Overview
What is South Bay Improvement Association?
South Bay Improvement Association is a nonprofit organization situated in San Luis Obispo, California. Their primary focus is to offer affordable housing and essential social services to low-income households, specifically targeting seniors and individuals with disabilities. They manage two housing complexes, Sea Breeze Apartments and South Bay Apartments, offering a total of 104 rental units to cater to this community's needs. The organization's mission revolves around providing affordable housing, aiming to enhance the quality of life for its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Overall Score: 64%, earning a Two-Star out of Four Star rating
The South Bay Improvement Association has received a rating of "Needs Improvement" from Charity Navigator, reflecting an overall score of 64%. This rating indicates that while the organization has strengths in specific areas such as having a fully independent board and high program expense ratio of 88.80%, it lacks in financial transparency, evidenced by a failure to provide available financial statements.
The organization has demonstrated good governance practices, including the presence of a conflict of interest policy and a whistleblower policy, both receiving full points. However, the absence of financial statements significantly impacts its accountability and finance score. Additionally, the liabilities to assets ratio is concerning at 99.79%, suggesting that liabilities nearly equal the total assets, which may raise red flags about financial health.
Despite its strong commitment to program expenses, the missing website link on tax forms and inadequate financial documentation hinder the South Bay Improvement Association's overall evaluation. Future efforts to enhance transparency and provide accessible financial information could improve its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is South Bay Improvement Association legitimate?
South Bay Improvement Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. South Bay Improvement Association 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
For more financial information, click here
What is the mission statement of South Bay Improvement Association?
The South Bay Improvement Association's mission is centered around providing affordable housing. Specifically, they manage 104 rental units, catering to the needs of low-income seniors and disabled individuals. Their primary objective is to make housing accessible for these groups, thereby contributing to their overall well-being. The association also offers social services to further support the households they serve. This is achieved through two housing complexes, Sea Breeze Apartments and South Bay Apartments.
What is the revenue of South Bay Improvement Association?
South Bay Improvement Association's revenue in 2024 was $1,108,260.
Who are the executives of South Bay Improvement Association and what are their salaries?
There 6 volunteers at South Bay Improvement Association.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for South Bay Improvement Association?
South Bay Improvement Association's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of South Bay Improvement Association
South Bay Improvement Association, a nonprofit organization, is committed to providing affordable rental housing for those in need. Specifically, it serves 104 low-income seniors and disabled individuals across two housing complexes: Sea Breeze Apartments and South Bay Apartments. Beyond offering affordable housing, this organization extends its services to include social assistance for the residents, ensuring they receive the necessary support to live comfortably.
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Impact
July, 2024
The South Bay Improvement Association's impact lies in providing affordable rental housing for low-income seniors and disabled persons in San Luis Obispo, California. Through their initiatives at Sea Breeze Apartments and South Bay Apartments, they offer a total of 104 rental housing units to those in need. This organization plays a crucial role in ensuring that vulnerable populations have access to safe and affordable housing, thereby improving their quality of life and overall well-being.
This information is meant to be a general summary of South Bay Improvement Association. 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 2024.
- Investment Income: $19,363
- Program Service Revenue: $1,088,897
- Gross Receipts: $1,108,260
Assets and Liabilities:
- Total Assets: $5,647,394
- Total Liabilities: $5,448,370
- Net Assets: $199,024
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Other Tenant fees
Revenue
$17,574
Tenant Assistance
Revenue
$522,595
Tenant Rent
Revenue
$548,728
Organization Details
Founding Year
1988
Principal Officer
Kenneth Trigueiro
NTEE Category
Code: L21Z - Housing
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