Overview
What is Sherman Oaks Services Corporation?
Sherman Oaks Services Corporation, a 501(C)(3) nonprofit organization situated in Los Angeles, California, is committed to supporting the affordable housing mission of Menorah Housing Foundation. They actively contribute to the construction and operation of affordable rental housing, catering primarily to individuals aged 62 and above, whose income does not exceed 50% of the area median income. By offering these services, Sherman Oaks Services Corporation aims to alleviate housing challenges in their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%
Sherman Oaks Services Corporation has achieved a Four-Star out of Four Star rating from Charity Navigator, indicating a high level of financial health and accountability. With an overall score of 94%, the organization demonstrates strong governance practices, particularly with a fully independent board and no material diversion of assets. The charity excels in its financial management, as evidenced by a program expense ratio of 100%, meaning all expenditures are directed toward its mission.
The organization has implemented commendable policies, including a conflict of interest policy and a whistleblower policy, both of which are fully documented. It also maintains transparency through the availability of board meeting minutes, reinforcing its commitment to accountability. The liabilities to assets ratio stands at an impressive -12.41%, suggesting strong financial stability and low risk.
While Sherman Oaks Services Corporation boasts outstanding ratings and practices, potential donors and supporters may still want to review specific program outcomes and community impact to gain a fuller picture of the organization's effectiveness. Overall, this nonprofit stands out for its robust financial practices and governance structure.
This AI summary has been generated from information found on Charity Navigator.
Is Sherman Oaks Services Corporation legitimate?
Sherman Oaks Services Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sherman Oaks Services Corporation 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: $0
For more financial information, click here
What is the mission statement of Sherman Oaks Services Corporation?
Sherman Oaks Services Corporation, as a non-profit organization, aligns with the mission of Menorah Housing Foundation to provide affordable housing solutions. They specifically focus on building and managing rental housing and related services, primarily targeting individuals aged 62 and above with income below 50% of the area median income. Their objective is to contribute to the affordable housing sector, ensuring that elderly individuals have access to suitable living arrangements.
Who is the CEO of Sherman Oaks Services Corporation?
Douglas J Cope is the Chair of Sherman Oaks Services Corporation.
What is the revenue of Sherman Oaks Services Corporation?
Sherman Oaks Services Corporation's revenue in 2023 was $34,292.
Who are the executives of Sherman Oaks Services Corporation and what are their salaries?
There 11 volunteers at Sherman Oaks Services Corporation.
Here are 16 key members and their salaries:
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- Related: $295,646
- Other: $7,146
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- Related: $167,813
- Other: $17,587
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- Related: $220,516
- Other: $10,055
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- Related: $142,076
- Other: $21,579
- Compensation: $0
- Related: $135,576
- Other: $21,323
Where can I find the form 990 for Sherman Oaks Services Corporation?
Sherman Oaks Services Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Sherman Oaks Services Corporation
Sherman Oaks Services Corporation, a non-profit organization under Section 501(c)(3), is dedicated to furthering Menorah Housing Foundation's mission of affordable housing. The corporation specifically focuses on assisting in the construction and operation of affordable rental housing and related services, primarily targeted towards individuals aged 62 and above who earn no more than 50% of the area median income. By doing so, Sherman Oaks Services Corporation plays a vital role in addressing the housing needs of a significant portion of the population, ensuring that they have access to safe, affordable living spaces.
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Impact
August, 2024
Sherman Oaks Services Corporation contributes significantly to the provision of affordable rental housing and related services for individuals aged 62 and older who earn no more than 50% of the area median income. By assisting in building and operating such housing units, this organization directly addresses the pressing need for affordable housing in the Los Angeles area. Its impact can be seen in the improved quality of life and financial stability for older individuals who may struggle to find suitable housing options within their limited income range. By focusing on this specific demographic and income bracket, Sherman Oaks Services Corporation plays a vital role in promoting housing security and dignity for vulnerable senior citizens in the community.
This information is meant to be a general summary of Sherman Oaks Services Corporation. 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: $67
- Program Service Revenue: $34,225
- Gross Receipts: $34,292
Assets and Liabilities:
- Total Assets: -$801,697
- Total Liabilities: $99,447
- Net Assets: -$901,144
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCENTIVE SERVICES FEE
Revenue
$25,725
ASSET MANAGEMENT FEE R
Revenue
$8,500
Organization Details
Founding Year
1993
Phone
(310) 475-6083Principal Officer
Douglas J Cope
Main Address
10991 W PICO BLVD, LOS ANGELES, CA, 90064
NTEE Category
Code: L21 - Housing
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