Overview
What is Hickory Lane One Inc?
Hickory Lane One Inc, established in 2000, is a Maryland-based nonprofit corporation. Its primary mission is to offer affordable housing for the elderly, in compliance with Section 202 of the National Housing Act. This act provides assistance for projects that the United States Department of Housing and Urban Development (HUD) regulates in terms of rent charges and operational methods. The organization manages a 20-unit apartment community, focusing on providing a secure and comfortable living environment for the elderly population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58% (One-Star out of Four Stars)
Hickory Lane One Inc has received a One-Star rating from Charity Navigator, indicating concerns regarding its overall accountability and financial health. The rating is based entirely on a single beacon score for Accountability & Finance, where the organization scored 58%. While it has strengths in areas such as an independent board structure and program expense ratio, it faces significant challenges reflected in its liabilities to assets ratio.
The organization boasts a perfect score for having a majority of independent board members and maintaining a robust program expense ratio of 88.76%. These factors suggest that Hickory Lane One Inc is committed to directing funds towards its programs rather than administrative costs. However, the liabilities to assets ratio of 144.44% raises red flags about its financial stability and sustainability, indicating potential financial strain.
Overall, while Hickory Lane One Inc demonstrates certain strengths in governance and program expenditure, its concerning financial metrics underline the need for potential donors to carefully consider the risks associated with contributing to this nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Hickory Lane One Inc legitimate?
Hickory Lane One Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hickory Lane One 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: $0
For more financial information, click here
What is the mission statement of Hickory Lane One Inc?
Hickory Lane One Inc, established in 2000, is committed to providing affordable housing for the elderly. This mission aligns with Section 202 of the National Housing Act. The organization acquires, develops, and operates housing facilities, specifically a 20-unit apartment community designed for the elderly. These projects are supported by provisions from Section 202 of the National Housing Act of 1959, and are regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rent charges and operational methods. The primary objective of Hickory Lane One Inc is to ensure that elderly individuals have access to affordable housing, thereby contributing to their well-being.
Who is the CEO of Hickory Lane One Inc?
Joyce Schuldt is the Ceo of Hickory Lane One Inc. The CEO's salary of Hickory Lane One Inc is $0 and their total compensation is $203,617.
What is the revenue of Hickory Lane One Inc?
Hickory Lane One Inc's revenue in 2022 was $149,232.
Who are the executives of Hickory Lane One Inc and what are their salaries?
There 9 volunteers at Hickory Lane One Inc.
Here are 12 key members and their salaries (Hickory Lane One Inc's CEO's salary is $0 and their total compensation is $203,617):
- Compensation: $0
- Related: $182,009
- Other: $21,608
- Compensation: $0
- Related: $154,786
- Other: $0
- Compensation: $0
- Related: $116,554
- Other: $13,151
- 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
Where can I find the form 990 for Hickory Lane One Inc?
Hickory Lane One Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hickory Lane One Inc
Hickory Lane One Inc, established in 2000, is a mission-driven organization dedicated to providing affordable housing for the elderly. This mission is rooted in Section 202 of the National Housing Act, a legislative provision aimed at facilitating such initiatives. The entity's purpose is to acquire, develop, and operate housing and related facilities, specifically a 20-unit apartment community designed for the elderly. Hickory Lane One Inc operates under the regulations of the U.S. Department of Housing and Urban Development (HUD), ensuring that rent charges and operating methods adhere to the Act's guidelines.
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Impact
October, 2024
Hickory Lane One Inc has made a significant impact by addressing the critical need for affordable housing for the elderly. Located in Salisbury, MD, this organization has dedicated itself to acquiring, developing, and operating a 20-unit apartment community specifically designed for senior citizens. By leveraging the provisions of Section 202 of the National Housing Act, Hickory Lane One Inc ensures that the elderly population has access to safe, affordable housing options.
Through its operations, Hickory Lane One Inc not only provides residences but also fosters a supportive community environment for its residents. The regulatory oversight from the U.S. Department of Housing and Urban Development (HUD) ensures that rent charges are managed equitably, allowing residents to maintain a sustainable living situation. The presence of such facilities plays a crucial role in enhancing the quality of life for elderly individuals, allowing them to live independently while being part of a connected community. Overall, Hickory Lane One Inc significantly contributes to the well-being of seniors in the Salisbury area.
This information is meant to be a general summary of Hickory Lane One 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: $114
- Program Service Revenue: $55,811
- Gross Receipts: $149,232
Assets and Liabilities:
- Total Assets: $1,785,145
- Total Liabilities: $2,583,288
- Net Assets: -$798,143
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$55,811
Organization Details
Founding Year
2000
Phone
(410) 546-0381Principal Officer
Joyce Schuldt
Main Address
716 NORTH DIVISION ST, SALISBURY, MD, 21801
NTEE Category
Code: L21 - Housing
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