Overview
What is Luther Park Apartments Inc?
Luther Park Apartments Inc is a nonprofit organization situated in Des Moines, Iowa, specifically at 1546 Hull Avenue. Their primary focus is on providing secure and affordable housing for seniors who do not require personal or medical care. The organization offers 147 units, each with the option of one or two bedrooms. Residents at Luther Park Apartments can engage in various recreational and social activities, such as games, exercise, library use, woodworking, and friendly conversations. The mission of Luther Park Apartments is to provide moderate and low-income housing and services for the elderly.
Official website here: www.lutherparkcommunity.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 81% (Three-Star out of Four Star rating)
Luther Park Apartments Inc has received a solid Three-Star rating from Charity Navigator, reflecting a commendable level of accountability and financial health. The organization scores 81% overall, indicating a commitment to transparent operations and effective management practices. Notably, it boasts a fully independent board of directors and strong auditing and oversight measures, which contribute positively to its governance.
Strengths of the organization include a high program expense ratio of 77.67%, signifying that a substantial portion of its funding is directed toward its programs and services rather than administrative costs. This focus on programmatic spending highlights the organization's dedication to its mission and beneficiaries. Furthermore, the presence of sound policies, such as a whistleblower policy and conflict of interest policy, showcases a robust framework for ethical governance.
However, there are some limitations to consider, particularly the high liabilities to assets ratio at 88.23%, which suggests potential financial vulnerabilities. While the organization demonstrates strong operational practices, maintaining financial stability will be crucial for its long-term sustainability. Overall, Luther Park Apartments Inc appears to be a responsible organization that effectively utilizes its resources to serve its community.
This AI summary has been generated from information found on Charity Navigator.
Is Luther Park Apartments Inc legitimate?
Luther Park Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Luther Park Apartments 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: $341,024
For more financial information, click here
Official website here: www.lutherparkcommunity.org
What is the mission statement of Luther Park Apartments Inc?
Luther Park Apartments Inc's mission is centered around providing affordable housing and services for the elderly. Specifically, their aim is to offer moderate and low-income housing options for senior citizens who do not require personal or medical care. Residents of Luther Park Apartments can enjoy a variety of recreational and social activities, such as games, exercise classes, library services, woodworking workshops, and opportunities for social interaction among friends. The apartment complex includes 147 units, offering a choice between one and two bedrooms, ensuring senior citizens have a secure and affordable place to call home.
Official website here: www.lutherparkcommunity.org
Who is the CEO of Luther Park Apartments Inc?
John Rieke is the Ceo of Luther Park Apartments Inc. The CEO's salary of Luther Park Apartments Inc is $0 and their total compensation is $230,772.
Official website here: www.lutherparkcommunity.org
What is the revenue of Luther Park Apartments Inc?
Luther Park Apartments Inc's revenue in 2022 was $1,939,522.
Official website here: www.lutherparkcommunity.org
Who are the executives of Luther Park Apartments Inc and what are their salaries?
There 16 volunteers at Luther Park Apartments Inc.
Here are 15 key members and their salaries (Luther Park Apartments Inc's CEO's salary is $0 and their total compensation is $230,772):
- Compensation: $0
- Related: $187,619
- Other: $43,153
- Compensation: $0
- Related: $143,774
- Other: $18,619
- Compensation: $0
- Related: $109,755
- Other: $24,754
- Compensation: $0
- Related: $63,787
- Other: $19,785
- 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
Official website here: www.lutherparkcommunity.org
Where can I find the form 990 for Luther Park Apartments Inc?
Luther Park Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lutherparkcommunity.org
Learn more at the official website: www.lutherparkcommunity.org
Mission Statement of Luther Park Apartments Inc
Luther Park Apartments Inc is dedicated to providing affordable housing and essential services for the elderly. Their mission is to offer moderate and low-income housing options for seniors who do not require personal or medical care. This nonprofit organization, Luther Park Apartments, offers secure and affordable independent living quarters, with a variety of unit options available, including one-bedroom and two-bedroom apartments.
Residents of Luther Park Apartments enjoy a range of recreational and social activities designed to foster a sense of community and engagement. The facilities include amenities such as games, exercise rooms, a library, and even a woodworking area. Additionally, residents have the opportunity to engage in conversations with their neighbors, creating a friendly and welcoming environment. This nonprofit organization goes beyond just providing housing, ensuring its elderly residents have access to recreational and social activities, fostering a sense of community and social interaction.
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Impact
July, 2024
Luther Park Apartments Inc provides secure and affordable independent housing for seniors who do not require personal or medical care. With 147 units offering a choice of one or two bedrooms, the organization serves as a vital resource for elderly individuals in need of moderate and low-income housing in Des Moines, Iowa. Residents can participate in various recreational and social activities, fostering a sense of community and connection among peers. By offering a safe and supportive living environment, Luther Park Apartments Inc positively impacts the lives of seniors by ensuring they have access to affordable housing and opportunities for social engagement and enrichment.
This information is meant to be a general summary of Luther Park Apartments 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: $28,243
- Program Service Revenue: $1,911,254
- Gross Receipts: $1,939,522
Assets and Liabilities:
- Total Assets: $7,208,191
- Total Liabilities: $6,360,462
- Net Assets: $847,729
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,911,254
Organization Details
Founding Year
1976
Phone
(515) 262-5639Principal Officer
John Rieke
Main Address
1546 HULL AVE, DES MOINES, IA, 503161343
Website
www.lutherparkcommunity.orgNTEE Category
Code: L22 - Housing
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