Overview
What is Fairfax Education Association Retirement Housing Corporation?
Fairfax Education Association Retirement Housing Corporation is a nonprofit organization situated in Vienna, Virginia. With a focus on affordability, they provide housing solutions for retired educators, elderly individuals, and persons with disabilities. They manage a 274-unit apartment building under the HUD PBRA RAD component, known as Tysons Towers Apartments. The organization, with a team of 13 employees, aims to ensure that these groups have access to suitable living spaces, contributing positively to their well-being.
Official website here: www.tysonstowers.net
What are the reviews and ratings of this charity?
Charity Navigator rating: 79% (Three-Star out of Four Star rating)
The Fairfax Education Association Retirement Housing Corporation has received a Three-Star rating from Charity Navigator, indicating a fair level of performance in terms of accountability and finance. The organization boasts a fully independent board, which is a positive indication of governance quality, and has strong financial oversight practices evidenced by its audit and oversight committee. Additionally, it has a high program expense ratio, suggesting that a significant portion of its funds is directed towards its mission-related activities.
However, there are notable areas for improvement. The organization is missing key policies such as a whistleblower policy and a document retention and destruction policy, which are important for transparency and accountability. Furthermore, the absence of its tax form on the nonprofit's website raises concerns regarding accessibility to financial information for stakeholders.
Overall, while the Fairfax Education Association Retirement Housing Corporation demonstrates strengths in governance and program expenditures, it must address its policy gaps and improve the transparency of its financial documents to enhance its accountability rating further.
This AI summary has been generated from information found on Charity Navigator.
Is Fairfax Education Association Retirement Housing Corporation legitimate?
Fairfax Education Association Retirement Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fairfax Education Association Retirement Housing Corporation 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: $694,468
For more financial information, click here
Official website here: www.tysonstowers.net
What is the mission statement of Fairfax Education Association Retirement Housing Corporation?
The Fairfax Education Association Retirement Housing Corporation's mission is centered around providing affordable housing. Specifically, they aim to accommodate retired educators, elderly individuals, and handicapped persons in a 274-unit apartment building. This initiative is carried out under the HUD PBRA RAD component, further emphasizing their commitment to affordable housing solutions.
Official website here: www.tysonstowers.net
Who is the CEO of Fairfax Education Association Retirement Housing Corporation?
Dennis Pfennig is the Principal Officer of Fairfax Education Association Retirement Housing Corporation.
Official website here: www.tysonstowers.net
What is the revenue of Fairfax Education Association Retirement Housing Corporation?
Fairfax Education Association Retirement Housing Corporation's revenue in 2022 was $5,307,616.
Official website here: www.tysonstowers.net
Who are the executives of Fairfax Education Association Retirement Housing Corporation and what are their salaries?
The average compensation at Fairfax Education Association Retirement Housing Corporation during 2022 was $53,421. There are 13 employees and 12 volunteers at Fairfax Education Association Retirement Housing Corporation.
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- Compensation: $101,419
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- Other: $8,948
Official website here: www.tysonstowers.net
Where can I find the form 990 for Fairfax Education Association Retirement Housing Corporation?
Fairfax Education Association Retirement Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tysonstowers.net
Learn more at the official website: www.tysonstowers.net
Mission Statement of Fairfax Education Association Retirement Housing Corporation
Fairfax Education Association Retirement Housing Corporation is dedicated to providing affordable housing solutions. This nonprofit organization specializes in offering housing options for retired educators, elderly individuals, and handicapped persons. They achieve this by managing a 274-unit apartment building, operating under the HUD PBRA RAD component. The corporation's mission is to ensure that these specific groups of people have access to comfortable and affordable living spaces, thereby enhancing their quality of life.
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Impact
July, 2024
Fairfax Education Association Retirement Housing Corporation's impact lies in providing affordable housing for retired educators, elderly persons, and handicapped individuals in a 274-unit apartment building located in Vienna, VA. This organization plays a crucial role in ensuring that these vulnerable groups have access to safe and affordable housing options, thereby contributing to their overall well-being and quality of life. By fulfilling its mission to provide affordable housing, Fairfax Education Association Retirement Housing Corporation makes a significant difference in the lives of those it serves, offering a sense of security and stability to its residents.
This information is meant to be a general summary of Fairfax Education Association Retirement Housing Corporation. 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: $94,974
- Program Service Revenue: $5,212,642
- Gross Receipts: $5,307,616
Assets and Liabilities:
- Total Assets: $28,330,253
- Total Liabilities: $17,640,110
- Net Assets: $10,690,143
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$5,196,632
LAUNDRY, VENDING & CAB
Revenue
$13,931
TENANT CHARGES
Revenue
$2,079
Organization Details
Founding Year
1973
Phone
(703) 281-2080Principal Officer
Dennis Pfennig
Main Address
8500 TYSPRING STREET, VIENNA, VA, 22182
Website
www.tysonstowers.netNTEE Category
Code: L22 - Housing
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