Overview
What is Oceana Senior Housing Corporation?
Oceana Senior Housing Corporation, established in 1996 as a nonprofit organization based in California, is dedicated to providing housing and services for low-income elderly and handicapped individuals. The organization operates Oceana Terrace, a 42-unit apartment project in Pacifica, California, specifically designed to cater to their unique needs. Oceana Senior Housing Corporation is regulated by the HUD regarding rental charges and operating methods, ensuring that the project serves its intended population effectively and affordably. The corporation's mission is to ensure that its residents enjoy a comfortable and supportive living environment, contributing to their overall well-being.
Official website here: www.mercyhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 66%, Two-Star out of Four Star rating.
Oceana Senior Housing Corporation has received a moderate rating, indicating some strengths in its operational framework but notable weaknesses in financial accountability. The organization has achieved a high program expense ratio of 97.89%, signifying that a substantial portion of its funding is directed towards its programs and services. However, a concerning aspect is the lack of independent board members, which raises questions about governance and oversight.
The accountability and finance score of 66 reflects a mixed performance, with full points awarded for its audit and oversight committee as well as for its conflict of interest and whistleblower policies. Nevertheless, the organization has a high liabilities to assets ratio of 121.84%, which may suggest potential financial instability. While the presence of certain governance policies is commendable, the absence of independent oversight could limit the effectiveness of these measures.
Overall, while Oceana Senior Housing Corporation demonstrates a commitment to directing funds toward its mission, the lack of an independent board and the high liabilities may pose challenges to its long-term sustainability and accountability. Stakeholders are encouraged to monitor these areas closely as they engage with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Oceana Senior Housing Corporation legitimate?
Oceana Senior Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oceana Senior Housing 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: $104,511
For more financial information, click here
Official website here: www.mercyhousing.org
What is the mission statement of Oceana Senior Housing Corporation?
Oceana Senior Housing Corporation's mission is focused on providing housing and necessary services for low-income elderly and handicapped individuals. They achieve this goal by owning and operating a specific apartment project named Oceana Terrace, which is currently in operation in Pacifica, California. This project is designed with the unique needs of its residents in mind. The corporation's activities are regulated by the HUD, ensuring that rent charges and operating methods adhere to certain standards.
Official website here: www.mercyhousing.org
Who is the CEO of Oceana Senior Housing Corporation?
Doug Shoemaker is the President/Director of Oceana Senior Housing Corporation.
Official website here: www.mercyhousing.org
What is the revenue of Oceana Senior Housing Corporation?
Oceana Senior Housing Corporation's revenue in 2022 was $552,571.
Official website here: www.mercyhousing.org
Who are the executives of Oceana Senior Housing Corporation and what are their salaries?
Here are 15 key members and their salaries:
- Compensation: $0
- Related: $151,225
- Other: $7,573
- Compensation: $0
- Related: $304,832
- Other: $28,064
- Compensation: $0
- Related: $169,136
- Other: $31,795
- Compensation: $0
- Related: $215,449
- Other: $8,873
- Compensation: $0
- Related: $189,462
- Other: $7,937
- Compensation: $0
- Related: $228,009
- Other: $33,552
- Compensation: $0
- Related: $198,100
- Other: $21,341
- Compensation: $0
- Related: $157,372
- Other: $10,314
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $94,309
- Other: $16,925
- Compensation: $0
- Related: $189,811
- Other: $4,240
- Compensation: $0
- Related: $256,515
- Other: $45,801
- Compensation: $0
- Related: $143,251
- Other: $38,467
- Compensation: $0
- Related: $164,838
- Other: $15,948
- Compensation: $0
- Related: $161,460
- Other: $35,386
Official website here: www.mercyhousing.org
Where can I find the form 990 for Oceana Senior Housing Corporation?
Oceana Senior Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mercyhousing.org
Learn more at the official website: www.mercyhousing.org
Mission Statement of Oceana Senior Housing Corporation
Oceana Senior Housing Corporation, established as a non-profit organization in 1996, is committed to owning and managing a specific apartment project designed to cater to the housing and service needs of low-income elderly and handicapped individuals. This project, known as Oceana Terrace, is currently operational in a specified location, although the information does not provide details about the exact location. The corporation's mission is to provide a comfortable living space for this vulnerable group, ensuring that their needs are met in a manner regulated by the U.S. Department of Housing and Urban Development (HUD). The rent charges and operational methods of the project are overseen by HUD, ensuring that the residents benefit from affordable and well-managed housing.
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Impact
July, 2024
Oceana Senior Housing Corporation's impact is focused on providing affordable housing and services tailored to the needs of low-income elderly and handicapped individuals. Through its operation of Oceana Terrace, a 42-unit apartment project in Pacifica, California, the organization plays a crucial role in addressing the housing challenges faced by vulnerable populations. By offering safe and supportive living arrangements, Oceana Senior Housing Corporation contributes to enhancing the quality of life for its residents and promoting community well-being.
This information is meant to be a general summary of Oceana Senior Housing 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 2022.
- Investment Income: $127
- Program Service Revenue: $214,761
- Gross Receipts: $552,571
Assets and Liabilities:
- Total Assets: $1,443,326
- Total Liabilities: $1,758,641
- Net Assets: -$315,315
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NET RENTAL REVENUE
Revenue
$210,662
ANCILLARY SERVICES
Revenue
$3,860
OTHER REVENUE
Revenue
$239
Organization Details
Founding Year
1995
Phone
(303) 830-3300Principal Officer
Doug Shoemaker
Main Address
1600 BROADWAY SUITE 2000, DENVER, CO, 802025704
Website
www.mercyhousing.orgNTEE Category
Code: L22 - Housing
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