Overview
What is Northeastern Conference House Housing Development Fund Co Inc?
Northeastern Conference House Housing Development Fund Co Inc is a U.S. Department of Housing and Urban Development (HUD) regulated housing project, primarily designed to serve senior citizens and handicapped individuals with low incomes. Situated in the United States, the project consists of 111 apartments, all of which are subject to HUD's regulatory oversight regarding rental charges and operating requirements. The primary mission of Northeastern Conference House Housing Development Fund Co Inc is to provide affordable housing to this specific demographic, thereby contributing to their housing needs and overall well-being.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
Northeastern Conference House Housing Development Fund Co Inc has received a Three-Star rating from Charity Navigator, indicating a respectable level of accountability and financial health. The organization scored well in most areas of their evaluation, particularly in maintaining an independent board and having a robust audit and oversight committee. The high program expense ratio of 81.76% suggests that a significant portion of their expenditures directly supports their programs.
However, the organization faces a notable issue reflected in its liabilities to assets ratio, which stands at 188.40%. This figure indicates that the organization has more liabilities than assets, which could raise concerns about its long-term financial sustainability. Despite this, the absence of material diversions of assets and a solid conflict of interest policy highlight some strengths in governance and compliance.
Overall, while the charity demonstrates strong governance practices, potential donors and stakeholders should consider the implications of its financial ratios before making decisions. The organization exhibits a commitment to transparency and accountability, but addressing its liabilities will be crucial for ensuring its ongoing viability.
This AI summary has been generated from information found on Charity Navigator.
Is Northeastern Conference House Housing Development Fund Co Inc legitimate?
Northeastern Conference House Housing Development Fund Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northeastern Conference House 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: $303,945
For more financial information, click here
What is the mission statement of Northeastern Conference House Housing Development Fund Co Inc?
Northeastern Conference House Housing Development Fund Co Inc operates as a U.S. Department of Housing and Urban Development (HUD) multifamily housing project, serving 111 units. The project is subject to HUD regulations concerning rental charges and operational requirements. The primary focus of Northeastern Conference House Housing Development Fund Co Inc is to provide housing for senior citizens and individuals with disabilities who fall under the category of low-income residents. The aim is to ensure that these individuals have access to affordable housing options, ensuring their continued independence and well-being.
Who is the CEO of Northeastern Conference House Housing Development Fund Co Inc?
Dr Abraham Jules is the President of Northeastern Conference House Housing Development Fund Co Inc.
What is the revenue of Northeastern Conference House Housing Development Fund Co Inc?
Northeastern Conference House Housing Development Fund Co Inc's revenue in 2022 was $2,108,250.
Who are the executives of Northeastern Conference House Housing Development Fund Co Inc and what are their salaries?
The average compensation at Northeastern Conference House Housing Development Fund Co Inc during 2022 was $50,658. There are 6 employees at Northeastern Conference House Housing Development Fund Co Inc.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Northeastern Conference House Housing Development Fund Co Inc?
Northeastern Conference House Housing Development Fund Co Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Northeastern Conference House Housing Development Fund Co Inc
Northeastern Conference House Housing Development Fund Co Inc is a United States Department of Housing and Urban Development (HUD) regulated multifamily housing project, consisting of 111 units. This nonprofit organization is dedicated to providing housing for senior citizens and individuals with disabilities who fall under the category of low income. As per HUD regulations, the organization is responsible for setting rental charges and operating requirements within the complex, ensuring that it caters specifically to the needs of its residents. Northeastern Conference House Housing Development Fund Co Inc aims to offer a safe and suitable living environment for its tenants, who are predominantly of senior age and have disabilities. The organization's mission is to provide affordable and comfortable housing options, regulated by HUD, making it an essential resource for those in need.
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Impact
July, 2024
Northeastern Conference House Housing Development Fund Co Inc provides essential housing support to senior citizens and handicapped individuals with low incomes in Jamaica, NY. Their project, consisting of 111 units, is regulated by the U.S. Department of Housing and Urban Development (HUD) as to rental charges and operating requirements. By offering affordable housing options to those in need, Northeastern Conference House Housing Development Fund Co Inc plays a vital role in ensuring that vulnerable populations have access to safe and stable homes.
This information is meant to be a general summary of Northeastern Conference House 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: $470
- Program Service Revenue: $1,920,963
- Gross Receipts: $2,108,250
Assets and Liabilities:
- Total Assets: $5,660,082
- Total Liabilities: $9,753,247
- Net Assets: -$4,093,165
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rent Revenue
Revenue
$1,920,963
Organization Details
Founding Year
1978
Phone
(718) 712-2878Principal Officer
Dr Abraham Jules
Main Address
130-10 GUY R BREWER BOULEVARD, JAMAICA, NY, 11434
NTEE Category
Code: L21Z - Housing
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