Overview
What is Silver Lake New Hope Courtyard Apartments?
Silver Lake New Hope Courtyard Apartments is a California-based nonprofit corporation established to address the housing needs of individuals affected by HIV/AIDS. Located in Los Angeles, this organization operates a 14-unit project, offering shelter for those who are currently homeless or at risk of becoming homeless. The nonprofit receives funding through Section 811 of the National Housing Act, enabling it to provide essential housing assistance to its residents. Silver Lake New Hope Courtyard Apartments is committed to supporting individuals in need, thereby enhancing their quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68% (Two-Star out of Four Star rating)
Silver Lake New Hope Courtyard Apartments has received a 68% rating from Charity Navigator, indicating a moderate level of performance in financial health and accountability. The organization excels in several areas, including having a fully independent board and a strong program expense ratio of 86.90%. These factors contribute positively to its overall evaluation, reflecting a commitment to transparency and effective governance.
Despite these strengths, the organization faces notable challenges, particularly regarding its liabilities to assets ratio, which stands at 269.60%. This high ratio suggests potential financial risk, indicating that the organization may have more liabilities than it can comfortably manage. While the organization demonstrates solid practices in several governance aspects, this financial concern could impact its long-term sustainability.
Overall, Silver Lake New Hope Courtyard Apartments shows commendable organizational practices, particularly in governance and program efficiency. However, stakeholders should be mindful of the financial risks indicated by its liabilities to assets ratio when considering support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Silver Lake New Hope Courtyard Apartments legitimate?
Silver Lake New Hope Courtyard Apartments is a legitimate nonprofit organization registered as a 501(c)(3) entity. Silver Lake New Hope Courtyard Apartments 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
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What is the mission statement of Silver Lake New Hope Courtyard Apartments?
Silver Lake New Hope Courtyard Apartments is a not-for-profit corporation established under the not-for-profit laws of California. Its primary objective is to operate a 14-unit housing project, located in California, specifically in Los Angeles. This project is intended for individuals who are currently homeless or are at risk of becoming homeless, and who are also afflicted with HIV/AIDS. The corporation receives financial assistance through Section 811 of the National Housing Act, thereby enabling it to provide affordable housing solutions for this vulnerable group.
What is the revenue of Silver Lake New Hope Courtyard Apartments?
Silver Lake New Hope Courtyard Apartments's revenue in 2024 was $270,775.
Who are the executives of Silver Lake New Hope Courtyard Apartments and what are their salaries?
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Silver Lake New Hope Courtyard Apartments?
Silver Lake New Hope Courtyard Apartments's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Silver Lake New Hope Courtyard Apartments
Silver Lake New Hope Courtyard Apartments is a not-for-profit corporation, established in compliance with California's not-for-profit statutes. Its primary mission is to operate a housing project, housing 14 units, which provides shelter for individuals who are currently homeless or are at risk of becoming homeless, and are affected by HIV/AIDS. This organization receives housing assistance payments under Section 811 of the National Housing Act, aiming to provide a safe and supportive living environment for those in need.
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Impact
October, 2024
Silver Lake New Hope Courtyard Apartments plays a crucial role in addressing housing insecurity in the Los Angeles area, specifically for individuals who are homeless or at risk of homelessness and who are also affected by HIV/AIDS. By operating a 14-unit residential project, it provides essential housing solutions that not only offer shelter but also contribute to the well-being of a vulnerable population.
The apartments serve as a supportive environment where residents can stabilize their lives and receive necessary resources. This initiative not only alleviates immediate housing needs but also fosters a sense of community and safety among its residents, which is vital for their long-term health and recovery. Through the support of housing assistance payments, the program ensures that these individuals have access to affordable living arrangements, enabling them to focus on their health and personal development.
Overall, Silver Lake New Hope Courtyard Apartments significantly impacts both individual lives and the broader community by promoting stability, health, and dignity for those who might otherwise face precarious living conditions.
This information is meant to be a general summary of Silver Lake New Hope Courtyard Apartments. 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 2024.
- Investment Income: $125
- Program Service Revenue: $83,376
- Gross Receipts: $270,775
Assets and Liabilities:
- Total Assets: $933,561
- Total Liabilities: $2,359,471
- Net Assets: -$1,425,910
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$83,376
Organization Details
Founding Year
1994
Principal Officer
David Nahas
NTEE Category
Code: L21 - Housing
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