Overview
What is Magnolia Tree Apartments?
Magnolia Tree Apartments is a nonprofit housing complex situated somewhere, dedicated to providing assisted living for individuals with developmental disabilities. It houses 24 units, catering to this specific community. The primary goal of Magnolia Tree Apartments is to ensure affordable and secure housing, offering a safe and comfortable environment for its residents. The complex aims to enhance their quality of life by offering assisted housing options.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65% (Two-Star out of Four Star rating)
Magnolia Tree Apartments has received a 65% rating from Charity Navigator, indicating a Two-Star status. This rating is derived entirely from their Accountability & Finance score, reflecting the organization’s commitment to transparency and responsible financial management. The breakdown of their score reveals strong performance in areas such as board independence and document retention, suggesting a well-governed organization.
The organization excels in its program expense ratio, scoring a perfect 25 out of 25 points, which indicates that a significant portion of its expenditures is directed toward its programs. This focus on program delivery is a positive aspect, showcasing the organization's dedication to fulfilling its mission. Furthermore, Magnolia Tree Apartments has a fully independent board, which is vital for ensuring unbiased governance.
However, the rating is impacted by a concerning liabilities to assets ratio of 459.90%, which received a score of zero. This indicates potential financial stress, as liabilities substantially exceed assets. Such a scenario could impact the organization's long-term sustainability and may warrant attention from stakeholders and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Magnolia Tree Apartments legitimate?
Magnolia Tree Apartments is a legitimate nonprofit organization registered as a 501(c)(3) entity. Magnolia Tree Apartments 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: $12,503
For more financial information, click here
What is the mission statement of Magnolia Tree Apartments?
Magnolia Tree Apartments is dedicated to providing assisted housing for individuals with developmental disabilities. Their mission is to offer affordable and secure living spaces, ensuring a safe and comfortable environment for their residents. The complex, currently home to 24 units, aims to cater to the housing needs of those requiring assistance, promoting a sense of community and well-being for its residents.
Who is the CEO of Magnolia Tree Apartments?
Michael Gifford is the President of Magnolia Tree Apartments.
What is the revenue of Magnolia Tree Apartments?
Magnolia Tree Apartments's revenue in 2023 was $163,870.
Who are the executives of Magnolia Tree Apartments and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Magnolia Tree Apartments?
Magnolia Tree Apartments's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Magnolia Tree Apartments
Magnolia Tree Apartments, a nonprofit organization, is dedicated to providing assisted housing for individuals with developmental disabilities. Its mission is to offer affordable and secure living arrangements for this community, aiming to create a safe and comfortable environment within its 24 units. The complex serves as a sanctuary for those in need of assistance, striving to enhance their quality of life by offering them a secure and welcoming home.
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Impact
October, 2024
Magnolia Tree Apartments significantly impacts the community by providing essential assisted housing specifically designed for individuals with developmental disabilities. With 24 units currently occupied, it addresses the pressing need for affordable and secure living environments in Bakersfield, CA. This initiative fosters a sense of belonging and support, allowing residents to thrive in a safe and comfortable atmosphere. By creating a nurturing community, Magnolia Tree Apartments enhances the quality of life for its residents, empowering them to gain independence while ensuring they have the assistance they require.
This information is meant to be a general summary of Magnolia Tree Apartments. 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.
- Gross Receipts: $163,870
Assets and Liabilities:
- Total Assets: $412,053
- Total Liabilities: $1,895,063
- Net Assets: -$1,483,010
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Organization Details
Founding Year
1996
Principal Officer
Michael Gifford
Main Address
1400 CHESTER AVE STE D, Bakersfield, CA, 93301
NTEE Category
Code: L20 - Housing
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