Overview
What is Fifth Avenue Committee Inc?
Fifth Avenue Committee Inc, a community organization situated in South Brooklyn, is dedicated to promoting economic and social justice. They have an impressive track record of developing over 1,300 affordable homes, revitalizing more than 30 storefronts, and constructing over 60,000 square feet of community space. Currently, they have 133 units of new affordable housing under construction, with a development pipeline of over 1,700 units, representing an investment of over $850 million in Brooklyn. Adhering to environmentally friendly standards, their new developments meet LEED, Passive House, or Enterprise Green Community criteria. The organization manages 657 units of housing, providing homes to over 850 low and moderate-income families. Moreover, they accommodate 32 small businesses and nonprofit tenants, with over 85% of their commercial tenants being Minority and Women-owned Business Enterprises (MWBES).
Official website here: www.fifthave.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Star rating)
Fifth Avenue Committee Inc has achieved an impressive overall score of 100% from Charity Navigator, indicating exceptional performance in various operational areas. The charity particularly excels in Accountability & Finance, as well as Culture & Community, both scoring a perfect 100%. This reflects a well-managed organization that prioritizes transparency, financial stewardship, and community engagement.
The organization boasts a fully independent board, which enhances its governance structure, ensuring that decisions are made without conflicts of interest. With no material diversions of assets and a solid financial health indicated by a 35.21% liabilities to assets ratio, Fifth Avenue Committee Inc demonstrates robust operational integrity. Additionally, it effectively collects and utilizes feedback, showcasing a strong commitment to continuous improvement.
While the organization scored lower in Leadership & Adaptability with a 7% rating, the 100% in other categories highlights its strengths. This disparity suggests potential areas for growth in leadership practices, though overall, the organization stands out for its accountability and commitment to community-focused initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Fifth Avenue Committee Inc legitimate?
Fifth Avenue Committee Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fifth Avenue Committee 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:
Executive Compensation: $430,951
Professional Fundraising Fees: $6,765
Other Salaries and Wages: $3,646,860
For more financial information, click here
Official website here: www.fifthave.org
What is the mission statement of Fifth Avenue Committee Inc?
Fifth Avenue Committee Inc is an organization dedicated to promoting economic and social justice, providing residents with opportunities to achieve their goals and shape their community's future. Their primary activities involve the development of affordable housing and community facilities. They have constructed over 1,300 affordable homes, revitalized more than 30 storefronts, and built over 60,000 square feet of community space. Currently, they have 133 units of new affordable housing under construction and a development pipeline of over 1,700 units, representing an investment of over $850 million in Brooklyn. All their new developments adhere to LEED, Passive House, or Enterprise Green Community standards. They also manage 657 units of affordable housing, providing homes for over 850 low and moderate income families, and have 32 small business and nonprofit tenants. Over 85% of their commercial tenants are MWBEs.
Official website here: www.fifthave.org
Who is the CEO of Fifth Avenue Committee Inc?
Michelle De La Uz is the Co-Chair of Fifth Avenue Committee Inc.
Official website here: www.fifthave.org
What is the revenue of Fifth Avenue Committee Inc?
Fifth Avenue Committee Inc's revenue in 2022 was $8,824,001.
Official website here: www.fifthave.org
Who are the executives of Fifth Avenue Committee Inc and what are their salaries?
The average compensation at Fifth Avenue Committee Inc during 2022 was $39,590. There are 103 employees and 27 volunteers at Fifth Avenue Committee Inc.
Here are 21 key members and their salaries:
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- Compensation: $101,437
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- Other: $22,165
Official website here: www.fifthave.org
Where can I find the form 990 for Fifth Avenue Committee Inc?
Fifth Avenue Committee Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fifthave.org
Learn more at the official website: www.fifthave.org
Mission Statement of Fifth Avenue Committee Inc
Fifth Avenue Committee, a community organization based in Brooklyn, advances economic and social justice with a goal that local residents can achieve their aspirations and shape their community's future. While the specifics of their mission schedule are not provided, their activities and mission description suggest that they focus on affordable housing and community facilities development.
Fifth Avenue Committee has demonstrated a significant impact in this area. They have developed over 1,300 affordable homes, revitalized more than 30 storefronts, and constructed over 60,000 square feet of community space. At present, they have 133 units of new affordable housing under construction, with a development pipeline of over 1,700 units, representing an investment of over $850 million in Brooklyn. All of their new developments adhere to LEED, Passive House, or Enterprise Green Community standards, indicating a commitment to sustainable and eco-friendly housing solutions.
In addition to housing, Fifth Avenue Committee also owns and manages 657 units of affordable housing, providing homes for over 850 low and moderate-income families. They also accommodate 32 small businesses and nonprofit tenants. The commercial tenants make up over 85% of their portfolio, with many being Minority and Women-owned Business Enterprises (MWBES). This diversity in tenancy not only supports affordable housing but also fosters local economic growth.
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Impact
July, 2024
Fifth Avenue Committee Inc's impact can be seen through its extensive efforts in advancing economic and social justice in South Brooklyn. Through its initiatives, residents are provided with genuine opportunities to achieve their goals and influence the future of their community. One notable aspect of their work is in affordable housing and community facilities development. The organization has developed over 1,300 affordable homes, revitalized more than 30 storefronts, and built over 60,000 square feet of community space. Currently, Fifth Avenue Committee Inc has 133 units of new affordable housing under construction and a development pipeline of over 1,700 units, representing an investment of more than $850 million in Brooklyn. Impressively, all of their new developments are designed to LEED, Passive House, or Enterprise Green Community standards. Furthermore, the organization owns and/or manages 657 units that house over 850 low and moderate-income families, as well as supports 32 small business and tenants, with over 85% of their commercial tenants being MWBEs. Through its varied initiatives and community partnerships, Fifth Avenue Committee Inc is making a significant impact on improving the lives of residents in Brooklyn and fostering a more sustainable and equitable community.
This information is meant to be a general summary of Fifth Avenue Committee 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: $30
- Program Service Revenue: $3,271,364
- Gross Receipts: $9,145,509
Assets and Liabilities:
- Total Assets: $8,481,481
- Total Liabilities: $3,000,338
- Net Assets: $5,481,143
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE
Revenue
$1,592,063
DEVELOP.& MARKET FEES
Revenue
$978,513
SUBCONTRACT INCOME
Revenue
$552,204
PROGRAM RENTAL
Revenue
$148,584
Organization Details
Founding Year
1978
Phone
(718) 237-2017Principal Officer
Michelle De La Uz
Main Address
621 DEGRAW STREET, BROOKLYN, NY, 11217
Website
www.fifthave.orgNTEE Category
Code: S20 - Community improvement
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