Overview
What is Luther Gardens Inc?
Luther Gardens Inc is a nonprofit organization that specializes in providing middle-income housing solutions. As a HUD project under 221(d)(3), they offer 121 units, a mix of apartments and townhouses, catering to this income demographic. By the end of 2021, their association had grown to a membership of 121 individuals. Their primary mission is to offer affordable housing opportunities, helping to meet the needs of a specific income group in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, Two-Star out of Four Star rating.
Luther Gardens Inc has received a Two-Star rating, indicating a moderate level of performance based entirely on its Accountability & Finance score. The organization excels in maintaining an independent board, with 100% of its 12 members being independent, and it documents board meeting minutes effectively. It also achieves a high program expense ratio of nearly 85%, suggesting a strong commitment to its mission-driven activities.
However, the charity's overall score is negatively impacted by its liabilities to assets ratio, which stands at 134.52%, indicating potential financial stability concerns. While it scores well in other accountability measures, the significant liabilities compared to assets may warrant caution for potential donors. Overall, while Luther Gardens Inc demonstrates solid governance practices, it faces challenges regarding financial health that could affect its long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Luther Gardens Inc legitimate?
Luther Gardens Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Luther Gardens 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: $139,524
For more financial information, click here
What is the mission statement of Luther Gardens Inc?
Luther Gardens Inc, as a organization, is dedicated to providing middle income housing under the 221(d)(3) program, overseen by the HUD. As of December 31, 2021, the association manages 121 units, comprising both apartments and townhouses, serving this specific housing need. The mission of Luther Gardens Inc is centered around offering affordable housing options to a particular income bracket, thereby contributing to the housing sector with its HUD-backed project.
Who is the CEO of Luther Gardens Inc?
Dennis Payne is the Board Member of Luther Gardens Inc.
What is the revenue of Luther Gardens Inc?
Luther Gardens Inc's revenue in 2022 was $1,100,319.
Who are the executives of Luther Gardens Inc and what are their salaries?
The average compensation at Luther Gardens Inc during 2022 was $11,627. There are 12 employees at Luther Gardens Inc.
Here are 12 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- 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 Luther Gardens Inc?
Luther Gardens Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Luther Gardens Inc
Luther Gardens Inc, as a nonprofit organization, is dedicated to providing middle-income housing. Specifically, it operates under the HUD program 221(d)(3), offering a total of 121 units in the form of apartments and townhouses. The association's mission is to serve as a housing solution for individuals and families who fall into the middle income category, contributing to the provision of suitable housing options within this sector. As of December 31, 2021, Luther Gardens Inc boasts a membership of 121, reflecting the number of families and individuals benefiting from their housing services. By focusing on middle income housing, Luther Gardens Inc is playing a crucial role in addressing the housing needs of a significant portion of the population, thereby contributing to a more balanced and equitable housing landscape.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Luther Gardens Inc's impact lies in providing middle-income housing under section 221(d)(3) as a HUD project in Topeka, Kansas. With a membership of 121 individuals as of December 31, 2021, Luther Gardens offers 121 units comprised of apartments and townhouses to support individuals in need of affordable housing options. This initiative helps address the housing needs of middle-income individuals in the community, contributing to the overall stability and well-being of its residents.
This information is meant to be a general summary of Luther Gardens 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: $587
- Program Service Revenue: $1,096,671
- Gross Receipts: $1,100,319
Assets and Liabilities:
- Total Assets: $3,160,327
- Total Liabilities: $4,305,515
- Net Assets: -$1,145,188
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTS, LAUNDRY & TENANT CHGS
Revenue
$1,096,671
Organization Details
Founding Year
1989
Phone
(785) 273-2995Principal Officer
Dennis Payne
Main Address
5000 HUNTOON, TOPEKA, KS, 66604
NTEE Category
Code: L50 - Housing
If you are a representative of Luther Gardens Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.