Overview
What is Chrysalis Lutheran Homes Inc?
Chrysalis Lutheran Homes Inc is a nonprofit organization situated in Grand Island, Nebraska. Their primary mission is to construct and manage an apartment complex, providing 72 units of affordable living accommodations for elderly and low-income individuals. These housing options are assisted by the U.S. Department of Housing and Urban Development (HUD). With a dedicated workforce of 11 employees, Chrysalis Lutheran Homes Inc strives to ensure that these residents have a secure and comfortable living environment.
Official website here: www.chrysalislutheranhomes.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69% (Two-Star out of Four Star rating)
Chrysalis Lutheran Homes Inc has received a two-star rating, indicating some strengths and notable weaknesses in its operations. The organization demonstrates strong accountability and financial management through an independent board and a high program expense ratio of 93.03%, reflecting a significant portion of its budget directed toward programs rather than administrative costs.
Despite these strengths, there are critical areas of concern. The absence of policies such as a conflict of interest, whistleblower, and document retention policy raises questions about governance practices. Additionally, the liabilities to assets ratio of 146.94% indicates potential financial instability, which may pose risks to the organization's sustainability.
Overall, while Chrysalis Lutheran Homes Inc shows commitment to programmatic spending and independent oversight, its governance gaps and financial liabilities suggest that potential donors should exercise caution and consider these factors before contributing.
This AI summary has been generated from information found on Charity Navigator.
Is Chrysalis Lutheran Homes Inc legitimate?
Chrysalis Lutheran Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chrysalis Lutheran Homes 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: $93,647
For more financial information, click here
Official website here: www.chrysalislutheranhomes.com
What is the mission statement of Chrysalis Lutheran Homes Inc?
Chrysalis Lutheran Homes Inc was established with the purpose of constructing and managing an apartment complex comprising 72 units, under Section 21218 of the National Housing Act. Their primary mission is to provide HUD-assisted housing for elderly and low-income tenants. This organization is dedicated to ensuring that these individuals have access to affordable living arrangements. By offering such housing, Chrysalis Lutheran Homes Inc contributes to the well-being and residential stability of vulnerable communities.
Official website here: www.chrysalislutheranhomes.com
Who is the CEO of Chrysalis Lutheran Homes Inc?
Duane Burns is the President of Chrysalis Lutheran Homes Inc.
Official website here: www.chrysalislutheranhomes.com
What is the revenue of Chrysalis Lutheran Homes Inc?
Chrysalis Lutheran Homes Inc's revenue in 2022 was $585,818.
Official website here: www.chrysalislutheranhomes.com
Who are the executives of Chrysalis Lutheran Homes Inc and what are their salaries?
The average compensation at Chrysalis Lutheran Homes Inc during 2022 was $8,513. There are 11 employees at Chrysalis Lutheran Homes Inc.
Here are 10 key members and their salaries:
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Official website here: www.chrysalislutheranhomes.com
Where can I find the form 990 for Chrysalis Lutheran Homes Inc?
Chrysalis Lutheran Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chrysalislutheranhomes.com
Learn more at the official website: www.chrysalislutheranhomes.com
Mission Statement of Chrysalis Lutheran Homes Inc
Chrysalis Lutheran Homes Inc is a corporation with a mission to provide housing for elderly and low-income individuals. Established under Section 21218 of the National Housing Act, the organization constructs and operates an apartment complex comprising 72 units. This housing is substantially assisted by the U.S. Department of Housing and Urban Development (HUD). Chrysalis Lutheran Homes Inc offers this housing as a means to cater to the needs of elderly and economically disadvantaged tenants, providing them with a safe and affordable living space.
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Impact
July, 2024
Chrysalis Lutheran Homes Inc provides essential HUD-assisted housing options for elderly and low-income residents in Grand Island, NE. Their impact is evident in the 72-unit apartment complex they have constructed and operate under Section 21218 of the National Housing Act. By offering affordable and supportive housing options, Chrysalis Lutheran Homes Inc positively contributes to the well-being and quality of life of vulnerable populations in the community.
This information is meant to be a general summary of Chrysalis Lutheran Homes 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: $414
- Program Service Revenue: $573,407
- Gross Receipts: $585,818
Assets and Liabilities:
- Total Assets: $1,241,760
- Total Liabilities: $1,813,079
- Net Assets: -$571,319
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$548,407
GRANTS
Revenue
$25,000
Organization Details
Founding Year
1980
Phone
(308) 381-7227Principal Officer
Duane Burns
Main Address
2807 W FAIDLEY AVE, GRAND ISLAND, NE, 68803
NTEE Category
Code: L20Z - Housing
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