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Peninsula Housing Development Inc X Cutler Bay Apartments

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 650650914 ✦ Miami, FL ✦ Designated as a 501(c)(3)

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Overview

What is Peninsula Housing Development Inc X Cutler Bay Apartments?

Peninsula Housing Development Inc X Cutler Bay Apartments is a nonprofit organization incorporated in Florida, specifically located at 1223 SW 4th Street, 2nd Floor, Miami, FL 33135. Their primary mission is to provide affordable housing facilities for elderly individuals. Established under Florida's laws and statutes, the organization operates a HUD 202 project, which is dedicated to this purpose. By doing so, they contribute to addressing housing needs for a vulnerable demographic, thereby enhancing their overall quality of life.

What are the reviews and ratings of this charity?

Charity Navigator Rating: 79% (Three-Star out of Four Star rating)

Peninsula Housing Development Inc X Cutler Bay Apartments has received a 79% rating from Charity Navigator, indicating a solid performance in the area of accountability and finance. The overall score is derived entirely from the accountability and finance metrics, reflecting the organization’s commitment to transparency and responsible financial management. The organization has a majority independent board, which ensures unbiased oversight, and it has scored perfectly in several important governance areas, including its conflict of interest and whistleblower policies.

Financially, the organization demonstrates a strong commitment to its mission, with an impressive program expense ratio of 99.60%, suggesting that almost all of its funds are directed towards its programs and initiatives. However, it has a significant liability to assets ratio of 211.43%, which may raise concerns about financial sustainability and risk management. This aspect indicates that the organization may be over-leveraged, potentially impacting its long-term viability.

Overall, while Peninsula Housing Development Inc X Cutler Bay Apartments shows strong governance and programmatic focus, its financial leverage is a limitation worth noting. Stakeholders may want to monitor how the organization manages its liabilities moving forward.


This AI summary has been generated from information found on Charity Navigator.

Is Peninsula Housing Development Inc X Cutler Bay Apartments legitimate?

Peninsula Housing Development Inc X Cutler Bay Apartments is a legitimate nonprofit organization registered as a 501(c)(3) entity. Peninsula Housing Development Inc X Cutler Bay 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: $85,363

For more financial information, click here

What is the mission statement of Peninsula Housing Development Inc X Cutler Bay Apartments?

The mission of Peninsula Housing Development Inc's X Cutler Bay Apartments, as a nonprofit organization, is primarily focused on providing affordable housing facilities. Incorporated under the laws of Florida, this organization's purpose is to cater to the needs of elderly individuals. By developing, owning, and operating a HUD 202 project, they aim to offer suitable living spaces at affordable prices, thereby contributing to the well-being of the elderly population.

Who is the CEO of Peninsula Housing Development Inc X Cutler Bay Apartments?

Guarione Diaz is the President of Peninsula Housing Development Inc X Cutler Bay Apartments.

What is the revenue of Peninsula Housing Development Inc X Cutler Bay Apartments?

Peninsula Housing Development Inc X Cutler Bay Apartments's revenue in 2022 was $619,214.

Who are the executives of Peninsula Housing Development Inc X Cutler Bay Apartments and what are their salaries?

There 6 volunteers at Peninsula Housing Development Inc X Cutler Bay Apartments.


Here are 8 key members and their salaries:


Guarione Diaz (President)
  • Compensation: $0
  • Related: $93,784
  • Other: $16,083
Sergio Masvidal (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Wilfredo Allen (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Raquel C Switzer (Treasury)
  • Compensation: $0
  • Related: $0
  • Other: $0
Marta Navarro (Director)
  • Compensation: $0
  • Related: $163,610
  • Other: $26,632
Gladys Barreiro (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Noel Cubela (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Luis Fernandez (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Peninsula Housing Development Inc X Cutler Bay Apartments?

Peninsula Housing Development Inc X Cutler Bay Apartments's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Peninsula Housing Development Inc X Cutler Bay Apartments

Peninsula Housing Development Inc X Cutler Bay Apartments is a nonprofit organization established under the laws and statutes of Florida. Its primary mission is to develop, own, and operate affordable housing facilities, specifically catering to the elderly population. The organization's main objective is to provide these elderly individuals with suitable living spaces, ensuring they can reside in comfort and security. By doing so, Peninsula Housing Development Inc X Cutler Bay Apartments plays a crucial role in addressing the housing needs of an often underserved demographic, thereby contributing to their overall well-being and quality of life.

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Impact




July, 2024

Peninsula Housing Development Inc X Cutler Bay Apartments provides affordable housing facilities to elderly persons in Miami, FL. Through their mission of offering affordable housing, they have a direct impact on enhancing the quality of life for the elderly population in the community. By ensuring that elderly individuals have access to safe and affordable housing, Peninsula Housing Development Inc X Cutler Bay Apartments contributes to promoting dignity, security, and stability for this vulnerable group. Their work helps address the housing needs of seniors, allowing them to age in place with comfort and dignity. In doing so, Peninsula Housing Development Inc X Cutler Bay Apartments positively impacts the overall well-being and quality of life of the elderly residents they serve.




This information is meant to be a general summary of Peninsula Housing Development Inc X Cutler Bay 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.

Revenue
$619,214 (2022)
201220142016201820202022$0$200k$400k$600k$800k
Expenses
$875,944 (2022)
201220142016201820202022$0$250k$500k$750k$1M
Efficiency
2012201420162018202020220%7%14%21%32%

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $156
  • Program Service Revenue: $616,235
  • Gross Receipts: $619,214

Assets and Liabilities:

  • Total Assets: $3,458,448
  • Total Liabilities: $6,856,063
  • Net Assets: -$3,397,615

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

TENANTS' RENTS

Revenue

$244,879

LAUNDRY AND VENDING

Revenue

$8,120

Organization Details

Founding Year

1996

Principal Officer

Guarione Diaz

Main Address

1223 SW 4TH STREET 2ND FLOOR, MIAMI, FL, 331352407

NTEE Category

Code: L20 - Housing

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