Overview
What is Laurel Creek Apartments Inc?
Laurel Creek Apartments Inc is a nonprofit organization situated in Cookeville, Tennessee, specifically at 1104 England Drive. Their primary mission is to provide affordable housing for low-income senior adults, adhering to Section 202 of the National Housing Act. This project is committed to enhancing the elderly's well-being, striving to create an environment that promotes their overall health and comfort. The rent for these apartments is subsidized by the U.S. Department of Housing and Urban Development (HUD).
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Laurel Creek Apartments Inc has achieved an impressive 94% score on Charity Navigator, indicating strong performance in accountability and financial management. The organization boasts a fully independent board with 100% of its members being independent, which ensures unbiased decision-making. Additionally, it has established robust governance practices, including conflict of interest and whistleblower policies.
The charity demonstrates effective financial health, with a liabilities to assets ratio of only 3.32%, indicating a solid financial position. Furthermore, it allocates a significant portion of its budget to programs, with a program expense ratio of 91.18%, showing a commitment to its mission. These strengths reflect the organization's dedication to transparency and responsible financial stewardship.
While the data provided highlights numerous strengths, it does not mention any specific challenges or limitations faced by Laurel Creek Apartments Inc. Overall, the high rating underscores the organization's reliability and effectiveness in serving its community.
This AI summary has been generated from information found on Charity Navigator.
Is Laurel Creek Apartments Inc legitimate?
Laurel Creek Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Laurel Creek 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 Laurel Creek Apartments Inc?
Laurel Creek Apartments Inc has a commitment to serving the elderly population by providing affordable housing. They strive to create an environment that promotes the well-being of the individuals residing there. The project is a 20-unit apartment complex, operated under Section 202 of the National Housing Act, with rent subsidized by HUD. This initiative aims to provide a living space where senior adults can thrive in a supportive and affordable setting.
Who is the CEO of Laurel Creek Apartments Inc?
Myra Walker is the Chairperson of Laurel Creek Apartments Inc.
What is the revenue of Laurel Creek Apartments Inc?
Laurel Creek Apartments Inc's revenue in 2022 was $132,068.
Who are the executives of Laurel Creek Apartments Inc and what are their salaries?
There 3 volunteers at Laurel Creek Apartments Inc.
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 Laurel Creek Apartments Inc?
Laurel Creek Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Laurel Creek Apartments Inc
Laurel Creek Apartments Inc is dedicated to serving the elderly population by providing affordable housing. The organization strives to create an environment that promotes the well-being of its residents. This commitment is reflected in their 20-unit apartment complex, which is operated under Section 202 of the National Housing Act and has rent subsidized by the HUD. By offering affordable housing, Laurel Creek Apartments Inc aims to support the elderly in maintaining a decent standard of living, thereby enhancing their overall quality of life.
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Impact
October, 2024
Laurel Creek Apartments Inc has a significant impact on the community by providing affordable housing specifically designed for low-income senior adults. The 20-unit apartment complex in Cookeville, TN, is dedicated to creating an environment that fosters the well-being of its residents. By operating under Section 202 of the National Housing Act and receiving rent subsidies from HUD, the facility ensures that essential housing is accessible to those who need it most.
This commitment to affordable housing not only addresses the critical need for safe and stable living conditions for the elderly but also promotes a sense of community and belonging among residents. By prioritizing their well-being, Laurel Creek Apartments Inc enhances the quality of life for senior adults, allowing them to age in place comfortably and with dignity. The project plays a vital role in combating housing insecurity and promoting social stability within the community.
This information is meant to be a general summary of Laurel Creek 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: $6
- Program Service Revenue: $65,873
- Gross Receipts: $132,068
Assets and Liabilities:
- Total Assets: $893,827
- Total Liabilities: $21,432
- Net Assets: $872,395
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$65,873
Organization Details
Founding Year
2003
Phone
(931) 432-4111Principal Officer
Myra Walker
Main Address
1104 ENGLAND DRIVE, COOKEVILLE, TN, 38501
NTEE Category
Code: L22 - Housing
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