Overview
What is Golden Terrace Village Iv Inc?
Golden Terrace Village Iv Inc is a nonprofit organization situated in Snyder, Texas. Their primary mission is to provide affordable housing for elderly individuals, overseeing a 30-unit apartment project under the regulations of the U.S. Department of HUD. With a workforce of three dedicated individuals, they aim to ensure that elderly residents in their community have access to suitable living conditions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1-Star out of Four Stars (58%)
Golden Terrace Village IV Inc has received a low rating of 58% from Charity Navigator, resulting in a One-Star designation. This rating is primarily based on the charity's Accountability & Finance score, which reflects significant areas of concern, particularly regarding the management of its financial practices.
While the organization has demonstrated strengths such as a majority independent board and a high program expense ratio of 95.84%, it suffers from critical deficiencies in its financial transparency and policy documentation. Specifically, it has not provided essential documents, including its website link on tax forms, a conflict of interest policy, and a whistleblower policy, which are vital for accountability and trust.
The liabilities to assets ratio is alarmingly high at 207.19%, indicating potential financial instability. These factors contribute significantly to the charity's overall low score, emphasizing the need for improved governance practices and transparency to enhance donor confidence and operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Golden Terrace Village Iv Inc legitimate?
Golden Terrace Village Iv Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Golden Terrace Village Iv 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: $37,622
For more financial information, click here
What is the mission statement of Golden Terrace Village Iv Inc?
Golden Terrace Village Iv Inc is committed to providing low-income housing for elderly individuals. They operate a 30-unit apartment project, following regulations set by the U.S. Department of HUD. The organization's primary goal is to ensure affordable living accommodations for this specific demographic, thereby contributing to their well-being and comfort. By offering such housing, Golden Terrace Village Iv Inc aims to support the needs of the elderly, enhancing their quality of life.
Who is the CEO of Golden Terrace Village Iv Inc?
Perry Westmoreland is the Director of Golden Terrace Village Iv Inc.
What is the revenue of Golden Terrace Village Iv Inc?
Golden Terrace Village Iv Inc's revenue in 2022 was $106,653.
Who are the executives of Golden Terrace Village Iv Inc and what are their salaries?
The average compensation at Golden Terrace Village Iv Inc during 2022 was $12,541. There are 3 employees at Golden Terrace Village Iv Inc.
Here are 6 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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Where can I find the form 990 for Golden Terrace Village Iv Inc?
Golden Terrace Village Iv Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Golden Terrace Village Iv Inc
Golden Terrace Village IV Inc is committed to providing low-income housing for elderly individuals. Specifically, they manage a 30-unit apartment project, serving this particular demographic in an unspecified location. Regulated by the U.S. Department of HUD, the organization ensures that the elderly residents can call this housing project their home. By offering low-income housing, Golden Terrace Village IV Inc contributes to the well-being of elderly individuals, providing them with a safe and secure living environment.
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Impact
October, 2024
Golden Terrace Village IV Inc plays a crucial role in enhancing the quality of life for elderly individuals in Snyder, Texas, by providing affordable housing options tailored to their needs. Through its 30-unit apartment project, the organization addresses the significant challenge of housing accessibility for low-income seniors, ensuring they have a safe and stable living environment. By complying with regulations set forth by the U.S. Department of HUD, Golden Terrace Village IV Inc not only contributes to the local economy but also fosters a supportive community where elderly residents can thrive. This project alleviates financial burdens, allowing residents to allocate resources to healthcare, food, and other essential services, significantly improving their overall well-being. Additionally, the presence of such housing initiatives promotes a sense of community, encouraging social interaction among residents and reducing the isolation often faced by the elderly.
This information is meant to be a general summary of Golden Terrace Village Iv 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: $77
- Program Service Revenue: $106,576
- Gross Receipts: $106,653
Assets and Liabilities:
- Total Assets: $818,350
- Total Liabilities: $1,614,325
- Net Assets: -$795,975
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$106,576
Organization Details
Founding Year
2000
Phone
(325) 573-1416Principal Officer
Perry Westmoreland
Main Address
1607 52ND STREET, SNYDER, TX, 79549
NTEE Category
Code: L22 - Housing
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