Overview
What is Heritage Acres Inc?
Heritage Acres Inc, located in Sturgis, South Dakota, is a nonprofit organization that specializes in providing low-income housing for elderly and handicapped individuals. Their mission revolves around offering affordable housing options for this specific demographic, with rents determined based on the individual tenant's income. The organization, with its commitment to addressing housing needs, has successfully provided 106 units to help these individuals maintain a decent living standard.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, Two-Star out of Four Star rating.
Heritage Acres Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The organization demonstrates strengths in governance, with 100% of its board members being independent and a strong audit and oversight committee. Additionally, it allocates a significant portion of its expenses (76.80%) to programs, reflecting its commitment to its mission.
However, the organization has notable weaknesses that contributed to its rating. Key policies, such as a conflict of interest and a whistleblower policy, are missing, which raises concerns about its governance practices. Furthermore, the charity has a high liabilities-to-assets ratio at 104.48%, suggesting potential financial instability that may affect its operations and sustainability moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Heritage Acres Inc legitimate?
Heritage Acres Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Heritage Acres 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 Heritage Acres Inc?
Heritage Acres Inc is dedicated to providing affordable housing for elderly and handicapped individuals. Their mission is to ensure that rent is based on the tenant's income, making housing accessible for those in need. The organization has successfully provided 106 units of such housing, demonstrating their commitment to this cause. Their aim is to enhance the living conditions of these individuals, providing them with a secure and comfortable environment. By offering housing based on income, Heritage Acres Inc is helping to bridge the gap and ensure that everyone has a place to call home, regardless of their financial situation.
Who is the CEO of Heritage Acres Inc?
Janine Short is the President of Heritage Acres Inc.
What is the revenue of Heritage Acres Inc?
Heritage Acres Inc's revenue in 2022 was $892,602.
Who are the executives of Heritage Acres Inc and what are their salaries?
There 2 volunteers at Heritage Acres Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Heritage Acres Inc?
Heritage Acres Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Heritage Acres Inc
Heritage Acres Inc, as a nonprofit organization, is dedicated to providing affordable housing solutions for elderly and handicapped individuals. Their mission is centered around offering living spaces where rent is determined based on the income of the tenants. This approach ensures that individuals who fall under these categories can secure a place to call home without being burdened by exorbitant housing costs. By offering low-income housing, Heritage Acres Inc plays a significant role in enabling these individuals to maintain their independence and dignity, thereby improving their overall quality of life. Through their housing provision services, the organization aims to create a supportive environment that accommodates the unique needs of elderly and handicapped individuals, thereby enhancing their overall well-being and fostering a sense of community.
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Impact
July, 2024
Heritage Acres Inc's impact is significant in providing essential low-income housing for elderly and handicapped individuals in Sturgis, SD. By offering 106 units with rent based on tenant income, Heritage Acres Inc plays a crucial role in addressing the housing needs of this vulnerable population. This support allows elderly and handicapped individuals to have a safe and stable living environment while maintaining their financial stability. Through their mission of providing affordable housing, Heritage Acres Inc positively impacts the quality of life for those in need within the community.
This information is meant to be a general summary of Heritage Acres 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: $1,409
- Program Service Revenue: $855,870
- Gross Receipts: $892,602
Assets and Liabilities:
- Total Assets: $6,022,333
- Total Liabilities: $6,065,263
- Net Assets: -$42,930
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUBSIDIZED RENT
Revenue
$855,870
Organization Details
Founding Year
1985
Phone
(605) 720-0697Principal Officer
Janine Short
Main Address
2340 EAST AVENUE, STURGIS, SD, 57785
NTEE Category
Code: L22 - Housing
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