Overview
What is The Salvation Army Lake View Terrace Residences?
The Salvation Army Lake View Terrace Residences Inc. is a compassionate nonprofit organization situated in Rancho Palos Verdes, California. With a minimal workforce of just four individuals, this organization has dedicated its mission to providing affordable housing solutions for low-income elderly or handicapped individuals. The nonprofit operates as an apartment complex, offering subsidized living arrangements to these vulnerable populations, thereby offering them a secure and comfortable living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91% (Four-Star out of Four Star rating)
The Salvation Army Lake View Terrace Residences has earned a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With an overall score of 91%, the organization demonstrates a high level of transparency and fiscal responsibility, which is crucial for donor trust and support. This rating is based entirely on its accountability and finance score, highlighting the importance of these areas in assessing the effectiveness of nonprofits.
One of the organization's notable strengths is its governance structure, with 100% of its board members being independent. This independence is vital for ensuring objective decision-making and maintaining the integrity of the organization. Furthermore, the charity has excellent financial practices, indicated by a program expense ratio of 96.08%, meaning a significant portion of its expenditures directly supports its mission-related programs.
While the organization shows strong financial health with a liabilities to assets ratio of 53.86%, which is generally considered acceptable, continuous monitoring and management of liabilities will be essential to ensure long-term sustainability. Overall, The Salvation Army Lake View Terrace Residences stands out as a well-managed nonprofit, fostering confidence among donors and stakeholders alike.
This AI summary has been generated from information found on Charity Navigator.
Is The Salvation Army Lake View Terrace Residences legitimate?
The Salvation Army Lake View Terrace Residences is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Salvation Army Lake View Terrace Residences 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: $107,857
For more financial information, click here
What is the mission statement of The Salvation Army Lake View Terrace Residences?
The Salvation Army Lake View Terrace Residences is a non-profit organization that operates an apartment complex, providing subsidized housing for low-income elderly or handicapped individuals. Its primary mission is to offer a supportive living environment, ensuring these individuals have access to affordable housing. By doing so, the organization aims to contribute to their overall well-being and enhance their quality of life. The Salvation Army Lake View Terrace Residences serves as a vital resource, offering a safe and affordable living space for those in need, promoting independence and community integration.
Who is the CEO of The Salvation Army Lake View Terrace Residences?
Douglas Riley is the President of The Salvation Army Lake View Terrace Residences.
What is the revenue of The Salvation Army Lake View Terrace Residences?
The Salvation Army Lake View Terrace Residences's revenue in 2022 was $576,133.
Who are the executives of The Salvation Army Lake View Terrace Residences and what are their salaries?
The average compensation at The Salvation Army Lake View Terrace Residences during 2022 was $26,964. There are 4 employees at The Salvation Army Lake View Terrace Residences.
Here are 12 key members and their salaries:
- Compensation: $0
- Related: $50,544
- Other: $31,109
- Compensation: $0
- Related: $48,289
- Other: $23,378
- Compensation: $0
- Related: $48,289
- Other: $23,378
- Compensation: $0
- Related: $40,503
- Other: $23,766
- Compensation: $0
- Related: $40,503
- Other: $23,766
- Compensation: $0
- Related: $28,990
- Other: $25,787
- Compensation: $0
- Related: $27,234
- Other: $25,787
- Compensation: $0
- Related: $26,429
- Other: $20,630
- Compensation: $0
- Related: $26,429
- Other: $20,630
- Compensation: $0
- Related: $12,271
- Other: $10,315
- Compensation: $0
- Related: $12,271
- Other: $10,315
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for The Salvation Army Lake View Terrace Residences?
The Salvation Army Lake View Terrace Residences's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Salvation Army Lake View Terrace Residences
The Salvation Army Lake View Terrace Residences is a non-profit organization that dedicates its mission to providing subsidized housing for low-income elderly or handicapped individuals. This mission is carried out by offering a residential complex that serves as a sanctuary for those in need, ensuring they have access to a secure and affordable living space. By offering subsidized housing, this non-profit organization plays an essential role in alleviating the housing burden for a vulnerable population, thereby contributing to their overall well-being and independence.
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Impact
July, 2024
The Salvation Army Lake View Terrace Residences provides subsidized housing to low-income elderly or handicapped individuals in Rancho Palos Verdes, CA. This organization plays a crucial role in supporting vulnerable populations by offering affordable and safe housing options. Through its mission, The Salvation Army Lake View Terrace Residences positively impacts the lives of its residents by providing them with a stable and secure living environment. This initiative helps promote independence, dignity, and overall well-being among those in need of assistance.
This information is meant to be a general summary of The Salvation Army Lake View Terrace Residences. 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 2022.
- Investment Income: $824
- Program Service Revenue: $257,057
- Gross Receipts: $576,133
Assets and Liabilities:
- Total Assets: $5,363,913
- Total Liabilities: $2,809,367
- Net Assets: $2,554,546
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$257,057
Organization Details
Founding Year
2000
Principal Officer
Douglas Riley
Main Address
30840 HAWTHORNE BLVD, RANCHO PALOS VERDES, CA, 90275
NTEE Category
Code: L20 - Housing
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