Overview
What is St Nicholas Cedars Manor Inc?
St. Nicholas Cedars Manor Inc. is a not-for-profit organization based in Hacienda Heights, California. The primary objective of this corporation is to operate a 26-unit community, providing affordable housing for low-income senior citizens. They accomplish this through a HUD Section 8 rental assistance program, which offers subsidies to eligible residents, enabling them to reside in safe and adequate housing they might otherwise be unable to afford. The contract with HUD, which expires in November 2026, sets maximum annual assistance payments. During vacancies, the corporation can request subsidies up to 80% of contract rent, though this is limited to 60 days, as per certain conditions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
St Nicholas Cedars Manor Inc has received a two-star rating from Charity Navigator, indicating that the organization requires improvement in certain accountability and finance practices. The overall score of 73% reflects a solid program expense ratio of 87.92%, demonstrating that a significant portion of its funds is directed toward its programs. Additionally, the organization boasts a fully independent board, which is a positive aspect of governance.
However, the nonprofit has notable weaknesses that contribute to its lower rating. The absence of key policies, including a conflict of interest policy, whistleblower policy, and document retention and destruction policy, has resulted in a substantial loss of points in accountability metrics. Furthermore, the organization has not made its tax form readily accessible on its website, which is a transparency concern.
Overall, while St Nicholas Cedars Manor Inc shows strengths in financial allocation and board independence, it must address its governance policies to improve its accountability and enhance its rating. These improvements could foster greater trust and support from the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is St Nicholas Cedars Manor Inc legitimate?
St Nicholas Cedars Manor Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Nicholas Cedars Manor 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: $60,334
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What is the mission statement of St Nicholas Cedars Manor Inc?
St. Nicholas Cedars Manor Inc., as a not-for-profit organization, is dedicated to offering quality housing opportunities for low-income senior citizens. Through a partnership with the U.S. Department of Housing and Urban Development (HUD), the community receives rental assistance under HUD Section 8, enabling eligible residents to reside in suitable living facilities they would otherwise be unable to afford. The organization's mission aligns with the provision of safe and adequate housing for its residents, ensuring they can maintain a dignified living standard. The contract between St. Nicholas Cedars Manor and HUD includes maximum annual assistance payments and allows the corporation to request additional funds for vacant units under certain conditions.
Who is the CEO of St Nicholas Cedars Manor Inc?
Co Dr Ronald W Nichols is the President of St Nicholas Cedars Manor Inc.
What is the revenue of St Nicholas Cedars Manor Inc?
St Nicholas Cedars Manor Inc's revenue in 2022 was $464,412.
Who are the executives of St Nicholas Cedars Manor Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for St Nicholas Cedars Manor Inc?
St Nicholas Cedars Manor Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of St Nicholas Cedars Manor Inc
St. Nicholas Cedars Manor, as a not-for-profit corporation, is committed to delivering quality living accommodations for senior citizens with limited income. This is achieved through the operation of a 26-unit community, which operates under HUD Section 8 rental assistance. The primary goal of St. Nicholas Cedars Manor is to offer safe and adequate housing facilities that these individuals could not afford otherwise. The organization receives financial support through a Housing Assistance Payments (HAP) contract with the U.S. Department of Housing and Urban Development (HUD). This contract, which lasts for five years, provides subsidies to eligible residents, enabling them to reside in these facilities. In the event of vacancies, St. Nicholas Cedars Manor can request additional funding from HUD, up to 80% of the contract rent, given specific conditions are met, but never exceeding 60 days.
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Impact
July, 2024
St. Nicholas Cedars Manor Inc's impact can be seen in the provision of quality living for low-income senior citizens in Hacienda Heights, California. By operating a 26-unit community under HUD Section 8 rental assistance, the organization ensures that eligible residents have access to safe and adequate housing facilities that they might not otherwise afford. This contributes to enhancing the well-being and quality of life for low-income senior citizens in the area.
This information is meant to be a general summary of St Nicholas Cedars Manor 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: $9
- Program Service Revenue: $464,403
- Gross Receipts: $464,412
Assets and Liabilities:
- Total Assets: $410,501
- Total Liabilities: $25,548
- Net Assets: $384,953
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$464,403
Organization Details
Founding Year
1977
Phone
(747) 273-0880Principal Officer
Co Dr Ronald W Nichols
Main Address
2323 W 4TH STREET, LOS ANGELES, CA, 90057
NTEE Category
Code: L22 - Housing
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