Overview
What is Palm Avenue Baptist Tower Inc?
Palm Avenue Baptist Tower Inc is a nonprofit organization located at 215 East Palm Avenue, Tampa, Florida 33602. Their primary focus is on providing affordable housing and assisted living services for low-income elderly individuals and those with disabilities. The organization is regulated and subsidized by the U.S. Department of Housing and Urban Development (HUD), ensuring that a substantial number of their 199 apartments remain accessible and affordable through Section 8 housing subsidies. The mission of Palm Avenue Baptist Tower Inc is to enhance the lives of these vulnerable individuals by offering a supportive living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
Palm Avenue Baptist Tower Inc has received a score of 88%, which reflects a solid performance in terms of accountability and finance. The organization demonstrates commendable practices with a fully independent board and a strong conflict of interest policy, highlighting its commitment to transparency and ethical governance.
The nonprofit excels in program expenses, allocating nearly 95% of its budget directly to its programs, which indicates a focused approach towards fulfilling its mission. Furthermore, the presence of comprehensive oversight mechanisms, such as an audit and oversight committee, showcases a robust financial management structure.
However, there is a noted liability to assets ratio of 58.38%, which may raise some concerns about the organization's financial stability. While the overall rating is positive, potential donors and stakeholders should consider this aspect when assessing the long-term sustainability of the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Palm Avenue Baptist Tower Inc legitimate?
Palm Avenue Baptist Tower Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Palm Avenue Baptist Tower 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: $479,223
For more financial information, click here
What is the mission statement of Palm Avenue Baptist Tower Inc?
Palm Avenue Baptist Tower Inc, as a HUD-subsidized and regulated apartment building, is committed to providing affordable housing and Assisted Living Facility (ALF) services to low-income elderly and/or handicapped individuals. The organization's mission is centered around making housing accessible for those who may not be able to afford it otherwise, ensuring that they live with the necessary care and support. The building, housing 199 units, operates under HUD regulations with a Section 8 housing subsidy.
Who is the CEO of Palm Avenue Baptist Tower Inc?
Randall Strain is the Director of Palm Avenue Baptist Tower Inc.
What is the revenue of Palm Avenue Baptist Tower Inc?
Palm Avenue Baptist Tower Inc's revenue in 2022 was $3,024,442.
Who are the executives of Palm Avenue Baptist Tower Inc and what are their salaries?
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
Where can I find the form 990 for Palm Avenue Baptist Tower Inc?
Palm Avenue Baptist Tower Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Palm Avenue Baptist Tower Inc
Palm Avenue Baptist Tower Inc, as a HUD-subsidized and regulated apartment building, is committed to providing affordable housing and Assisted Living Facility (ALF) services to low-income elderly and/or handicapped individuals. This nonprofit organization's mission is to ensure that these vulnerable groups have access to a secure and comfortable living environment. The building, housing 199 apartments, operates under HUD regulations with a Section 8 housing subsidy, ensuring that the rent remains affordable for its residents. Palm Avenue Baptist Tower Inc is dedicated to making a positive impact in the lives of its residents, providing them with the support they need to live with dignity and independence.
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Impact
July, 2024
Palm Avenue Baptist Tower Inc's impact is significant in providing affordable housing and assisted living services to low-income elderly and handicapped individuals in Tampa, Florida. With 199 apartments specially designed for this demographic, the organization plays a crucial role in supporting those in need of HUD-subsidized housing under the Section 8 subsidy program. By offering a safe and supportive living environment, Palm Avenue Baptist Tower Inc contributes towards enhancing the quality of life for vulnerable populations, ensuring they have access to essential housing and care services.
This information is meant to be a general summary of Palm Avenue Baptist Tower 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: $55
- Program Service Revenue: $1,590,055
- Gross Receipts: $3,024,442
Assets and Liabilities:
- Total Assets: $1,464,303
- Total Liabilities: $817,295
- Net Assets: $647,008
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$514,415
ALF RENTS
Revenue
$1,051,639
ROOF ANTENNA RENTS
Revenue
$24,001
Organization Details
Founding Year
1972
Phone
(813) 223-8686Principal Officer
Randall Strain
Main Address
215 EAST PALM AVE, TAMPA, FL, 33602
NTEE Category
Code: L22Z - Housing
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