Overview
What is Soat Inc?
Soat Inc, based in Atlanta, Georgia, is a nonprofit organization dedicated to offering affordable housing solutions. Specifically, they manage and maintain a 40-unit apartment complex, named Huntwood Terrace, which caters to the elderly and self-sufficient handicapped individuals. This initiative aligns with the guidelines set by the Department of Housing and Urban Development, ensuring that these vulnerable groups have access to suitable living accommodations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Soat Inc has received a 79% rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. The organization boasts 100% independent board members and a well-structured board size, which reflects strong governance practices. Additionally, it has robust financial oversight mechanisms, highlighted by its perfect score in audit and oversight committee evaluations.
The charity demonstrates an impressive program expense ratio of 89.83%, suggesting that a significant portion of its resources is directed toward its mission-driven programs. Policies regarding conflict of interest, whistleblower protections, and document retention are all in place, contributing to transparent operations. However, the organization faces challenges with its liabilities to assets ratio, which has been flagged, indicating potential financial risks that could impact sustainability.
Overall, while Soat Inc showcases strengths in governance and program expenditure, attention to its financial liabilities may be necessary to enhance its long-term viability and operational efficiency.
This AI summary has been generated from information found on Charity Navigator.
Is Soat Inc legitimate?
Soat Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Soat 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: $92,870
For more financial information, click here
What is the mission statement of Soat Inc?
Soat Inc, as an organization, is committed to providing affordable housing for the elderly and the self-sufficient handicapped. They accomplish this by operating and maintaining a 40-unit apartment complex in accordance with the guidelines set by the Department of Housing and Urban Development, specifically in Atlanta, Georgia. The aim is to offer a living space that is both affordable and suitable for these groups, ensuring they can live with dignity and independence.
Who is the CEO of Soat Inc?
Gerald Eickhoff is the President of Soat Inc.
What is the revenue of Soat Inc?
Soat Inc's revenue in 2022 was $556,558.
Who are the executives of Soat Inc and what are their salaries?
There 7 volunteers at Soat Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Soat Inc?
Soat Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Soat Inc
Soat Inc, a nonprofit organization, is committed to providing affordable housing for the elderly and self-sufficient handicapped individuals. They accomplish this mission through the operation and maintenance of a 40-unit apartment complex in Atlanta, Georgia. This complex, known as Huntwood Terrace, operates in accordance with the guidelines set by the Department of Housing and Urban Development. Soat Inc's mission is to ensure that these vulnerable groups have access to safe and affordable living spaces, thereby contributing to their overall well-being and independence.
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Impact
July, 2024
Soat Inc, through its subsidiary Huntwood Terrace, operates and maintains a 40-unit apartment complex in Atlanta, GA to provide affordable housing for the elderly and self-sufficient handicapped individuals in accordance with the Department of Housing and Urban Development. This initiative has a direct impact on improving the quality of life for these vulnerable populations by ensuring they have access to safe and affordable housing options. Additionally, by focusing on providing housing for the elderly and handicapped, Soat Inc is addressing an important social need and contributing to the overall well-being of the community in Atlanta, GA.
This information is meant to be a general summary of Soat 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: $24
- Program Service Revenue: $556,085
- Gross Receipts: $556,558
Assets and Liabilities:
- Total Assets: $542,768
- Total Liabilities: $894,359
- Net Assets: -$351,591
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$556,085
Organization Details
Founding Year
1984
Phone
(678) 330-2000Principal Officer
Gerald Eickhoff
Main Address
PO BOX 450049, ATLANTA, GA, 31145
NTEE Category
Code: L210 - Housing
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