Overview
What is Levi Towers Inc?
Levi Towers Inc is a nonprofit organization situated in Hot Springs, Arkansas. Their primary mission is to provide affordable housing for the elderly, adhering to the guidelines set by the U.S. Department of Housing and Urban Development (HUD) under Section 8. This program enables Levi Towers Inc to offer low-income housing options to their beneficiaries, ensuring they maintain a comfortable living standard.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star Rating, 69%)
Levi Towers Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in its overall effectiveness and transparency. While the organization scores relatively well in areas such as having a fully independent board and no material diversion of assets, there are significant gaps in governance policies, notably the absence of a conflict of interest policy, whistleblower policy, and document retention policy.
Financially, Levi Towers Inc demonstrates a solid program expense ratio of 77.80%, showing a commitment to utilizing funds towards its mission. However, the liabilities to assets ratio is concerning at 106.03%, which suggests potential financial instability. This high ratio raises questions about the organization's ability to meet its obligations without incurring further debt.
Overall, while there are strengths in governance structure and program spending, the notable deficiencies in essential policies and the financial health of the organization highlight critical areas for improvement. Addressing these issues could enhance their accountability and overall effectiveness in serving their mission.
This AI summary has been generated from information found on Charity Navigator.
Is Levi Towers Inc legitimate?
Levi Towers Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Levi Towers 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: $207,533
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What is the mission statement of Levi Towers Inc?
Levi Towers Inc is committed to providing low-income housing, specifically for the elderly, under the HUD Section 8 program. The organization's mission revolves around offering affordable living accommodations to individuals who may otherwise struggle to secure such housing. By doing so, Levi Towers Inc contributes to the overall well-being of its residents, ensuring they have a safe and comfortable living environment. The organization's primary focus is on catering to the needs of the elderly, providing them with a place to call home.
Who is the CEO of Levi Towers Inc?
Gary Lax is the President of Levi Towers Inc.
What is the revenue of Levi Towers Inc?
Levi Towers Inc's revenue in 2022 was $1,243,957.
Who are the executives of Levi Towers Inc and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for Levi Towers Inc?
Levi Towers Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Levi Towers Inc
Levi Towers Inc, as a nonprofit organization, is dedicated to providing low-income housing to individuals, with a special focus on the elderly. Under the HUD Section 8 program, this organization offers shelter and housing solutions to individuals who may be struggling financially. By doing so, Levi Towers Inc contributes to enhancing the living conditions of its residents, providing them with a safe and secure environment to call home. The organization's mission is centered around ensuring that individuals in need have access to affordable housing, enabling them to maintain a decent standard of living.
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Impact
July, 2024
Levi Towers Inc's impact is significant in providing low-income housing under HUD Section 8 in Hot Springs, Arkansas. Their focus on offering affordable housing to the elderly population is crucial in supporting individuals who may otherwise struggle to find suitable accommodations. Their mission to provide this essential service not only addresses a pressing societal need but also contributes to the well-being and stability of vulnerable members of the community. Through their efforts, Levi Towers Inc plays a vital role in ensuring access to safe and affordable housing for those in need.
This information is meant to be a general summary of Levi Towers 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: $536
- Program Service Revenue: $359,104
- Gross Receipts: $1,243,957
Assets and Liabilities:
- Total Assets: $3,014,794
- Total Liabilities: $3,291,303
- Net Assets: -$276,509
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE - TENANT
Revenue
$359,104
Organization Details
Phone
(501) 623-8419Principal Officer
Gary Lax
Main Address
240 PROSPECT AVENUE, HOT SPRINGS, AR, 71901
NTEE Category
Code: L210 - Housing
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