Overview
What is Highland Rim Terrace Inc?
Highland Rim Terrace Inc is a nonprofit organization, established under Section 501(C)(3) of the United States Internal Revenue Code, situated in Portland, Tennessee. Its primary aim is to provide affordable housing for the senior citizen community. The organization has accomplished its first exempt purpose by offering 52 apartment units at an affordable price. Highland Rim Terrace acquired an interest in real property and constructed an apartment complex, adhering to Section 8-202 of the National Housing Act. The organization's operations include managing these units, ensuring they cater to the needs of senior residents. With a dedicated workforce of six individuals, Highland Rim Terrace continues to uphold its mission of providing affordable housing for the senior community in Portland, Tennessee.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (67%)
Highland Rim Terrace Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in its operations and transparency. While the organization has a strong commitment to program expenses, with an impressive 93.38% of its budget directed towards programs, there are several significant gaps in its accountability and finance practices. The organization scores poorly for not providing financial statements or essential governance documents, which raises concerns about its overall transparency.
The organization benefits from having a highly independent board, with 88% of its members being independent, which is a positive aspect of its governance structure. This independence can be vital for effective oversight and decision-making. However, the lack of crucial policies such as conflict of interest and whistleblower protocols diminishes its accountability framework and could pose risks to its operations.
In summary, Highland Rim Terrace Inc has strengths in program spending and board independence but must address its weaknesses in financial transparency and governance policies to enhance its credibility and operational effectiveness. Improving these areas would likely lead to a better rating and increased trust from donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Highland Rim Terrace Inc legitimate?
Highland Rim Terrace Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Highland Rim Terrace 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: $49,171
Professional Fundraising Fees: $0
Other Salaries and Wages: $72,831
For more financial information, click here
What is the mission statement of Highland Rim Terrace Inc?
Highland Rim Terrace Inc, a nonprofit organization under Section 501(C)(3) of the United States Internal Revenue Code, is established with the primary objective of providing affordable housing for the senior citizen community. It accomplishes this by acquiring interest in real property and constructing an apartment complex comprising 52 units, adhering to Section 8-202 of the National Housing Act. The organization's mission is centered around offering affordable living spaces, contributing positively to the senior citizen community.
Who is the CEO of Highland Rim Terrace Inc?
Mark Rice is the Administrato of Highland Rim Terrace Inc.
What is the revenue of Highland Rim Terrace Inc?
Highland Rim Terrace Inc's revenue in 2022 was $464,769.
Who are the executives of Highland Rim Terrace Inc and what are their salaries?
The average compensation at Highland Rim Terrace Inc during 2022 was $20,334. There are 6 employees and 8 volunteers at Highland Rim Terrace Inc.
Here are 10 key members and their salaries:
- Compensation: $570
- Related: $0
- Other: $0
- Compensation: $48,601
- Related: $0
- Other: $0
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- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Highland Rim Terrace Inc?
Highland Rim Terrace Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Highland Rim Terrace Inc
Highland Rim Terrace Inc, a nonprofit organization under Section 501(C)(3) of the United States Internal Revenue Code, was established with a clear mission. Its primary goal is to provide affordable housing for the senior citizen community. To achieve this, Highland Rim Terrace Inc acquires an interest in real property and constructs an apartment complex, housing 52 units. This complex operates under Section 8-202 of the National Housing Act, ensuring that it caters specifically to the needs of the elderly population. The organization's mission is commendable, aiming to enable seniors to live comfortably and affordably, thereby contributing positively to their overall well-being and quality of life.
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Impact
July, 2024
Highland Rim Terrace Inc's impact is centered around providing affordable housing for the senior citizen community in Portland, Tennessee. By acquiring real property and constructing an apartment complex with 52 units, the organization offers a vital resource for seniors in need of affordable living accommodations. This initiative addresses a crucial need within the community and contributes to the well-being and security of its senior residents.
This information is meant to be a general summary of Highland Rim Terrace 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: $47
- Program Service Revenue: $222,746
- Gross Receipts: $464,769
Assets and Liabilities:
- Total Assets: $649,205
- Total Liabilities: $1,142,053
- Net Assets: -$492,848
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$209,649
CABLE FEES
Revenue
$14,809
LAUNDRY AND VENDING REVENUE
Revenue
$3,809
MISCELLANEOUS
Revenue
$1,360
VACANCIES
Revenue
-$6,881
Organization Details
Founding Year
1995
Phone
(615) 325-3245Principal Officer
Mark Rice
Main Address
100 WOODLAND DRIVE, PORTLAND, TN, 37148
NTEE Category
Code: L21 - Housing
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