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Tcs-I Midtown Apartments

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 231716928 ✦ Scranton, PA ✦ Designated as a 501(c)(3)

Overview

What is Tcs-I Midtown Apartments?

Tcs-I Midtown Apartments is a nonprofit organization situated in Scranton, Pennsylvania, specifically at 670 Adams Avenue. Their primary mission is to provide affordable housing to lower-income residents of the city, ensuring the units are comfortable, clean, modern, and safe. They achieve this by investing in the physical and aesthetic qualities of their 233 residential units, keeping rents 35% to 40% below prevailing market rates in the region. Over the past five years, they have spent around 877,000 on property and equipment additions and renovations, further improving the living conditions for their tenants. Additionally, the organization has made significant capital improvements totalling 2,107,000 in the previous five years. To ensure the safety of its residents, Tcs-I Midtown Apartments collaborates with the City of Scranton for police security coverage, maintains a state-of-the-art video security system, and offers a large, well-maintained green space within the property for residents of all ages to enjoy. With a workforce of 9 employees, the organization has made a positive impact on the community, providing affordable housing options that are both comfortable and secure.


Is Tcs-I Midtown Apartments legitimate?

Tcs-I Midtown Apartments is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tcs-I Midtown 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.

Here are some key statistics you may want to consider:

Executive Compensation: $174,645
Professional Fundraising Fees: $0
Other Salaries and Wages: $278,871

For more financial information, click here


What is the mission statement of Tcs-I Midtown Apartments?
Who is the CEO of Tcs-I Midtown Apartments?
What is the revenue of Tcs-I Midtown Apartments?
Who are the executives of Tcs-I Midtown Apartments and what are their salaries?
Where can I find the form 990 for Tcs-I Midtown Apartments?

Mission Statement of Tcs-I Midtown Apartments

Tcs-I Midtown Apartments, as a nonprofit organization, is committed to providing affordable housing for lower-income residents in the city. The organization ensures that the 233 residential units under its care are not only affordable but also comfortable, clean, modern, and safe. Tcs-I Midtown Apartments achieves this by consistently reinvesting in the physical and aesthetic quality of its properties. The organization's strategic approach involves charging rents that are significantly lower than the prevailing market rates in the region, typically around 35% to 40% less. This affordable pricing makes Tcs-I Midtown Apartments an attractive housing option for current and potential tenants with lower income levels. By prioritizing affordability and quality, Tcs-I Midtown Apartments plays a crucial role in providing decent housing for those who may otherwise struggle to secure affordable living arrangements.

Impact

This information is meant to be a general summary of Tcs-I Midtown Apartments. Please take the time to review official sources before making any decisions based upon the content provided here.




Thursday, August 15, 2024

Tcs-I Midtown Apartments has a significant impact on the city of Scranton by providing 233 units of affordable, comfortable, clean, modern, and safe housing to lower-income residents. The organization has made these units affordable by charging rents that are consistently 35% to 40% below prevailing market rates in the region. Through investments in property and equipment additions, as well as capital improvements, the complex and property have become a source of beauty and pride for the residents and the community. Additionally, Tcs-I Midtown Apartments has ensured the safety of its residential units by contracting with the city for police security coverage, maintaining a state-of-the-art video security system, and providing a well-kept green space for residents to enjoy. This commitment to affordable housing and creating a safe and welcoming environment has a positive impact on the city and its residents.





Financials

This financial information is from Propublica.

Revenue
Expenses
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $638
  • Program Service Revenue: $1,699,038
  • Gross Receipts: $1,699,676

    • Assets and Liabilities:
  • Total Assets: $4,556,948
  • Total Liabilities: $1,513,909
  • Net Assets: $3,043,039
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    RENTAL INCOME, RESIDENTS

    Revenue

    $1,699,038

    Organization Details

    Founding Year

    1970

    Principal Officer

    Keith Tucker

    Main Address

    670 ADAMS AVENUE, SCRANTON, PA, 185102027

    NTEE Category

    Code: L20Z - Housing

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