Overview
What is Lexington Housing Development Fund Corporation?
Lexington Housing Development Fund Corporation is a nonprofit organization situated in New York City, specifically at 77 Water Street, 26th Floor. Their primary mission is to offer housing assistance to senior citizens and individuals with low income. They achieve this goal by operating subsidized rental apartments, ensuring affordable living solutions for those in need. Their work is instrumental in providing a secure and comfortable living environment for these vulnerable populations.
Official website here: www.metcouncil.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 89% (Three-Star out of Four Star rating)
The Lexington Housing Development Fund Corporation has earned an 89% score from Charity Navigator, indicating a solid level of accountability and financial health. With a focus on transparent governance, the organization boasts a 66% independent board membership and has established effective policies for conflict of interest, whistleblower protections, and document retention. Their financial statements are well managed, with no material diversions of assets reported.
Strengths of the organization include a high program expense ratio of 95.62%, reflecting a strong commitment to directing resources toward their mission. Their audit and oversight practices are robust, having scored full points in several key areas, which speaks to their emphasis on financial integrity. However, the organization does face some limitations, particularly noted by the absence of their tax form on their website, impacting transparency.
Overall, while the Lexington Housing Development Fund Corporation demonstrates strong financial health and governance, there are areas for improvement in publicly sharing key financial documents. These factors combined contribute to their overall three-star rating, suggesting they are a reputable organization worth considering for support.
This AI summary has been generated from information found on Charity Navigator.
Is Lexington Housing Development Fund Corporation legitimate?
Lexington Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lexington Housing Development Fund 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
Official website here: www.metcouncil.org
What is the mission statement of Lexington Housing Development Fund Corporation?
The Lexington Housing Development Fund Corporation's mission is centered around providing aid. Specifically, their goal is to assist senior citizens and individuals with low income by offering subsidized rental apartments. This organization is committed to fulfilling its mission of housing assistance, striving to make a positive impact on the lives of these vulnerable groups. In doing so, they aim to contribute to a more equitable housing scenario for these individuals, ensuring they have a safe and stable living environment.
Official website here: www.metcouncil.org
Who is the CEO of Lexington Housing Development Fund Corporation?
David G Greenfield is the Principal Officer of Lexington Housing Development Fund Corporation. The CEO's salary of Lexington Housing Development Fund Corporation is $0 and their total compensation is $650,366.
Official website here: www.metcouncil.org
What is the revenue of Lexington Housing Development Fund Corporation?
Lexington Housing Development Fund Corporation's revenue in 2022 was $566,462.
Official website here: www.metcouncil.org
Who are the executives of Lexington Housing Development Fund Corporation and what are their salaries?
There 2 volunteers at Lexington Housing Development Fund Corporation.
Here are 7 key members and their salaries (Lexington Housing Development Fund Corporation's CEO's salary is $0 and their total compensation is $650,366):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $147,370
- Other: $14,546
- Compensation: $0
- Related: $108,762
- Other: $1,341
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $597,987
- Other: $52,379
- Compensation: $0
- Related: $140,429
- Other: $6,790
- Compensation: $0
- Related: $257,971
- Other: $2,170
Official website here: www.metcouncil.org
Where can I find the form 990 for Lexington Housing Development Fund Corporation?
Lexington Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.metcouncil.org
Learn more at the official website: www.metcouncil.org
Mission Statement of Lexington Housing Development Fund Corporation
The Lexington Housing Development Fund Corporation is a dedicated organization with a mission to provide housing assistance to senior citizens and low-income individuals. In essence, they strive to offer subsidized rental apartments that cater to this specific demographic, ensuring they have access to safe and affordable housing options. By doing so, this nonprofit entity aims to contribute positively to their community, providing a vital service that enhances the quality of life for those who may otherwise struggle with housing insecurity.
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Impact
July, 2024
Lexington Housing Development Fund Corporation impacts the community by providing subsidized rental apartments for seniors and low-income individuals. Through their efforts, they offer housing assistance to those who need it the most, ensuring that senior citizens and individuals with limited financial resources have a safe and affordable place to live. This organization plays a crucial role in addressing the housing needs of vulnerable populations in New York, ultimately improving the quality of life for those they serve. Their focus on housing aligns with their mission to provide assistance and support to those in need, making a significant difference in the lives of many individuals in the community.
This information is meant to be a general summary of Lexington Housing Development Fund 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 2022.
- Investment Income: $2,096
- Program Service Revenue: $475,642
- Gross Receipts: $566,462
Assets and Liabilities:
- Total Assets: $8,075,733
- Total Liabilities: $120,776
- Net Assets: $7,954,957
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$475,642
Organization Details
Founding Year
2000
Phone
(212) 453-9500Principal Officer
David G Greenfield
Main Address
77 WATER STREET 26TH FLOOR, NEW YORK, NY, 10005
Website
www.metcouncil.orgNTEE Category
Code: L22 - Housing
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