Overview
What is Borough Park Housing Corporation?
Borough Park Housing Corporation is a nonprofit organization situated in Brooklyn, New York, specifically at 4006 18th Avenue, 11218. Their primary mission is to contribute to the development, renovation, and preservation of local housing, aiming to make these properties accessible to families with moderate and low incomes. By overseeing the creation of multifamily housing, this organization plays a significant role in addressing housing needs within the community, thereby enhancing living conditions for eligible families.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star Rating)
Borough Park Housing Corporation has received a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. With an overall score of 77%, the organization demonstrates strong governance practices, reflected in its perfect score for having a fully independent board and no material diversion of assets. This suggests a commitment to transparency and responsible financial management.
The organization's financial health is highlighted by a program expense ratio of 85%, meaning the majority of its expenses are directed towards its programs. Additionally, its liabilities to assets ratio stands at 23.46%, indicating a manageable level of debt relative to its assets. These metrics illustrate a robust operational capacity to sustain its initiatives.
While the organization has strengths in governance and financial management, the overall rating suggests there may be areas for improvement. However, the high scores across key accountability indicators signify that Borough Park Housing Corporation is effectively managing its resources and maintaining a focus on its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Borough Park Housing Corporation legitimate?
Borough Park Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Borough Park Housing 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 Borough Park Housing Corporation?
The Borough Park Housing Corporation's mission is focused on contributing to the development, renovation, and preservation of local housing. Their primary goal is to make this housing accessible to families with low and moderate incomes. In essence, the organization's activities revolve around overseeing the development of multifamily housing units, ensuring they are within the reach of these income-restricted households.
Who is the CEO of Borough Park Housing Corporation?
David Singer is the Secy/Treasur of Borough Park Housing Corporation.
What is the revenue of Borough Park Housing Corporation?
Borough Park Housing Corporation's revenue in 2022 was $21,691.
Who are the executives of Borough Park Housing Corporation and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Borough Park Housing Corporation?
Borough Park Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Borough Park Housing Corporation
Borough Park Housing Corporation is committed to contributing to the development, renovation, and maintenance of local housing units. Their primary objective is to make these housing facilities accessible to families with low and moderate incomes. By overseeing the development of multifamily housing, this organization aims to provide a much-needed solution to the housing needs of a significant portion of the community. Their mission is driven by the belief that everyone deserves a safe and comfortable living space, regardless of their financial status. By dedicating their resources to this cause, Borough Park Housing Corporation plays a crucial role in addressing housing inequality and improving the living conditions of countless families.
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Impact
August, 2024
Borough Park Housing Corporation's impact is focused on aiding in the development, rehabilitation, and preservation of local housing to make it accessible to low and moderate-income families in Brooklyn, NY. By providing services to oversee the development of multifamily housing for these demographics, the organization contributes to creating more affordable housing options in the community. Their mission is to ensure that affordable housing is available and sustainable for those who may not otherwise have access to it. The work of Borough Park Housing Corporation directly addresses the critical need for affordable housing and helps improve the quality of life for low and moderate-income families in the area.
This information is meant to be a general summary of Borough Park Housing 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: $16,691
- Gross Receipts: $21,691
Assets and Liabilities:
- Total Assets: $994,665
- Total Liabilities: $167,876
- Net Assets: $826,789
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Organization Details
Founding Year
1979
Phone
(718) 435-1300Principal Officer
David Singer
Main Address
4006 18TH AVENUE, BROOKLYN, NY, 11218
NTEE Category
Code: L21Z - Housing
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