Overview
What is Harvard Plaza Inc?
Harvard Plaza Inc is a nonprofit organization situated in Pasadena, California. Their primary mission is to offer affordable housing to the elderly and individuals with disabilities. The U.S. Department of HUD oversees and manages their operations, ensuring compliance with necessary regulations. The complex provides essential amenities, including a coin-operated laundry facility, to cater to its residents' needs. With a dedicated team of five employees, Harvard Plaza Inc strives to provide a safe, comfortable living environment for its low-income tenants.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (71%, Two-Star out of Four Star Rating)
Harvard Plaza Inc has received a score of 71%, which translates to a Two-Star rating, indicating that while the organization meets some financial accountability standards, it has notable areas needing improvement. The organization boasts a fully independent board, which is a strong point, and shows sound practices in financial oversight, evidenced by its strong audit committee and absence of material asset diversion.
However, the nonprofit falls short in critical areas such as having a whistleblower policy and a document retention policy, both of which are essential for governance and transparency. Additionally, the organization does not publicly post its tax forms, which may hinder transparency for potential donors. While it performs well in terms of program expense ratio, a high liabilities-to-assets ratio of 78.41% raises concerns about its financial stability and sustainability.
In summary, while Harvard Plaza Inc demonstrates strengths in board independence and program spending, the need for improved governance policies and transparency measures indicates that there is room for significant enhancement in its operational practices.
This AI summary has been generated from information found on Charity Navigator.
Is Harvard Plaza Inc legitimate?
Harvard Plaza Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Harvard Plaza 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:
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Other Salaries and Wages: $227,501
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What is the mission statement of Harvard Plaza Inc?
Harvard Plaza Inc, as a non-profit organization, is committed to providing affordable housing for elderly and handicapped individuals. Their mission is to provide a living space where these individuals can reside comfortably, with the operations being regulated and controlled by the U.S. Department of HUD. The organization operates as an apartment complex, offering rental units to those who fall under the criteria of low income, elderly, or handicapped persons. To facilitate convenience, a coin-operated laundry facility is also provided.
Who is the CEO of Harvard Plaza Inc?
Elvan Moen is the President of Harvard Plaza Inc.
What is the revenue of Harvard Plaza Inc?
Harvard Plaza Inc's revenue in 2023 was $1,883,101.
Who are the executives of Harvard Plaza Inc and what are their salaries?
The average compensation at Harvard Plaza Inc during 2023 was $45,500. There are 5 employees at Harvard Plaza Inc.
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Where can I find the form 990 for Harvard Plaza Inc?
Harvard Plaza Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Harvard Plaza Inc
Harvard Plaza Inc, a non-profit organization, is dedicated to providing affordable housing for the elderly and those with disabilities. This mission is carried out through the operation of a residential complex, where eligible individuals can reside. The U.S. Department of HUD oversees and regulates the operations of this facility, ensuring it serves its intended purpose effectively. To cater to the residents' needs, Harvard Plaza Inc has installed a coin-operated laundry facility within the complex.
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Impact
July, 2024
Harvard Plaza Inc, based in Pasadena, CA, plays a crucial role in providing affordable housing to low-income, elderly, and handicapped individuals. By offering a nonprofit apartment complex that adheres to regulations set by the U.S. Dept. of HUD, Harvard Plaza Inc creates a safe and supportive environment for those in need. This impact not only addresses critical housing challenges faced by vulnerable populations but also promotes a sense of community and stability for individuals who may otherwise struggle to find suitable housing options. The inclusion of amenities like a coin-operated laundry facility further enhances the quality of life for residents, making Harvard Plaza Inc a vital resource in supporting the well-being of underserved individuals in the local community.
This information is meant to be a general summary of Harvard Plaza 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 2023.
- Investment Income: $116,936
- Program Service Revenue: $648,496
- Gross Receipts: $1,883,101
Assets and Liabilities:
- Total Assets: $14,717,566
- Total Liabilities: $11,541,165
- Net Assets: $3,176,401
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$642,816
LAUNDRY & VENDING INCO
Revenue
$5,680
Organization Details
Founding Year
1978
Phone
(323) 258-3512Principal Officer
Elvan Moen
Main Address
PO BOX 7070, PASADENA, CA, 911097070
NTEE Category
Code: L210 - Housing
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