Overview
What is Germantown Home Section 202 Corporation?
Germantown Home Section 202 Corporation is a nonprofit organization situated in Philadelphia, Pennsylvania, specializing in senior housing and retirement homes. Their primary mission, as outlined by the U.S. Department of Housing and Urban Development (HUD), is to provide suitable living accommodations for the elderly, under the HUD Section 202 program. This initiative aims to offer elderly residents a secure and comfortable living environment, catering to their unique needs. The corporation's work is dedicated to enhancing the quality of life for older adults in Philadelphia, PA.
Official website here: www.newcourtland.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating.
Germantown Home Section 202 Corporation has received a solid rating of 88%, which reflects a strong performance in Accountability and Finance. This rating is derived solely from their accountability practices, indicating a strong commitment to financial transparency and responsible management. Their score indicates effective oversight of their financial statements and a robust whistleblower policy, showcasing their dedication to ethical governance.
The organization scores particularly well in areas such as liabilities to assets ratio and program expense ratio, with 42.38% and 79.91% respectively. This suggests that a significant portion of their expenditures is directed towards fulfilling their mission rather than administrative costs. However, it is noteworthy that they have not achieved a higher score due to the absence of independent board members, which may limit diversity of thought and governance practices within the board.
Overall, while Germantown Home Section 202 Corporation demonstrates strong financial accountability, enhancing board independence could further strengthen their governance and overall effectiveness in serving their community.
This AI summary has been generated from information found on Charity Navigator.
Is Germantown Home Section 202 Corporation legitimate?
Germantown Home Section 202 Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Germantown Home Section 202 Corporation 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:
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Other Salaries and Wages: $104,641
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Official website here: www.newcourtland.org
What is the mission statement of Germantown Home Section 202 Corporation?
The Germantown Home Section 202 Corporation is dedicated to providing housing for the elderly, as outlined by the U.S. Department of Housing and Urban Development's Section 202 program. Their mission is to offer a suitable living environment for senior citizens, aiming to enhance their quality of life in a supportive and comfortable setting. The corporation strives to meet the unique needs of elderly residents, ensuring their well-being and independence in their later years.
Official website here: www.newcourtland.org
Who is the CEO of Germantown Home Section 202 Corporation?
Michael P Demarco is the Principal Officer of Germantown Home Section 202 Corporation.
Official website here: www.newcourtland.org
What is the revenue of Germantown Home Section 202 Corporation?
Germantown Home Section 202 Corporation's revenue in 2022 was $622,510.
Official website here: www.newcourtland.org
Who are the executives of Germantown Home Section 202 Corporation and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.newcourtland.org
Where can I find the form 990 for Germantown Home Section 202 Corporation?
Germantown Home Section 202 Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newcourtland.org
Learn more at the official website: www.newcourtland.org
Mission Statement of Germantown Home Section 202 Corporation
Germantown Home Section 202 Corporation, a retirement home or senior housing program, is dedicated to providing housing for the elderly. Their primary mission, as outlined by HUD Sec. 202, is to offer a living environment that caters to the needs of senior citizens. This mission is geared towards ensuring that elderly individuals have access to comfortable and suitable living arrangements, thereby enhancing their quality of life. The corporation's mission aligns with the goal of providing elderly individuals with a secure and supportive environment, thereby fostering their independence and overall well-being.
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Impact
July, 2024
Germantown Home Section 202 Corporation's impact is significant in providing HUD Sec. 202 housing for the elderly in Philadelphia, PA. Through their retirement home and senior housing program, they fulfill their mission of offering a safe and comfortable living environment for the elderly. This organization plays a crucial role in addressing the housing needs of the aging population in the community, ensuring they have access to affordable and appropriate housing options. By focusing on HUD Sec. 202 Housing for the elderly, Germantown Home Section 202 Corporation positively impacts the quality of life for seniors in Philadelphia, supporting their well-being and independence.
This information is meant to be a general summary of Germantown Home Section 202 Corporation. 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: $625
- Program Service Revenue: $620,971
- Gross Receipts: $622,510
Assets and Liabilities:
- Total Assets: $5,157,981
- Total Liabilities: $2,164,180
- Net Assets: $2,993,801
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HUD Apartment Subsidy
Revenue
$338,317
Tenant Rent
Revenue
$282,654
Organization Details
Founding Year
2001
Phone
(215) 951-4432Principal Officer
Michael P Demarco
Main Address
6970 Germantown Avenue, Philadelphia, PA, 19119
Website
www.newcourtland.orgNTEE Category
Code: L22 - Housing
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