Overview
What is Westminster Towers Incorporated?
Westminster Towers Incorporated is a California-based nonprofit organization, established in 1965, with a primary mission to offer affordable housing for seniors aged 62 and above. Operating under guidelines from the Department of Housing and Urban Development (HUD), the organization manages two federally subsidized apartment buildings in Santa Monica, California: Westminster Towers and Geneva Plaza. The 285-unit Westminster Towers was completed in 1969, while Geneva Plaza, an eight-story, 100-unit building, was completed in 1979. The nonprofit transferred ownership of Geneva Plaza to Geneva Plaza, Inc. in 2019. With a workforce of seven individuals, Westminster Towers Incorporated ensures compliance with HUD guidelines and provides housing assistance through its Section 8 Housing Assistance Payment Program.
Is Westminster Towers Incorporated legitimate?
Westminster Towers Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. Westminster Towers Incorporated 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: $302,159
For more financial information, click here
What is the mission statement of Westminster Towers Incorporated?
Westminster Towers Incorporated is dedicated to providing affordable housing for individuals who are 62 years of age or older. Established under the Department of Housing and Urban Development's guidelines, the organization operates two apartment communities in California. The main project, Westminster Towers HUD Project No.122-SH067, is a 285-unit, seventeen-story building, completed in 1969. A second building, Geneva Plaza HUD Project No. 122-EH001, was added in 1979, featuring 100 units across eight stories. The organization's primary program is its Section 8 Housing Assistance Payment Program, provided under an agreement with the Department of Housing and Urban Development. The apartment rental rates require HUD approval.
Who is the CEO of Westminster Towers Incorporated?
Eric Larson is the President of Westminster Towers Incorporated.
What is the revenue of Westminster Towers Incorporated?
Westminster Towers Incorporated's revenue in 2022 was $3,075,255.
Who are the executives of Westminster Towers Incorporated and what are their salaries?
The average compensation at Westminster Towers Incorporated during 2022 was $43,166. There are 7 employees and 6 volunteers at Westminster Towers Incorporated.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Westminster Towers Incorporated?
Westminster Towers Incorporated's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Westminster Towers Incorporated
Westminster Towers Incorporated is a non-profit organization with a mission to provide affordable housing for individuals who are 62 years of age or older. Established in October 1965, this corporation manages two federally subsidized apartment communities under the guidelines set by the Department of Housing and Urban Development (HUD) under Section 202 of the National Housing Act. The main project, Westminster Towers HUD Project No.122-SH067, is a 17-story, 285-unit building completed in May 1969. Westminster Towers also manages Geneva Plaza, an eight-story, 100-unit building, which was completed in June 1979. The corporation transferred the ownership of Geneva Plaza to Geneva Plaza, Inc. in July 2019.
The primary program of Westminster Towers Incorporated is its Section 8 Housing Assistance Payment Program, provided under an agreement with HUD. This program ensures that eligible low-income elderly residents can afford to live in these apartment communities. The managing agent for both projects is Falkenberg/Gilliam & Associates, Inc., and the apartment rental rates require HUD approval. Overall, Westminster Towers Incorporated is committed to providing affordable housing solutions for the elderly, enabling them to maintain their independence and quality of life.
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Impact
October, 2024
Westminster Towers Incorporated significantly impacts the community by providing affordable housing specifically tailored for individuals aged 62 and older. With a commitment to enhancing the living conditions of low-income elderly residents, the organization manages two large residential buildings in Santa Monica, California.
The first, Westminster Towers, is a seventeen-story structure that offers 285 units, while the second is Geneva Plaza, an eight-story building with 100 units. Both projects are designed to create a supportive living environment for senior citizens, allowing them to enjoy their independence with security and comfort.
The oversight of these communities is guided by regulations established by the Department of Housing and Urban Development (HUD), with rental rates adjusted based on federal approvals to ensure affordability. This ensures that residents can live within their means while accessing essential services and community resources.
By focusing on the housing needs of the elderly, Westminster Towers Incorporated fosters a sense of community and belonging, enhancing the quality of life for its residents and ensuring that they have a stable and welcoming place to call home.
This information is meant to be a general summary of Westminster Towers Incorporated. 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: $1,374
- Program Service Revenue: $1,110,705
- Gross Receipts: $3,075,255
Assets and Liabilities:
- Total Assets: $5,928,986
- Total Liabilities: $241,336
- Net Assets: $5,687,650
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,109,531
PROGRAM INVESTMT INCOM
Revenue
$1,174
Organization Details
Founding Year
1967
Phone
(323) 258-3512Principal Officer
Eric Larson
Main Address
PO BOX 7070, PASADENA, CA, 911097070
NTEE Category
Code: L21Z - Housing
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