Overview
What is Rotary Plazahacsc Hdc Inc?
Rotary Plazahacsc Hdc Inc is a nonprofit organization situated in San Jose, California, specifically at 505 W Julian Street. Their primary mission is to facilitate the development of affordable housing for low-income individuals and families. In 2013, they acquired Morrone Gardens Apartments, a 102-unit complex for the elderly, and in 1994, they were the general partner of Huff Avenue Associates, which operated a 72-unit affordable housing complex known as Huff Gardens Apartments. As of December 11, 2015, Huff Gardens was transferred to Huff Avenue LLC, of which Rotary Plazahacsc Hdc Inc is the sole member. The organization's operations mainly focus on providing affordable housing options, demonstrating their commitment to addressing housing needs within the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Rotary Plazahacsc Hdc Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement in its operations and governance. The organization scored 67% overall, with a particular highlight being its high program expense ratio of 99.04%, suggesting that most funds are directed towards its programs rather than administrative costs. However, the lack of independent board members raises concerns about its governance structure.
The organization demonstrates strong financial oversight with a complete score on its audit and oversight committee, alongside established conflict of interest and whistleblower policies. However, it fails to provide essential financial transparency, as evidenced by missing documents such as its website on the tax form and the tax form itself on its website, which could limit accountability to the public.
Despite achieving a commendable score on material diversion of assets, the liabilities to assets ratio of 65.65% may warrant a closer examination of its financial health. Overall, while Rotary Plazahacsc Hdc Inc shows commitment to its mission through its funding allocation, significant improvements are necessary in governance and transparency practices.
This AI summary has been generated from information found on Charity Navigator.
Is Rotary Plazahacsc Hdc Inc legitimate?
Rotary Plazahacsc Hdc Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rotary Plazahacsc Hdc 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
For more financial information, click here
What is the mission statement of Rotary Plazahacsc Hdc Inc?
Rotary Plazahacsc Hdc Inc's mission is focused on facilitating the development of affordable housing. They have been involved in acquiring and managing affordable housing complexes, such as Morrone Gardens Apartments for the elderly in San Jose, California, and Huff Gardens Apartments in San Jose, which they previously owned and operated. The organization continues to uphold this mission by maintaining its stake in Huff Avenue LLC, the entity that now owns Huff Gardens. By providing affordable housing options, Rotary Plazahacsc Hdc Inc contributes to improving living conditions for low-income individuals and families.
Who is the CEO of Rotary Plazahacsc Hdc Inc?
Preston Prince is the Vice President/Treasurer of Rotary Plazahacsc Hdc Inc.
What is the revenue of Rotary Plazahacsc Hdc Inc?
Rotary Plazahacsc Hdc Inc's revenue in 2022 was $3,380,028.
Who are the executives of Rotary Plazahacsc Hdc Inc and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $285,602
- Other: $46,751
- Compensation: $0
- Related: $382,229
- Other: $62,452
Where can I find the form 990 for Rotary Plazahacsc Hdc Inc?
Rotary Plazahacsc Hdc Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rotary Plazahacsc Hdc Inc
Rotary Plaza Hdc Inc, as a nonprofit organization, is committed to facilitating the development of affordable housing. This mission is evident in their acquisition of Morrone Gardens Apartments, a 102-unit complex for the elderly, in San Jose, California, in 2013. Additionally, Rotary Plaza was the general partner of Huff Avenue Associates, a California limited partnership that owned and operated a 72-unit affordable housing complex, known as Huff Gardens Apartments, in San Jose. The organization's involvement in these housing complexes demonstrates its dedication to providing affordable living options for individuals and families in need. Rotary Plaza's role as the sole member of Huff Avenue LLC, which now owns Huff Gardens Apartments, further underscores its commitment to this mission.
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Impact
July, 2024
Rotary Plazahacsc Hdc Inc's impact is significant in providing housing for low-income individuals and families in San Jose, California. By acquiring and operating affordable housing complexes like Morrone Gardens Apartments and Huff Gardens Apartments, Rotary Plazahacsc Hdc Inc contributes to addressing the housing needs of the elderly and other vulnerable populations in the community. The organization's mission to facilitate the development of affordable housing demonstrates its commitment to improving access to safe and stable housing for those in need. Through its efforts, Rotary Plazahacsc Hdc Inc plays a crucial role in promoting housing security and enhancing the quality of life for individuals and families facing financial challenges.
This information is meant to be a general summary of Rotary Plazahacsc Hdc 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: $733
- Program Service Revenue: $3,379,295
- Gross Receipts: $3,380,028
Assets and Liabilities:
- Total Assets: $19,303,183
- Total Liabilities: $12,674,313
- Net Assets: $6,628,870
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$3,303,996
OTHER REVENUE
Revenue
$75,299
Organization Details
Founding Year
1991
Phone
(408) 275-8770Principal Officer
Preston Prince
Main Address
505 W JULIAN STREET, SAN JOSE, CA, 95110
NTEE Category
Code: L20 - Housing
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