Overview
What is The Navigator Corporation?
The Navigator Corporation, with its headquarters situated in Matthews, North Carolina, is a nonprofit organization primarily focused on providing safe and affordable housing for the elderly. They achieve this goal by operating a 225-unit apartment community known as Christopher Towers, situated in Columbia, South Carolina. This project complies with Section 221(D)(3) of the National Housing Act, thereby ensuring the project's long-term affordability and safety. The U.S. Department of Housing and Urban Development (HUD) provides mortgage insurance for this initiative, ensuring its sustainability and success in meeting the housing needs of the elderly population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Stars)
The Navigator Corporation has received a Two-Star rating from Charity Navigator, indicating room for improvement despite some positive aspects. The organization demonstrates strong accountability and finance practices, highlighted by a program expense ratio of 97.69%, which shows that a significant portion of its funds are directed towards its programs. The organization also benefits from a fully independent board, scoring 100% in that area, which reflects good governance practices.
However, the charity's overall score is impacted by its liabilities to assets ratio, which stands at 124.75%. This suggests financial concerns that could pose challenges for its operational stability. While the nonprofit has solid practices in board governance and financial oversight, potential donors and stakeholders may want to consider these financial liabilities when evaluating the organization's long-term sustainability.
In summary, The Navigator Corporation displays commendable strengths in transparency and program spending but faces financial challenges that may concern investors looking for a stable nonprofit. Addressing these issues could help improve its overall rating and enhance confidence among its supporters.
This AI summary has been generated from information found on Charity Navigator.
Is The Navigator Corporation legitimate?
The Navigator Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Navigator 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:
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What is the mission statement of The Navigator Corporation?
The Navigator Corporation's mission is centered around providing safe and affordable housing for the elderly. This is carried out through the operation of a 225-unit apartment community, in compliance with Section 221(D)(3) of the National Housing Act, which is overseen by the U.S. Department of Housing and Urban Development (HUD). The corporation's aim is to ensure that elderly individuals have access to suitable housing, thereby enhancing their living conditions. The operation of this apartment community is regulated by the aforementioned section of the National Housing Act, which is issued by HUD.
Who is the CEO of The Navigator Corporation?
Mark Schimmoeller is the President of The Navigator Corporation.
What is the revenue of The Navigator Corporation?
The Navigator Corporation's revenue in 2022 was $2,413,001.
Who are the executives of The Navigator Corporation and what are their salaries?
There 13 volunteers at The Navigator Corporation.
Here are 13 key members and their salaries:
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Where can I find the form 990 for The Navigator Corporation?
The Navigator Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Navigator Corporation
The Navigator Corporation, a nonprofit organization, is dedicated to providing safe and affordable housing for the elderly. In line with Section 221(D)(3) of the National Housing Act issued by the U.S. Department of Housing and Urban Development (HUD), the corporation operates a 225-unit apartment community serving this demographic. The mission of The Navigator Corporation is to ensure that elderly individuals have access to suitable living quarters, addressing the essential need for affordable housing. The organization's operations are supported by mortgage insurance provided by HUD, further reinforcing its commitment to this cause.
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Impact
July, 2024
The Navigator Corporation's impact is centered around providing safe and affordable housing for the elderly through the development and operation of Christopher Towers, a 225-unit apartment community in Columbia, South Carolina. By offering this housing opportunity regulated by Section 221(D)(3) of the National Housing Act issued by the U.S. Department of Housing and Urban Development, The Navigator Corporation plays a significant role in ensuring that elderly individuals have access to quality housing options. This contributes to the well-being and security of this demographic by meeting their crucial housing needs.
This information is meant to be a general summary of The Navigator 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: -$22,840
- Program Service Revenue: $1,064,609
- Gross Receipts: $2,435,959
Assets and Liabilities:
- Total Assets: $11,423,752
- Total Liabilities: $13,791,479
- Net Assets: -$2,367,727
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,004,965
CABLE TV REIMBURSEMENT
Revenue
$43,228
LAUNDRY & VENDING REVE
Revenue
$15,465
TENANT CHARGES
Revenue
$951
Organization Details
Founding Year
1969
Phone
(704) 882-5415Principal Officer
Mark Schimmoeller
Main Address
300 EAST JOHN STREET SUITE 138, MATTHEWS, NC, 28105
NTEE Category
Code: L20Z - Housing
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