Overview
What is North Fork Housing Alliance Inc?
North Fork Housing Alliance Inc is a nonprofit organization dedicated to offering affordable housing solutions. They accomplish this by utilizing grants to buy, renovate, or build residential properties, which are subsequently sold or rented to low-income families and individuals. The organization maintains a reserve fund and provides various housing opportunities. In Greenport, NY, there are five multi-family homes under the management of the NY State Division of Housing and Community Renewal, with rental charges and operating methods being regulated accordingly.
What are the reviews and ratings of this charity?
Charity Navigator rating: 71%, Two-Star out of Four Star rating.
North Fork Housing Alliance Inc has received a score of 71% on Charity Navigator, which reflects some strengths and weaknesses within the organization. The charity demonstrates a strong accountability framework, with all board members being independent and a solid score in their financial statement management. They maintain a high program expense ratio of nearly 91%, indicating that a significant portion of their resources is directed toward their mission.
However, the organization has notable limitations that have impacted its overall rating. Key policies such as a whistleblower policy and a document retention policy are missing, which raises concerns about governance practices. Additionally, their liabilities exceed their assets, with a ratio of over 106%, suggesting potential financial stability issues.
Overall, while North Fork Housing Alliance Inc shows commitment to its programs and has a strong independent board, improvements in governance and financial management practices are necessary for enhancing its sustainability and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is North Fork Housing Alliance Inc legitimate?
North Fork Housing Alliance Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. North Fork Housing Alliance 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: $259,031
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of North Fork Housing Alliance Inc?
The North Fork Housing Alliance Inc's mission is centered around providing affordable housing solutions. They accomplish this by utilizing grants to purchase, enhance, or construct residential units, which are subsequently offered for sale or rental to families and individuals with limited income. The organization maintains a reserve fund and offers housing opportunities. Furthermore, the Alliance operates five multi-family homes under the New York State Division of Housing and Community Renewal program, regulating rental charges and operating methods accordingly.
Who is the CEO of North Fork Housing Alliance Inc?
Tanya Palmore is the Executive Director of North Fork Housing Alliance Inc.
What is the revenue of North Fork Housing Alliance Inc?
North Fork Housing Alliance Inc's revenue in 2022 was $2,944,962.
Who are the executives of North Fork Housing Alliance Inc and what are their salaries?
The average compensation at North Fork Housing Alliance Inc during 2022 was $51,806. There are 5 employees at North Fork Housing Alliance Inc.
Here are 9 key members and their salaries:
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Where can I find the form 990 for North Fork Housing Alliance Inc?
North Fork Housing Alliance Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of North Fork Housing Alliance Inc
North Fork Housing Alliance, a nonprofit organization, is dedicated to providing affordable housing solutions. To achieve this mission, the alliance strategically utilizes grants to purchase, improve, or construct residential units. These units are then sold or rented to low-income families and individuals, ensuring that housing remains within their financial reach. The alliance maintains a reserve fund and offers housing opportunities, demonstrating its commitment to making a meaningful impact on the community.
Operating under the NY State Division of Housing and Community Renewal program, North Fork Housing Alliance manages five multi-family homes located in Greenport, NY. The rental charges and operating methods for these properties adhere to the guidelines set forth by the division. By providing affordable housing options, the alliance contributes to the well-being of the community and supports individuals and families in need.
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Impact
July, 2024
North Fork Housing Alliance Inc's impact can be seen in the provision of low-cost housing for low-income families and individuals in Greenport, NY. Through the accounting of grants received, this organization has been able to purchase, improve, or construct residential units that are then sold or rented to those in need. With a reserve fund in place, North Fork Housing Alliance has successfully created housing opportunities for those who may have otherwise struggled to find affordable homes. Their five multi-family homes in Greenport, operated under the NY State Division of Housing and Community Renewal program, exemplify their commitment to providing housing solutions that consider rental charges and operating methods to better serve the community.
This information is meant to be a general summary of North Fork Housing Alliance 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: $36
- Program Service Revenue: $884,934
- Gross Receipts: $2,944,962
Assets and Liabilities:
- Total Assets: $3,639,213
- Total Liabilities: $3,858,884
- Net Assets: -$219,671
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$598,587
WASHING MACHINE INCOME
Revenue
$7,200
OTHER INCOME
Revenue
$279,147
Organization Details
Founding Year
1980
Principal Officer
Tanya Palmore
Main Address
116 SOUTH STREET, GREENPORT, NY, 11944
NTEE Category
Code: L21Z - Housing
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