Overview
What is Malmaison Villas Inc?
Malmaison Villas Inc is a nonprofit organization situated in Atlanta, Georgia. Their primary mission involves owning and managing a rental housing property, catering specifically to low-income elderly individuals. Adhering to the guidelines set by the Department of Housing and Urban Development, they provide a secure living environment under Section 202 of the National Housing Act. This initiative aims to provide affordable housing options for this demographic, ensuring they can maintain their independence and dignity.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating
Malmaison Villas Inc has received a Three-Star rating from Charity Navigator, reflecting an overall score of 79%. This rating is derived solely from its Accountability & Finance score, indicating that the organization demonstrates solid practices in these areas. Notably, the charity has a fully independent board, which contributes positively to its governance and accountability practices.
The organization excels in several key areas, including a high program expense ratio of 89.4%, signifying that a significant portion of its financial resources is directed towards its mission. Additionally, it has no material diversion of assets and has established comprehensive policies regarding conflicts of interest and whistleblower protections, which are essential for transparency and ethical management.
However, the rating is impacted by a concerning liabilities to assets ratio of 163.29%, suggesting potential financial instability or over-leveraging. While the charity shows strengths in governance and program expenses, addressing its financial liabilities could enhance its overall standing and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Malmaison Villas Inc legitimate?
Malmaison Villas Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Malmaison Villas 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: $0
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What is the mission statement of Malmaison Villas Inc?
Malmaison Villas Inc. is dedicated to owning and managing a rental housing property catering to low-income elderly individuals, following the guidelines set by Section 202 of the National Housing Act. The organization's primary goal is to provide suitable living spaces for this specific demographic. They meticulously maintain an apartment complex in accordance with the Department of Housing and Urban Development's requirements, ensuring a comfortable and secure living environment for its residents.
Who is the CEO of Malmaison Villas Inc?
Gerald Eickhoff is the President of Malmaison Villas Inc.
What is the revenue of Malmaison Villas Inc?
Malmaison Villas Inc's revenue in 2022 was $493,310.
Who are the executives of Malmaison Villas Inc and what are their salaries?
There 7 volunteers at Malmaison Villas Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Malmaison Villas Inc?
Malmaison Villas Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Malmaison Villas Inc
Malmaison Villas Inc, as a nonprofit organization, is dedicated to providing housing solutions for low-income elderly individuals. In line with Section 202 of the National Housing Act, Malmaison Villas Inc owns and operates a rental housing property, offering a sanctuary for this specific demographic. Their mission is to ensure the operation and maintenance of an apartment complex that caters to the needs of these elderly residents, in compliance with the guidelines set by the Department of Housing and Urban Development. By providing a secure and supportive living environment, Malmaison Villas Inc plays a significant role in promoting the well-being and independence of the elderly population.
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Impact
July, 2024
Malmaison Villas Inc's impact lies in providing affordable housing for low-income elderly individuals in Atlanta, Georgia. By owning and operating a rental housing property under Section 202 of the National Housing Act, Malmaison Villas ensures that elderly individuals have a safe and affordable place to live. This housing initiative directly addresses the critical need for affordable and accessible housing for elderly persons in the community, thereby contributing to their well-being and quality of life.
This information is meant to be a general summary of Malmaison Villas 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: $16
- Program Service Revenue: $493,006
- Gross Receipts: $493,310
Assets and Liabilities:
- Total Assets: $380,600
- Total Liabilities: $621,493
- Net Assets: -$240,893
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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
$357,969
RENTAL AND OTHER INCOM
Revenue
$135,037
Organization Details
Founding Year
1987
Phone
(770) 496-0598Principal Officer
Gerald Eickhoff
Main Address
PO BOX 450049, ATLANTA, GA, 31145
NTEE Category
Code: L21Z - Housing
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