Overview
What is Laurelwood Inc Of Spartanburg?
Laurelwood Inc of Spartanburg is a nonprofit organization situated in Boiling Springs, South Carolina. Their primary mission is to provide housing solutions for individuals suffering from chronic mental illnesses. They accomplish this by managing a 20-unit apartment community, which is regulated under Section 811 of the National Affordable Housing Act of 1990. The organization's goal is to offer housing options for low-income individuals with mental health challenges, ensuring they have a safe and supportive living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Laurelwood Inc Of Spartanburg has received a solid Three-Star rating from Charity Navigator, indicating that it performs reasonably well in terms of accountability and financial health. The organization has a high percentage of independent board members, which suggests strong governance practices. Key policies related to conflict of interest, whistleblowing, and document retention are all in place, demonstrating a commitment to transparency and ethical management.
The charity boasts an impressive program expense ratio of 83.48%, reflecting that a significant portion of its budget is allocated directly to its programs rather than administrative costs. However, it faces challenges regarding its liabilities to assets ratio, which stands at 214.71%. This may indicate potential financial strain or heavy reliance on debt, highlighting an area for improvement.
Overall, while Laurelwood Inc Of Spartanburg shows notable strengths in governance and program funding, it is important for potential donors and supporters to consider the financial stability of the organization in light of its liabilities.
This AI summary has been generated from information found on Charity Navigator.
Is Laurelwood Inc Of Spartanburg legitimate?
Laurelwood Inc Of Spartanburg is a legitimate nonprofit organization registered as a 501(c)(3) entity. Laurelwood Inc Of Spartanburg 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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Professional Fundraising Fees: $0
Other Salaries and Wages: $19,859
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What is the mission statement of Laurelwood Inc Of Spartanburg?
Laurelwood Inc. of Spartanburg is committed to providing housing for individuals with chronic mental illness who have low income. They achieve this by operating a HUD-assisted apartment community, regulated under Section 811 of the National Affordable Housing Act of 1990. This community, consisting of 20 units, aims to provide a safe and supportive living environment for these individuals. The organization's mission is centered around ensuring that these individuals have access to adequate housing, thereby improving their overall quality of life.
Who is the CEO of Laurelwood Inc Of Spartanburg?
Ron Laughridge is the Chair of Laurelwood Inc Of Spartanburg.
What is the revenue of Laurelwood Inc Of Spartanburg?
Laurelwood Inc Of Spartanburg's revenue in 2023 was $113,657.
Who are the executives of Laurelwood Inc Of Spartanburg and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for Laurelwood Inc Of Spartanburg?
Laurelwood Inc Of Spartanburg's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Laurelwood Inc Of Spartanburg
Laurelwood Inc of Spartanburg is dedicated to providing housing solutions for individuals who are chronically mentally ill and fall under the low-income bracket. To achieve this, the organization operates a HUD-assisted apartment community, adhering to Section 811 of the National Affordable Housing Act of 1990. This initiative aims to provide a secure and supportive living environment for these individuals, enabling them to lead healthier and more stable lives. By operating a 20-unit apartment community, Laurelwood Inc of Spartanburg offers these individuals a chance to call a place their own, providing them with a much-needed sense of independence and dignity. The organization's mission is to make a tangible difference in the lives of these individuals, offering them a safe and nurturing environment that fosters their recovery and overall well-being.
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Impact
October, 2024
Laurelwood Inc of Spartanburg plays a vital role in providing stable housing for low-income individuals who are chronically mentally ill. By operating a HUD-assisted apartment community, it helps to address a critical need for affordable and supportive living environments specifically tailored to this vulnerable population.
The 20-unit apartment community in Boiling Springs, South Carolina, offers not only a roof over their heads but also a sense of dignity and safety, fostering an environment where residents can thrive. This initiative mitigates homelessness and instability, giving individuals the opportunity to focus on their mental health and overall well-being.
Through its commitment to supporting chronic mental health issues, Laurelwood Inc significantly contributes to the larger goal of community health, reducing the societal impacts of untreated mental illness. By facilitating access to affordable housing under the guidelines of the National Affordable Housing Act of 1990, it enhances the quality of life for residents and sets a standard for compassionate care within the community. Overall, the impact of Laurelwood Inc extends beyond housing; it promotes healing, empowerment, and social inclusion for some of the most marginalized members of society.
This information is meant to be a general summary of Laurelwood Inc Of Spartanburg. 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 2023.
- Investment Income: $38
- Program Service Revenue: $113,619
- Gross Receipts: $113,657
Assets and Liabilities:
- Total Assets: $495,374
- Total Liabilities: $1,063,632
- Net Assets: -$568,258
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$113,619
Organization Details
Founding Year
1995
Phone
(864) 582-7110Principal Officer
Ron Laughridge
Main Address
275 LAURELWOOD DRIVE, BOILING SPRINGS, SC, 29316
NTEE Category
Code: P33I - Human services
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