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Lourexis Inc

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

EIN: 341401768 ✦ Cleveland, OH ✦ Designated as a 501(c)(3)

Overview

What is Lourexis Inc?

Lourexis Inc is a nonprofit organization situated in Cleveland, Ohio, with an address at 5111 Hector Avenue, 44127. Their primary mission is to offer subsidized housing opportunities for low-income senior citizens. They manage a 70-unit apartment complex under Section 202 of the National Housing Act, which is subject to HUD regulations regarding rent charges and operational methods. Lourexis Inc's goal is to provide a secure living environment and essential housing assistance for this specific demographic, contributing to the overall well-being of the elderly community in the area.


Is Lourexis Inc legitimate?

Lourexis Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lourexis Inc 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $92,400

For more financial information, click here


What is the mission statement of Lourexis Inc?
Who is the CEO of Lourexis Inc?
What is the revenue of Lourexis Inc?
Who are the executives of Lourexis Inc and what are their salaries?
Where can I find the form 990 for Lourexis Inc?

Mission Statement of Lourexis Inc

Lourexis Inc, a nonprofit organization, is dedicated to providing subsidized housing for low-income senior citizens. This mission is encapsulated in the operation of a 70-unit apartment complex, which falls under Section 202 of the National Housing Act. The project is subject to regulations by the HUD, ensuring that rent charges and operating methods adhere to established standards. The corporation's efforts aim to provide a secure living space for elderly individuals who may struggle financially, enabling them to maintain their independence while residing in a supportive environment.

Impact

This information is meant to be a general summary of Lourexis Inc. Please take the time to review official sources before making any decisions based upon the content provided here.




Thursday, August 15, 2024

Lourexis Inc's impact lies in its provision of subsidized housing to low-income senior citizens in Cleveland, Ohio. By operating a 70-unit apartment complex under Section 202 of the National Housing Act, the organization ensures that vulnerable seniors have access to affordable housing options. Through its regulated rent charges and operating methods overseen by HUD, Lourexis Inc fulfills its mission of supporting the well-being and dignity of low-income seniors in the community.





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: $3,942
  • Program Service Revenue: $879,164
  • Gross Receipts: $933,069

    • Assets and Liabilities:
  • Total Assets: $2,959,412
  • Total Liabilities: $2,941,372
  • Net Assets: $18,040
  • Programs

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

    RENTAL INCOME

    Revenue

    $874,787

    TENANT CHARGES

    Revenue

    $4,377

    Organization Details

    Founding Year

    1983

    Principal Officer

    James T Guzowski

    Main Address

    5111 HECTOR AVENUE, CLEVELAND, OH, 44127

    NTEE Category

    Code: P75Z - Human services

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