Overview
What is Fairground Apartments Inc?
Fairground Apartments Inc is a nonprofit organization that specializes in providing affordable housing for individuals with disabilities. The organization operates an eleven-unit apartment complex, where rental assistance is granted based on the residents' income levels, thanks to funding from the U.S. Department of Housing and Urban Development (HUD). Fairground Apartments Inc's primary mission is to offer a secure living environment for disabled individuals, ensuring they have access to suitable housing accommodations.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star Rating)
Fairground Apartments Inc has achieved a remarkable 94% score, reflecting its strong performance in accountability and finance. The organization is commended for its complete independence in board composition, with 100% of its board members being independent. This structure contributes to high trust and oversight standards, essential factors for nonprofit success.
The organization shows no material diversion of assets and has established comprehensive policies, including those for conflict of interest, whistleblower protection, and document retention. Additionally, the organization maintains proper documentation of board meeting minutes, further enhancing its transparency and governance practices.
Financially, Fairground Apartments demonstrates robust health with a liabilities to assets ratio of just 6.62%, indicating low financial risk. Its program expense ratio of 91.14% signifies a strong commitment to channeling funds directly into its programs, ensuring that the majority of its resources are allocated to its mission rather than administrative costs. Overall, the data suggests that Fairground Apartments Inc operates with a high level of accountability and efficiency.
This AI summary has been generated from information found on Charity Navigator.
Is Fairground Apartments Inc legitimate?
Fairground Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fairground 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
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What is the mission statement of Fairground Apartments Inc?
Fairground Apartments Inc is dedicated to providing subsidized housing for individuals with disabilities. They accomplish this mission through an eleven-unit apartment complex, offering rental assistance based on income levels, which is facilitated by HUD. The organization aims to make affordable living options accessible for this specific group, thereby contributing to their well-being and independence. The subsidized housing offered by Fairground Apartments Inc plays a crucial role in ensuring that individuals with disabilities have a stable living environment, enabling them to focus on their personal development and overall quality of life.
Who is the CEO of Fairground Apartments Inc?
Myra Walker is the Secretary/Treasurer of Fairground Apartments Inc.
What is the revenue of Fairground Apartments Inc?
Fairground Apartments Inc's revenue in 2023 was $73,171.
Who are the executives of Fairground Apartments Inc and what are their salaries?
Here are 3 key members and their salaries:
- 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 Fairground Apartments Inc?
Fairground Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Fairground Apartments Inc
Fairground Apartments Inc, as a nonprofit organization, is dedicated to providing subsidized housing for individuals with disabilities. Their mission is realized through an eleven-unit apartment complex, where rental assistance is offered based on each resident's income level, funded by the HUD (Department of Housing and Urban Development). The apartment complex serves as a safe and affordable living space for those in need, enabling them to maintain independence and stability. By offering subsidized housing, Fairground Apartments Inc plays a significant role in enhancing the quality of life for the disabled community, ensuring they have access to decent and affordable housing, which is a fundamental human right.
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Impact
August, 2024
Fairground Apartments Inc's impact is vital in providing subsidized housing for the disabled community. Through their eleven-unit apartment complex in Cookeville, Tennessee, they offer affordable housing options with rental assistance based on income levels provided by HUD. This initiative helps to address the housing needs of disabled individuals, ensuring they have a stable and supportive living environment. By offering accessible and affordable housing options, Fairground Apartments Inc contributes to enhancing the quality of life and ensuring the well-being of disabled individuals in the community.
This information is meant to be a general summary of Fairground 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 2023.
- Investment Income: $2
- Program Service Revenue: $39,876
- Gross Receipts: $73,171
Assets and Liabilities:
- Total Assets: $632,648
- Total Liabilities: $41,938
- Net Assets: $590,710
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROUP HOME OPERATIONS
Revenue
$39,876
Organization Details
Founding Year
2005
Phone
(931) 432-4111Principal Officer
Myra Walker
Main Address
1104 ENGLAND DRIVE, COOKEVILLE, TN, 38501
NTEE Category
Code: L21 - Housing
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