Overview
What is Borough Park Housing Development Fund Company Inc?
Borough Park Housing Development Fund Company Inc, situated in Brooklyn, New York, is a nonprofit organization primarily dedicated to addressing the housing needs of low-income families. Its mission revolves around providing suitable living arrangements, reflecting a commitment to ensuring affordable housing for this specific demographic. The company operates as a retirement home or senior housing program, offering a supportive living environment for its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star rating)
Borough Park Housing Development Fund Company Inc has received a Three-Star rating from Charity Navigator, reflecting a solid score of 77% based entirely on their Accountability & Finance metrics. This score is significant as it indicates the organization's effective management of financial practices and transparency, which are crucial for ensuring donor trust and support.
The organization demonstrates strong governance with a fully independent board and no material diversion of assets, earning high scores in these areas. Additionally, they maintain a robust conflict of interest policy and have clear documentation practices, which further enhance their accountability. The program expense ratio of 80.51% suggests that a significant portion of their funding is directed towards their programs, indicating a focus on mission-driven work.
However, while the financial metrics are commendable, the overall rating solely relies on the Accountability & Finance beacon, which limits the insight into other operational aspects of the nonprofit. Prospective donors might seek additional information about program impact and effectiveness to gain a fuller understanding of the organization's overall performance.
This AI summary has been generated from information found on Charity Navigator.
Is Borough Park Housing Development Fund Company Inc legitimate?
Borough Park Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Borough Park Housing Development Fund Company 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: $0
For more financial information, click here
What is the mission statement of Borough Park Housing Development Fund Company Inc?
The Borough Park Housing Development Fund Company Inc is committed to providing housing for families with limited income. Their mission is to offer suitable living spaces for these families, ensuring they have access to adequate housing despite their financial constraints. The organization's primary goal is to contribute positively to the lives of low-income families by providing them with a stable and secure home environment. The company's activities revolve around facilitating affordable housing solutions for those in need.
Who is the CEO of Borough Park Housing Development Fund Company Inc?
David Singer is the President of Borough Park Housing Development Fund Company Inc.
What is the revenue of Borough Park Housing Development Fund Company Inc?
Borough Park Housing Development Fund Company Inc's revenue in 2022 was $83,667.
Who are the executives of Borough Park Housing Development Fund Company Inc 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 Development Fund Company Inc?
Borough Park Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Borough Park Housing Development Fund Company Inc
Borough Park Housing Development Fund Company is a mission-driven organization dedicated to providing housing solutions for low-income families. Their primary goal is to offer suitable living spaces for families who may not otherwise have access to affordable housing. By focusing on this critical need, Borough Park Housing Development Fund Company aims to contribute positively to the communities they serve. The organization's mission is a testament to their commitment to social justice and equality, ensuring that every family has a secure and decent place to call home.
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Impact
October, 2024
Borough Park Housing Development Fund Company Inc significantly impacts the community by addressing the housing needs of low-income families in Brooklyn, NY. By providing affordable housing options, it improves living conditions and fosters stability for those in need. The organization plays a vital role in ensuring that vulnerable populations—particularly low-income families—have access to safe, secure, and suitable living environments. This not only contributes to individual and family well-being but also promotes community cohesion and resilience. Additionally, by targeting housing for low-income families, Borough Park Housing Development Fund Company helps mitigate the broader issues of homelessness and housing insecurity in the area, thereby enhancing the overall quality of life for residents in the community.
This information is meant to be a general summary of Borough Park Housing Development Fund Company 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: $83,667
- Gross Receipts: $83,667
Assets and Liabilities:
- Total Assets: $2,081,274
- Total Liabilities: $24,000
- Net Assets: $2,057,274
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Organization Details
Founding Year
1980
Phone
(718) 435-1300Principal Officer
David Singer
Main Address
4006-18TH AVENUE, BROOKLYN, NY, 11218
NTEE Category
Code: L22Z - Housing
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