Overview
What is Jt Hairston Memorial Apartments Inc?
J.T. Hairston Memorial Apartments Inc, located in Greensboro, North Carolina, is a nonprofit organization established with the mission to construct, own, and operate a 108-unit apartment complex. Named after J.T. Hairston, this community, known as J.T. Hairston Memorial Apartments, serves as a housing solution for individuals with low income. The organization adheres to Section 221(D)(4) of the National Housing Act, as amended, and has a regulatory agreement with the Federal Housing Administration section of HUD. The primary objective of J.T. Hairston Memorial Apartments Inc is to provide affordable housing options, subject to HUD regulations governing rental charges and operating methods.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75%, Three-Star out of Four Star rating.
Jt Hairston Memorial Apartments Inc has received a respectable score of 75% from Charity Navigator, indicating a solid level of accountability and finance management. The rating is derived entirely from a single beacon score focusing on financial practices, highlighting the organization's commitment to transparency and responsible management of resources. The most recent fiscal year reported is FY2023.
The organization demonstrates strengths in governance, with 100% of its board members being independent, and a well-sized board contributing to effective oversight. Their program expense ratio is impressive at 91.84%, suggesting that a substantial portion of their funding is directed towards their programs rather than administrative costs. Additionally, they have robust financial practices, such as having no material diversion of assets and a comprehensive conflict of interest policy.
However, a key limitation noted in the data is their liabilities to assets ratio, which stands at 116.69%. This indicates potential financial concerns, as liabilities exceed assets, which may pose risks to their sustainability. Overall, while Jt Hairston Memorial Apartments Inc shows commendable governance and program funding, attention to financial stability will be crucial for their continued effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Jt Hairston Memorial Apartments Inc legitimate?
Jt Hairston Memorial Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Jt Hairston Memorial Apartments 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:
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What is the mission statement of Jt Hairston Memorial Apartments Inc?
Jt Hairston Memorial Apartments Inc, as an organization, is committed to providing housing for individuals with low and moderate income, adhering to the regulations set by the U.S. Department of Housing and Urban Development (HUD) regarding rental charges and operating methods. The corporation, in accordance with Section 221(D)(4) of the National Housing Act, constructed, owns, and operates a 108-unit apartment community, offering housing solutions for this specific income demographic. The corporation also has a regulatory agreement with the Federal Housing Administration section of HUD, ensuring the community's operation complies with the necessary standards.
Who is the CEO of Jt Hairston Memorial Apartments Inc?
Mary G Mims is the Secretary/Treasurer of Jt Hairston Memorial Apartments Inc.
What is the revenue of Jt Hairston Memorial Apartments Inc?
Jt Hairston Memorial Apartments Inc's revenue in 2022 was $1,045,650.
Who are the executives of Jt Hairston Memorial Apartments Inc and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for Jt Hairston Memorial Apartments Inc?
Jt Hairston Memorial Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Jt Hairston Memorial Apartments Inc
Jt Hairston Memorial Apartments Inc, as a nonprofit organization, is dedicated to providing housing for individuals with low and moderate income. In line with regulations set by the Department of Housing and Urban Development (HUD), the organization operates under the guidelines of Section 221(D)(4) of the National Housing Act. This means that the apartments they manage are designed to cater to individuals who fall within these income brackets. The corporation has entered into standard regulatory agreements with the Federal Housing Administration (FHA) section of HUD, ensuring the operation of the community adheres to established standards. In essence, Jt Hairston Memorial Apartments Inc is committed to offering affordable housing solutions to those in need, in compliance with HUD regulations governing rental charges and operational methods.
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Impact
July, 2024
The impact of Jt Hairston Memorial Apartments Inc is significant in providing housing for low-income individuals in Greensboro, North Carolina. By owning and operating a 108-unit apartment community known as J.T. Hairston Memorial Apartments, the organization offers affordable housing to those in need. Through their mission to provide housing to individuals with low and moderate incomes, Jt Hairston Memorial Apartments Inc serves the community and helps address the housing needs of vulnerable populations.
This information is meant to be a general summary of Jt Hairston Memorial Apartments 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: $85
- Program Service Revenue: $176,518
- Gross Receipts: $1,045,650
Assets and Liabilities:
- Total Assets: $3,913,872
- Total Liabilities: $4,471,160
- Net Assets: -$557,288
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL PAYMENTS
Revenue
$160,413
TENANT CHARGES
Revenue
$14,944
LAUNDRY AND VENDING
Revenue
$1,161
Organization Details
Founding Year
1968
Phone
(336) 375-1552Principal Officer
Mary G Mims
Main Address
3859 BATTLEGROUND AVENUE SUITE 100, GREENSBORO, NC, 27410
NTEE Category
Code: L21 - Housing
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