Overview
What is Penn-North Plaza Inc?
Penn-North Plaza Inc is a nonprofit organization situated in Baltimore, Maryland, specifically at 1520 W North Avenue. Their primary mission is to offer safe and affordable housing to individuals who fall under the categories of low-income elderly and persons with disabilities. This is achieved through the operation and management of subsidized apartment rentals, such as the Penn North Apartments, which comprises 66 units. The organization's goal is to make housing accessible to these vulnerable groups, thereby contributing to their overall well-being.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71% (Two-Star out of Four Star rating)
Penn-North Plaza Inc has received a Two-Star rating from Charity Navigator, indicating that while it demonstrates some strengths, there are notable areas for improvement. The organizational strengths include a fully independent board, robust program expense ratio of 96.85%, and comprehensive financial oversight. These elements suggest a commitment to effective governance and direct program impact.
However, the organization faces significant limitations, particularly in its accountability and transparency practices. The absence of a whistleblower policy and document retention guidelines, along with missing financial documents on its website, raises concerns about its operational transparency. Additionally, the organization's liabilities to assets ratio of 330.40% is a red flag that indicates potential financial instability.
Overall, while Penn-North Plaza Inc shows promise through its high program expense ratio and strong governance, it must address its transparency and liability issues to enhance its overall accountability and improve its rating in future evaluations.
This AI summary has been generated from information found on Charity Navigator.
Is Penn-North Plaza Inc legitimate?
Penn-North Plaza Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Penn-North Plaza 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: $109,691
For more financial information, click here
What is the mission statement of Penn-North Plaza Inc?
Penn-North Plaza Inc is committed to providing safe and affordable housing for individuals who fall under the categories of low-income, elderly, and persons with disabilities. This mission is carried out through the ownership and operation of subsidized apartment rentals. One of their notable projects is Penn North Apartments, which comprises 66 rental units, designed to cater to qualified individuals fitting into these categories. The organization's goal is to contribute positively to the housing needs of these vulnerable groups, ensuring they have access to comfortable and reasonably priced accommodations.
Who is the CEO of Penn-North Plaza Inc?
Neva W Brown is the President of Penn-North Plaza Inc.
What is the revenue of Penn-North Plaza Inc?
Penn-North Plaza Inc's revenue in 2022 was $633,886.
Who are the executives of Penn-North Plaza Inc and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Penn-North Plaza Inc?
Penn-North Plaza Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Penn-North Plaza Inc
Penn-North Plaza Inc, a nonprofit organization, is dedicated to providing safe and affordable housing for individuals who fall under the categories of low-income, elderly, and those with disabilities. The organization's primary mission is to cater to the housing needs of these vulnerable groups, ensuring they have access to suitable living conditions without straining their financial resources. This mission is accomplished through the ownership and operation of subsidized apartment rentals, such as the Penn North Apartments, which comprises 66 rental units. By providing affordable housing, Penn-North Plaza Inc contributes to the overall well-being and stability of its residents, enabling them to focus on other essential aspects of their lives.
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Impact
July, 2024
Penn-North Plaza Inc's impact lies in providing safe and affordable housing to low-income, elderly, and persons with disabilities in Baltimore, Maryland. Their ownership and operation of subsidized apartment rentals at the Penn North Apartments, which comprises 66 rental units, directly addresses the critical need for accessible housing for vulnerable populations in the community. This organization plays a key role in ensuring that individuals who are often marginalized or at risk of homelessness have a stable and secure place to call home, contributing to their overall well-being and quality of life. Through their dedication to affordable housing, Penn-North Plaza Inc positively impacts the lives of those they serve, promoting dignity, security, and inclusivity within the community.
This information is meant to be a general summary of Penn-North Plaza 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: $12
- Program Service Revenue: $228,508
- Gross Receipts: $633,886
Assets and Liabilities:
- Total Assets: $1,346,169
- Total Liabilities: $4,132,700
- Net Assets: -$2,786,531
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$228,508
Organization Details
Founding Year
1992
Phone
(410) 383-8595Principal Officer
Neva W Brown
Main Address
1520 W NORTH AVENUE, BALTIMORE, MD, 21217
NTEE Category
Code: L21 - Housing
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