Overview
What is Agudas Achim Development Corporation?
Agudas Achim Development Corporation is a nonprofit organization situated in Malden, Massachusetts, specifically at Bryant Terrace 62 Willow Street. Their primary mission revolves around constructing, owning, and managing government-subsidized housing units, adhering to Section 221(D)(3) of the National Housing Act. This endeavor aims to provide affordable housing solutions for the community, thereby contributing to the overall welfare of the area.
What are the reviews and ratings of this charity?
Charity Navigator Rating 67% - Two-Star out of Four Star Rating
Agudas Achim Development Corporation has received a Two-Star rating from Charity Navigator, indicating a need for improvement in certain areas of accountability and finance. The organization demonstrates strengths in board independence and has a commendable program expense ratio, showing that a significant portion of its funds is directed toward its mission-related activities.
However, the nonprofit has notable weaknesses, particularly in transparency and governance practices. The absence of financial statements, a conflict of interest policy, and essential documents on its website raises concerns about its accountability and operational integrity.
Overall, while the organization has some positive attributes, significant gaps in documentation and governance policies suggest that potential donors should approach with caution and consider these factors when making contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Agudas Achim Development Corporation legitimate?
Agudas Achim Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Agudas Achim Development 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: $203,658
For more financial information, click here
What is the mission statement of Agudas Achim Development Corporation?
Agudas Achim Development Corporation's mission is centered around constructing, owning, and managing government-subsidized housing units. This endeavor is carried out under Section 221(D)(3) of the National Housing Act. The corporation's primary objective is to contribute to the provision of affordable housing, thereby addressing the housing needs of various communities.
Who is the CEO of Agudas Achim Development Corporation?
David Posner is the President And Secretary of Agudas Achim Development Corporation.
What is the revenue of Agudas Achim Development Corporation?
Agudas Achim Development Corporation's revenue in 2022 was $945,766.
Who are the executives of Agudas Achim Development Corporation and what are their salaries?
Here are 3 key members and their salaries:
- 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 Agudas Achim Development Corporation?
Agudas Achim Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Agudas Achim Development Corporation
Agudas Achim Development Corporation is committed to constructing, owning, and operating government-subsidized housing units. This mission is in line with Section 221(D)(3) of the National Housing Act. The corporation's primary objective is to provide affordable housing solutions, leveraging government subsidies to make housing more accessible to a wide range of individuals. By taking on this role, Agudas Achim Development Corporation contributes to the broader goal of addressing housing needs and promoting community development.
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Impact
July, 2024
Agudas Achim Development Corporation builds, manages, and operates government-subsidized housing units in Malden, Massachusetts. Through its activities, the organization provides affordable housing options to those in need in the community. By offering these subsidized units, Agudas Achim Development Corporation contributes to addressing the housing challenges faced by low-income individuals and families in Malden. This impact is crucial in promoting stability, security, and improved quality of life for residents who benefit from the organization's housing services.
This information is meant to be a general summary of Agudas Achim Development 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: $98
- Program Service Revenue: $945,668
- Gross Receipts: $945,766
Assets and Liabilities:
- Total Assets: $2,254,251
- Total Liabilities: $229,939
- Net Assets: $2,024,312
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$932,401
LAUNDRY AND VENDING RE
Revenue
$12,590
OTHER MISCELLANEOUS PR
Revenue
$677
Organization Details
Founding Year
1965
Phone
(617) 482-5500Principal Officer
David Posner
Main Address
BRYANT TERRACE 62 WILLOW ST, MALDEN, MA, 02148
NTEE Category
Code: L21 - Housing
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