Overview
What is Verdugo Tower Inc?
Verdugo Tower Inc is a nonprofit organization situated in Pasadena, California. Primarily, their mission is to provide affordable housing for elderly and handicapped individuals, ensuring they live with dignity and comfort. The U.S. Department of HUD oversees and regulates their operations. To further support residents, Verdugo Tower Inc offers a coin-operated laundry facility to cater to their daily needs. Currently, the organization is managed by a team of nine dedicated employees.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86%, Three-Star out of Four Star rating
Verdugo Tower Inc has earned a solid Three-Star rating from Charity Navigator, reflecting an overall score of 86%. This rating is primarily based on the organization's Accountability & Finance, which received a perfect score in several areas, including a fully independent board and a strong financial oversight structure. The organization demonstrates good practices with no material diversion of assets and a healthy liabilities to assets ratio, indicating financial stability.
Strengths of Verdugo Tower Inc include its high percentage of independent board members and a robust program expense ratio of 72.40%, showcasing a commitment to its mission through effective use of funds. The charity has a well-structured oversight committee for financial statements, which contributes positively to its overall accountability.
However, there are notable limitations, such as the absence of a whistleblower policy and a document retention policy, which are essential for transparency and governance. These missing elements could potentially affect stakeholder trust. Despite these issues, the organization still maintains a strong financial performance and governance structure overall.
This AI summary has been generated from information found on Charity Navigator.
Is Verdugo Tower Inc legitimate?
Verdugo Tower Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Verdugo Tower 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: $228,488
For more financial information, click here
What is the mission statement of Verdugo Tower Inc?
Verdugo Tower Inc, as a non-profit organization, is committed to providing low-income housing for elderly and handicapped individuals. The mission of Verdugo Tower Inc is to offer a living space that caters to the needs of these vulnerable groups, ensuring they have a place to call home. The operations of this apartment complex are governed by the U.S. Department of HUD, ensuring compliance with necessary regulations. To further support its residents, Verdugo Tower Inc provides a coin-operated laundry facility, offering additional convenience.
Who is the CEO of Verdugo Tower Inc?
Elvan Moen is the President of Verdugo Tower Inc.
What is the revenue of Verdugo Tower Inc?
Verdugo Tower Inc's revenue in 2023 was $1,453,285.
Who are the executives of Verdugo Tower Inc and what are their salaries?
The average compensation at Verdugo Tower Inc during 2023 was $25,388. There are 9 employees at Verdugo Tower Inc.
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Where can I find the form 990 for Verdugo Tower Inc?
Verdugo Tower Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Verdugo Tower Inc
Verdugo Tower Inc, a non-profit organization, is committed to providing low-income housing for elderly and handicapped individuals. This mission is carried out through the operation of an apartment complex, which serves as a residence for those who meet the specified income requirements and have either age-related or disability-related needs. The operations of Verdugo Tower Inc are regulated and overseen by the U.S. Department of HUD, ensuring that the organization adheres to strict standards of care and living conditions. To further cater to the needs of its residents, Verdugo Tower Inc provides a coin-operated laundry facility, offering a convenient and accessible service for its inhabitants.
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Impact
July, 2024
Verdugo Tower Inc's impact is centered around providing essential low-income housing to elderly and handicapped individuals in Pasadena, CA. By offering affordable rental housing that is specifically tailored to meet the needs of this vulnerable population, Verdugo Tower Inc plays a crucial role in ensuring that these individuals have a safe and stable place to call home. Through its mission of providing low-income housing, the organization addresses a pressing societal need and contributes to creating a more inclusive and supportive community for elderly and handicapped individuals.
This information is meant to be a general summary of Verdugo Tower 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: $2,256
- Program Service Revenue: $462,097
- Gross Receipts: $1,453,285
Assets and Liabilities:
- Total Assets: $5,170,847
- Total Liabilities: $93,974
- Net Assets: $5,076,873
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$457,584
LAUNDRY & VENDING
Revenue
$4,513
Organization Details
Founding Year
1982
Phone
(323) 258-3512Principal Officer
Elvan Moen
Main Address
PO BOX 7070, PASADENA, CA, 911097070
NTEE Category
Code: L21Z - Housing
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