Overview
What is Echo Park Senior Citizen Housing Corporation?
Echo Park Senior Citizen Housing Corporation is a California-based nonprofit organization, established with the goal of providing affordable housing for the very low-income elderly population in Los Angeles. Operating under Section 202 of the National Housing Act, the corporation started its operations in October 2002. The organization owns a 41-unit rental housing project that falls under their jurisdiction. They have a regulatory agreement with the U.S. Department of Housing and Urban Development, which outlines the rental charges and operating methods for the project. The corporation's mission is centered around providing a safe and secure living environment for the elderly, contributing to the overall welfare of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Star rating)
Echo Park Senior Citizen Housing Corporation has achieved a strong 92% rating from Charity Navigator, reflecting its commitment to accountability and financial transparency. This high score is based entirely on a comprehensive assessment of its financial practices, indicating a well-managed nonprofit dedicated to its mission.
The organization excels in several key areas, including having a fully independent board with 10 members, all of whom contribute to its governance without conflicts of interest. Additionally, Echo Park has established solid policies for whistleblower protection and document retention, further underscoring its dedication to ethical management.
However, while the organization has a favorable liabilities to assets ratio of 52.09%, indicating relatively manageable debt levels, there is always room for improvement. Overall, the strong program expense ratio of 83.24% suggests that the majority of funds are directed toward its mission, maximizing the impact on the senior community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Echo Park Senior Citizen Housing Corporation legitimate?
Echo Park Senior Citizen Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Echo Park 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 Echo Park Senior Citizen Housing Corporation?
The Echo Park Senior Citizen Housing Corporation, a California nonprofit, was established with the intent to own and manage a 41-unit rental housing project catering to the very low-income elderly population. The corporation began operations in October 2002, functioning under Section 202 of the National Housing Act. The corporation has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development, which oversees the project's operations, particularly regarding rental charges and operating methods. The primary objective of the Echo Park Senior Citizen Housing Corporation is to provide affordable housing for the elderly, ensuring they can live with dignity and security.
Who is the CEO of Echo Park Senior Citizen Housing Corporation?
Douglas J Cope is the Chair of Echo Park Senior Citizen Housing Corporation.
What is the revenue of Echo Park Senior Citizen Housing Corporation?
Echo Park Senior Citizen Housing Corporation's revenue in 2023 was $499,507.
Who are the executives of Echo Park Senior Citizen Housing Corporation and what are their salaries?
There 11 volunteers at Echo Park Senior Citizen Housing Corporation.
Here are 16 key members and their salaries:
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- Related: $295,646
- Other: $7,146
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- 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 Echo Park Senior Citizen Housing Corporation?
Echo Park Senior Citizen Housing Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Echo Park Senior Citizen Housing Corporation
Echo Park Senior Citizen Housing Corporation, a California-based nonprofit organization, was established with a mission to provide housing for the very low-income elderly population. Operating under Section 202 of the National Housing Act, the corporation began its operations in October 2002, managing a 41-unit rental housing project in Los Angeles, California. The organization entered into a regulatory agreement with the U.S. Department of Housing and Urban Development, which sets guidelines for the project's rental charges and operating methods. The mission of Echo Park Senior Citizen Housing Corporation, therefore, is to ensure affordable, quality housing for the elderly, adhering to the regulations set by the U.S. Department of Housing and Urban Development.
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Impact
July, 2024
Echo Park Senior Citizen Housing Corporation's impact is providing affordable housing for very low-income elderly individuals in Los Angeles. By owning and operating a 41-unit rental housing project, this organization ensures that this vulnerable population has a safe and stable place to live. This initiative not only addresses the critical need for affordable housing but also contributes to the well-being and quality of life of senior citizens in the community. Additionally, 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, Echo Park Senior Citizen Housing Corporation is committed to maintaining ethical and sustainable practices in its operations. This dedicated focus on housing for the elderly demonstrates the organization's deep commitment to serving and supporting this often overlooked demographic.
This information is meant to be a general summary of Echo Park 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: $420
- Program Service Revenue: $181,288
- Gross Receipts: $499,507
Assets and Liabilities:
- Total Assets: $4,173,261
- Total Liabilities: $2,174,162
- Net Assets: $1,999,099
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$181,288
Organization Details
Founding Year
1983
Phone
(310) 475-6083Principal Officer
Douglas J Cope
Main Address
10991 W PICO BLVD, LOS ANGELES, CA, 90064
NTEE Category
Code: L22 - Housing
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