Overview
What is East 5th Street Apartments Inc?
East 5th Street Apartments Inc, located at 2585 W Clemmonsville Road Suite 102, Winston-Salem, NC 27127, operates as an 8-unit apartment complex with a mission to provide permanent housing for homeless individuals. This nonprofit organization is dedicated to offering a stable living environment for those in need. By doing so, they contribute to the betterment of the community by offering a solution to homelessness.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58% (One-Star out of Four Stars)
East 5th Street Apartments Inc has received a low rating of 58%, indicating significant concerns regarding its accountability and financial management practices. While the organization scores well in aspects such as having an independent board and high program expense ratio, it falls short in critical areas that impact overall governance.
The organization has a perfect score for its independent board members and board size, indicating strong governance in those areas. Additionally, it allocates a noteworthy 94.32% of its expenses directly to programs, suggesting a commitment to its mission. However, the high liabilities to assets ratio raises concerns about its financial stability.
On the downside, several essential policies are missing, including a conflict of interest policy and a whistleblower policy, which could pose risks to transparency and accountability. The absence of these documents, along with the missing tax form on its website, contributes to the low rating, highlighting the need for improvement in governance practices to enhance trust and operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is East 5th Street Apartments Inc legitimate?
East 5th Street Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. East 5th Street 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 East 5th Street Apartments Inc?
East 5th Street Apartments Inc is committed to providing permanent housing solutions for homeless individuals. Operating as an eight-unit apartment complex, their mission is to offer a secure and stable living environment for those in need. By providing permanent housing, they aim to contribute to the overall well-being and reintegration of these individuals into society. Their goal is to create a sense of community and offer a supportive environment, helping homeless individuals regain their independence and start a new chapter in their lives.
Who is the CEO of East 5th Street Apartments Inc?
Tammy Vernon is the President of East 5th Street Apartments Inc.
What is the revenue of East 5th Street Apartments Inc?
East 5th Street Apartments Inc's revenue in 2022 was $53,572.
Who are the executives of East 5th Street Apartments Inc and what are their salaries?
There 4 volunteers at East 5th Street Apartments Inc.
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 East 5th Street Apartments Inc?
East 5th Street Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of East 5th Street Apartments Inc
East 5th Street Apartments Inc is dedicated to providing permanent housing solutions for homeless individuals. In essence, this nonprofit organization operates an eight-unit apartment complex, serving as a sanctuary for those in need. Its mission is centered around offering a stable living space, aiming to provide a lasting solution to homelessness. By providing permanent housing, East 5th Street Apartments Inc seeks to contribute to the overall well-being and independence of its residents.
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Impact
August, 2024
East 5th Street Apartments Inc's impact lies in providing permanent housing for homeless individuals through its operation of an 8-unit apartment complex in Winston-Salem, NC. By offering stable and secure housing solutions, this organization plays a crucial role in addressing homelessness and improving the lives of individuals in need.
This information is meant to be a general summary of East 5th Street 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: $4
- Program Service Revenue: $14,908
- Gross Receipts: $53,572
Assets and Liabilities:
- Total Assets: $848,619
- Total Liabilities: $575,089
- Net Assets: $273,530
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$14,908
Organization Details
Founding Year
2011
Phone
(336) 765-3906Principal Officer
Tammy Vernon
Main Address
2585 W CLEMMONSVILLE RD SUITE 102, WINSTONSALEM, NC, 27127
NTEE Category
Code: L41 - Housing
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