Overview
What is St Mary Magdalene Apts Inc?
St. Mary Magdalene Apts Inc is a nonprofit organization situated in Lafayette, Louisiana. Their primary mission is to provide low-income housing, acting in accordance with Section 222(B) (3) of the National Housing Act. By operating under this act, the organization ensures affordable housing opportunities for individuals in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87%, Three-Star out of Four Star rating.
St Mary Magdalene Apts Inc has demonstrated solid performance in terms of accountability and finance, receiving an overall score of 87%. The organization boasts a fully independent board, with 100% of its members meeting this standard, which indicates strong governance practices. Additionally, there have been no material diversions of assets, showing a commitment to the proper use of funds.
In terms of financial health, St Mary Magdalene Apts Inc shows a low liabilities to assets ratio of 4.07%, suggesting a stable financial situation. Furthermore, the charity allocates a significant portion of its budget, 91.18%, directly to program expenses, highlighting its focus on impactful services. Although the organization has received a solid rating, ongoing transparency and adherence to best practices will be vital for future success and trust.
This AI summary has been generated from information found on Charity Navigator.
Is St Mary Magdalene Apts Inc legitimate?
St Mary Magdalene Apts Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Mary Magdalene Apts 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: $13,627
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What is the mission statement of St Mary Magdalene Apts Inc?
St. Mary Magdalene Apts Inc is dedicated to providing low-income housing on a non-profit basis, in accordance with Section 222(B) (3) of the National Housing Act. The organization's mission is centered around making affordable housing available to individuals who fall under the low-income bracket. By operating on a non-profit basis, the organization ensures that the cost of housing remains accessible and within reach for those who need it most. The organization's primary activity is to provide housing solutions, thus contributing positively to the community by providing a basic necessity to those in need.
Who is the CEO of St Mary Magdalene Apts Inc?
Bishop J Douglas Deshotel is the President of St Mary Magdalene Apts Inc.
What is the revenue of St Mary Magdalene Apts Inc?
St Mary Magdalene Apts Inc's revenue in 2022 was $152,813.
Who are the executives of St Mary Magdalene Apts Inc and what are their salaries?
There 7 volunteers at St Mary Magdalene Apts Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for St Mary Magdalene Apts Inc?
St Mary Magdalene Apts Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of St Mary Magdalene Apts Inc
St. Mary Magdalene Apts Inc is a dedicated non-profit organization that prioritizes providing affordable housing solutions for individuals with low income. Aligned with Section 222(B) (3) of the National Housing Act, the organization operates on a non-profit basis, offering housing opportunities that cater to this specific demographic. By doing so, St. Mary Magdalene Apts Inc plays a significant role in addressing the housing needs of those who may otherwise struggle to secure suitable residential accommodations.
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Impact
October, 2024
St. Mary Magdalene Apartments Inc plays a crucial role in addressing the housing needs of low-income individuals and families in Lafayette, Louisiana. By providing affordable housing options, the organization helps to alleviate the burden of housing costs, making it easier for residents to maintain stability and improve their quality of life.
The impact of this initiative extends beyond simply offering shelter; it fosters a sense of community and belonging among residents. Access to safe, affordable housing contributes to better health outcomes, educational opportunities, and overall well-being, enabling individuals to focus on personal growth and development rather than the stressors associated with housing insecurity.
Through its commitment to low-income housing solutions, St. Mary Magdalene Apartments Inc not only improves the living conditions of its residents but also strengthens the community as a whole, paving the way for a more inclusive and supportive environment for all.
This information is meant to be a general summary of St Mary Magdalene Apts 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: $110
- Program Service Revenue: $58,491
- Gross Receipts: $152,813
Assets and Liabilities:
- Total Assets: $1,041,221
- Total Liabilities: $18,497
- Net Assets: $1,022,724
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$58,491
Organization Details
Founding Year
2007
Phone
(337) 261-5811Principal Officer
Bishop J Douglas Deshotel
Main Address
PO BOX 62190, LAFAYETTE, LA, 70596
NTEE Category
Code: L22 - Housing
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