Overview
What is Peninsula Housing Development Inc Viii Blue Lagoon Apartments?
Peninsula Housing Development Inc Viii Blue Lagoon Apartments is a nonprofit organization based in Miami, Florida, specifically at 1223 SW 4th Street 2nd Floor. Incorporated under the state's laws, their primary mission is to provide affordable housing facilities for the elderly population. To accomplish this, they develop, own, and manage a HUD 202 project, which offers housing facilities specifically designed for senior citizens. This nonprofit organization strives to contribute positively to the community by offering essential housing solutions for an often underserved demographic.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (64%)
Peninsula Housing Development Inc VIII Blue Lagoon Apartments has received a two-star rating, indicating a need for improvement. The organization excels in accountability and finance, achieving a perfect score of 100% in this area. Key strengths include a majority of independent board members and the presence of essential policies, such as conflict of interest and whistleblower policies, which contribute to organizational governance.
However, the nonprofit faces significant challenges in financial transparency, as it has not provided financial statements and lacks a website listed on its tax form. The liabilities to assets ratio is notably high at 211.55%, suggesting financial risk. Although the program expense ratio is strong at 99.47%, the lack of accessible financial documentation may hinder trust among potential donors and stakeholders.
Overall, while Peninsula Housing Development Inc VIII demonstrates strong governance practices, it must address its financial reporting and transparency issues to improve its overall rating and public perception.
This AI summary has been generated from information found on Charity Navigator.
Is Peninsula Housing Development Inc Viii Blue Lagoon Apartments legitimate?
Peninsula Housing Development Inc Viii Blue Lagoon Apartments is a legitimate nonprofit organization registered as a 501(c)(3) entity. Peninsula Housing Development Inc Viii Blue Lagoon Apartments 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: $137,200
For more financial information, click here
What is the mission statement of Peninsula Housing Development Inc Viii Blue Lagoon Apartments?
Peninsula Housing Development Inc VIII, as a nonprofit organization, is established under Florida's laws with the primary objective of developing, owning, and managing affordable housing facilities. This organization specifically focuses on providing housing for the elderly population, operating under the HUD 202 project. The fundamental mission of Peninsula Housing Development Inc VIII is to offer affordable living spaces to the elderly population, ensuring they have accessible and suitable housing facilities. This mission aligns with the organization's belief in promoting affordable housing opportunities for a vulnerable group in society. The organization's main activity revolves around this mission, providing a much-needed service to the elderly community.
Who is the CEO of Peninsula Housing Development Inc Viii Blue Lagoon Apartments?
Guarione M Diaz is the President of Peninsula Housing Development Inc Viii Blue Lagoon Apartments.
What is the revenue of Peninsula Housing Development Inc Viii Blue Lagoon Apartments?
Peninsula Housing Development Inc Viii Blue Lagoon Apartments's revenue in 2022 was $600,566.
Who are the executives of Peninsula Housing Development Inc Viii Blue Lagoon Apartments and what are their salaries?
There 6 volunteers at Peninsula Housing Development Inc Viii Blue Lagoon Apartments.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $93,784
- Other: $16,083
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $163,610
- Other: $26,632
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- 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 Peninsula Housing Development Inc Viii Blue Lagoon Apartments?
Peninsula Housing Development Inc Viii Blue Lagoon Apartments's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Peninsula Housing Development Inc Viii Blue Lagoon Apartments
Peninsula Housing Development Inc VIII, a nonprofit organization based in Florida, is dedicated to serving the elderly population. Its primary mission is to develop, own, and operate an affordable housing facility, specifically under the HUD 202 project. This endeavor is designed to provide suitable living spaces for elderly individuals, ensuring their needs are met with care and consideration. By doing so, Peninsula Housing Development Inc VIII is contributing to the well-being of the elderly community, offering them a secure and affordable living environment.
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Impact
July, 2024
Peninsula Housing Development Inc Viii Blue Lagoon Apartments has had a significant impact on the community by providing affordable housing facilities to elderly persons in Miami, Florida. Through its development, ownership, and operation of a HUD 202 project, this organization has addressed a critical need for housing among this vulnerable demographic. By offering safe and affordable housing options, Peninsula Housing Development Inc Viii Blue Lagoon Apartments has improved the quality of life for elderly individuals who may have limited means. This impact contributes to the overall well-being and stability of the community, ensuring that elderly residents have access to suitable living conditions.
This information is meant to be a general summary of Peninsula Housing Development Inc Viii Blue Lagoon Apartments. 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: $161
- Program Service Revenue: $600,405
- Gross Receipts: $600,566
Assets and Liabilities:
- Total Assets: $3,618,608
- Total Liabilities: $7,373,040
- Net Assets: -$3,754,432
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$272,869
LAUNDRY
Revenue
$6,570
MISCELLANEOUS INCOME
Revenue
$420
Organization Details
Founding Year
1995
Phone
(305) 642-3634Principal Officer
Guarione M Diaz
Main Address
1223 SW 4TH STREET 2ND FLOOR, MIAMI, FL, 331352407
NTEE Category
Code: L21 - Housing
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