Overview
What is Sherman Way Senior Citizen Housing Corp?
Sherman Way Senior Citizen Housing Corp is a California-based nonprofit organization, established to manage a 74-unit elderly housing project located in Van Nuys, California. The project commenced operations in December 1991, functioning under Section 202 of the National Housing Act. The organization has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development, which regulates the project's rental charges and operating methods. The primary focus of Sherman Way Senior Citizen Housing Corp is to provide a residential space for seniors in accordance with the agreed-upon guidelines.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating. This score reflects the organization's overall performance based solely on its Accountability & Finance metrics. A score of 79 indicates that the Sherman Way Senior Citizen Housing Corp demonstrates a solid commitment to financial transparency and responsible management.
The organization excels in having a fully independent board, which is a strong point in its governance structure. It scores well in key areas such as financial oversight, with a perfect score in its Audit and Oversight Committee, and maintains rigorous policies for conflict of interest, whistleblowing, and document retention. Additionally, the program expense ratio is noteworthy, with nearly 74% of expenses going directly to programs.
While the overall rating is commendable, the lack of a multi-faceted scoring system may limit a comprehensive understanding of the charity's impact beyond financial metrics. Nonetheless, the organization appears to maintain high standards of accountability, which is critical for donor trust and organizational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Sherman Way Senior Citizen Housing Corp legitimate?
Sherman Way Senior Citizen Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sherman Way 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.
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What is the mission statement of Sherman Way Senior Citizen Housing Corp?
Sherman Way Senior Citizen Housing Corp, a California nonprofit corporation, was established with the objective of owning and managing a 74-unit rental housing project specifically designed for the elderly. The project commenced operations in December 1991. The corporation operates under Section 202 of the National Housing Act, and it has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development. This agreement governs the project's operations, particularly in relation to rental charges and operational methods. The mission of Sherman Way Senior Citizen Housing Corp can be inferred from its activities, which primarily focus on providing affordable housing and services for the elderly, ensuring compliance with the stipulations of the National Housing Act and the regulatory agreement.
Who is the CEO of Sherman Way Senior Citizen Housing Corp?
Douglas Cope is the Chair of Sherman Way Senior Citizen Housing Corp.
What is the revenue of Sherman Way Senior Citizen Housing Corp?
Sherman Way Senior Citizen Housing Corp's revenue in 2023 was $1,389,097.
Who are the executives of Sherman Way Senior Citizen Housing Corp and what are their salaries?
Here are 15 key members and their salaries:
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- Related: $135,576
- Other: $21,323
Where can I find the form 990 for Sherman Way Senior Citizen Housing Corp?
Sherman Way Senior Citizen Housing Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Sherman Way Senior Citizen Housing Corp
Sherman Way Senior Citizen Housing Corp was established as a nonprofit organization with a mission to provide a 74-unit rental housing project specifically for the elderly. This project was initiated in Van Nuys, California, and the corporation operates under Section 202 of the National Housing Act. The organization has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development, which governs the project's rental charges and operating methods. The primary objective of Sherman Way Senior Citizen Housing Corp is to offer a secure living environment for the elderly, ensuring that their needs are met in accordance with the regulations set by the U.S. Department of Housing and Urban Development.
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Impact
July, 2024
Sherman Way Senior Citizen Housing Corp's impact is significant as it provides affordable rental housing for elderly individuals in Van Nuys, California. By owning and operating a 74-unit housing project under Section 202 of the National Housing Act, the organization plays a crucial role in meeting the housing needs of senior citizens. Through a regulatory agreement with the U.S. Department of Housing and Urban Development, Sherman Way Senior Citizen Housing Corp ensures fair rental charges and maintains high operating standards for the benefit of its residents. This commitment to affordable housing for the elderly contributes positively to the community by addressing an important social need and enhancing the quality of life for senior citizens in the area.
This information is meant to be a general summary of Sherman Way 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: $1,407
- Program Service Revenue: $264,216
- Gross Receipts: $1,389,097
Assets and Liabilities:
- Total Assets: $5,028,964
- Total Liabilities: $4,843,508
- Net Assets: $185,456
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$264,216
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: L22 - Housing
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