Overview
What is Casa Mia Senior Apartments Inc?
Casa Mia Senior Apartments Inc is a nonprofit organization that was established to manage and operate a 64-unit apartment complex in Phoenix, Arizona, named Casa Mia Apartments. This endeavor aligns with Section 202 of the National Affordable Housing Act. The assets and liabilities of the apartment community were transferred from Casa Mia Mutual Housing Association, Inc. to the corporation on August 2, 2011, with the approval of the U.S. Department of Housing and Urban Development (HUD) on June 23, 2011. The corporation now oversees the apartment community under the standard regulatory agreements with the Federal Housing Administration section of HUD. The main purpose of Casa Mia Senior Apartments Inc is to provide affordable housing options in Phoenix, Arizona.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating.
Casa Mia Senior Apartments Inc has achieved a rating of 79%, indicating a solid level of accountability and finance management. The organization's overall score is derived solely from its Accountability & Finance beacon score, reflecting its commitment to transparency and responsible stewardship of resources, particularly in the most recent fiscal year (FY2023).
The charity demonstrates strong governance practices, with 57% of its board members being independent and a well-structured audit and oversight committee. Additionally, the organization has clear policies in place for conflict of interest, whistleblower protections, and document retention, which all received maximum points. Furthermore, a high program expense ratio of 88.99% signifies that a significant portion of funds is directed towards its programs and services.
While the organization shows a commendable commitment to financial accountability, the reliance on a single beacon score could limit a more comprehensive evaluation of its overall impact and effectiveness beyond financial metrics. Nonetheless, the strengths in governance and financial management position Casa Mia Senior Apartments Inc favorably as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Casa Mia Senior Apartments Inc legitimate?
Casa Mia Senior Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Casa Mia Senior 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: $111,034
For more financial information, click here
What is the mission statement of Casa Mia Senior Apartments Inc?
Casa Mia Senior Apartments Inc is an organization with a specific purpose: to manage a 64-unit apartment community in accordance with the National Affordable Housing Act. The assets and liabilities of this community were transferred to the corporation on August 2, 2011, with approval from HUD on June 23, 2011. The corporation has entered into regulatory agreements with the Federal Housing Administration section of HUD, governing the operation of the community. In simpler terms, Casa Mia Senior Apartments Inc is dedicated to managing an affordable housing project, adhering to national regulations, and ensuring smooth operation in collaboration with the Federal Housing Administration.
Who is the CEO of Casa Mia Senior Apartments Inc?
David Adame is the Chairman of Casa Mia Senior Apartments Inc.
What is the revenue of Casa Mia Senior Apartments Inc?
Casa Mia Senior Apartments Inc's revenue in 2023 was $526,368.
Who are the executives of Casa Mia Senior Apartments Inc and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $809,241
- Other: $20,934
- Compensation: $0
- Related: $374,101
- Other: $27,532
- Compensation: $0
- Related: $404,377
- Other: $22,507
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Casa Mia Senior Apartments Inc?
Casa Mia Senior Apartments Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Casa Mia Senior Apartments Inc
Casa Mia Senior Apartments Inc is an organization dedicated to owning and operating a 64-unit apartment community, known as Casa Mia Apartments. This endeavor is carried out in accordance with Section 202 of the National Affordable Housing Act, which has been amended over time. The transition of the assets and liabilities of the apartment community from Casa Mia Mutual Housing Association, Inc. to Casa Mia Senior Apartments Inc occurred on August 2, 2011, and was approved by the Federal Housing Administration (FHA) section of HUD on June 23, 2011. Following the transfer, Casa Mia Senior Apartments Inc entered into standard regulatory agreements with the FHA, governance of the community's operation.
In essence, Casa Mia Senior Apartments Inc serves as the custodian of affordable housing for senior residents, ensuring compliance with regulations set forth by the National Affordable Housing Act and overseen by the FHA. By undertaking this mission, the organization contributes to the well-being of seniors in need of housing, providing them with a secure and comfortable living environment.
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Impact
July, 2024
Casa Mia Senior Apartments Inc's impact lies in providing affordable housing for seniors in Phoenix, Arizona. By owning and operating a 64-unit apartment community known as Casa Mia Apartments, the organization ensures that elderly individuals have a safe and comfortable place to call home. This initiative aligns with the mission of Casa Mia Senior Apartments Inc to offer housing options in accordance with the National Affordable Housing Act. The organization's dedication to serving the senior community through affordable housing reflects its commitment to addressing housing needs for this demographic in the region.
This information is meant to be a general summary of Casa Mia Senior 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.
- Program Service Revenue: $265,972
- Gross Receipts: $526,368
Assets and Liabilities:
- Total Assets: $3,363,950
- Total Liabilities: $6,087,933
- Net Assets: -$2,723,983
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$243,435
FORGIVENESS OF DEBT
Revenue
$22,537
Organization Details
Founding Year
1987
Phone
(602) 252-0482Principal Officer
David Adame
Main Address
1112 EAST BUCKEYE ROAD, PHOENIX, AZ, 85034
NTEE Category
Code: L99 - Housing
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