Overview
What is Terrace Gardens Inc?
Terrace Gardens Inc is a nonprofit organization based in Milpitas, California, with a focus on providing housing solutions. Specifically, they manage a residential complex consisting of 148 rental units, three guest rooms, and two staff units. This complex is tailored to the needs of elderly individuals, serving a total of 186 people annually. Their primary mission is the development and management of low- and moderate-income housing in California, contributing to the well-being of the community by offering affordable living options.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% - Four-Star out of Four Star Rating
Terrace Gardens Inc has achieved an impressive Four-Star rating from Charity Navigator, indicating a strong commitment to accountability and financial health. The organization scored a perfect 100% in various accountability metrics, including having an entirely independent board and robust financial oversight practices. This high rating reflects the charity's effective management and transparency in its operations.
The organization demonstrates a commendable program expense ratio of 95.62%, which suggests that a significant majority of its resources are directed towards its programs rather than administrative costs. Additionally, the charity has implemented essential policies such as conflict of interest and whistleblower protections, further establishing its dedication to ethical governance and operational integrity.
Overall, Terrace Gardens Inc's rating signifies its strong financial practices and governance, making it a reliable choice for donors looking to support a nonprofit that prioritizes accountability. However, while the score highlights exceptional performance in financial management, potential donors may want to explore the specific programs and outcomes associated with their contributions for a comprehensive understanding of the impact being made.
This AI summary has been generated from information found on Charity Navigator.
Is Terrace Gardens Inc legitimate?
Terrace Gardens Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Terrace Gardens 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: $471,249
For more financial information, click here
What is the mission statement of Terrace Gardens Inc?
Terrace Gardens Inc is organized with a public purpose to develop and manage low-income and moderate-income housing in California. Their mission encompasses the creation and management of affordable living spaces for individuals within this income bracket. The corporation actively works towards this goal by overseeing the operations of a residential complex, which includes 148 rental units, guest rooms, and staff units. This complex is specifically designed to cater to the needs of the elderly, located in the city of Milpitas. Throughout the year, the organization serves a total of 186 individuals, demonstrating its commitment to providing housing solutions for a significant number of people.
Who is the CEO of Terrace Gardens Inc?
Jill Kauffman is the President of Terrace Gardens Inc.
What is the revenue of Terrace Gardens Inc?
Terrace Gardens Inc's revenue in 2022 was $2,340,403.
Who are the executives of Terrace Gardens Inc and what are their salaries?
There 6 volunteers at Terrace Gardens Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Terrace Gardens Inc?
Terrace Gardens Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Terrace Gardens Inc
Terrace Gardens Inc, a nonprofit organization, is dedicated to serving a public purpose. Its primary mission lies in the development and management of low and moderate income housing within the state of California. This mission is instrumental in providing a much-needed solution for individuals and families who may not have access to adequate housing options.
By pursuing this mission, Terrace Gardens Inc contributes to the betterment of its community by addressing a fundamental human need: a place to call home. The organization goes beyond just providing housing, as it also manages the operations of a residential complex. This complex, consisting of 148 rental units, 3 guest rooms, and 2 staff units, caters specifically to the needs of elderly persons. The dedication to this demographic further underscores Terrace Gardens Inc's commitment to supporting vulnerable populations.
During the course of a year, this organization serves a total of 186 individuals, ensuring they have a safe and comfortable living environment. By fulfilling its mission, Terrace Gardens Inc plays a crucial role in enhancing the quality of life for those in need, contributing to a more equitable and inclusive society.
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Impact
July, 2024
Terrace Gardens Inc's impact lies in providing essential housing services to low and moderate-income individuals in the state of California. Specifically, the organization develops and manages a residential complex in Milpitas, serving the needs of elderly persons through 148 rental units, 3 guest rooms, and 2 staff units. In the past year, Terrace Gardens Inc has served a total of 186 individuals, contributing significantly to addressing the housing needs of vulnerable populations in the community.
This information is meant to be a general summary of Terrace Gardens 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: $9,333
- Program Service Revenue: $2,304,169
- Gross Receipts: $2,340,403
Assets and Liabilities:
- Total Assets: $10,437,260
- Total Liabilities: $430,419
- Net Assets: $10,006,841
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LAUNDRY & VENDING INCO
Revenue
$1,685,663
RENT INCOME
Revenue
$606,327
FOOD SERVICES
Revenue
$8,344
OTHER TENANTS SERVICES
Revenue
$3,835
Organization Details
Founding Year
1986
Phone
(831) 438-5725Principal Officer
Jill Kauffman
Main Address
186 BERESFORD COURT, MILPITAS, CA, 95035
NTEE Category
Code: L22 - Housing
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