Overview
What is East Tennessee Homes For Elderly?
East Tennessee Homes for Elderly is a nonprofit organization situated in Morristown, Tennessee. Their primary focus is to provide housing for low-income elderly or handicapped individuals, adhering to regulations set by the U.S. Department of Housing and Urban Development (HUD) in terms of rent charges and operational methods. They manage a complex with 40 rental units dedicated to this purpose, under Section 202 of the National Housing Act. The organization's mission is to ensure convenient living arrangements for this vulnerable demographic, enhancing their quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating.
East Tennessee Homes For Elderly has received a solid Three-Star rating which indicates a satisfactory level of performance in terms of accountability and finance. The overall score is derived entirely from the Accountability & Finance beacon, where the organization scored 77%. This rating reflects the charity's commitment to transparency, with a fully independent board and comprehensive financial audits, earning full points in several categories.
Strengths of the organization include a high program expense ratio of 88.87%, demonstrating that a significant portion of its funds are directed towards its mission. Additionally, the organization has implemented essential governance practices, such as maintaining a conflict of interest policy and documenting board meeting minutes. However, the absence of a whistleblower policy is noted as a limitation, which may impact the perception of accountability within the organization.
Furthermore, while most financial indicators are strong, the liabilities to assets ratio is concerning at 160.53%. This figure suggests a potential financial risk, indicating that the organization may have more liabilities than it can cover with its assets. Overall, while East Tennessee Homes For Elderly demonstrates a commitment to financial accountability and transparency, the financial health indicators warrant attention.
This AI summary has been generated from information found on Charity Navigator.
Is East Tennessee Homes For Elderly legitimate?
East Tennessee Homes For Elderly is a legitimate nonprofit organization registered as a 501(c)(3) entity. East Tennessee 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 East Tennessee Homes For Elderly?
The mission of East Tennessee Homes For Elderly, as an organization, is centered around providing housing for individuals who are elderly or handicapped and fall within the low-income bracket. This mission is carried out under Section 202 of the National Housing Act. The organization's operations and rental charges are regulated by the HUD to ensure affordability and adherence to proper methods. East Tennessee Homes For Elderly currently operates with 40 rental units in a complex, offering a housing solution for those in need.
Who is the CEO of East Tennessee Homes For Elderly?
Kay Hale is the President of East Tennessee Homes For Elderly.
What is the revenue of East Tennessee Homes For Elderly?
East Tennessee Homes For Elderly's revenue in 2022 was $474,314.
Who are the executives of East Tennessee Homes For Elderly and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990 for East Tennessee Homes For Elderly?
East Tennessee Homes For Elderly's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of East Tennessee Homes For Elderly
East Tennessee Homes for Elderly is a nonprofit organization dedicated to providing housing solutions for low-income elderly or handicapped individuals. In line with its mission, it operates under Section 202 of the National Housing Act, offering a total of 40 rental units. The organization is regulated by the HUD, ensuring that the rental charges and operating methods adhere to specific standards. By providing affordable housing, East Tennessee Homes for Elderly aims to contribute to the well-being and independence of its tenants, offering them a secure living environment.
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Impact
July, 2024
East Tennessee Homes For Elderly has a significant impact on the community by providing essential housing services to low-income elderly or handicapped individuals in Morristown, Tennessee. This organization offers a crucial lifeline to those in need, ensuring that vulnerable members of society have a safe and affordable place to live. With 40 rental units in their complex, East Tennessee Homes For Elderly plays a vital role in addressing the housing needs of this specific demographic. Through their commitment to offering housing under Section 202 of the National Housing Act, they contribute to enhancing the quality of life for those they serve.
This information is meant to be a general summary of East Tennessee 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 2022.
- Investment Income: $75
- Program Service Revenue: $226,062
- Gross Receipts: $474,314
Assets and Liabilities:
- Total Assets: $1,878,512
- Total Liabilities: $2,924,212
- Net Assets: -$1,045,700
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$220,993
TENANT CHARGES
Revenue
$2,307
LAUNDRY & VENDING INCO
Revenue
$2,150
SERVICE COORDINATOR GR
Revenue
$612
Organization Details
Founding Year
1987
Phone
(423) 586-1494Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 378161218
NTEE Category
Code: L220 - Housing
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