Overview
What is Pasadena Interfaith Housing Foundation Inc?
Pasadena Interfaith Housing Foundation Inc, a Texas-based nonprofit corporation, was established with the goal of providing safe and adequate housing for eligible low-income individuals. The organization operates a 176-unit apartment community in Pasadena, Texas, named Pasadena Interfaith Manor. Governed by a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD), the project offers housing assistance payments contracts to ensure the facility's continuous operation. With this HUD contract, Pasadena Interfaith Housing Foundation Inc provides a secure living space for its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning a Two-Star out of Four Star rating.
Pasadena Interfaith Housing Foundation Inc has received a Two-Star rating from Charity Navigator, indicating significant room for improvement in its accountability and financial practices. While the organization shows strengths in areas such as having a fully independent board and a high program expense ratio of 87.92%, it faces challenges related to its financial liabilities, which exceed its assets. Additionally, the absence of essential policies like conflict of interest and whistleblower procedures raises concerns regarding governance.
User feedback from Great Nonprofits highlights the organization's positive impact on the community, specifically in providing subsidized housing for seniors with limited income. Reviewers appreciate the supportive environment fostered through various activities that promote resident engagement, suggesting a strong commitment to enhancing the quality of life for its residents. The call for volunteers to assist with activities emphasizes the community-oriented approach of the foundation.
However, despite the commendable efforts in service delivery, the financial sustainability and governance issues noted in the Charity Navigator report could pose long-term challenges for the organization. Addressing these limitations could enhance its credibility and effectiveness in further serving the community.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Pasadena Interfaith Housing Foundation Inc legitimate?
Pasadena Interfaith Housing Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pasadena Interfaith Housing Foundation 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.
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What is the mission statement of Pasadena Interfaith Housing Foundation Inc?
The Pasadena Interfaith Housing Foundation Inc., as a non-profit organization, was established with the primary objective of owning and managing a 176-unit apartment community. This community, known as Pasadena Interfaith Manor, is governed by a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD). Through a Housing Assistance Payments Contract with HUD, the foundation provides a safe and adequate housing facility for eligible low-income tenants. The mission of Pasadena Interfaith Housing Foundation Inc. is centered around providing affordable housing solutions, ensuring that individuals in need have a place to call home.
Who is the CEO of Pasadena Interfaith Housing Foundation Inc?
Michael Pelzman is the Board Member of Pasadena Interfaith Housing Foundation Inc.
What is the revenue of Pasadena Interfaith Housing Foundation Inc?
Pasadena Interfaith Housing Foundation Inc's revenue in 2023 was $1,922,409.
Who are the executives of Pasadena Interfaith Housing Foundation Inc and what are their salaries?
Here are 11 key members and their salaries:
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Where can I find the form 990 for Pasadena Interfaith Housing Foundation Inc?
Pasadena Interfaith Housing Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Pasadena Interfaith Housing Foundation Inc
Pasadena Interfaith Housing Foundation Inc was established with a mission to provide safe and adequate housing facilities to eligible low-income tenants. This nonprofit corporation owns and operates a 176-unit apartment community, known as Pasadena Interfaith Manor. The organization has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD) and operates under a Housing Assistance Payments Contract with HUD. This contract enables Pasadena Interfaith Housing Foundation Inc to offer a secure living space to those who fall under the category of low-income tenants. The mission of this nonprofit organization is primarily focused on ensuring that individuals in need have access to decent housing, thereby contributing to their overall well-being.
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Impact
July, 2024
Pasadena Interfaith Housing Foundation Inc's impact is significant in providing a safe and adequate housing facility to eligible low-income tenants in Pasadena, Texas. Through owning and operating a 176-unit apartment community known as Pasadena Interfaith Manor, the foundation ensures that individuals in need have access to affordable housing. This initiative not only addresses the housing needs of low-income residents but also contributes to creating a stable and supportive community environment. By partnering with the U.S. Department of Housing and Urban Development (HUD) and implementing a Housing Assistance Payments contract, Pasadena Interfaith Housing Foundation Inc plays a vital role in supporting the well-being of vulnerable individuals and families in the area.
This information is meant to be a general summary of Pasadena Interfaith Housing Foundation 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: $1,176
- Program Service Revenue: $600,477
- Gross Receipts: $1,922,409
Assets and Liabilities:
- Total Assets: $2,776,358
- Total Liabilities: $6,025,747
- Net Assets: -$3,249,389
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$600,477
Organization Details
Founding Year
1979
Phone
(713) 475-2880Principal Officer
Michael Pelzman
Main Address
2112 EASTHAVEN, PASADENA, TX, 77506
NTEE Category
Code: L210 - Housing
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