Overview
What is Lucas Housing Services Corporation?
Lucas Housing Services Corporation is a nonprofit organization situated in Toledo, Ohio, specifically at 435 Nebraska Avenue. Their primary mission is to improve the economic standing of their community and attract prosperity to a disadvantaged low-income neighborhood. They achieve this by fostering collaborative partnerships and creating high-quality housing opportunities. By doing so, they aim to empower individuals and contribute to the development of vibrant neighborhoods for the present generation. Their activities, as per their schedule, are not specified in the provided information.
Official website here: www.lmha.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star Rating
Lucas Housing Services Corporation has received an overall score of 81%, reflecting a solid performance in the area of Accountability & Finance. The organization boasts a majority independent board, which is a positive indicator of governance. With no material diversion of assets reported and a high program expense ratio of 94.28%, it shows a strong commitment to utilizing funds effectively towards its mission.
The charity has implemented several key policies that contribute to its accountability, including conflict of interest and whistleblower policies, both of which are in place and properly documented. The organization also maintains good financial health, evidenced by a liabilities to assets ratio of 16.38%, indicating manageable debt levels.
While the overall rating is commendable, the score is derived solely from the Accountability & Finance category. This may suggest that other aspects, such as impact and effectiveness, were not assessed in this evaluation. Nonetheless, the strong governance practices and financial metrics provide a reassuring picture of the charity’s operations.
This AI summary has been generated from information found on Charity Navigator.
Is Lucas Housing Services Corporation legitimate?
Lucas Housing Services Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lucas Housing Services 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: $113,780
For more financial information, click here
Official website here: www.lmha.org
What is the mission statement of Lucas Housing Services Corporation?
Lucas Housing Services Corporation's mission is centered around enhancing the economic standing of the community. The organization strives to draw wealth into a disadvantaged low-income area. They achieve this objective by creating high-quality housing opportunities and fostering collaborative partnerships. In the process, they stimulate economic growth and empower individuals. Furthermore, Lucas Housing Services Corporation plays a significant role in shaping the neighborhoods of the future for the benefit of the current population.
Official website here: www.lmha.org
What is the revenue of Lucas Housing Services Corporation?
Lucas Housing Services Corporation's revenue in 2023 was $2,039,132.
Official website here: www.lmha.org
Who are the executives of Lucas Housing Services Corporation and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $208,397
- Other: $55,286
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.lmha.org
Where can I find the form 990 for Lucas Housing Services Corporation?
Lucas Housing Services Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lmha.org
Learn more at the official website: www.lmha.org
Mission Statement of Lucas Housing Services Corporation
Lucas Housing Services Corporation is an organization dedicated to improving the economic status of its community. Their mission is twofold: firstly, they aim to attract wealth to a disadvantaged, low-income area. Secondly, they strive to create high-quality housing opportunities and foster community development through collaborative partnerships. By stimulating economic growth, Lucas Housing Services Corporation empowers individuals and contributes to the creation of thriving neighborhoods for today's population. Their ultimate goal is to uplift the community, working towards a better future for its inhabitants.
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Impact
July, 2024
Lucas Housing Services Corporation's impact can be seen in their efforts to create quality housing opportunities, build communities through collaborative partnerships, and stimulate economic growth. By empowering individuals and developing neighborhoods, they are contributing to the upliftment of the community and attracting wealth to blighted low-income areas. Through their mission-driven work, they are helping to shape the neighborhoods of tomorrow for the people of today in Toledo, Ohio.
This information is meant to be a general summary of Lucas Housing Services 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: -$200,451
- Program Service Revenue: $352,773
- Gross Receipts: $2,039,132
Assets and Liabilities:
- Total Assets: $2,805,827
- Total Liabilities: $459,599
- Net Assets: $2,346,228
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL PAYMENTS
Revenue
$352,773
Organization Details
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