Overview
What is Madison Avenue Senior Citizen Housing Corporation?
Madison Avenue Senior Citizen Housing Corporation, a California-based nonprofit organization, was established with the purpose of owning and managing a 70-unit rental housing project designed for economically disadvantaged elderly individuals residing in Hollywood, California. Launched in November 1998, the organization operates under Section 202 of the National Housing Act. A regulatory agreement with the U.S. Department of Housing and Urban Development governs the project's operations regarding rental charges and operational methods to ensure accessibility for the targeted population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Madison Avenue Senior Citizen Housing Corporation has achieved an impressive score of 94%, reflecting strong performance in accountability and finance. This high rating indicates that the organization is well-managed and transparent, with all board members being independent. The organization has successfully implemented essential policies, including conflict of interest and whistleblower protections, which further enhance its credibility.
The organization demonstrates efficient use of funds, with a program expense ratio of 82.56%, meaning a significant majority of its expenses go directly toward its programs rather than administrative costs. Additionally, the low liabilities to assets ratio of 2.02% highlights a solid financial footing, ensuring stability and sustainability in its operations.
There are no reported issues regarding material diversion of assets, which showcases the organization’s commitment to ethical stewardship of its resources. Overall, Madison Avenue Senior Citizen Housing Corporation stands out as a reliable nonprofit dedicated to serving its community effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Avenue Senior Citizen Housing Corporation legitimate?
Madison Avenue Senior Citizen Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Avenue Senior Citizen Housing 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 Madison Avenue Senior Citizen Housing Corporation?
The Madison Avenue Senior Citizen Housing Corporation, established as a California nonprofit, was formed with the purpose of owning a 70-unit rental housing project specifically for the very low-income elderly. Operations commenced in November 1998, and the corporation operates under Section 202 of the National Housing Act. A regulatory agreement has been executed between the corporation and the U.S. Department of Housing and Urban Development, which governs the operations of the project regarding rental charges and operating methods. In essence, the organization's mission is to provide affordable housing for the elderly, with regulations in place to ensure fair rental practices.
Who is the CEO of Madison Avenue Senior Citizen Housing Corporation?
Douglas Cope is the Chair of Madison Avenue Senior Citizen Housing Corporation.
What is the revenue of Madison Avenue Senior Citizen Housing Corporation?
Madison Avenue Senior Citizen Housing Corporation's revenue in 2023 was $656,867.
Who are the executives of Madison Avenue Senior Citizen Housing Corporation and what are their salaries?
There 11 volunteers at Madison Avenue Senior Citizen Housing Corporation.
Here are 16 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $295,646
- Other: $7,146
- Compensation: $0
- Related: $167,813
- Other: $17,587
- Compensation: $0
- Related: $220,516
- Other: $10,055
- Compensation: $0
- Related: $142,076
- Other: $21,579
- Compensation: $0
- Related: $135,576
- Other: $21,323
Where can I find the form 990 for Madison Avenue Senior Citizen Housing Corporation?
Madison Avenue Senior Citizen Housing Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Madison Avenue Senior Citizen Housing Corporation
Madison Avenue Senior Citizen Housing Corporation, a California nonprofit organization, was established with the mission to provide affordable housing for the very low-income elderly population. Operating under Section 202 of the National Housing Act, this corporation began its operations in Hollywood, California, in November 1998. The corporation's operations are governed by a regulatory agreement with the U.S. Department of Housing and Urban Development, which sets guidelines for rental charges and operating methods, ensuring that the elderly residents pay reasonable rent and receive appropriate services. The mission of Madison Avenue Senior Citizen Housing Corporation is to offer a safe and comfortable living environment for elderly individuals who require affordable housing options.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Madison Avenue Senior Citizen Housing Corporation provides essential housing support for very low-income elderly individuals in Hollywood, California. Through its 70-unit rental housing project, this organization ensures that seniors have a safe and affordable place to call home. By operating under Section 202 of the National Housing Act and having a regulatory agreement with the U.S. Department of Housing and Urban Development, Madison Avenue Senior Citizen Housing Corporation plays a crucial role in meeting the housing needs of this vulnerable population. Their impact is seen in the tangible difference they make in the lives of elderly residents who might otherwise struggle to find suitable housing options.
This information is meant to be a general summary of Madison Avenue Senior Citizen Housing 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: $180
- Program Service Revenue: $252,412
- Gross Receipts: $656,867
Assets and Liabilities:
- Total Assets: $2,837,344
- Total Liabilities: $57,402
- Net Assets: $2,779,942
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$252,412
Organization Details
Founding Year
1998
Phone
(310) 475-6083Principal Officer
Douglas Cope
Main Address
10991 W PICO BLVD, LOS ANGELES, CA, 90064
NTEE Category
Code: L22Z - Housing
If you are a representative of Madison Avenue Senior Citizen Housing Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.