Overview
What is Floral Gardens Apartments Inc?
Floral Gardens Apartments Inc is a housing corporation situated in Selma, California. Their primary focus is to offer affordable housing, serving a total of 56 units under Section 236 of the National Housing Act. Regulated by the HUD, the rental charges and operational methods of this property are strictly adhered to. Floral Gardens Apartments Inc's mission is to provide a home for individuals with limited income, ensuring that everyone has access to a comfortable living space.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (67%)
Floral Gardens Apartments Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating that there are areas needing improvement within the organization. The overall score of 67% suggests that while some financial practices are solid, there are clear deficiencies in governance and transparency, particularly in the areas of board independence and conflict of interest policies.
The organization shows strength in its program expense ratio, which stands at an impressive 89.77%, indicating a substantial portion of funds is directed towards its programs. However, significant weaknesses are evident, as the organization scores poorly on accountability metrics, including a lack of independent board members and essential policies related to conflicts of interest and whistleblower protections, which could undermine trust and oversight.
Additionally, the nonprofit does not maintain a visible online presence for essential documents such as tax forms, which is vital for transparency. These limitations highlight the need for Floral Gardens Apartments Inc to enhance its governance practices and improve public accountability to better serve its mission and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Floral Gardens Apartments Inc legitimate?
Floral Gardens Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Floral Gardens 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: $142,272
For more financial information, click here
What is the mission statement of Floral Gardens Apartments Inc?
Floral Gardens Apartments Inc, as a corporation, is committed to providing affordable housing. Specifically, they offer 56 units under the section 236 of the National Housing Act. Their mission is regulated by HUD, ensuring that rent charges and operating methods adhere to certain standards, enabling them to continue offering affordable housing options. In essence, Floral Gardens Apartments Inc is dedicated to making housing accessible for individuals with limited income.
Who is the CEO of Floral Gardens Apartments Inc?
Robert Schraeger is the President of Floral Gardens Apartments Inc.
What is the revenue of Floral Gardens Apartments Inc?
Floral Gardens Apartments Inc's revenue in 2023 was $582,028.
Who are the executives of Floral Gardens Apartments Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $286,450
- Other: $24,462
- Compensation: $0
- Related: $142,464
- Other: $21,019
- Compensation: $0
- Related: $108,072
- Other: $17,770
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Floral Gardens Apartments Inc?
Floral Gardens Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Floral Gardens Apartments Inc
Floral Gardens Apartments Inc, as a mission-driven organization, is committed to providing low-income housing. With a focus on affordability, this corporation operates under Section 236 of the National Housing Act, offering 56 units in Selma, California. The primary objective of Floral Gardens Apartments Inc is to make housing accessible to individuals with limited financial resources. This mission is upheld by HUD's regulation of the property, ensuring that rent charges and operating methods are maintained at affordable levels. The corporation's commitment to affordable housing plays an essential role in addressing housing disparities and providing essential housing solutions for those in need.
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Impact
July, 2024
Floral Gardens Apartments Inc's impact lies in providing essential low-income housing to individuals and families in need. By offering 56 units of affordable housing in Selma, California, Floral Gardens Apartments plays a crucial role in addressing the housing disparities faced by low-income residents. The organization's mission to provide affordable housing is reflected in its dedication to ensuring that the property is regulated by HUD, guaranteeing reasonable rent charges and operating practices. Floral Gardens Apartments Inc's commitment to providing a safe and stable living environment for those in need contributes significantly to the community's well-being and the overall efforts to combat homelessness and housing insecurity.
This information is meant to be a general summary of Floral Gardens 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 2023.
- Investment Income: $274
- Program Service Revenue: $425,027
- Gross Receipts: $582,028
Assets and Liabilities:
- Total Assets: $1,883,752
- Total Liabilities: $250,156
- Net Assets: $1,633,596
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LAUNDRY & VENDING
Revenue
$7,453
OTHER INCOME
Revenue
$645
TENANT CHARGES
Revenue
$4,076
TENANT RENTS
Revenue
$412,853
Organization Details
Founding Year
1995
Phone
(415) 258-1800Principal Officer
Robert Schraeger
Main Address
22 Pelican Way, San Rafael, CA, 94901
NTEE Category
Code: L21 - Housing
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