Overview
What is Chinese American Golden Age Association?
The Chinese American Golden Age Association is a California-based nonprofit organization, established in accordance with the state's not-for-profit statutes. Its primary mission is to operate the Golden Age Village, a 120-unit property in Monterey Park, California, that caters to low-income elderly individuals, as per Section 202 of the National Housing Act. The organization is governed by a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD) and provides subsidies for safe and adequate housing through a Project Rental Assistance Contract (PRAC) with HUD, ensuring eligible tenants have access to a suitable living facility.
Is Chinese American Golden Age Association legitimate?
Chinese American Golden Age Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chinese American Golden Age Association 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:
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What is the mission statement of Chinese American Golden Age Association?
The Chinese American Golden Age Association is a not-for-profit organization, established under the statutes of California, with a mission to provide safe and adequate housing for low-income elderly individuals. It operates a 120-unit property known as Golden Age Village, located in an unspecified area, in compliance with Section 202 of the National Housing Act. The association is governed by a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD), and through a Project Rental Assistance Contract (PRAC) with HUD, it provides subsidies to eligible tenants, ensuring they can reside in this housing facility. The association's primary focus is on supporting the elderly population, providing them with a secure living space.
What is the revenue of Chinese American Golden Age Association?
Chinese American Golden Age Association's revenue in 2023 was $2,789,180.
Who are the executives of Chinese American Golden Age Association and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Chinese American Golden Age Association?
Chinese American Golden Age Association's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Chinese American Golden Age Association
The Chinese American Golden Age Association, a not-for-profit corporation, was established with a mission to provide safe and adequate housing for low-income elderly individuals. Formed under the not-for-profit statutes of California, the organization's primary objective is to operate a 120-unit property known as Golden Age Village. Located in Monterey Park, California, this property falls under Section 202 of the National Housing Act, aiming to cater to the housing needs of the elderly population. The Chinese American Golden Age Association is governed by a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD). Through a Project Rental Assistance Contract (PRAC) with HUD, the organization offers subsidies to eligible tenants, ensuring they can reside in a secure and suitable housing facility.
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Impact
October, 2024
The Chinese American Golden Age Association plays a significant role in addressing housing needs for low-income elderly individuals in Monterey Park, California. By operating the Golden Age Village, a 120-unit affordable housing facility, it provides essential support to senior residents who may otherwise struggle to find safe and adequate housing.
The association's collaboration with the U.S. Department of Housing and Urban Development (HUD) ensures that the project adheres to regulations and guidelines designed to protect vulnerable populations. Through the Project Rental Assistance Contract (PRAC), the organization facilitates rental subsidies that make living in Golden Age Village financially feasible for eligible tenants. This not only enhances the quality of life for residents but also fosters a sense of community and belonging among older adults.
Additionally, the association's focus on the elderly addresses broader issues of isolation and disenfranchisement often faced by seniors, particularly within the Chinese American community. By providing stable housing, the Chinese American Golden Age Association contributes to the overall well-being, dignity, and independence of its residents, thereby making a lasting impact on their lives.
This information is meant to be a general summary of Chinese American Golden Age Association. 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: $171,387
- Program Service Revenue: $522,281
- Gross Receipts: $2,627,457
Assets and Liabilities:
- Total Assets: $6,140,625
- Total Liabilities: $54,511
- Net Assets: $6,086,114
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$522,281
Organization Details
Founding Year
1975
Principal Officer
Richard Han
NTEE Category
Code: L200 - Housing
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