Overview
What is Nowata Gardens Apartments Of Chickasha Inc?
Nowata Gardens Apartments of Chickasha Inc is a nonprofit organization based in Grapevine, Texas. Their primary mission is to offer affordable housing opportunities to low-income families and individuals aged 62 or older. This initiative is in compliance with the guidelines set by the Department of Housing and Urban Development (HUD). The housing project falls under section 202 of HUD and is subject to continuous monitoring and regulation by this governmental body. The organization's goal is to provide suitable living spaces to individuals who fall below the area's median income threshold.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star Rating
Nowata Gardens Apartments Of Chickasha Inc has received a Three-Star rating from Charity Navigator, reflecting a moderate level of accountability and financial health. The overall score is solely based on accountability and finance, where the charity scored well in several key areas, particularly in board independence and financial oversight. The organization has a fully independent board and exhibits strong policies regarding conflict of interest, whistleblower protection, and document retention.
Strengths of the nonprofit include a high program expense ratio of 98.10%, indicating that a significant portion of its resources is dedicated to program services rather than administrative costs. The charity has also demonstrated diligence in its financial management, as evidenced by its absence of material diversion of assets and a well-structured audit committee, which scored full points in its evaluation.
However, a notable limitation is the high liabilities to assets ratio at 265.72%, which may suggest potential financial risk or leverage issues. While the organization shows various strengths in governance and accountability, stakeholders may want to consider this aspect when evaluating the overall financial stability of Nowata Gardens Apartments Of Chickasha Inc.
This AI summary has been generated from information found on Charity Navigator.
Is Nowata Gardens Apartments Of Chickasha Inc legitimate?
Nowata Gardens Apartments Of Chickasha Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nowata Gardens Apartments Of Chickasha 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: $180,533
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What is the mission statement of Nowata Gardens Apartments Of Chickasha Inc?
Nowata Gardens Apartments Of Chickasha Inc is dedicated to providing affordable housing for families and individuals who are at least 62 years old and have an income lower than the area median income, as defined by the Department of Housing and Urban Development (HUD). This project is closely monitored and regulated by HUD, operating under Section 202 of their guidelines. The organization's main goal is to contribute to housing accessibility for those who might otherwise struggle to afford it. By offering affordable housing options, Nowata Gardens Apartments Of Chickasha Inc aims to support the well-being and living standards of its residents.
Who is the CEO of Nowata Gardens Apartments Of Chickasha Inc?
Tamey Gray is the President of Nowata Gardens Apartments Of Chickasha Inc.
What is the revenue of Nowata Gardens Apartments Of Chickasha Inc?
Nowata Gardens Apartments Of Chickasha Inc's revenue in 2023 was $955,563.
Who are the executives of Nowata Gardens Apartments Of Chickasha Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Nowata Gardens Apartments Of Chickasha Inc?
Nowata Gardens Apartments Of Chickasha Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Nowata Gardens Apartments Of Chickasha Inc
Nowata Gardens Apartments of Chickasha Inc, as a nonprofit organization, is committed to providing affordable housing solutions for low-income families and individuals who are at least 62 years old. This mission is in line with the guidelines set by the Department of Housing and Urban Development (HUD). The project, which is monitored and regulated by HUD under section 202, aims to make housing accessible to individuals whose income falls below the area median income threshold established by HUD. By offering affordable housing options, Nowata Gardens Apartments of Chickasha Inc contributes to ensuring that elderly individuals in need have a decent place to live, promoting their overall well-being and independence. This mission aligns with the organization's goal of contributing positively to the community by providing essential services that cater to the needs of its most vulnerable members.
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Impact
July, 2024
Nowata Gardens Apartments of Chickasha Inc's impact is significant in providing affordable housing to low-income families and individuals aged at least 62 years old who earn less than the area median income as established by the Department of Housing and Urban Development (HUD). This project is crucial in addressing housing needs for vulnerable populations and ensuring they have a safe and stable place to live. By offering affordable housing options, Nowata Gardens Apartments contributes to the overall well-being and quality of life for those in need within the community.
This information is meant to be a general summary of Nowata Gardens Apartments Of Chickasha 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 2023.
- Investment Income: $128
- Program Service Revenue: $915,832
- Gross Receipts: $955,563
Assets and Liabilities:
- Total Assets: $1,000,699
- Total Liabilities: $2,659,153
- Net Assets: -$1,658,454
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Section 8 Housing Assistance
Revenue
$633,266
Tenant Rental Payments
Revenue
$282,566
Organization Details
Founding Year
1985
Phone
(817) 488-2077Principal Officer
Tamey Gray
Main Address
920 S Main Street APT 200, Grapevine, TX, 76051
NTEE Category
Code: L22 - Housing
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