Overview
What is James Lenox House Inc?
James Lenox House Inc, a nonprofit organization based in Manhattan, New York, operates as a Mitchell Lama older adult rental housing project. The project, in accordance with the New York State Housing Finance Law, provides 99 residential apartments at below-market rents to individuals aged 55 and above who have limited financial resources. In the fiscal year 2022, the residence housed around 110 residents. The organization, with a team of seven employees, is dedicated to offering affordable housing options for older adults, ensuring they maintain a sense of independence and community in the heart of New York City.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
James Lenox House Inc has earned an 81% rating from Charity Navigator, reflecting a solid performance in accountability and finance. The organization's score is derived from a single beacon, emphasizing its strong financial practices and governance. The independent board of directors is notably robust, with 100% of members being independent, contributing to overall transparency and integrity in operations.
The charity demonstrates commendable financial responsibility, with a program expense ratio of 89.38%, indicating that a significant portion of its funds is directed towards its programs rather than administrative costs. Additionally, it has a comprehensive set of policies in place, including conflict of interest and whistleblower policies, which further enhance its accountability.
However, the organization’s liabilities to assets ratio received a lower score, which suggests potential concerns regarding financial risk. While this rating indicates a stable governance structure, stakeholders might want to monitor the financial health of the organization closely to ensure long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is James Lenox House Inc legitimate?
James Lenox House Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. James Lenox House 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: $380,932
For more financial information, click here
What is the mission statement of James Lenox House Inc?
James Lenox House Inc. is committed to providing affordable housing for older adults with limited financial resources. Located in Manhattan, this not-for-profit organization offers 99 residential apartments at below market rates. The mission of James Lenox House Inc. is to serve individuals aged 55 and above, ensuring they can reside in a comfortable environment despite their financial constraints. The organization operates under the New York State Housing Finance Law, as a Mitchell Lama project, and provides a home for approximately 110 residents annually.
Who is the CEO of James Lenox House Inc?
Nicola M Heryet is the Executive Dir. of James Lenox House Inc.
What is the revenue of James Lenox House Inc?
James Lenox House Inc's revenue in 2022 was $1,658,775.
Who are the executives of James Lenox House Inc and what are their salaries?
The average compensation at James Lenox House Inc during 2022 was $54,419. There are 7 employees and 6 volunteers at James Lenox House Inc.
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $300,000
- Other: $37,341
- 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 James Lenox House Inc?
James Lenox House Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of James Lenox House Inc
James Lenox House Inc, as a not-for-profit organization, is dedicated to providing a rental residence for older adults who are financially modest. Situated in Manhattan, this establishment offers 99 residential apartments at prices below the market rate. The residence is specifically tailored for individuals who have reached the age of 55, ensuring they receive suitable housing accommodations. By offering these apartments at affordable prices, James Lenox House Inc aims to support older adults with limited financial resources, providing them with a comfortable living environment.
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Impact
July, 2024
James Lenox House Inc provides affordable housing for older adults in Manhattan, offering below-market rent for those aged 55 and older with limited financial resources. The organization's impact includes providing a secure and comfortable living environment for approximately 110 residents, ensuring that they have a place to call home in an expensive city like New York. By offering affordable housing options, James Lenox House Inc contributes to improving the quality of life for older adults who may otherwise struggle to find suitable accommodation in the city.
This information is meant to be a general summary of James Lenox House 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.
- Program Service Revenue: $1,657,162
- Gross Receipts: $1,658,775
Assets and Liabilities:
- Total Assets: $2,829,424
- Total Liabilities: $2,647,575
- Net Assets: $181,849
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Laundry Income
Revenue
$9,300
Rental Income
Revenue
$1,647,862
Organization Details
Founding Year
1974
Phone
(212) 288-7379Principal Officer
Nicola M Heryet
Main Address
49 East 73rd Street, New York, NY, 10021
NTEE Category
Code: L22Z - Housing
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