Overview
What is Heritage Place Inc?
Heritage Place Inc, located in Coeur d'Alene, Idaho, is a nonprofit corporation that operates an elderly housing complex. The project, named Orchard Ridge Independent Living, consists of 129 units and is subsidized under Section 202 by the U.S. Department of Housing and Urban Development (HUD). This subsidy ensures affordable rent for the elderly residents, as HUD regulates rent charges and operating methods. With a near-100% occupancy rate during the calendar year, the project's demand in the area is substantial. The organization's mission is to provide low-income housing to the elderly, making a significant impact on the community's senior population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Heritage Place Inc has received a score of 79%, which reflects a solid performance in the area of Accountability & Finance. The organization scores particularly well for having a fully independent board and robust oversight mechanisms, earning full points in categories like board independence, audit oversight, and conflict of interest policies. This indicates a strong commitment to transparency and responsible management of resources.
Despite the strengths in governance and oversight, the organization faces challenges related to its financial health, particularly its liabilities to assets ratio, which received no points. This suggests that while the charity is effectively managed, there may be concerns regarding its overall financial stability and capacity to manage debt relative to its assets.
Overall, Heritage Place Inc demonstrates strong governance practices and accountability, making it a reliable option for donors who prioritize organizational integrity. However, potential donors should consider the financial health aspect as a factor in their decision-making process.
This AI summary has been generated from information found on Charity Navigator.
Is Heritage Place Inc legitimate?
Heritage Place Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Heritage 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: $583,314
For more financial information, click here
What is the mission statement of Heritage Place Inc?
Heritage Place Inc's mission is centered around providing affordable housing for the elderly. This mission is carried out through a U.S. Department of Housing and Urban Development (HUD) subsidized Section 202 program. The organization operates an elderly housing complex, consisting of 129 units, which are regulated by HUD in terms of rent charges and operating methods. Economic assistance from HUD in the form of rental supplements helps in meeting the project's operating expenses. The project's occupancy rate was near 100% during the year, indicating a high demand for such housing projects in the area.
Who is the CEO of Heritage Place Inc?
Ann Johnson is the President of Heritage Place Inc.
What is the revenue of Heritage Place Inc?
Heritage Place Inc's revenue in 2022 was $1,983,260.
Who are the executives of Heritage Place Inc and what are their salaries?
There 7 volunteers at Heritage Place Inc.
Here are 8 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $129,027
- Other: $6,585
Where can I find the form 990 for Heritage Place Inc?
Heritage Place Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Heritage Place Inc
Heritage Place Inc, a nonprofit organization, is dedicated to providing low-income housing for the elderly. This mission is carried out through a U.S. Department of Housing and Urban Development (HUD) subsidized Section 202 program. The project, overseen by HUD, involves the operation of an elderly housing complex consisting of 129 units. Heritage Place Inc is subject to regulatory oversight by HUD regarding rent charges and operating methods. The project relies on economic assistance from HUD in the form of rental supplements to help meet its operating expenses. The project's high occupancy rate, near 100% during the calendar year, is a testament to the significant need for such initiatives in the area.
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Impact
July, 2024
Heritage Place Inc's impact can be seen in its provision of low-income housing to the elderly population in Coeur d'Alene, Idaho. Operating as an elderly housing complex with 129 subsidized units under the U.S. Department of Housing and Urban Development's Section 202 program, Heritage Place Inc plays a crucial role in addressing the housing needs of a vulnerable demographic. The high occupancy rate of close to 100% demonstrates the significant demand for such affordable housing options in the area. Overall, Heritage Place Inc contributes to enhancing the quality of life for elderly individuals with limited financial resources by providing them with a safe and affordable place to call home.
This information is meant to be a general summary of Heritage 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: -$53,274
- Program Service Revenue: $999,145
- Gross Receipts: $2,045,243
Assets and Liabilities:
- Total Assets: $7,681,149
- Total Liabilities: $7,081,213
- Net Assets: $599,936
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTS - LOW INCOME ELD
Revenue
$623,355
FOOD SERVICE INCOME
Revenue
$342,846
MISCELLANEOUS RECEIPTS
Revenue
$32,944
Organization Details
Founding Year
1977
Phone
(208) 664-2680Principal Officer
Ann Johnson
Main Address
702 W WALNUT, COEUR DALENE, ID, 83814
NTEE Category
Code: L22Z - Housing
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