Overview
What is St Mary Towers Inc?
St. Mary Towers Inc. is a nonprofit organization, specifically a HUD project, situated beyond the scope of the provided information. Their primary mission revolves around offering affordable housing for the elderly and individuals with disabilities. Under the HUD project, they provide a collection of rental units meticulously tailored to cater to the unique needs of this demographic. This crucial service aims to enhance the living conditions for these individuals, thereby contributing to a more inclusive and supportive community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
St Mary Towers Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The overall score of 79% reflects strong governance practices, including a fully independent board and comprehensive financial oversight. The charity demonstrated effectiveness through its high program expense ratio of 91.37%, ensuring that a significant portion of its funds directly supports its mission.
However, the organization does face a notable limitation with a liabilities to assets ratio of 162.13%, which suggests that its liabilities significantly exceed its assets. This could raise concerns about the long-term financial sustainability of the nonprofit. While the charity excels in governance and program expenses, this financial aspect may require ongoing attention to enhance stability and reassure stakeholders.
Overall, St Mary Towers Inc exhibits commendable practices in transparency and accountability, but potential donors and supporters should consider the financial health as a critical factor when evaluating their contribution or support.
This AI summary has been generated from information found on Charity Navigator.
Is St Mary Towers Inc legitimate?
St Mary Towers Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Mary Towers 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $152,145
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What is the mission statement of St Mary Towers Inc?
St. Mary Towers Inc. is dedicated to providing low-income housing for the elderly and handicapped. As a HUD project, it offers rental units tailored to cater to this specific demographic. The organization's primary mission is to ensure that eligible individuals have access to suitable living quarters, thereby enhancing their quality of life. Their activities primarily involve managing and maintaining these rental units, ensuring they are suitable for the residents' needs. St. Mary Towers Inc. strives to create a welcoming and supportive environment for its residents, promoting their overall well-being.
Who is the CEO of St Mary Towers Inc?
Rev Marcos Somarriba is the President of St Mary Towers Inc.
What is the revenue of St Mary Towers Inc?
St Mary Towers Inc's revenue in 2023 was $1,312,218.
Who are the executives of St Mary Towers Inc and what are their salaries?
The average compensation at St Mary Towers Inc during 2023 was $25,358. There are 6 employees and 6 volunteers at St Mary Towers Inc.
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Where can I find the form 990 for St Mary Towers Inc?
St Mary Towers Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of St Mary Towers Inc
St. Mary Towers Inc, as a HUD-funded project, is dedicated to providing low-income housing for the elderly and handicapped community. Its mission is to offer rental units that cater specifically to this demographic, ensuring they have a secure and comfortable living space. By doing so, St. Mary Towers Inc contributes to enhancing the quality of life for this vulnerable population, offering them the support they need to maintain their independence and dignity.
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Impact
July, 2024
St Mary Towers Inc's impact can be seen in its provision of affordable housing for low-income elderly individuals in Lauderdale Lakes, FL. By offering rental units tailored to accommodate handicapped and elderly residents, St Mary Towers Inc plays a crucial role in addressing the housing needs of this vulnerable population. Their mission to provide affordable housing options that cater to specific needs demonstrates a commitment to enhancing the quality of life for elderly individuals in the community. Through their efforts, St Mary Towers Inc contributes to promoting housing stability and improving the well-being of low-income elderly residents in the area.
This information is meant to be a general summary of St Mary Towers 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: $1,059
- Program Service Revenue: $1,311,159
- Gross Receipts: $1,312,218
Assets and Liabilities:
- Total Assets: $2,161,072
- Total Liabilities: $3,503,868
- Net Assets: -$1,342,796
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE PAYM
Revenue
$1,038,203
RENTAL INCOME, NET
Revenue
$268,113
COIN LAUNDRY AND VENDI
Revenue
$4,614
TENANT CHARGES
Revenue
$229
Organization Details
Founding Year
1990
Phone
(954) 484-1515Principal Officer
Rev Marcos Somarriba
Main Address
4790 N STATE ROAD 7, LAUDERDALE LAKES, FL, 33319
NTEE Category
Code: L22 - Housing
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