Overview
What is Forest Lane Apartments Inc?
Forest Lane Apartments Inc is a 24-unit housing complex, specifically designed for individuals grappling with chronic mental illness. This nonprofit organization, located in St. Petersburg, Florida, operates under the National Affordable Housing Act's Section 811 Capital Advance. The apartment complex has a Project Rental Assistance Contract, and all its tenants are associated with Boley Centers Inc, a related 501(c)(3) organization. The main mission of Forest Lane Apartments Inc is to offer safe and affordable housing to these individuals, aiming to improve their quality of life and support their recovery journey.
Official website here: www.boleycenters.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82%, Three-Star out of Four Star rating.
Forest Lane Apartments Inc has achieved a solid Three-Star rating from Charity Navigator, reflecting an overall score of 82% based on its accountability and finance metrics. This rating indicates that the organization demonstrates a commendable level of transparency and effective financial management, which is crucial for building trust with donors and stakeholders.
The nonprofit shows strengths in several key areas, such as having a fully independent board composed of nine members, which contributes positively to its governance. Additionally, it has no reported material diversion of assets, and it has established robust policies, including a conflict of interest policy and a whistleblower policy. The organization also maintains a high program expense ratio of 79.31%, suggesting that a significant portion of its funds is directed towards its charitable activities.
While the financial details of key personnel's salaries are provided, including a notable salary for the CEO, it is worth considering how these expenses align with the nonprofit's mission and overall impact. Overall, Forest Lane Apartments Inc appears to maintain strong practices in governance and financial oversight, although potential donors may benefit from further information on its program outcomes and community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Forest Lane Apartments Inc legitimate?
Forest Lane Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Forest Lane Apartments 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: $10,884
For more financial information, click here
Official website here: www.boleycenters.org
What is the mission statement of Forest Lane Apartments Inc?
Forest Lane Apartments Inc, as a housing provider, is dedicated to offering accommodation to individuals dealing with chronic mental illness. This population is primarily drawn from Boley Centers Inc, a related 501(c)(3) organization. The mission of Forest Lane Apartments Inc is centered around providing a suitable living space for individuals with chronic mental illness, thereby contributing to their overall well-being. The apartment complex, consisting of 24 units, is funded under the Section 811 Capital Advance of the National Affordable Housing Act, with a Project Rental Assistance Contract. All tenants residing in the project are clients of Boley Centers Inc.
Official website here: www.boleycenters.org
Who is the CEO of Forest Lane Apartments Inc?
Kevin Marrone is the Vice Preside of Forest Lane Apartments Inc. The CEO's salary of Forest Lane Apartments Inc is $0 and their total compensation is $129,686.
Official website here: www.boleycenters.org
What is the revenue of Forest Lane Apartments Inc?
Forest Lane Apartments Inc's revenue in 2022 was $114,930.
Official website here: www.boleycenters.org
Who are the executives of Forest Lane Apartments Inc and what are their salaries?
Here are 9 key members and their salaries (Forest Lane Apartments Inc's CEO's salary is $0 and their total compensation is $129,686):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $154,733
- Other: $4,711
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $89,097
- Other: $15,322
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $125,916
- Other: $3,770
Official website here: www.boleycenters.org
Where can I find the form 990 for Forest Lane Apartments Inc?
Forest Lane Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.boleycenters.org
Learn more at the official website: www.boleycenters.org
Mission Statement of Forest Lane Apartments Inc
Forest Lane Apartments Inc, a nonprofit organization, is committed to providing housing for individuals dealing with chronic mental illness. These individuals are all clients of Boley Centers, Inc., a related 501(c)(3) organization. The mission of Forest Lane Apartments Inc is to offer a safe and supportive living environment for these individuals, enabling them to live independently while receiving the necessary care and support. The organization manages a 24-unit apartment complex, funded through a Section 811 Capital Advance of the National Affordable Housing Act, with a Project Rental Assistance Contract. All tenants residing in this complex are clients of Boley Centers, Inc., ensuring a continuous support system. The mission of Forest Lane Apartments Inc is to provide a home and community for those struggling with chronic mental illness, fostering their independence and well-being.
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Impact
October, 2024
Forest Lane Apartments Inc significantly enhances the quality of life for individuals with chronic mental illness in St. Petersburg, FL, by providing stable and supportive housing. With a 24-unit apartment complex specifically designed for this population, it addresses a critical need for accessible living spaces that promote mental well-being and community integration.
The influence of Forest Lane Apartments extends beyond just housing; it fosters a sense of belonging and security for its tenants, who are clients of Boley Centers, Inc. This connection allows residents to benefit from additional support services, encouraging personal growth and recovery. By offering affordable housing under the Section 811 program, Forest Lane Apartments plays a vital role in alleviating homelessness among individuals with mental health challenges, which can lead to improved health outcomes and increased stability in their lives.
In essence, Forest Lane Apartments Inc is a cornerstone of the local community, helping to break the cycle of mental illness and housing instability, thereby paving the way for a brighter future for its residents.
This information is meant to be a general summary of Forest Lane Apartments 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: $54
- Program Service Revenue: $59,985
- Gross Receipts: $114,930
Assets and Liabilities:
- Total Assets: $585,453
- Total Liabilities: $1,358,742
- Net Assets: -$773,289
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$59,985
Organization Details
Founding Year
1994
Phone
(727) 821-4819Principal Officer
Kevin Marrone
Main Address
445 31ST STREET NORTH, ST PETERSBURG, FL, 33713
Website
www.boleycenters.orgNTEE Category
Code: L20Z - Housing
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