Overview
What is Lulac West Park Apartments?
Lulac West Park Apartments is a nonprofit organization located at 10702 IH 35, Corpus Christi, Texas 78410. Its primary mission, as regulated by the United States Department of Housing and Urban Development, is to provide affordable housing for individuals in need of public housing assistance. This nonprofit organization seeks to make a significant impact in the community by offering housing solutions for those who require financial assistance.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star Rating)
Lulac West Park Apartments has received a strong rating of 80%, which reflects its commitment to accountability and financial management. The overall score is based entirely on the Accountability & Finance category, indicating a high level of transparency and effective use of resources. The charity demonstrates robust governance practices, including having 100% independent board members and no material diversion of assets.
The organization excels in financial health, evidenced by a program expense ratio of 96.70%, suggesting that a significant portion of its budget is directed towards its programs rather than administrative costs. Additionally, its liabilities to assets ratio stands at 0.00%, showcasing strong financial stability. The presence of a documented conflict of interest policy and board meeting minutes further enhances its accountability.
However, while Lulac West Park Apartments shows impressive results in its financial practices, the overall rating being derived from a single beacon score highlights a limitation in the breadth of evaluation. It may benefit from assessments in other areas to provide a more comprehensive picture of its impact and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Lulac West Park Apartments legitimate?
Lulac West Park Apartments is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lulac West Park 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: $26,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Lulac West Park Apartments?
Lulac West Park Apartments is dedicated to providing low-income housing to individuals in need of public housing assistance, as mandated by the United States Department of Housing and Urban Development. The organization adheres to the regulations set by this department to offer suitable housing solutions to those who require assistance. This mission aims to cater to the housing needs of individuals who may not have the financial means to secure housing on their own. The apartment complex operates under the guidance and regulations of the United States Department of Housing and Urban Development, ensuring that the needs of its intended residents are met.
What is the revenue of Lulac West Park Apartments?
Lulac West Park Apartments's revenue in 2023 was $39,399.
Who are the executives of Lulac West Park Apartments and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $8,500
- Related: $0
- Other: $0
- Compensation: $8,250
- Related: $0
- Other: $0
- Compensation: $7,750
- Related: $0
- Other: $0
- Compensation: $750
- Related: $0
- Other: $0
- Compensation: $750
- Related: $0
- Other: $0
Where can I find the form 990 for Lulac West Park Apartments?
Lulac West Park Apartments's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lulac West Park Apartments
Lulac West Park Apartments is dedicated to providing low-income housing assistance to individuals in need. This mission is in line with the regulations set by the United States Department of Housing and Urban Development. The organization's primary role is to offer housing solutions for those who require public assistance, ensuring that they have a place to call home. By adhering to the guidelines set by this department, Lulac West Park Apartments is committed to making a significant impact in the lives of those in need, providing them with a stable living environment.
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Impact
October, 2024
Lulac West Park Apartments plays a critical role in addressing housing insecurity by providing affordable living options for individuals in need of public housing assistance. Located in Corpus Christi, Texas, this initiative directly impacts the community by ensuring that low-income residents have access to safe and stable housing. By adhering to the regulations set forth by the United States Department of Housing and Urban Development, Lulac West Park Apartments supports vulnerable populations, contributing to a healthier community and helping families secure a foundation from which they can improve their circumstances. The presence of such housing options helps to alleviate the stresses associated with financial instability, fostering a sense of dignity and hope among residents.
This information is meant to be a general summary of Lulac West Park 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.
- Investment Income: $6,421
- Program Service Revenue: $32,978
- Gross Receipts: $39,399
Assets and Liabilities:
- Total Assets: $1,204,343
- Total Liabilities: $0
- Net Assets: $1,204,343
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
WEST PARK APARTMENTS L.P.
Revenue
$32,978
Organization Details
Founding Year
2006
Principal Officer
Fernando Canseco
NTEE Category
Code: L20 - Housing
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