Overview
What is Ellett Road Apartments Corporation?
Ellett Road Apartments Corporation is a nonprofit organization situated in Blacksburg, Virginia, dedicated to offering affordable housing solutions for low-income individuals and families. With funding from HUD Section 811, they manage and own 12 residential units, catering to this specific demographic. Their primary mission is to ensure that everyone, regardless of their financial situation, has access to a secure and comfortable living space.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Ellett Road Apartments Corporation has received an impressive rating of 94% from Charity Navigator, reflecting a strong commitment to accountability and financial management. The organization boasts a perfect score in several key areas, including a 100% program expense ratio, indicating that all of its expenses are directed towards its programs, maximizing the impact on its mission.
The organization demonstrates solid governance practices, with 66% of its board members being independent, ensuring that decisions are made in the best interest of the community it serves. Additionally, it has established robust policies, such as those for conflict of interest and whistleblower protection, to maintain transparency and ethical conduct.
Despite the strong performance reflected in the rating, no specific limitations or concerns were mentioned in the data. Overall, Ellett Road Apartments Corporation appears to be a well-managed organization focused on effective service delivery.
This AI summary has been generated from information found on Charity Navigator.
Is Ellett Road Apartments Corporation legitimate?
Ellett Road Apartments Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ellett Road Apartments 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: $9,026
For more financial information, click here
What is the mission statement of Ellett Road Apartments Corporation?
Ellett Road Apartments Corporation is dedicated to providing affordable housing for low-income individuals and families. They achieve this mission by operating and owning 12 housing units, with financial support from the HUD Section 811 program. The corporation's goal is to make housing accessible for those who may struggle financially, contributing to a more equitable living situation for these individuals. Their operations are committed to making a positive impact on the community by offering affordable housing options.
Who is the CEO of Ellett Road Apartments Corporation?
Jeffrey Reed is the Chief Executive Officer of Ellett Road Apartments Corporation. The CEO's salary of Ellett Road Apartments Corporation is $0 and their total compensation is $616,715.
What is the revenue of Ellett Road Apartments Corporation?
Ellett Road Apartments Corporation's revenue in 2022 was $93,685.
Who are the executives of Ellett Road Apartments Corporation and what are their salaries?
Here are 12 key members and their salaries (Ellett Road Apartments Corporation's CEO's salary is $0 and their total compensation is $616,715):
- Compensation: $0
- Related: $555,107
- Other: $61,608
- Compensation: $0
- Related: $333,022
- Other: $35,717
- Compensation: $0
- Related: $405,876
- Other: $56,798
- Compensation: $0
- Related: $237,553
- Other: $54,080
- 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 Ellett Road Apartments Corporation?
Ellett Road Apartments Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ellett Road Apartments Corporation
Ellett Road Apartments Corporation, a nonprofit organization, is dedicated to providing affordable housing for low-income individuals and families. With funding from the HUD Section 811, this corporation operates and owns 12 units of housing in Blacksburg, Virginia. Their mission is to serve as a beacon of hope for those who may be financially challenged, offering them a secure and comfortable living environment. By providing affordable housing, Ellett Road Apartments Corporation aims to contribute to the well-being of its residents, enabling them to focus on other aspects of their lives without the burden of exorbitant housing expenses.
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Impact
October, 2024
Ellett Road Apartments Corporation significantly impacts the community by providing essential low-income housing in Blacksburg, Virginia. By operating and owning 12 housing units, it addresses the critical need for affordable living options for low-income individuals and families. The organization is funded through HUD Section 811, enabling it to offer affordable housing solutions that foster stability and improve the quality of life for residents. This initiative not only helps alleviate homelessness and housing insecurity but also contributes to the overall economic and social health of the community, offering a supportive environment where families can thrive.
This information is meant to be a general summary of Ellett Road Apartments 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: $178
- Program Service Revenue: $93,507
- Gross Receipts: $93,685
Assets and Liabilities:
- Total Assets: $513,532
- Total Liabilities: $7,940
- Net Assets: $505,592
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$93,507
Organization Details
Founding Year
1992
Phone
(540) 382-2002Principal Officer
Jeffrey Reed
Main Address
448 DEPOT STREET, CHRISTIANSBURG, VA, 24073
NTEE Category
Code: L20I - Housing
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