Overview
What is Cullman Senior Housing Inc?
Cullman Senior Housing Inc, also recognized as Nesmith Park Apartments, is a nonprofit organization situated in Cullman, Alabama. Their primary mission is to provide affordable housing for the elderly and individuals with disabilities. The organization operates a 53-unit apartment complex specifically designed to cater to this demographic. The project was developed and funded under Section 202 of the National Housing Act, and has undergone restructuring since its inception.
Official website here: www.spm.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69%, earning it a Two-Star out of Four Star rating. This rating reflects concerns regarding the nonprofit's accountability and financial practices. While the organization scores well in areas such as having a fully independent board and a clean audit of financial statements, its overall rating is impacted by several missing policies and a high liabilities to assets ratio.
Cullman Senior Housing Inc demonstrates a strong commitment to its mission, as evidenced by a program expense ratio of 97.40%. This indicates that the majority of its funds are directed towards its core programs and services. However, the absence of key governance policies, such as a conflict of interest policy and a whistleblower policy, may raise concerns about the organization's adherence to best practices in transparency and accountability.
The organization's liabilities to assets ratio of 152.54% is a notable limitation, suggesting that it has more liabilities than assets, which can pose potential financial risks. Addressing these governance and financial management issues would be crucial for improving its overall rating and ensuring long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Cullman Senior Housing Inc legitimate?
Cullman Senior Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cullman Senior 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: $106,583
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Official website here: www.spm.net
What is the mission statement of Cullman Senior Housing Inc?
Cullman Senior Housing Inc, commonly known as Nesmith Park Apartments, is committed to providing affordable housing for the elderly and disabled individuals. Through their 53-unit apartment complex, they aim to offer a living space that is accessible and financially viable for this specific demographic. The organization has its roots in the National Housing Act, with the project being financed and constructed under section 202 of this act. Post-construction, the project has undergone restructuring.
Official website here: www.spm.net
Who is the CEO of Cullman Senior Housing Inc?
Tayana Millwood is the President of Cullman Senior Housing Inc.
Official website here: www.spm.net
What is the revenue of Cullman Senior Housing Inc?
Cullman Senior Housing Inc's revenue in 2022 was $495,459.
Official website here: www.spm.net
Who are the executives of Cullman Senior Housing Inc and what are their salaries?
There 4 volunteers at Cullman Senior Housing Inc.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.spm.net
Where can I find the form 990 for Cullman Senior Housing Inc?
Cullman Senior Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.spm.net
Learn more at the official website: www.spm.net
Mission Statement of Cullman Senior Housing Inc
Cullman Senior Housing Inc, also known as Nesmith Park Apartments, is dedicated to providing affordable housing solutions for the elderly and disabled community. Through their 53-unit apartment complex located in Cullman, Alabama, they offer a safe and secure living environment. This nonprofit organization was established under Section 202 of the National Housing Act and has been restructured to continue serving its intended population effectively. The project's primary objective is to make housing affordable for seniors, thereby ensuring they can live comfortably and with dignity.
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Impact
July, 2024
Cullman Senior Housing Inc, operating as Nesmith Park Apartments, provides a vital service in offering low-cost housing to the elderly and/or disabled in Cullman, Alabama. With its 53-unit apartment complex, the organization plays a crucial role in addressing the housing needs of seniors in the community who may have limited financial resources. By offering affordable housing options, Cullman Senior Housing Inc positively impacts the lives of its residents by providing them with a safe and comfortable place to call home. This support contributes to the overall well-being and quality of life of the individuals served, ensuring they have access to a stable and secure living environment. The organization's commitment to affordable housing aligns with broader social goals of promoting inclusivity and support for vulnerable populations within the community.
This information is meant to be a general summary of Cullman Senior 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: $284
- Program Service Revenue: $143,509
- Gross Receipts: $495,459
Assets and Liabilities:
- Total Assets: $1,344,439
- Total Liabilities: $2,008,636
- Net Assets: -$664,197
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROG.SERV.REVENUE-RELA
Revenue
$143,509
Organization Details
Founding Year
1992
Phone
(205) 715-5197Principal Officer
Tayana Millwood
Main Address
1103 RICHARD ARRINGTON JR BLVD S, BIRMINGHAM, AL, 35205
Website
www.spm.netNTEE Category
Code: L22Z - Housing
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