Overview
What is Laurel Housing Associates?
Laurel Housing Associates is a nonprofit organization committed to offering affordable housing solutions for individuals who have recovered from mental illness and can live independently in the community. The organization manages a low-income apartment building, which is subject to regulations by the U.S. Department of Housing and Urban Development (HUD) under section 202 of the National Housing Act. Their mission is to provide essential housing support to individuals facing financial hardships due to mental illness.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating.
Laurel Housing Associates has earned a Three-Star rating, indicating a solid level of accountability and finance management. The overall score is derived from a single beacon focused entirely on financial practices, reflecting a commitment to transparency and responsible governance. Key strengths include a fully independent board and no material diversion of assets, which points to a strong ethical foundation.
The organization scores exceptionally high in its program expense ratio at 93.07%, ensuring that the majority of its funding is directed towards its mission-related activities. Additionally, it has established comprehensive policies, including conflict of interest, whistleblower, and document retention, all of which contribute positively to its governance profile.
While the overall rating is strong, there may be areas for improvement in expanding its operational metrics for a more rounded evaluation. However, the current data showcases Laurel Housing Associates as a well-managed nonprofit with a focus on effective resource allocation and adherence to governance standards.
This AI summary has been generated from information found on Charity Navigator.
Is Laurel Housing Associates legitimate?
Laurel Housing Associates is a legitimate nonprofit organization registered as a 501(c)(3) entity. Laurel Housing Associates submitted a form 990EZ, 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: $0
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What is the mission statement of Laurel Housing Associates?
Laurel Housing Associates' mission is centered around offering affordable housing to individuals who have recovered from mental illness and are capable of living independently in the community. The organization operates a low-income apartment building, overseen by HUD section 202 of the NHA. Their primary goal is to provide housing support to individuals facing financial challenges due to mental illness, aiming to enhance their living conditions and facilitate their integration into the community.
Who is the CEO of Laurel Housing Associates?
Katrina Egner is the CEO of Laurel Housing Associates The CEO's salary of Laurel Housing Associates is $0 and their total compensation is $0.
What is the revenue of Laurel Housing Associates?
Laurel Housing Associates's revenue in 2023 was $173,330.
Who are the executives of Laurel Housing Associates and what are their salaries?
Here are 7 key members and their salaries (Laurel Housing Associates's CEO's salary is $0 and their total compensation is $0):
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Where can I find the form 990EZ for Laurel Housing Associates?
Laurel Housing Associates's most recent form 990EZ was submitted in 2023 and can be accessed here.
Mission Statement of Laurel Housing Associates
Laurel Housing Associates is dedicated to providing affordable housing solutions for individuals who are recovering from mental illness and are capable of living independently in the community. Their mission, in essence, is to offer housing support to those who encounter financial challenges as a result of their mental health conditions. The organization achieves this by managing a low-income apartment building, which falls under HUD section 202 of the NHA. The primary goal of Laurel Housing Associates is to provide a safe and stable living environment for those in need, enabling them to focus on their recovery and rebuilding their lives.
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Impact
October, 2024
Laurel Housing Associates significantly impacts the lives of individuals recovering from mental illness by providing affordable housing that supports their journey toward independence. By owning and operating a low-income apartment building regulated by HUD section 202, the organization enhances the stability of its residents, enabling them to live in a community setting that fosters recovery and personal growth. The initiative directly addresses the financial challenges faced by those with mental health issues, ensuring that they have a safe and supportive environment to call home. This approach not only contributes to the well-being of residents but also promotes greater inclusion and understanding within the community of Tukwila, WA. By fostering independence and stability, Laurel Housing Associates plays a crucial role in uplifting individuals who are capable of living autonomously but need a helping hand in overcoming the barriers they face due to mental illness.
This information is meant to be a general summary of Laurel Housing Associates. 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: $2
- Program Service Revenue: $130,956
- Gross Receipts: $173,330
Assets and Liabilities:
- Total Assets: $375,868
- Total Liabilities: $637,293
- Net Assets: -$261,425
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Organization Details
NTEE Category
Code: L21Z - Housing
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