Overview
What is Miramar Manor Apartments Housing Corporation?
Miramar Manor Apartments Housing Corporation is a nonprofit organization situated in Los Angeles, California, specifically at 1038 Venice Boulevard. Their primary mission is to offer affordable housing solutions to low-income families and individuals. By providing housing, they aim to contribute positively to the community and support those in need of affordable living options. The organization operates with a focus on this vital service, ensuring that families and individuals have access to suitable housing within their financial means.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52% (One-Star out of Four Star rating)
Miramar Manor Apartments Housing Corporation has been assigned a low rating of 52%, indicating significant areas for improvement, particularly in its accountability and financial practices. While the organization boasts a fully independent board and demonstrates solid governance in some areas, such as documenting board meeting minutes and maintaining a low liabilities-to-assets ratio, it struggles with critical policies that are currently missing, which adversely affects its overall score.
The nonprofit's program expense ratio stands at 53.47%, suggesting that a significant portion of its expenses is not going toward program activities, which is a concern for potential donors regarding the effective use of funds. Additionally, the lack of essential policies, including a conflict of interest policy, a whistleblower policy, and a document retention policy, raises questions about the organization's transparency and accountability practices.
Despite its strengths in governance structure, the overall score reflects a need for Miramar Manor Apartments Housing Corporation to address its financial management and policy compliance to enhance its effectiveness and public trust. These improvements are crucial if the organization aims to secure donor confidence and improve its rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Miramar Manor Apartments Housing Corporation legitimate?
Miramar Manor Apartments Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Miramar Manor Apartments 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 Miramar Manor Apartments Housing Corporation?
The Miramar Manor Apartments Housing Corporation's mission is centered around providing affordable housing solutions. This organization strives to cater to the needs of low-income families and individuals, offering them a place to call home. Their primary goal is to make housing accessible and affordable for those who might otherwise struggle with the financial burden. By doing so, they aim to contribute positively to their community, ensuring that everyone has a secure living space.
What is the revenue of Miramar Manor Apartments Housing Corporation?
Miramar Manor Apartments Housing Corporation's revenue in 2023 was $150,599.
Who are the executives of Miramar Manor Apartments Housing Corporation and what are their salaries?
There 3 volunteers at Miramar Manor Apartments Housing Corporation.
Here are 4 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
Where can I find the form 990 for Miramar Manor Apartments Housing Corporation?
Miramar Manor Apartments Housing Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Miramar Manor Apartments Housing Corporation
Miramar Manor Apartments Housing Corporation is dedicated to serving the housing needs of families and individuals with limited income. Their mission, in essence, is to offer affordable housing solutions, ensuring that these individuals and families have a place to call home. By providing low-income housing, the corporation aims to contribute positively to the well-being and stability of these communities, allowing them to focus on other essential aspects of their lives. The organization's primary goal is to make housing an attainable and secure resource for those who may otherwise struggle with the cost.
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Impact
October, 2024
Miramar Manor Apartments Housing Corporation plays a crucial role in addressing the affordable housing crisis in Los Angeles by providing essential low-income housing for families and individuals. The organization directly impacts the community by offering stable and safe living environments for residents who might otherwise struggle to find suitable accommodations. By focusing on affordable housing solutions, Miramar Manor helps alleviate the financial burdens faced by low-income households, fostering economic stability and improving quality of life. The availability of accessible housing contributes to the overall well-being of individuals and families, allowing them to allocate resources toward education, healthcare, and other important needs, thus promoting a more equitable and inclusive community.
This information is meant to be a general summary of Miramar Manor Apartments 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: $150,599
- Gross Receipts: $150,599
Assets and Liabilities:
- Total Assets: $4,472,922
- Total Liabilities: $1,800
- Net Assets: $4,471,122
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Organization Details
Founding Year
1996
Principal Officer
Gloria Farias
NTEE Category
Code: L200 - Housing
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