Overview
What is Thomaston Elderly Housing Inc?
Thomaston Elderly Housing Inc is a nonprofit organization situated in Atlanta, Georgia. Their primary focus is on providing affordable housing for low-income elderly individuals. They adhere to the guidelines set by the Department of Housing and Urban Development. The organization's mission is to own and manage a rental housing property specifically designed for elderly individuals, in accordance with Section 202 of the National Housing Act. They aim to ensure that these individuals have a safe and comfortable living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Thomaston Elderly Housing Inc has received a Three-Star rating from Charity Navigator, reflecting a score of 79%. This rating is based entirely on the accountability and finance beacons, indicating a strong emphasis on responsible management of funds and transparency in operations. The organization has demonstrated solid practices, such as maintaining a fully independent board and having comprehensive policies in place for conflict of interest and whistleblowing.
Strengths of Thomaston Elderly Housing Inc include a high program expense ratio of 88.70%, which suggests that a significant portion of its resources is directed towards its mission rather than administrative costs. Additionally, the organization has no recorded material diversion of assets, further enhancing its credibility. The robust financial oversight is also evidenced by a strong audit and oversight committee.
However, a notable limitation in their financial metrics is the liabilities to assets ratio, which stands at 211.31%, indicating that the organization has more liabilities than assets, which could be a potential concern for long-term financial sustainability. Overall, while Thomaston Elderly Housing Inc showcases many strengths in governance and financial practices, its financial structure warrants attention.
This AI summary has been generated from information found on Charity Navigator.
Is Thomaston Elderly Housing Inc legitimate?
Thomaston Elderly Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Thomaston Elderly Housing 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: $109,308
For more financial information, click here
What is the mission statement of Thomaston Elderly Housing Inc?
Thomaston Elderly Housing Inc's mission is centered around providing affordable housing for elderly individuals with low income. They accomplish this goal by owning and operating a rental housing property, under Section 202 of the National Housing Act. The organization's primary objective is to ensure the operation and maintenance of this apartment complex, adhering to the requirements set by the Department of Housing and Urban Development. This housing initiative aims to provide a suitable living environment for the elderly population, thereby contributing to their overall well-being.
Who is the CEO of Thomaston Elderly Housing Inc?
Gerald Eickhoff is the President of Thomaston Elderly Housing Inc.
What is the revenue of Thomaston Elderly Housing Inc?
Thomaston Elderly Housing Inc's revenue in 2022 was $554,963.
Who are the executives of Thomaston Elderly Housing Inc and what are their salaries?
There 6 volunteers at Thomaston Elderly Housing Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Thomaston Elderly Housing Inc?
Thomaston Elderly Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Thomaston Elderly Housing Inc
Thomaston Elderly Housing Inc, as a nonprofit organization, is committed to owning and operating a rental housing property specifically designed for low-income elderly individuals. This mission is in line with Section 202 of the National Housing Act. The organization's primary goal is to provide an appropriate living environment for the elderly, ensuring they have access to affordable housing. To accomplish this, Thomaston Elderly Housing Inc meticulously maintains an apartment complex, adhering to the guidelines set by the Department of Housing and Urban Development. The organization's operations aim to create a comfortable and secure living space for its elderly residents, ultimately contributing to their overall well-being.
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Impact
July, 2024
Thomaston Elderly Housing Inc's impact is providing affordable housing options for low-income elderly persons in Atlanta, GA. By owning and operating a rental housing property under Section 202 of the National Housing Act, they contribute to the well-being and security of elderly individuals who may otherwise struggle to find suitable housing. Their focus on meeting the requirements set by the Department of Housing and Urban Development ensures that residents have a safe and comfortable living environment. Overall, Thomaston Elderly Housing Inc plays a crucial role in addressing the housing needs of a vulnerable population, promoting stability and dignity for elderly individuals in need.
This information is meant to be a general summary of Thomaston Elderly Housing 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: $1,396
- Program Service Revenue: $550,471
- Gross Receipts: $554,963
Assets and Liabilities:
- Total Assets: $433,454
- Total Liabilities: $915,942
- Net Assets: -$482,488
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HUD RENTAL SUBSIDY
Revenue
$407,668
RENT REVENUE
Revenue
$142,803
Organization Details
Founding Year
1986
Phone
(770) 496-0598Principal Officer
Gerald Eickhoff
Main Address
PO BOX 450049, ATLANTA, GA, 31145
NTEE Category
Code: L22Z - Housing
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