Overview
What is Berkshire Fund?
Berkshire Fund is a nonprofit organization situated in Pittsfield, Massachusetts. Their primary focus is to provide affordable housing solutions for low-income individuals. This includes offering second mortgages to first-time homebuyers, revitalizing deteriorated housing, and managing rental properties for single parents, their children, and families in need. Their mission is to improve living conditions and promote stability for these vulnerable groups.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91%
The Berkshire Fund has earned a Four-Star out of Four Star rating, reflecting a strong commitment to accountability and finance with a score of 91%. This rating indicates that the organization effectively manages its financial practices, ensuring that resources are utilized efficiently and transparently. The high score in this domain is a positive indicator for potential donors looking for responsible nonprofit organizations.
One of the notable strengths of the Berkshire Fund is its governance structure, featuring 100% independent board members, which enhances the integrity and objectivity of its decision-making processes. Additionally, the charity has established comprehensive policies, including conflict of interest and whistleblower policies, demonstrating a commitment to ethical standards. Financial oversight is robust, with no material diversions of assets reported, which adds to the confidence in its financial stewardship.
However, while the overall financial health appears strong, the liabilities to assets ratio stands at 54.17%, which, although not alarming, indicates that the organization carries a significant portion of liabilities relative to its assets. Potential donors may want to consider this aspect when evaluating the charity's long-term sustainability. Overall, the Berkshire Fund showcases a solid performance in accountability and finance, making it a commendable choice for contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Berkshire Fund legitimate?
Berkshire Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Berkshire Fund 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: $341,012
For more financial information, click here
What is the mission statement of Berkshire Fund?
The Berkshire Fund's mission is centered around providing assistance to first-time homebuyers, rehabilitating dilapidated housing, and managing rental properties for single parents, their children, and low-income families. This organization's primary goal is to extend second mortgages to first-time homebuyers, thereby aiding them in becoming homeowners. Furthermore, the Berkshire Fund is committed to revitalizing degraded housing and overseeing the operation of rental housing units, thereby providing affordable living spaces for those in need.
Who is the CEO of Berkshire Fund?
Anthony Doyle is the President of Berkshire Fund.
What is the revenue of Berkshire Fund?
Berkshire Fund's revenue in 2022 was $5,007,280.
Who are the executives of Berkshire Fund and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- 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 Berkshire Fund?
Berkshire Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Berkshire Fund
Berkshire Fund is a nonprofit organization with a mission to support first-time homebuyers and low-income families. It accomplishes this by providing second mortgages, rehabilitating deteriorated housing, and operating rental housing. This commitment extends to single parents, their children, and other families in need of housing solutions. By offering these services, Berkshire Fund aims to contribute to the well-being and stability of these families, providing them with safe and secure living environments.
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Impact
July, 2024
Berkshire Fund's impact lies in its provision of second mortgages to first-time homebuyers, the rehabilitation of deteriorated housing, and the operation of rental housing for single parents, their children, and low-income families in Pittsfield, MA. Through these efforts, Berkshire Fund plays a crucial role in addressing housing challenges faced by low-income individuals in the community, ultimately helping to improve access to safe and affordable housing options.
This information is meant to be a general summary of Berkshire Fund. 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: $101,516
- Program Service Revenue: $1,887,907
- Gross Receipts: $5,007,280
Assets and Liabilities:
- Total Assets: $24,837,195
- Total Liabilities: $15,519,263
- Net Assets: $9,317,932
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CLASS FEES
Revenue
$2,750
LAUNDRY INCOME
Revenue
$9,009
RENTAL RECEIPTS
Revenue
$1,876,148
Organization Details
Founding Year
1971
Phone
(413) 499-1630Principal Officer
Anthony Doyle
Main Address
C/O BERKSHIRE HOUSING PO BOX 1180, PITTSFIELD, MA, 01202
NTEE Category
Code: L210 - Housing
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