Overview
What is Midtown Homes Inc?
Midtown Homes Inc is a nonprofit organization situated in San Rafael, California. It serves as the general partner for various limited partnerships, contributing to the provision of affordable housing. Specifically, it manages 130 units of low-income housing for families and the elderly in San Jose, California, and 42 units in Santa Clara, California. Additionally, Midtown Homes is associated with two limited liability companies, acting as the general partners for more housing projects in San Jose, providing 230 units for families and the elderly. The organization's primary mission is to carry out the charitable purposes of EAH Inc., a related California nonprofit public benefit corporation, aiming to contribute positively to the community by providing affordable housing options.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52% (One-Star out of Four Stars)
Midtown Homes Inc has received a One-Star rating from Charity Navigator, reflecting significant concerns in its accountability and financial practices. The low score of 52% raises red flags about the organization's governance, especially with the absence of independent board members and missing essential policies such as conflict of interest and whistleblower protections.
Despite these shortcomings, the organization does excel in specific areas, such as maintaining a high program expense ratio of 100%, indicating that all of its expenses are directed towards its programs. Furthermore, it has shown no material diversion of assets, which is a positive aspect of its financial oversight.
However, the lack of transparency is notable, as critical documents like the tax form and board meeting minutes are not easily accessible, evidenced by a low score in the documentation area. This lack of available information can hinder potential donors' and stakeholders' trust and confidence in the organization’s operations and overall legitimacy.
This AI summary has been generated from information found on Charity Navigator.
Is Midtown Homes Inc legitimate?
Midtown Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Midtown Homes 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
For more financial information, click here
What is the mission statement of Midtown Homes Inc?
Midtown Homes Inc, as a charitable organization, is dedicated to carrying out the charitable purposes of EAH Inc., a related California nonprofit public benefit corporation. Their primary function is to provide low-income housing for families and the elderly. This is accomplished through their involvement as a general partner in several limited partnerships, which collectively offer 195 units of affordable housing in San Jose and Santa Clara, California. The corporation also collaborates with limited liability companies, serving as the general partner for partnerships providing additional low-income housing units in San Jose.
Who is the CEO of Midtown Homes Inc?
Cathy Macy is the Secretary/Treas of Midtown Homes Inc.
What is the revenue of Midtown Homes Inc?
Midtown Homes Inc's revenue in 2022 was $997,689.
Who are the executives of Midtown Homes Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $591,118
- Other: $41,676
- Compensation: $0
- Related: $418,349
- Other: $27,052
- Compensation: $0
- Related: $372,185
- Other: $39,392
Where can I find the form 990 for Midtown Homes Inc?
Midtown Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Midtown Homes Inc
Midtown Homes Inc, as a charitable entity, is committed to fulfilling the charitable functions and carrying out the charitable purposes of EAH Inc., a related California nonprofit public benefit corporation. In accomplishing this mission, Midtown Homes Inc serves as a general partner for two limited partnerships that offer 130 units of low-income housing for families and the elderly in San Jose, California, and 42 units of low-income housing in Santa Clara, California. Additionally, Midtown Homes Inc is a member of two limited liability companies that serve as the general partners for two limited partnerships providing 230 units of low-income housing for families and the elderly in San Jose, California. By providing housing solutions for low-income families and the elderly, Midtown Homes Inc plays a crucial role in contributing to the well-being and stability of its community.
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Impact
July, 2024
Midtown Homes Inc serves as a crucial entity in providing low-income housing for families and the elderly in San Jose and Santa Clara, California. Through partnerships and collaborations, the organization has facilitated the availability of 402 units of affordable housing in these areas. This has had a significant impact on the local communities by addressing the pressing need for affordable housing options for vulnerable populations. The work of Midtown Homes Inc directly contributes to improving the quality of life for individuals and families in need of stable and safe housing options.
This information is meant to be a general summary of Midtown Homes 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: $1,228
- Program Service Revenue: $993,661
- Gross Receipts: $997,689
Assets and Liabilities:
- Total Assets: $108,308
- Total Liabilities: $25,161,114
- Net Assets: -$25,052,806
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ALLOCABLE SHARE PS RENTS
Revenue
$885,353
INCENTIVE MGMT FEES
Revenue
$40,800
PARTNERSHIP MGMT FEES
Revenue
$67,508
Organization Details
Founding Year
1995
Phone
(415) 258-1800Principal Officer
Cathy Macy
Main Address
22 Pelican Way, San Rafael, CA, 94901
NTEE Category
Code: L20 - Housing
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