Overview
What is Banjo Lane Apartments Inc?
Banjo Lane Apartments Inc, established in February 2009 in Centreville, Maryland, is a nonprofit organization committed to providing affordable housing for individuals suffering from chronic mental illness. Financed through the U.S. Department of Housing and Urban Development (HUD) under Section 811, the organization operates 10 units eligible for HUD project rental assistance. Its primary mission is to offer housing solutions for the chronically mentally disabled, ensuring they have a secure and supportive living environment, regulated by HUD in terms of rental charges and operational methods.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 59%, One-Star out of Four Star rating.
Banjo Lane Apartments Inc has received a low rating due to significant shortcomings in its governance structure and transparency. The organization has only 33% independent board members, resulting in a score of 0 out of 10 for that category. Additionally, its website is not listed on the tax form, which further detracts from its accountability measures.
Despite these issues, Banjo Lane Apartments Inc has demonstrated strong program expense management, with a program expense ratio of 79.34%. This indicates that a significant portion of its budget is directed toward its programs rather than administrative costs. The organization also maintains several important policies, including conflict of interest and whistleblower policies, which are properly documented and contribute positively to its overall governance.
However, the high liabilities to assets ratio at 88.44% raises concerns about its financial stability. Overall, while the organization exhibits some strengths in programmatic spending and policy adherence, its governance issues and financial ratios highlight critical areas for improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Banjo Lane Apartments Inc legitimate?
Banjo Lane Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Banjo 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: $0
For more financial information, click here
What is the mission statement of Banjo Lane Apartments Inc?
Banjo Lane Apartments Inc, established in 2009, is committed to providing affordable housing for individuals dealing with chronic mental disabilities. This mission is in line with Section 811 of the National Affordable Housing Act. The entity, supported by the U.S. Department of Housing and Urban Development (HUD), consists of ten units eligible for HUD project rental assistance. Banjo Lane Apartments Inc is regulated by HUD in terms of rent charges and operating methods, ensuring affordable and suitable living conditions for its residents.
Who is the CEO of Banjo Lane Apartments Inc?
Helen Lampman is the President of Banjo Lane Apartments Inc.
What is the revenue of Banjo Lane Apartments Inc?
Banjo Lane Apartments Inc's revenue in 2022 was $68,062.
Who are the executives of Banjo Lane Apartments Inc and what are their salaries?
There 5 volunteers at Banjo Lane Apartments Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $44,264
- Other: $0
- Compensation: $0
- Related: $10,102
- 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 Banjo Lane Apartments Inc?
Banjo Lane Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Banjo Lane Apartments Inc
Banjo Lane Apartments Inc, a nonprofit organization established in 2009, is committed to providing affordable housing to individuals who are chronically mentally disabled. This mission is aligned with Section 811 of the National Affordable Housing Act, which Banjo Lane Apartments Inc has leveraged to finance its operations. The entity, consisting of 10 units, is regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rental charges and operating methods. Banjo Lane Apartments Inc plays a critical role in offering housing and related facilities to individuals struggling with chronic mental illness, thereby contributing to their overall well-being.
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Impact
August, 2024
Banjo Lane Apartments Inc provides essential affordable housing for individuals suffering from chronic mental illness, offering a stable and supportive living environment. By developing and operating housing facilities under HUD's Section 811 program, the organization ensures that these vulnerable individuals have access to safe and appropriate accommodation. This impact extends beyond just providing shelter, as it contributes to the overall well-being and quality of life of the residents by addressing their specific needs in a compassionate and dignified manner. The work of Banjo Lane Apartments Inc plays a crucial role in promoting inclusivity and support for those with chronic mental illness in the community.
This information is meant to be a general summary of Banjo 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: $15
- Program Service Revenue: $33,226
- Gross Receipts: $68,062
Assets and Liabilities:
- Total Assets: $1,351,961
- Total Liabilities: $1,166,888
- Net Assets: $185,073
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$33,226
Organization Details
Founding Year
2009
Phone
(410) 758-3050Principal Officer
Helen Lampman
Main Address
120 BANJO LANE, CENTREVILLE, MD, 21617
NTEE Category
Code: L20 - Housing
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