Overview
What is Town Center Apartments Inc?
Town Center Apartments Inc is a nonprofit organization situated in Kensington, Maryland. Their primary focus is on providing affordable housing, specifically managing a 112-unit residential complex, catering to low-income families. The organization's mission is centered around offering suitable living spaces for this demographic, contributing positively to the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
Town Center Apartments Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The rating is based solely on a robust evaluation of the organization's financial practices, which indicates a high level of transparency and responsible management of resources.
The organization demonstrates outstanding governance with a fully independent board, showcasing a commitment to ethical oversight. Key policies, including conflict of interest and whistleblower protections, are in place and well-documented, reinforcing the integrity of their operations. Additionally, the organization maintains a healthy financial structure, with a low liabilities-to-assets ratio of 42.57% and a program expense ratio of 78.70%, ensuring that a significant portion of its budget is directed towards its mission.
While the data indicates a strong fiscal position and governance, it is essential for potential donors and stakeholders to continuously monitor the organization's performance and any evolving challenges it may face. Overall, Town Center Apartments Inc stands out as a responsible and effective nonprofit dedicated to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Town Center Apartments Inc legitimate?
Town Center Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Town Center 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: $216,942
For more financial information, click here
What is the mission statement of Town Center Apartments Inc?
Town Center Apartments Inc, as an organization, is dedicated to providing housing for low-income families. Their mission is realized through the operation of a 112-unit residential rental complex, offering affordable living spaces for these families in need. The corporation's primary goal is to contribute to the well-being of these families by providing them with a secure and comfortable living environment. The organization's operations focus on ensuring that low-income families have access to decent housing, thereby enhancing their overall quality of life.
Who is the CEO of Town Center Apartments Inc?
Chelsea Andrews is the President of Town Center Apartments Inc.
What is the revenue of Town Center Apartments Inc?
Town Center Apartments Inc's revenue in 2022 was $1,003,391.
Who are the executives of Town Center Apartments Inc and what are their salaries?
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Town Center Apartments Inc?
Town Center Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Town Center Apartments Inc
Town Center Apartments Inc, as a corporation, is dedicated to providing housing for families with low income. The organization's mission is carried out through the operation of a 112-unit residential complex, catering to low-income residents. This complex serves as a vital living space for these families, offering them a secure and affordable place to call home. By providing housing for low-income families, Town Center Apartments Inc contributes to the well-being and stability of these individuals, allowing them to focus on other essential aspects of their lives.
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Impact
July, 2024
Town Center Apartments Inc's impact lies in providing essential housing assistance to low-income families in Kensington, Maryland. By operating a complex of 112 residential rental units specifically designed for low-income residents, the organization directly addresses the pressing challenge of affordable housing in the community. Through their mission, Town Center Apartments Inc plays a vital role in ensuring that low-income families have access to safe and stable housing, ultimately contributing to the overall well-being and quality of life for these individuals and the community as a whole.
This information is meant to be a general summary of Town Center 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: $8
- Program Service Revenue: $245,626
- Gross Receipts: $1,003,391
Assets and Liabilities:
- Total Assets: $1,693,394
- Total Liabilities: $486,764
- Net Assets: $1,206,630
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT AND RELATED SERVICES
Revenue
$245,626
Organization Details
Founding Year
1976
Phone
(240) 773-9000Principal Officer
Chelsea Andrews
Main Address
10400 DETRICK AVENUE, KENSINGTON, MD, 20895
NTEE Category
Code: L200 - Housing
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