordance with federal programs. They manage and operate a 26-unit apartment complex under Section 202 of the National Housing Act. This nonprofit is committed to offering affordable living spaces and contributing to the community by catering to the housing needs of those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating, 73%
Lakeview Village Phase II Inc has received a two-star rating from Charity Navigator, indicating a need for improvement. The organization excels in accountability and finance, achieving a perfect score of 100%. Key strengths include having a fully independent board, which scored 10 out of 10 points for both the majority of independent board members and board size. Additionally, they demonstrate strong financial practices, with a low liabilities to assets ratio and a 100% program expense ratio.
Despite these strengths, the overall rating suggests room for growth in other areas that may not have been specified in the available data. The organization has ensured that it documents board meeting minutes, scoring well in this aspect, but it may face challenges that prevent it from achieving higher ratings. Continuous improvements in operational transparency and effectiveness could enhance its standing in future evaluations.
This AI summary has been generated from information found on Charity Navigator.
Is Lakeview Village Phase Ii Inc legitimate?
Lakeview Village Phase Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lakeview Village Phase Ii 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: $29,178
For more financial information, click here
What is the mission statement of Lakeview Village Phase Ii Inc?
Lakeview Village Phase II Inc. is committed to providing housing for individuals with low or very low income, operating under various federal programs. Their primary mission is to ensure that these individuals have access to suitable living spaces. The organization manages a 26-unit apartment project under Section 202 of the National Housing Act, demonstrating their dedication to this cause. By offering housing solutions through this federal program, Lakeview Village Phase II Inc. contributes to the well-being and stability of its residents.
Who is the CEO of Lakeview Village Phase Ii Inc?
Timothy Paino is the President of Lakeview Village Phase Ii Inc.
What is the revenue of Lakeview Village Phase Ii Inc?
Lakeview Village Phase Ii Inc's revenue in 2023 was $157,351.
Who are the executives of Lakeview Village Phase Ii Inc and what are their salaries?
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 Lakeview Village Phase Ii Inc?
Lakeview Village Phase Ii Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lakeview Village Phase Ii Inc
Lakeview Village Phase II Inc is committed to providing housing solutions for individuals who fall under the categories of low-income and very low-income, in adherence to federal programs. This mission is carried out through the operation of a 26-unit apartment project, which is part of Section 202 of the National Housing Act. By offering affordable housing, Lakeview Village Phase II Inc plays a significant role in contributing to the well-being of its residents, providing them with a stable living environment.
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Impact
October, 2024
Lakeview Village Phase II Inc plays a vital role in addressing the housing needs of low and very low-income individuals in Speedway, Indiana. By owning and operating a 26-unit apartment complex under Section 202 of the National Housing Act, it offers affordable housing solutions that are crucial for residents who might otherwise struggle to find safe and stable accommodations.
Through its focus on federal housing programs, the organization not only provides shelter but also fosters a community environment where residents can build stable lives. This initiative helps to reduce homelessness and housing insecurity, promoting overall well-being and stability for its occupants. The impact of Lakeview Village Phase II Inc extends beyond housing, as it contributes to the social and economic fabric of the community by enabling access to essential services and resources for its residents.
This information is meant to be a general summary of Lakeview Village Phase Ii 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 2023.
- Investment Income: $685
- Program Service Revenue: $150,065
- Gross Receipts: $157,351
Assets and Liabilities:
- Total Assets: $1,060,949
- Total Liabilities: $29,431
- Net Assets: $1,031,518
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OTHER TENANT RENT
Revenue
$94,387
HAP RENTS
Revenue
$55,678
Organization Details
Founding Year
2003
Phone
(317) 224-5223Principal Officer
Timothy Paino
Main Address
1130 NORTH NORFOLK STREET, SPEEDWAY, IN, 46224
NTEE Category
Code: L22 - Housing
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