Overview
What is Crescent Terrace Inc?
Crescent Terrace Inc is a nonprofit organization situated in Foster City, California. Their primary focus is to facilitate the acquisition, development, and operation of affordable housing units for individuals who fall under the categories of low-income, elderly, or disabled. In alliance with related organizations, Midpen Housing Corporation shares this mission, aiming to provide high-quality, safe, and affordable housing. By doing so, they strive to establish stability and opportunities in the lives of residents, fostering diverse communities where individuals from various ethnic, social, and economic backgrounds can live in harmony and mutual respect.
Official website here: www.midpen-housing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating. This rating indicates that Crescent Terrace Inc demonstrates a reasonable level of accountability and financial health. The overall score is derived entirely from the Accountability & Finance beacon, highlighting the organization’s commitment to transparency and responsible management of funds.
Crescent Terrace Inc excels in several key areas, including having a fully independent board, strong financial oversight, and no reported diversion of assets. Their program expense ratio is notably high at 94.12%, indicating that a significant majority of their resources are directed toward their mission rather than administrative costs. The organization maintains comprehensive policies for conflict of interest, whistleblower protections, and document retention, which further enhances its governance framework.
However, a notable concern is the liabilities to assets ratio of 193.76%, suggesting that the organization has more liabilities than assets, which could pose long-term financial stability challenges. While the high program expense ratio reflects effective service delivery, the financial structure of Crescent Terrace Inc warrants careful monitoring to ensure sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Crescent Terrace Inc legitimate?
Crescent Terrace Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Crescent Terrace 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: $81,406
For more financial information, click here
Official website here: www.midpen-housing.org
What is the mission statement of Crescent Terrace Inc?
Crescent Terrace Inc, in collaboration with related organizations, aims to provide safe and affordable housing of high quality to individuals in need. The corporation's mission is also focused on establishing stability and opportunities in the lives of its residents. Furthermore, Crescent Terrace Inc strives to foster diverse communities, where individuals from various ethnic, social, and economic backgrounds can live in harmony and mutual respect. The goal is to allow these individuals to live with dignity.
Official website here: www.midpen-housing.org
Who is the CEO of Crescent Terrace Inc?
Matthew O Franklin is the Ceo/President/Asst. Secretary of Crescent Terrace Inc. The CEO's salary of Crescent Terrace Inc is $0 and their total compensation is $660,095.
Official website here: www.midpen-housing.org
What is the revenue of Crescent Terrace Inc?
Crescent Terrace Inc's revenue in 2022 was $1,015,360.
Official website here: www.midpen-housing.org
Who are the executives of Crescent Terrace Inc and what are their salaries?
Here are 19 key members and their salaries (Crescent Terrace Inc's CEO's salary is $0 and their total compensation is $660,095):
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- Related: $606,526
- Other: $53,569
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- Other: $21,754
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- Related: $420,159
- Other: $55,781
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- Related: $459,933
- Other: $42,379
- Compensation: $0
- Related: $292,945
- Other: $43,099
Official website here: www.midpen-housing.org
Where can I find the form 990 for Crescent Terrace Inc?
Crescent Terrace Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.midpen-housing.org
Learn more at the official website: www.midpen-housing.org
Mission Statement of Crescent Terrace Inc
Crescent Terrace Inc, working in conjunction with related organizations, is committed to providing safe, high-quality, and affordable housing to individuals in need. The organization's mission is twofold. Firstly, it aims to establish stability and opportunities in the lives of its residents. By providing housing, Crescent Terrace Inc seeks to offer a secure foundation, enabling its residents to focus on other aspects of their lives.
Secondly, Crescent Terrace Inc strives to foster diverse communities. It believes in the importance of creating spaces where people from various ethnic, social, and economic backgrounds can live together in dignity, harmony, and mutual respect. This mission is a testament to the organization's dedication to promoting inclusivity and understanding among its residents. By doing so, Crescent Terrace Inc contributes to the creation of a more harmonious and equitable society.
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Impact
July, 2024
Crescent Terrace Inc, in conjunction with related organizations like MidPen Housing Corporation, plays a crucial role in providing safe, affordable housing of high quality to those in need. Through the acquisition, development, and operation of affordable housing for low-income, elderly, or disabled individuals, Crescent Terrace Inc fosters stability and opportunity in the lives of residents. By facilitating the creation of diverse communities that allow people from all ethnic, social, and economic backgrounds to live in dignity, harmony, and mutual respect, Crescent Terrace Inc's impact is profound in ensuring access to decent housing for vulnerable populations.
This information is meant to be a general summary of Crescent Terrace 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: $5,098
- Program Service Revenue: $343,248
- Gross Receipts: $1,015,360
Assets and Liabilities:
- Total Assets: $2,538,688
- Total Liabilities: $4,919,134
- Net Assets: -$2,380,446
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$341,661
OTHER INCOME
Revenue
$1,587
Organization Details
Founding Year
1983
Phone
(650) 356-2900Principal Officer
Matthew O Franklin
Main Address
303 VINTAGE PARK DRIVE 250, FOSTER CITY, CA, 94404
Website
www.midpen-housing.orgNTEE Category
Code: L800 - Housing
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