Overview
What is Long Beach Senior Citizen Housing Corporation?
Long Beach Senior Citizen Housing Corporation is a nonprofit organization established to construct, own, and manage a 66-unit senior housing project in Long Beach, California. Operating under Section 202 of the National Housing Act, the corporation has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development, governing rental charges and operating methods for the project. Its mission is to provide elderly individuals with comfortable and affordable housing, thereby contributing to the well-being of the senior community in the Long Beach area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star Rating)
Long Beach Senior Citizen Housing Corporation has received a commendable three-star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The overall score is driven entirely by its impressive accountability metrics, where it earned an 88% score in fiscal year 2023. This indicates a solid foundation of financial practices and governance, critical for donor trust and organizational sustainability.
One of the standout strengths of the organization is its governance structure, which features 100% independent board members. This ensures that decisions made are in the best interest of the nonprofit's mission without potential conflicts of interest. Additionally, the organization has well-structured policies in place such as a whistleblower policy and document retention protocols, contributing to its transparent operations.
While the organization shows strengths in various areas, there are still opportunities for improvement. Notably, the liabilities to assets ratio stands at 58.60%, which suggests that while the nonprofit is managing its finances well, there may be some room for improvement in asset management to ensure long-term sustainability. Overall, the Long Beach Senior Citizen Housing Corporation is performing well in terms of financial accountability and governance.
This AI summary has been generated from information found on Charity Navigator.
Is Long Beach Senior Citizen Housing Corporation legitimate?
Long Beach Senior Citizen Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Long Beach Senior Citizen Housing 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.
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What is the mission statement of Long Beach Senior Citizen Housing Corporation?
The Long Beach Senior Citizen Housing Corporation was established with the goal of constructing, owning, and managing a 66-unit rental housing project primarily for the elderly. Located in Long Beach, California, this project is recognized as Long Beach Senior Housing. Operating under Section 202 of the National Housing Act, the corporation has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development. This agreement controls the operation of the project, setting guidelines for rental charges and operating methods. Essentially, the mission of Long Beach Senior Citizen Housing Corporation is to provide affordable housing for the elderly community, governed by federal regulations.
Who is the CEO of Long Beach Senior Citizen Housing Corporation?
Douglas Cope is the Chair of Long Beach Senior Citizen Housing Corporation.
What is the revenue of Long Beach Senior Citizen Housing Corporation?
Long Beach Senior Citizen Housing Corporation's revenue in 2023 was $620,959.
Who are the executives of Long Beach Senior Citizen Housing Corporation and what are their salaries?
Here are 15 key members and their salaries:
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- Other: $21,323
Where can I find the form 990 for Long Beach Senior Citizen Housing Corporation?
Long Beach Senior Citizen Housing Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Long Beach Senior Citizen Housing Corporation
The Long Beach Senior Citizen Housing Corporation, established under Section 202 of the National Housing Act, was initiated with the mission to construct, own, and operate a 66-unit rental housing project specifically designed for the elderly. Situated in Long Beach, California, this project is named Long Beach Senior Housing. The corporation operates in accordance with a regulatory agreement with the U.S. Department of Housing and Urban Development, which governs the project's operational methods, including rental charges. Essentially, the Long Beach Senior Citizen Housing Corporation's mission is to provide elderly individuals with a secure and comfortable living environment, regulating the project's operations and rental fees to ensure affordability and accessibility for this demographic.
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Impact
July, 2024
Long Beach Senior Citizen Housing Corporation has a significant impact on the elderly community in Long Beach, California. By providing a 66-unit rental housing project specifically for seniors, the organization is addressing the crucial need for affordable and safe housing for this demographic. Through its operation under Section 202 of the National Housing Act and its regulatory agreement with the U.S. Department of Housing and Urban Development, Long Beach Senior Citizen Housing Corporation ensures that the elderly residents have access to secure and well-maintained housing.
Furthermore, by offering rental charges that are structured to be affordable for seniors, the organization helps to alleviate financial burdens and provide a supportive living environment for older adults in the community. Overall, Long Beach Senior Citizen Housing Corporation's work contributes to enhancing the quality of life for elderly individuals by meeting their housing needs and promoting a sense of community and security in their living arrangements.
This information is meant to be a general summary of Long Beach Senior Citizen Housing 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 2023.
- Investment Income: $855
- Program Service Revenue: $275,418
- Gross Receipts: $620,959
Assets and Liabilities:
- Total Assets: $11,808,016
- Total Liabilities: $6,919,815
- Net Assets: $4,888,201
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$275,418
Organization Details
Founding Year
2006
Phone
(310) 475-6083Principal Officer
Douglas Cope
Main Address
10991 W PICO BLVD, LOS ANGELES, CA, 90064
NTEE Category
Code: L22 - Housing
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