Overview
What is Phoenix Homes For Elderly Inc?
Phoenix Homes For Elderly Inc, with the Doing Business As name of Woodland Place Apartments, is a nonprofit organization situated in Morristown, Tennessee. Their primary focus is on providing housing for low-income elderly or handicapped individuals, in compliance with Section 202 of the National Housing Act. Regulated by HUD, the organization manages 30 rental units in a complex, ensuring reasonable rent charges and adherence to prescribed operating methods. By offering suitable housing, Phoenix Homes For Elderly Inc aims to contribute positively to the well-being of this vulnerable group.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 72%)
Phoenix Homes For Elderly Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement. The organization scored 72% overall, with notable strengths in governance, including a fully independent board and a strong conflict of interest policy. Additionally, the charity demonstrated effective management of program expenses, with an impressive program expense ratio of 82.61%.
However, there are significant areas of concern that contributed to its lower rating. The absence of a whistleblower policy and a tax form on the nonprofit's website raises transparency issues. Furthermore, the high liabilities to assets ratio of 183.92% suggests potential financial instability that may impact the organization's long-term sustainability.
While Phoenix Homes For Elderly Inc shows commitment in some governance aspects, addressing these limitations will be critical to improving their rating and enhancing trust among donors and the community.
This AI summary has been generated from information found on Charity Navigator.
Is Phoenix Homes For Elderly Inc legitimate?
Phoenix Homes For Elderly Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Phoenix Homes For Elderly 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.
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What is the mission statement of Phoenix Homes For Elderly Inc?
Phoenix Homes For Elderly Inc's mission is centered around providing housing for individuals who are elderly or handicapped, falling under Section 202 of the National Housing Act. The organization's primary goal is to offer suitable living spaces for this specific demographic, ensuring they have a place to call home. The housing complex, regulated by the HUD, has rent charges and operating methods that are in compliance with the set guidelines. Currently, the complex houses 30 tenants, catering to their needs with the aim of providing a comfortable and secure living environment.
Who is the CEO of Phoenix Homes For Elderly Inc?
Kay Hale is the President of Phoenix Homes For Elderly Inc.
What is the revenue of Phoenix Homes For Elderly Inc?
Phoenix Homes For Elderly Inc's revenue in 2023 was $166,172.
Who are the executives of Phoenix Homes For Elderly Inc 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 Phoenix Homes For Elderly Inc?
Phoenix Homes For Elderly Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Phoenix Homes For Elderly Inc
Phoenix Homes for Elderly Inc is committed to providing housing for low-income elderly or handicapped individuals. This mission is in line with Section 202 of the National Housing Act, a regulatory framework administered by the Department of Housing and Urban Development (HUD). The organization manages a complex with 30 rental units, ensuring that the rent charges and operating methods adhere to HUD's guidelines. Phoenix Homes for Elderly Inc is dedicated to offering a safe and comfortable living environment for its tenants, providing them with the support they need to maintain their independence.
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Impact
October, 2024
Phoenix Homes For Elderly Inc significantly impacts the community by offering affordable housing for low-income elderly and handicapped individuals. By providing 30 rental units in Morristown, TN, this organization enables vulnerable populations to secure safe and stable living environments. Regulated under Section 202 of the National Housing Act, the organization ensures that rent charges remain affordable, allowing residents to allocate their limited financial resources to other essential needs. This initiative not only enhances the quality of life for tenants but also fosters a sense of community support and belonging among the elderly population. Overall, Phoenix Homes For Elderly Inc plays a crucial role in improving housing accessibility and promoting well-being for some of the most at-risk members of society.
This information is meant to be a general summary of Phoenix Homes For Elderly 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 2023.
- Investment Income: $9
- Program Service Revenue: $108,485
- Gross Receipts: $166,172
Assets and Liabilities:
- Total Assets: $846,801
- Total Liabilities: $1,557,452
- Net Assets: -$710,651
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$107,143
TENANT CHARGES
Revenue
$912
LAUNDRY & VENDING INCO
Revenue
$430
Organization Details
Founding Year
1995
Phone
(423) 587-4500Principal Officer
Kay Hale
Main Address
PO BOX 1218, MORRISTOWN, TN, 378161218
NTEE Category
Code: L20 - Housing
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