Overview
What is Los Angeles Senior Citizen Housing Corp?
Los Angeles Senior Citizen Housing Corp is a California-based nonprofit organization, established to provide housing for the elderly. In 1988, it began operating a 50-unit rental community in Los Angeles, adhering to Section 202 of the National Housing Act. The corporation operates under a regulatory agreement with the U.S. Department of Housing and Urban Development, which oversees rental charges and operational methods. The primary objective of Los Angeles Senior Citizen Housing Corp is to provide elderly individuals with a secure living space, ensuring they receive the care and support they require.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Stars)
Los Angeles Senior Citizen Housing Corp has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The organization's overall score is primarily driven by its strong performance in the Accountability & Finance category, where it earned an impressive score of 80. The charity demonstrates transparency through its independent board structure and effective financial oversight, showcasing a commitment to good governance.
Strengths of the organization include having a fully independent board and a comprehensive array of policies, such as conflict of interest and whistleblower protections. The majority of its financial metrics are well-rated, particularly the organization's program expense ratio, which indicates a significant portion of its resources are directed towards its mission. However, the liabilities to assets ratio reflects some financial risk, scoring lower among the factors considered.
A notable aspect of the charity's financials is the compensation for key personnel, which, while typical for nonprofit leadership, may raise questions regarding salary levels in relation to the organization's overall financial health. This aspect could be a point of concern for some donors who prioritize cost-effectiveness and resource allocation. Overall, while the organization operates with a strong governance framework, potential donors may want to assess the balance between executive compensation and programmatic spending.
This AI summary has been generated from information found on Charity Navigator.
Is Los Angeles Senior Citizen Housing Corp legitimate?
Los Angeles Senior Citizen Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Los Angeles Senior Citizen Housing Corp 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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What is the mission statement of Los Angeles Senior Citizen Housing Corp?
Los Angeles Senior Citizen Housing Corp, a California nonprofit organization, was established with the goal of providing affordable housing for the elderly. The corporation operates a 50-unit rental community, which commenced operations in 1988. It operates under Section 202 of the National Housing Act. The corporation has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development, which outlines the operation of the property, particularly in regard to rental charges and operating methods. The mission of Los Angeles Senior Citizen Housing Corp can be interpreted as ensuring the provision of suitable living spaces for the elderly, adhering to the guidelines set by the National Housing Act, and working in collaboration with the U.S. Department of Housing and Urban Development to maintain affordable and effective property management.
Who is the CEO of Los Angeles Senior Citizen Housing Corp?
Douglas Cope is the Chair of Los Angeles Senior Citizen Housing Corp.
What is the revenue of Los Angeles Senior Citizen Housing Corp?
Los Angeles Senior Citizen Housing Corp's revenue in 2023 was $1,226,630.
Who are the executives of Los Angeles Senior Citizen Housing Corp and what are their salaries?
Here are 15 key members and their salaries:
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- Related: $142,076
- Other: $21,579
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- Related: $135,576
- Other: $21,323
Where can I find the form 990 for Los Angeles Senior Citizen Housing Corp?
Los Angeles Senior Citizen Housing Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Los Angeles Senior Citizen Housing Corp
Los Angeles Senior Citizen Housing Corp was established as a California nonprofit corporation with a mission to provide affordable housing for the elderly. The corporation operates a 50-unit rental community, which commenced operations in 1988. It operates under Section 202 of the National Housing Act, and its operations are regulated by a regulatory agreement with the U.S. Department of Housing and Urban Development. This agreement governs the rental charges and operating methods of the property, ensuring that the elderly residents can afford safe and comfortable living spaces. The corporation's mission is centered around providing a supportive living environment for senior citizens, enabling them to maintain their independence and dignity in their later years.
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Impact
July, 2024
Los Angeles Senior Citizen Housing Corp's impact lies in providing affordable housing options for the elderly in Los Angeles. As a California corporation operating under Section 202 of the National Housing Act, it owns and operates a 50-unit rental housing community specifically designed for seniors. This initiative, established in 1988, addresses the critical need for housing solutions tailored to the aging population, ensuring that these individuals have access to safe and suitable accommodations. By executing a regulatory agreement with the U.S. Department of Housing and Urban Development, Los Angeles Senior Citizen Housing Corp plays a vital role in facilitating housing options that cater to the unique needs of elderly residents in the city.
This information is meant to be a general summary of Los Angeles Senior Citizen Housing Corp. 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: $1,134
- Program Service Revenue: $194,309
- Gross Receipts: $1,226,630
Assets and Liabilities:
- Total Assets: $2,752,842
- Total Liabilities: $1,804,410
- Net Assets: $948,432
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$194,309
Organization Details
Founding Year
1983
Phone
(310) 475-6083Principal Officer
Douglas Cope
Main Address
10991 W PICO BLVD, LOS ANGELES, CA, 90064
NTEE Category
Code: B90 - Education
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