Overview
What is Garnett Senior Housing Foundation Inc?
Garnett Senior Housing Foundation Inc, based in Atlanta, Georgia, is a nonprofit organization dedicated to providing housing for low-income elderly individuals. In line with the guidelines set by the Department of Housing and Urban Development, they manage an apartment complex, offering a comfortable living space for this specific demographic. The organization's mission, as per the National Housing Act, is to own and operate a rental property under Section 202, aiming to enhance the quality of life for the elderly community in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
The Garnett Senior Housing Foundation Inc has received a Three-Star rating from Charity Navigator, signifying a solid level of accountability and financial management. The overall score is derived from a comprehensive evaluation emphasizing accountability and finance, where the organization achieved a score of 79%. This rating reflects well on the foundation’s operational integrity and adherence to best practices in financial oversight.
One of the foundation's notable strengths is its independent governance, with an entirely independent board of directors. The organization excels in maintaining transparency and accountability, as evidenced by its strong performance in areas such as having a whistleblower policy, conflict of interest policy, and documented board meeting minutes. Additionally, it has a high program expense ratio of 88.81%, indicating that a significant portion of its resources is directed towards its charitable programs.
However, the Garnett Senior Housing Foundation did receive a lower score in its liabilities to assets ratio, which stands at 81.41%. This suggests potential concerns regarding financial stability and could be a point of consideration for donors assessing the foundation's long-term viability. Overall, while there are areas for improvement, the foundation exhibits strong accountability practices that may assure potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Garnett Senior Housing Foundation Inc legitimate?
Garnett Senior Housing Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Garnett Senior Housing Foundation 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $94,002
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What is the mission statement of Garnett Senior Housing Foundation Inc?
Garnett Senior Housing Foundation Inc's primary mission is to manage a rental housing property for low-income elderly individuals, in adherence to Section 202 of the National Housing Act. The organization's main objective is to provide suitable living accommodations for this specific demographic. The foundation is responsible for operating and maintaining an apartment complex, ensuring it meets the standards set by the Department of Housing and Urban Development. By doing so, they aim to contribute to the well-being and housing needs of elderly individuals with limited income.
What is the revenue of Garnett Senior Housing Foundation Inc?
Garnett Senior Housing Foundation Inc's revenue in 2023 was $521,116.
Who are the executives of Garnett Senior Housing Foundation Inc and what are their salaries?
There 7 volunteers at Garnett Senior Housing Foundation Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Garnett Senior Housing Foundation Inc?
Garnett Senior Housing Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Garnett Senior Housing Foundation Inc
Garnett Senior Housing Foundation Inc is committed to a significant mission. This organization aims to own and operate a rental housing property, specifically catering to low-income elderly individuals. This undertaking is in alignment with Section 202 of the National Housing Act. The foundation's objective is to provide a suitable living space for this demographic, ensuring their needs are met with the necessary care and consideration. The day-to-day operations and maintenance of the apartment complex are carried out in accordance with the regulations set by the Department of Housing and Urban Development. This dedication to providing housing for the elderly, who may be facing financial challenges, is a testament to Garnett Senior Housing Foundation Inc's mission to contribute positively to this vulnerable population.
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Impact
July, 2024
Garnett Senior Housing Foundation Inc's impact is centered around providing affordable housing solutions for low-income elderly individuals. Through the operation and maintenance of an apartment complex in Atlanta, GA, the organization ensures that elderly residents have a safe and secure living environment that meets the requirements set forth by the Department of Housing and Urban Development. By offering rental housing under Section 202 of the National Housing Act, Garnett Senior Housing Foundation Inc plays a crucial role in supporting the well-being and quality of life of this vulnerable population.
This information is meant to be a general summary of Garnett Senior Housing Foundation 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 2023.
- Investment Income: $6,919
- Program Service Revenue: $511,983
- Gross Receipts: $521,116
Assets and Liabilities:
- Total Assets: $653,696
- Total Liabilities: $532,200
- Net Assets: $121,496
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HUD Subsidy Rental Inc
Revenue
$348,648
Rental and Other Incom
Revenue
$163,335
Organization Details
Founding Year
1980
Principal Officer
Gerald Eickhoff
NTEE Category
Code: L22Z - Housing
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