Overview
What is Miles Foundation Service Corporation?
Miles Foundation Service Corporation is a nonprofit organization situated in Fairfield, Alabama, with a primary focus on providing housing for individuals with low incomes and the elderly. Their operations are under the supervision of the U.S. Department of Housing and Urban Development (HUD), ensuring compliance with regulations and standards. The organization manages a housing complex named W. Clyde Williams Terrace, providing a residence for those in need. With a team of 8 dedicated employees, Miles Foundation Service Corporation plays a vital role in offering affordable housing options and contributing to the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating.
Miles Foundation Service Corporation has achieved a rating of 79% based solely on its Accountability & Finance score. This score reflects the organization’s strong governance practices, featuring a board composed entirely of independent members and robust financial oversight mechanisms. The nonprofit demonstrates thorough adherence to policies such as conflict of interest, whistleblower protections, and document retention, contributing positively to its accountability efforts.
The financial health of the organization is highlighted by a program expense ratio of 80.19%, indicating that a significant portion of resources is directed toward its mission-related activities. However, there is a notable concern regarding the organization's liabilities to assets ratio, which stands at 93.13%. This high ratio suggests potential financial vulnerability, as it indicates that liabilities are almost equal to total assets, which could impact long-term sustainability.
Overall, while Miles Foundation Service Corporation excels in governance and programmatic spending, the financial structure raises some questions about its long-term viability. The organization’s comprehensive policies and independent oversight point to a commitment to transparency and accountability, yet stakeholders may want to consider the implications of the liabilities when evaluating its overall performance.
This AI summary has been generated from information found on Charity Navigator.
Is Miles Foundation Service Corporation legitimate?
Miles Foundation Service Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Miles Foundation Service Corporation 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.
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What is the mission statement of Miles Foundation Service Corporation?
The Miles Foundation Service Corporation is dedicated to providing housing for individuals with low income and the elderly. Their mission is overseen by the U.S. Department of Housing and Urban Development (HUD), ensuring that all their activities adhere to strict regulations. The organization's primary focus is on managing this housing complex, providing a safe and affordable living space for its tenants. While the information provided does not detail specific goals beyond housing, it is clear that the Miles Foundation Service Corporation prioritizes the needs of its vulnerable tenant population.
Who is the CEO of Miles Foundation Service Corporation?
Rev Dr Clarence K Heath is the Board Chair of Miles Foundation Service Corporation.
What is the revenue of Miles Foundation Service Corporation?
Miles Foundation Service Corporation's revenue in 2022 was $1,492,358.
Who are the executives of Miles Foundation Service Corporation and what are their salaries?
There are 8 employees at Miles Foundation Service Corporation.
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Where can I find the form 990 for Miles Foundation Service Corporation?
Miles Foundation Service Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Miles Foundation Service Corporation
Miles Foundation Service Corporation is dedicated to serving the needs of low-income and elderly individuals by managing a housing complex. Their activities are strictly overseen by the U.S. Department of Housing and Urban Development (HUD), ensuring compliance with all regulations and standards. The organization's mission is to provide a safe and affordable living space for this vulnerable population, offering them a sense of security and stability. By operating under HUD's guidelines, Miles Foundation Service Corporation ensures that its tenants receive the necessary support and resources to maintain a comfortable and dignified living environment.
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Impact
July, 2024
Miles Foundation Service Corporation's impact can be seen in the provision of affordable housing for low-income and elderly tenants in Fairfield, AL. By operating a housing complex that adheres to regulations set by the U.S. Department of Housing and Urban Development (HUD), the organization plays a crucial role in providing a safe and secure living environment for those in need. This vital service helps to address the housing challenges faced by vulnerable populations in the community, ultimately improving their quality of life and well-being.
This information is meant to be a general summary of Miles Foundation Service Corporation. 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: $496
- Program Service Revenue: $1,485,053
- Gross Receipts: $1,492,358
Assets and Liabilities:
- Total Assets: $2,744,714
- Total Liabilities: $2,631,730
- Net Assets: $112,984
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tenant Rent
Revenue
$1,485,053
Organization Details
Founding Year
1981
Phone
(256) 837-6000Principal Officer
Rev Dr Clarence K Heath
Main Address
6301 Myron Massey Boulevard, Fairfield, AL, 35064
NTEE Category
Code: L22 - Housing
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