Overview
What is Sycamore Place Ii Senior Housing Corporation?
Sycamore Place II Senior Housing Corporation is a nonprofit organization situated in Walnut Creek, California. Their primary mission is to offer affordable housing options for senior citizens, achieving this goal through the ownership and management of the Sycamore Place II Apartments, a 40-unit complex situated in Brentwood, California. By providing affordable rental housing, the corporation contributes to the well-being and comfort of senior citizens in the community, ensuring they can maintain a decent quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71% (Two-Star out of Four Star Rating)
Sycamore Place II Senior Housing Corporation has received a Two-Star rating from Charity Navigator, reflecting a score of 71%. This rating is based solely on the Accountability & Finance category, indicating that while the organization demonstrates strong governance and transparency practices, there are significant issues with its financial health.
The organization showcases strengths in areas such as maintaining a majority independent board and having robust financial oversight, scoring full points in independent board composition and the presence of an audit committee. Additionally, Sycamore Place has implemented a whistleblower policy and documents its board meeting minutes, promoting accountability and good governance.
However, a critical concern lies in its liabilities to assets ratio, which stands at 194.41%, resulting in a score of zero in that area. This raises questions about the organization's financial stability and may impact its ability to serve its mission effectively. Overall, while Sycamore Place II excels in governance and transparency, the financial metrics suggest potential vulnerabilities that stakeholders should consider.
This AI summary has been generated from information found on Charity Navigator.
Is Sycamore Place Ii Senior Housing Corporation legitimate?
Sycamore Place Ii Senior Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sycamore Place Ii Senior Housing Corporation 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
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What is the mission statement of Sycamore Place Ii Senior Housing Corporation?
The mission of Sycamore Place II Senior Housing Corporation is centered around providing affordable rental housing for senior citizens. This organization fulfills this goal by managing a 40-unit apartment complex, serving as a home for seniors in need. The corporation's mission is driven by the desire to make housing accessible for this specific demographic, ensuring they can live comfortably and securely. By owning and operating the Sycamore Place II Apartments in Brentwood, California, the corporation is able to directly contribute to the well-being of senior citizens, providing them with a much-needed sense of community and stability.
Who is the CEO of Sycamore Place Ii Senior Housing Corporation?
Gerald Lang is the President of Sycamore Place Ii Senior Housing Corporation.
What is the revenue of Sycamore Place Ii Senior Housing Corporation?
Sycamore Place Ii Senior Housing Corporation's revenue in 2023 was $723,560.
Who are the executives of Sycamore Place Ii Senior Housing Corporation and what are their salaries?
There 8 volunteers at Sycamore Place Ii Senior Housing Corporation.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Sycamore Place Ii Senior Housing Corporation?
Sycamore Place Ii Senior Housing Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Sycamore Place Ii Senior Housing Corporation
Sycamore Place II Senior Housing Corporation is committed to providing affordable rental housing for senior citizens. This nonprofit organization achieves this mission by owning and managing the Sycamore Place II Apartments, a 40-unit complex located in Brentwood, California. The corporation's primary goal is to ensure that senior citizens have access to affordable housing, providing them with a secure and comfortable living environment. By offering affordable rental options, Sycamore Place II Senior Housing Corporation aims to alleviate the financial burden that many seniors face, enabling them to focus on other aspects of their lives. The organization's dedication to affordable rental housing for senior citizens is a vital contribution to the well-being of this demographic, providing them with a sense of stability and independence.
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Impact
July, 2024
Sycamore Place II Senior Housing Corporation's impact includes providing essential affordable rental housing for senior citizens in Brentwood, California. By owning and operating the Sycamore Place II Apartments, a 40-unit rental housing complex, this organization ensures that seniors have access to a safe and comfortable living environment. Through their mission to provide affordable housing for seniors, Sycamore Place II Senior Housing Corporation contributes to the well-being and quality of life of senior citizens in the community.
This information is meant to be a general summary of Sycamore Place Ii Senior Housing Corporation. 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: $449
- Program Service Revenue: $723,111
- Gross Receipts: $723,560
Assets and Liabilities:
- Total Assets: $3,721,840
- Total Liabilities: $7,235,867
- Net Assets: -$3,514,027
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Forgiveness of Debt
Revenue
$297,000
Low-Income tenant rent
Revenue
$178,114
Misc. tenant fees
Revenue
$1,382
Miscellaneous Revenue
Revenue
$27,521
Tenant Assistance
Revenue
$218,000
Organization Details
Founding Year
2002
Phone
(510) 632-6712Principal Officer
Gerald Lang
Main Address
1855 Olympic Blvd 300, Walnut Creek, CA, 94546
NTEE Category
Code: P75 - Human services
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