Overview
What is 145 South 3rd Street Housing Development Fund Corporation?
145 South 3rd Street Housing Development Fund Corporation is a nonprofit organization situated in Brooklyn, New York, specifically at 434 South 5th Street. Their primary mission is to provide housing opportunities for low-income elderly individuals, specifically those aged 65 and above. They operate a housing project, specifically a 65-unit complex, catering to this demographic. The organization's charitable purpose is solely focused on developing and maintaining this housing project for the elderly in need.
Official website here: www.lossures.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
The 145 South 3rd Street Housing Development Fund Corporation has received an 81% rating from Charity Navigator, indicating a solid performance in terms of Accountability and Finance. A significant factor contributing to this score is the organization’s commitment to transparency, as evidenced by its full compliance with policies such as conflict of interest and whistleblower protections.
Strengths of the organization include an entirely independent board and a high program expense ratio of 92.20%, which suggests that a large portion of its funds is being directed towards its mission. The organization has also demonstrated sound financial oversight with effective audit practices and documentation retention policies.
However, a notable limitation is the liabilities to assets ratio, which stands at 132.94%, indicating that the organization may have more liabilities than assets, potentially raising concerns about financial stability. Despite this, the overall accountability metrics reflect a well-managed nonprofit with a focus on governance and ethical practices.
This AI summary has been generated from information found on Charity Navigator.
Is 145 South 3rd Street Housing Development Fund Corporation legitimate?
145 South 3rd Street Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 145 South 3rd Street 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.
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For more financial information, click here
Official website here: www.lossures.org
What is the mission statement of 145 South 3rd Street Housing Development Fund Corporation?
The 145 South 3rd Street Housing Development Fund Corporation is established with a charitable purpose, focusing on developing a housing project for elderly individuals of low income. This organization operates a 65-unit housing project specifically catering to this demographic, providing them with a living space. The corporation's mission is to contribute to the well-being of low-income elderly individuals by ensuring they have access to suitable housing. This initiative aims to support this vulnerable group and enhance their quality of life.
Official website here: www.lossures.org
Who is the CEO of 145 South 3rd Street Housing Development Fund Corporation?
Juan Ramos is the Board Member of 145 South 3rd Street Housing Development Fund Corporation.
Official website here: www.lossures.org
What is the revenue of 145 South 3rd Street Housing Development Fund Corporation?
145 South 3rd Street Housing Development Fund Corporation's revenue in 2022 was $1,352,159.
Official website here: www.lossures.org
Who are the executives of 145 South 3rd Street Housing Development Fund Corporation and what are their salaries?
There 15 volunteers at 145 South 3rd Street Housing Development Fund Corporation.
Here are 17 key members and their salaries:
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- Related: $140,848
- Other: $15,855
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- Related: $131,594
- Other: $15,855
Official website here: www.lossures.org
Where can I find the form 990 for 145 South 3rd Street Housing Development Fund Corporation?
145 South 3rd Street Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lossures.org
Learn more at the official website: www.lossures.org
Mission Statement of 145 South 3rd Street Housing Development Fund Corporation
The 145 South 3rd Street Housing Development Fund Corporation is a charitable organization with a singular focus. Established with the intention of providing housing, it is dedicated to serving elderly individuals of low income. Their mission is to develop and operate a housing project specifically designed for this demographic, ensuring they have a safe and comfortable living environment. This housing project, which accommodates 65 households, is a testament to their commitment to supporting the elderly community in need.
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Impact
July, 2024
145 South 3rd Street Housing Development Fund Corporation's impact is significant as it operates a 65-unit housing project specifically designed to cater to the needs of low-income elderly individuals above the age of 65 in Brooklyn, NY. By providing affordable housing to this vulnerable demographic, the organization plays a crucial role in addressing the housing needs of elderly individuals with limited financial resources. The development fund corporation's mission is focused solely on creating a sustainable housing solution for low-income elderly residents, highlighting its commitment to supporting this underserved population.
This information is meant to be a general summary of 145 South 3rd Street 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: $44
- Program Service Revenue: $1,347,521
- Gross Receipts: $1,352,159
Assets and Liabilities:
- Total Assets: $7,648,778
- Total Liabilities: $10,169,367
- Net Assets: -$2,520,589
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,347,521
Organization Details
Founding Year
2003
Phone
(718) 387-3600Principal Officer
Juan Ramos
Main Address
434 SOUTH 5TH STREET, BROOKLYN, NY, 11211
Website
www.lossures.orgNTEE Category
Code: L22 - Housing
If you are a representative of 145 South 3rd Street Housing Development Fund Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.