Overview
What is Mhany 1999 Housing Development Fund Corporation?
Mhany 1999 Housing Development Fund Corporation is a nonprofit organization located at 470 Vanderbilt Ave, 9th Floor, Brooklyn, NY 11238. Their primary mission is to develop housing projects for individuals of low income on a non-profit basis. They incur expenses to maintain these housing developments, ensuring they remain in good condition and serve their intended purpose effectively. By doing so, they contribute to the well-being and housing needs of a significant portion of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Star Rating)
Mhany 1999 Housing Development Fund Corporation has received a Two-Star rating from Charity Navigator, indicating some concerns regarding its accountability and financial practices. The organization scored well in several areas, including having an entirely independent board and strong program expense ratio, demonstrating effective use of its funds for its mission.
However, the nonprofit faced significant drawbacks, particularly in its financial health metrics. The liabilities to assets ratio is alarming at 472.40%, indicating potential financial instability. Additionally, the absence of key policies such as a conflict of interest policy and a whistleblower policy raises concerns about governance and transparency.
Overall, while Mhany 1999 shows positive aspects in terms of governance and program efficiency, the financial health indicators and missing policies suggest that potential donors should approach with caution. Improvements in financial management and governance transparency may enhance the organization's standing in the nonprofit community.
This AI summary has been generated from information found on Charity Navigator.
Is Mhany 1999 Housing Development Fund Corporation legitimate?
Mhany 1999 Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mhany 1999 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
What is the mission statement of Mhany 1999 Housing Development Fund Corporation?
Mhany 1999 Housing Development Fund Corporation is committed to developing, on a non-profit basis, a housing project aimed at serving individuals with low income. This organization's mission revolves around providing affordable housing solutions for this specific demographic. Their activities include the maintenance and upkeep of the housing project, ensuring it remains suitable for the intended residents. The corporation operates with the goal of making housing more accessible for those who may otherwise struggle financially.
Who is the CEO of Mhany 1999 Housing Development Fund Corporation?
Ismene Speliotis is the President of Mhany 1999 Housing Development Fund Corporation.
What is the revenue of Mhany 1999 Housing Development Fund Corporation?
Mhany 1999 Housing Development Fund Corporation's revenue in 2022 was $668,406.
Who are the executives of Mhany 1999 Housing Development Fund Corporation and what are their salaries?
There 3 volunteers at Mhany 1999 Housing Development Fund Corporation.
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 Mhany 1999 Housing Development Fund Corporation?
Mhany 1999 Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mhany 1999 Housing Development Fund Corporation
Mhany 1999 Housing Development Fund Corporation is a non-profit organization with a committed mission. Their primary objective is to develop housing projects, provided on a non-profit basis, catering to individuals of low income. This mission is driven by the belief that everyone deserves access to adequate housing, regardless of their financial status. The corporation incurs expenses to maintain these housing projects, ensuring they remain habitable and suitable for their intended residents. By undertaking this mission, Mhany 1999 Housing Development Fund Corporation is contributing significantly to addressing housing inequality, thereby enhancing the living conditions of individuals in need.
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Impact
July, 2024
Mhany 1999 Housing Development Fund Corporation's impact is centered around developing housing projects for persons of low income on a non-profit basis. Specifically, the organization incurs expenses for the maintenance of housing projects developed for the benefit of individuals with low incomes in Brooklyn, NY. Through its mission, Mhany 1999 aims to address the housing needs of vulnerable populations and provide affordable housing options to those in need.
This information is meant to be a general summary of Mhany 1999 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.
- Program Service Revenue: $663,760
- Gross Receipts: $668,406
Assets and Liabilities:
- Total Assets: $1,980,102
- Total Liabilities: $9,354,044
- Net Assets: -$7,373,942
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$663,760
Organization Details
Founding Year
1999
Phone
(718) 246-8080Principal Officer
Ismene Speliotis
Main Address
470 VANDERBILT AVE 9TH FLOOR, BROOKLYN, NY, 11238
NTEE Category
Code: L20 - Housing
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