Overview
What is Timber Ridge Apartments Inc?
Timber Ridge Apartments Inc is a nonprofit organization situated in Westminster, Maryland, specifically at 101 Timber Ridge Drive. Their primary mission is to offer housing facilities for the low-income elderly, catering to a total of 100 units. These facilities operate under Section 236 of the National Housing Assistance Payment Program, which is regulated by HUD in terms of rental charges and operational methods. The organization, staffed by 9 employees, operates these facilities in compliance with these regulations, providing a vital service to the elderly population in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Stars)
Timber Ridge Apartments Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial transparency. The organization's overall score of 90% is derived entirely from its Accountability & Finance metrics, indicating a solid foundation in managing resources responsibly.
The nonprofit excels in various aspects of governance and financial practices. It boasts a fully independent board, with 100% of its members meeting this criterion. Furthermore, the organization shows no material diversion of assets and maintains robust oversight through an audit and oversight committee, contributing to its high scores across multiple financial measures.
Despite its strong financial health and governance practices, the data does not provide insight into program effectiveness or impact. While Timber Ridge Apartments Inc demonstrates exemplary financial management, potential donors may benefit from further understanding the organization's specific programs and their outcomes.
This AI summary has been generated from information found on Charity Navigator.
Is Timber Ridge Apartments Inc legitimate?
Timber Ridge Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Timber Ridge 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.
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What is the mission statement of Timber Ridge Apartments Inc?
Timber Ridge Apartments Inc, as an organization, is committed to providing housing facilities for the low-income elderly. Their mission is clearly defined and centered around this objective. They own and operate an apartment complex, consisting of 100 units, specifically designed to cater to this demographic. Their operations adhere to Section 236 of the National Housing Assistance Payment Program, ensuring that rent charges and operating methods are regulated by the HUD. This regulation is in place to ensure affordable and sustainable housing options for the elderly with limited income.
Who is the CEO of Timber Ridge Apartments Inc?
Jayson Luckenbaugh is the President of Timber Ridge Apartments Inc.
What is the revenue of Timber Ridge Apartments Inc?
Timber Ridge Apartments Inc's revenue in 2022 was $923,002.
Who are the executives of Timber Ridge Apartments Inc and what are their salaries?
There are 9 employees and 24 volunteers at Timber Ridge Apartments Inc.
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Where can I find the form 990 for Timber Ridge Apartments Inc?
Timber Ridge Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Timber Ridge Apartments Inc
Timber Ridge Apartments Inc, as a nonprofit organization, is dedicated to providing housing facilities for the low-income elderly. Their mission is crystal clear: to offer a living space designed specifically for the elderly who fall under the low-income bracket. This mission is carried out through the operation of an apartment complex, which houses 100 units. This complex adheres to Section 236 of the National Housing Assistance Payment Program, ensuring that the rent charges and operating methods are regulated by the HUD. This regulatory oversight ensures that the elderly residents can afford the housing facilities provided by Timber Ridge Apartments Inc, making a significant contribution to their well-being and quality of life.
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Impact
July, 2024
Timber Ridge Apartments Inc's impact lies in providing essential housing facilities for low-income elderly individuals in Westminster, MD. Through its ownership and operation of a 100-unit apartment complex under the National Housing Assistance Payment Program, this organization ensures that vulnerable seniors have a safe and affordable place to call home. By adhering to HUD regulations regarding rent charges and operational standards, Timber Ridge Apartments Inc plays a critical role in addressing the housing needs of the elderly population in the community. Their mission to offer housing facilities for low-income elderly residents demonstrates a commitment to promoting dignity and security for a vulnerable demographic.
This information is meant to be a general summary of Timber Ridge 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: $248
- Program Service Revenue: $342,114
- Gross Receipts: $923,002
Assets and Liabilities:
- Total Assets: $3,012,828
- Total Liabilities: $99,230
- Net Assets: $2,913,598
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APARTMENT RENTALS
Revenue
$339,171
TENANT CHARGES
Revenue
$2,943
Organization Details
Founding Year
1979
Phone
(410) 876-2550Principal Officer
Jayson Luckenbaugh
Main Address
101 TIMBER RUDGE DRIVE, WESTMINSTER, MD, 21157
NTEE Category
Code: L21Z - Housing
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