Overview
What is Coronel Place Inc?
Coronel Place Inc is a California-based nonprofit organization, established as a public benefit corporation, with a mission to provide affordable housing for individuals of low to moderate income. Their primary activity involves the operation and maintenance of a 20-unit apartment complex situated in Santa Barbara, California. The organization played a significant role in redeveloping this complex, and approximately 29% of the rental income is subsidized by the Housing Authority. Coronel Place Inc is committed to contributing positively to the local community by offering housing options for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Stars)
Coronel Place Inc has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and finance management within the organization. The rating reflects a comprehensive assessment based on a single beacon score that emphasizes the charity's adherence to transparency and responsible financial practices. The organization has an exemplary independent board with 100% of its members being independent, which contributes positively to its governance structure.
The charity showcases strong financial management, with an impressive program expense ratio of 96.33%, highlighting that the vast majority of its expenditures are directed towards its programs rather than administrative costs. Moreover, the organization has effectively documented its policies regarding conflict of interest and whistleblower protections, which are essential for maintaining accountability and trust among stakeholders.
However, while the overall financial health appears robust, Coronel Place Inc's liabilities to assets ratio of 59% indicates that the organization has some debt relative to its assets. This aspect may warrant further scrutiny, although it does not overshadow the strong performance in other areas. Overall, Coronel Place Inc demonstrates a commendable commitment to responsible governance and programmatic focus.
This AI summary has been generated from information found on Charity Navigator.
Is Coronel Place Inc legitimate?
Coronel Place Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Coronel Place 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: $0
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What is the mission statement of Coronel Place Inc?
Coronel Place Inc, as a non-profit organization, is dedicated to serving individuals of low to moderate income by redeveloping a 20-unit apartment complex. A significant portion of the rental income from tenants is subsidized, with approximately 29% supported by the Housing Authority. The organization's primary activity involves managing and maintaining this apartment complex to provide affordable housing options. While the mission statement is not explicitly stated, the organization's actions suggest a commitment to contributing to housing equity and providing affordable living spaces for those in need.
Who is the CEO of Coronel Place Inc?
Cindy Young is the Executive Director of Coronel Place Inc.
What is the revenue of Coronel Place Inc?
Coronel Place Inc's revenue in 2022 was $479,054.
Who are the executives of Coronel Place Inc and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Coronel Place Inc?
Coronel Place Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Coronel Place Inc
Coronel Place Inc, a California non-profit public benefit corporation, is dedicated to redeveloping living spaces for individuals of low to moderate income. Their mission is evident in the transformation of a 20-unit apartment complex located in an unspecified area. Approximately one-quarter of the rental income generated from tenants is subsidized by the Housing Authority, indicating a commitment to making affordable housing accessible to those who need it most. In essence, Coronel Place Inc strives to provide an operational and well-maintained living environment for this specific demographic, thereby contributing to the well-being and stability of its residents.
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Impact
July, 2024
Coronel Place Inc has a significant impact on the community in Santa Barbara, California by providing affordable housing for individuals of low to moderate income. The organization's redevelopment of a 20-unit apartment complex plays a crucial role in addressing the housing needs of vulnerable populations in the area. By offering subsidized rental options, Coronel Place Inc helps ensure that more individuals have access to safe and stable housing, ultimately contributing to the overall well-being and quality of life for those it serves. This impact is vital in promoting economic stability and social equity within the community.
This information is meant to be a general summary of Coronel Place 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: $748
- Program Service Revenue: $456,135
- Gross Receipts: $479,054
Assets and Liabilities:
- Total Assets: $1,318,664
- Total Liabilities: $778,018
- Net Assets: $540,646
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LAUNDRY ETC. INCOME
Revenue
$8,045
RENTAL INCOME
Revenue
$448,090
Organization Details
Founding Year
1983
Phone
(805) 963-9644Principal Officer
Cindy Young
Main Address
11 EAST HALEY STREET, SANTA BARBARA, CA, 93101
NTEE Category
Code: L20Z - Housing
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