Overview
What is Holston Homes For Elderly?
Holston Homes For Elderly is a nonprofit organization situated in Morristown, Tennessee. Their primary mission is to provide housing for low-income elderly and handicapped individuals, adhering to regulations set by the HUD for rental charges and operating methods. They manage a complex containing 99 rental units, all part of Section 202 of the National Housing Act. The organization's purpose is to ensure that these vulnerable individuals have access to safe and affordable housing.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Star rating)
Holston Homes for Elderly has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The overall score reflects strong adherence to financial standards, with a specific focus on the organization’s commitment to transparency and effective management of resources.
The organization boasts a fully independent board with ten members, reinforcing its governance structure, and has received high scores for its financial practices, including a perfect audit score. Additionally, the program expense ratio is impressive at 88.13%, demonstrating that a significant portion of funds is directed toward its mission of supporting the elderly.
However, while the organization has strengths in accountability and financial practices, the rating suggests that there may be areas for improvement in other aspects that could enhance overall performance. It is important for potential donors to consider these factors when evaluating Holston Homes for Elderly.
This AI summary has been generated from information found on Charity Navigator.
Is Holston Homes For Elderly legitimate?
Holston Homes For Elderly is a legitimate nonprofit organization registered as a 501(c)(3) entity. Holston Homes For Elderly 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.
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What is the mission statement of Holston Homes For Elderly?
Holston Homes For Elderly is committed to providing housing for low-income elderly and handicapped individuals. This organization operates under Section 202 of the National Housing Act, ensuring affordable housing options for its tenants. The mission of Holston Homes For Elderly is to offer housing solutions, adhering to regulations set by the HUD in terms of rental charges and operating methods. Currently, the complex houses 99 tenants, providing them with a secure living environment.
Who is the CEO of Holston Homes For Elderly?
Kay Hale is the President of Holston Homes For Elderly.
What is the revenue of Holston Homes For Elderly?
Holston Homes For Elderly's revenue in 2023 was $756,042.
Who are the executives of Holston Homes For Elderly and what are their salaries?
Here are 11 key members and their salaries:
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Where can I find the form 990 for Holston Homes For Elderly?
Holston Homes For Elderly's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Holston Homes For Elderly
Holston Homes For Elderly, a nonprofit organization, is committed to providing housing for low-income elderly and handicapped tenants. This mission is in line with Section 202 of the National Housing Act, a legislative framework that guides their operations. The organization ensures that the rent charges and operating methods of their 99 rental units are regulated by the Department of Housing and Urban Development (HUD). By providing affordable housing, Holston Homes For Elderly aims to contribute to the well-being and dignity of its elderly tenants, offering them a secure living environment.
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Impact
July, 2024
Holston Homes For Elderly provides essential housing for low-income elderly and handicapped tenants under Section 202 of the National Housing Act. With 99 rental units in their complex in Morristown, TN, this organization plays a crucial role in ensuring that vulnerable individuals have access to safe and affordable housing. Holston Homes For Elderly's impact can be seen in the improved quality of life, security, and dignity that they provide to their residents, allowing them to age with respect and comfort. Through their mission of providing housing for low-income elderly and handicapped tenants, they contribute positively to the well-being of the community they serve.
This information is meant to be a general summary of Holston Homes For Elderly. 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: $307
- Program Service Revenue: $383,870
- Gross Receipts: $756,042
Assets and Liabilities:
- Total Assets: $2,400,312
- Total Liabilities: $3,276,916
- Net Assets: -$876,604
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$376,594
LAUNDRY & VENDING INCO
Revenue
$5,273
TENANT CHARGES
Revenue
$2,003
Organization Details
Founding Year
1986
Phone
(423) 586-2684Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 378161218
NTEE Category
Code: L21Z - Housing
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