Overview
What is La Serena Housing Development Corporation?
La Serena Housing Development Corporation is a nonprofit organization situated in Visalia, California, specifically at 5140 W CYPRESS AVENUE. Their primary objective is to offer housing facilities and services tailored to the unique needs of low-income, elderly, and disabled individuals. This mission aligns with Section 221(D)(3)/Section 8 of the National Housing Act. The organization's purpose is to create an environment that caters to the physical, social, and psychological needs of its residents, ensuring they can live comfortably and safely.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, earning it a Two-Star out of Four Star rating. This rating indicates that La Serena Housing Development Corporation meets some standards of accountability and transparency but falls short in several critical areas. A two-star rating suggests that potential donors should exercise caution and consider the organization's financial practices before contributing.
The organization shows strengths in governance, with a fully independent board and effective oversight on financial statements, receiving high scores in those areas. Notably, there are no reported issues with material diversion of assets, which reflects a commitment to proper financial management. Additionally, a strong program expense ratio of 87.69% indicates that a significant portion of expenses goes directly towards its programs.
However, La Serena does have several limitations that affect its overall rating. Key policies such as conflict of interest, whistleblower, and financial statement accessibility are missing or not adequately addressed. Furthermore, the liabilities to assets ratio of 150.54% raises concerns about the financial stability of the organization. Overall, while La Serena Housing Development Corporation has positive aspects, potential supporters may want to consider these weaknesses before making a donation.
This AI summary has been generated from information found on Charity Navigator.
Is La Serena Housing Development Corporation legitimate?
La Serena Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. La Serena Housing Development Corporation 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: $68,291
For more financial information, click here
What is the mission statement of La Serena Housing Development Corporation?
La Serena Housing Development Corporation's mission is centered around providing housing for individuals who are elderly or disabled and fall within low to moderate income brackets. Their purpose is to offer these individuals housing facilities and services that cater specifically to their physical, social, and psychological needs. They operate under Section 221(D)(3)/Section 8 of the National Housing Act, aiming to make suitable living spaces readily available for this community.
Who is the CEO of La Serena Housing Development Corporation?
Ken Kugler is the Secretary/Treasurer of La Serena Housing Development Corporation.
What is the revenue of La Serena Housing Development Corporation?
La Serena Housing Development Corporation's revenue in 2023 was $563,231.
Who are the executives of La Serena Housing Development Corporation and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for La Serena Housing Development Corporation?
La Serena Housing Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of La Serena Housing Development Corporation
La Serena Housing Development Corporation is committed to providing housing for individuals who are elderly or disabled and fall within the brackets of low and moderate income levels. This nonprofit organization operates with the primary goal of offering specialized housing facilities and services tailored to meet the physical, social, and psychological needs of these individuals. They achieve this objective under the provisions of Section 221(D)(3) and Section 8 of the National Housing Act.
In essence, La Serena Housing Development Corporation serves as a beacon of hope for elderly and disabled persons who may be struggling financially. By providing them with suitable housing, this organization aims to enhance their quality of life and promote their overall well-being. The housing facilities offered by La Serena Housing Development Corporation are designed to cater to the unique needs of its residents, ensuring they live in an environment that supports their physical and psychological health.
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Impact
July, 2024
La Serena Housing Development Corporation has a significant impact on the community by providing essential housing solutions for elderly and disabled individuals with low and moderate income levels. Their focus on offering specially designed housing facilities and services tailored to meet the physical, social, and psychological needs of this vulnerable demographic demonstrates a commitment to enhancing their quality of life. By operating under Section 221(D)(3)/Section 8 of the National Housing Act, La Serena Housing Development Corporation plays a vital role in ensuring that those most in need have access to safe and affordable housing options in Visalia, CA.
This information is meant to be a general summary of La Serena Housing Development Corporation. 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: $1,789
- Program Service Revenue: $557,866
- Gross Receipts: $563,231
Assets and Liabilities:
- Total Assets: $1,459,525
- Total Liabilities: $2,197,200
- Net Assets: -$737,675
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$557,866
Organization Details
Founding Year
1982
Phone
(559) 627-3700Principal Officer
Ken Kugler
Main Address
5140 W CYPRESS AVENUE, VISALIA, CA, 93277
NTEE Category
Code: L21 - Housing
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