Overview
What is Peter Faneuil Development Group Inc?
Peter Faneuil Development Group Inc is a nonprofit organization situated in Boston, Massachusetts, specifically at ONE Florence Street. Their primary mission is to develop and manage affordable housing for low-income individuals and families. This includes operating Peter Faneuil House, which is a 48-unit property located in the former Faneuil School on Beacon Hill. The nonprofit provides housing and related services to qualified tenants, contributing to the community by offering them a secure living space.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating
Peter Faneuil Development Group Inc has received a solid Three-Star rating from Charity Navigator, reflecting a score of 77%. This rating indicates a good level of accountability and finance management within the organization, as it is derived entirely from its Accountability & Finance score. The charity demonstrates strong governance practices, including a board composed of 100% independent members and comprehensive financial audits.
The organization excels in several key metrics, including a high program expense ratio of 88.23%, which suggests that a significant portion of its funds is directed towards its mission-related programs. Additionally, it adheres to best practices by maintaining a conflict of interest policy, documenting board meeting minutes, and showing no material diversion of assets. These elements contribute to a transparent and responsible financial structure.
While the overall score is commendable, it solely relies on the Accountability & Finance beacon, meaning there may be limited information regarding other operational aspects. Nevertheless, the charity's strong governance and financial practices position it as a reliable organization within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Peter Faneuil Development Group Inc legitimate?
Peter Faneuil Development Group Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Peter Faneuil Development Group 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.
Heare are some key statistics you may want to consider:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Peter Faneuil Development Group Inc?
Peter Faneuil Development Group Inc's mission is centered around developing and operating housing facilities for individuals and families with low income. Their primary objective is to provide affordable housing solutions, ensuring that these communities have access to suitable living spaces. The organization manages Peter Faneuil House, a 48-unit property, which offers housing and related services to qualified low-income tenants and their families. Their mission is instrumental in addressing housing needs and contributing to the well-being of these communities.
Who is the CEO of Peter Faneuil Development Group Inc?
Meredith Clapp is the Director of Peter Faneuil Development Group Inc.
What is the revenue of Peter Faneuil Development Group Inc?
Peter Faneuil Development Group Inc's revenue in 2022 was $614,484.
Who are the executives of Peter Faneuil Development Group Inc and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Peter Faneuil Development Group Inc?
Peter Faneuil Development Group Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Peter Faneuil Development Group Inc
Peter Faneuil Development Group Inc is committed to developing and operating housing for individuals and families with low income. This nonprofit organization strives to provide a living space for these individuals, ensuring they have access to essential housing services. One of their notable projects is Peter Faneuil House, a 48-unit affordable housing property located in Boston, Massachusetts. This property offers housing and related services to qualified low-income tenants and their families. By focusing on housing for low-income individuals and families, Peter Faneuil Development Group Inc aims to contribute to their well-being and provide them with a secure living environment.
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Impact
July, 2024
Peter Faneuil Development Group Inc, through its initiative Peter Faneuil House, has a significant impact on providing affordable housing for low-income individuals and families in Boston, Massachusetts. By developing and operating this 48-unit affordable housing property, the organization directly addresses the pressing need for affordable housing in the community. The provision of housing and related services for qualified low-income tenants and their families not only helps address homelessness and housing insecurity but also contributes to creating a more stable and inclusive community for those in need. Through its mission to develop and operate housing for low-income individuals and families, Peter Faneuil Development Group Inc is making a tangible difference in the lives of those facing housing challenges in Boston.
This information is meant to be a general summary of Peter Faneuil Development Group Inc. 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: $10,386
- Program Service Revenue: $596,326
- Gross Receipts: $614,484
Assets and Liabilities:
- Total Assets: $3,559,743
- Total Liabilities: $2,217,737
- Net Assets: $1,342,006
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL PAYMENTS
Revenue
$589,246
LAUNDRY INCOME
Revenue
$7,080
Organization Details
Founding Year
1991
Phone
(617) 363-2300Principal Officer
Meredith Clapp
Main Address
ONE FLORENCE STREET, BOSTON, MA, 02131
NTEE Category
Code: L21 - Housing
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