Overview
What is Mount Zion Madison Street Properties?
Mount Zion Madison Street Properties is a nonprofit organization situated in Seattle, Washington, primarily focused on offering affordable senior housing. They achieve this goal through a low-income housing apartment complex program, providing a much-needed service for elderly individuals who may have limited financial resources. This program enables seniors to live in a secure and appropriate environment, ensuring their well-being and contributing to a sense of community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Star rating)
Mount Zion Madison Street Properties has received a Two-Star rating from Charity Navigator, reflecting an overall score calculated from its Accountability & Finance metrics. The organization showcases strong governance with 100% independent board members and has received full points for its financial audits and documentation of board meeting minutes. Additionally, it has an impressive program expense ratio of 92.35%, indicating that a significant portion of its expenditures directly support its programs.
However, the nonprofit faces challenges reflected in its liabilities to assets ratio, which stands at 161.94%. This high ratio suggests that the organization may have more liabilities than assets, which can raise concerns about financial stability. While it performs well in several key financial accountability areas, these liabilities could potentially impact its operations and sustainability in the long run. Overall, while there are notable strengths, potential donors should consider these limitations when evaluating the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Mount Zion Madison Street Properties legitimate?
Mount Zion Madison Street Properties is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mount Zion Madison Street Properties 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: $97,935
For more financial information, click here
What is the mission statement of Mount Zion Madison Street Properties?
Mount Zion Madison Street Properties is committed to providing affordable senior housing. They accomplish this through a low-income housing apartment complex program located in an unspecified area. The organization's mission is to make senior living more accessible for individuals with limited financial resources. By offering affordable housing, they aim to contribute positively to the lives of senior citizens, ensuring they can reside in a comfortable and suitable environment. The apartment complex program in Seattle, Washington, is a testament to their dedication to this mission.
Who is the CEO of Mount Zion Madison Street Properties?
Wallace Johnson is the President of Mount Zion Madison Street Properties.
What is the revenue of Mount Zion Madison Street Properties?
Mount Zion Madison Street Properties's revenue in 2022 was $612,212.
Who are the executives of Mount Zion Madison Street Properties and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Mount Zion Madison Street Properties?
Mount Zion Madison Street Properties's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mount Zion Madison Street Properties
Mount Zion Madison Street Properties, as a nonprofit organization, is dedicated to providing affordable senior housing. They achieve this mission through a low-income housing apartment complex program, offering a viable living solution for senior citizens in Seattle, Washington. By offering affordable housing, Mount Zion Madison Street Properties aims to ensure that the elderly population can maintain a decent quality of life, free from the financial burden of exorbitant housing costs. This commitment to affordable senior housing is a significant contribution to the community, ensuring that the elderly population can age with dignity and independence.
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Impact
July, 2024
Mount Zion Madison Street Properties has a significant impact on the community by providing affordable senior housing through a low-income housing apartment complex program in Seattle, Washington. Their efforts directly address the pressing need for accessible and safe housing for elderly individuals, supporting their well-being and quality of life. Through their work, Mount Zion Madison Street Properties contributes to the overall social welfare of Seattle by ensuring that seniors have a stable and secure place to call home.
This information is meant to be a general summary of Mount Zion Madison Street Properties. 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: $92
- Program Service Revenue: $589,264
- Gross Receipts: $668,683
Assets and Liabilities:
- Total Assets: $4,009,233
- Total Liabilities: $6,300,946
- Net Assets: -$2,291,713
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME HOUSING REN
Revenue
$589,264
Organization Details
Founding Year
1996
Phone
(206) 322-6500Principal Officer
Wallace Johnson
Main Address
1916 E MADISON STREET, SEATTLE, WA, 98122
NTEE Category
Code: L80 - Housing
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