Overview
What is Concord Senior Citizens Housing Development Fund Co Inc?
Concord Senior Citizens Housing Development Fund Co Inc is a nonprofit organization situated in Brooklyn, New York, specifically at 375-77 Putnam Avenue, 11216. Their primary mission is to provide residential rental housing for low-income elderly individuals, utilizing the Section 8 Housing Assistance Payments Program regulated by the U.S. Department of Housing and Urban Development. This program aims to ensure that eligible seniors can afford decent, safe, and sanitary housing, thereby enhancing their quality of life. The organization employs a team of two dedicated individuals to carry out this vital mission.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning it a Two-Star out of Four Star rating.
Concord Senior Citizens Housing Development Fund Co Inc demonstrates a solid commitment to transparency and accountability, reflected in their high scores for board independence and financial oversight, with an impressive program expense ratio of 92.01%. This suggests that a significant portion of their funds is directed towards their programs rather than administrative costs, indicating a strong focus on their mission.
However, the organization faces challenges in terms of financial stability, as indicated by a liabilities to assets ratio of 105.27%, which raises concerns about their financial health. Additionally, the absence of essential policies such as a conflict of interest policy and a whistleblower policy, as well as missing tax documentation on their website, detracts from their overall accountability. These limitations highlight the need for improvement in governance practices to enhance their standing.
This AI summary has been generated from information found on Charity Navigator.
Is Concord Senior Citizens Housing Development Fund Co Inc legitimate?
Concord Senior Citizens Housing Development Fund Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Concord Senior Citizens Housing Development Fund Co 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $58,916
For more financial information, click here
What is the mission statement of Concord Senior Citizens Housing Development Fund Co Inc?
Concord Senior Citizens Housing Development Fund Co Inc's mission is centered around providing residential rental housing for low-income elderly individuals. They accomplish this through the Section 8 Housing Assistance Payments Program, which is regulated by the U.S. Department of Housing and Urban Development. This program enables them to offer affordable housing solutions, providing a living space for elderly individuals who may have limited financial resources. By participating in this program, they contribute to ensuring that elderly citizens have access to safe and suitable living accommodations.
Who is the CEO of Concord Senior Citizens Housing Development Fund Co Inc?
Joe Greene is the Director of Concord Senior Citizens Housing Development Fund Co Inc.
What is the revenue of Concord Senior Citizens Housing Development Fund Co Inc?
Concord Senior Citizens Housing Development Fund Co Inc's revenue in 2022 was $533,578.
Who are the executives of Concord Senior Citizens Housing Development Fund Co Inc and what are their salaries?
The average compensation at Concord Senior Citizens Housing Development Fund Co Inc during 2022 was $29,458. There are 2 employees and 5 volunteers at Concord Senior Citizens Housing Development Fund Co Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Concord Senior Citizens Housing Development Fund Co Inc?
Concord Senior Citizens Housing Development Fund Co Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Concord Senior Citizens Housing Development Fund Co Inc
Concord Senior Citizens Housing Development Fund Co Inc is dedicated to providing residential rental housing for low-income elderly individuals. This is achieved through their involvement in the Section 8 Housing Assistance Payments Program, which is regulated by the U.S. Department of Housing and Urban Development. The organization's mission is to ensure that elderly individuals with limited financial resources have access to safe and affordable housing, thereby improving their quality of life. By leveraging the Section 8 program, Concord Senior Citizens Housing Development Fund Co Inc is able to offer rental housing solutions that cater to the unique needs and circumstances of this vulnerable population. The organization's commitment to this mission is instrumental in providing a sense of security and stability to low-income elderly individuals, enabling them to live with dignity and independence.
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Impact
July, 2024
Concord Senior Citizens Housing Development Fund Co Inc's impact is significant in providing residential rental housing to low-income elderly individuals through the Section 8 Housing Assistance Payments Program regulated by the U.S. Department of Housing and Urban Development. This initiative helps ensure that vulnerable elderly individuals have access to safe and affordable housing, addressing a critical need in the community. By offering this support, Concord Senior Citizens Housing Development Fund Co Inc positively impacts the lives of elderly individuals by enhancing their quality of life and providing a stable housing environment.
This information is meant to be a general summary of Concord Senior Citizens Housing Development Fund Co 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: $3,740
- Program Service Revenue: $529,838
- Gross Receipts: $533,578
Assets and Liabilities:
- Total Assets: $1,697,790
- Total Liabilities: $1,787,351
- Net Assets: -$89,561
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HUD SUBSIDIES
Revenue
$428,921
RENTAL INCOME
Revenue
$100,917
Organization Details
Founding Year
1983
Phone
(516) 285-7500Principal Officer
Joe Greene
Main Address
375-77 PUTNAM AVENUE, BROOKLYN, NY, 11216
NTEE Category
Code: L22I - Housing
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