Overview
What is Berean Housing Development Fund Co Inc?
Berean Housing Development Fund Co Inc is a nonprofit organization situated in Brooklyn, New York, specifically at 1635-49 Bergen Street. Their primary mission is to offer residential housing to low-income elderly individuals. This mission is carried out through their 77-unit residential housing project, which is regulated by the United States Department of Housing and Urban Development (HUD) under the Section 202 Supportive Housing for the Elderly Program. The organization ensures that rent charges and operating methods are in line with HUD regulations. With a dedicated workforce of six employees, Berean Housing Development Fund Co Inc continuously strives to provide a supportive living environment for the elderly in its community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Berean Housing Development Fund Co Inc received a two-star rating from Charity Navigator, indicating that while the organization demonstrates some strengths, it also faces significant challenges in its accountability and financial practices. With an overall score of 67%, the organization excels in areas such as having a fully independent board and a strong program expense ratio, which illustrates its commitment to using funds for its mission-related activities.
However, the organization shows weaknesses in financial transparency and governance practices. The missing tax form, conflict of interest policy, whistleblower policy, and document retention policy raise concerns about its operational integrity and accountability to stakeholders. Additionally, a high liabilities-to-assets ratio suggests financial instability, which may pose challenges for future sustainability.
Overall, Berean Housing Development Fund Co Inc has established a solid foundation with its independent oversight and commitment to program expenses, but it must address its governance and financial reporting deficiencies to improve its rating and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Berean Housing Development Fund Co Inc legitimate?
Berean Housing Development Fund Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Berean 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: $151,509
For more financial information, click here
What is the mission statement of Berean Housing Development Fund Co Inc?
Berean Housing Development Fund Co Inc's mission is centered around providing residential housing for individuals who fall within the low-income elderly demographic. This mission is carried out meticulously, as evident in their 77-unit residential housing project in Brooklyn, New York. Regulated by the United States Department of Housing and Urban Development (HUD), the project adheres to specific rent charges and operating methods under the Section 202 Supportive Housing for the Elderly program. The organization's primary objective is to offer a supportive living environment for this specific group, ensuring they have access to necessary housing resources.
Who is the CEO of Berean Housing Development Fund Co Inc?
Dr Arlee Griffin Jr is the President of Berean Housing Development Fund Co Inc.
What is the revenue of Berean Housing Development Fund Co Inc?
Berean Housing Development Fund Co Inc's revenue in 2022 was $1,130,145.
Who are the executives of Berean Housing Development Fund Co Inc and what are their salaries?
The average compensation at Berean Housing Development Fund Co Inc during 2022 was $25,252. There are 6 employees and 8 volunteers at Berean Housing Development Fund Co Inc.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Berean Housing Development Fund Co Inc?
Berean Housing Development Fund Co Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Berean Housing Development Fund Co Inc
Berean Housing Development Fund Co Inc is an organization dedicated to providing residential housing for low-income elderly individuals. Their mission is to ensure that this vulnerable population has access to suitable living spaces. The organization carries out its mission through a 77-unit residential housing project in Brooklyn, New York. This project is regulated by the United States Department of Housing and Urban Development (HUD) under the Section 202 Supportive Housing for the Elderly Program. This regulatory framework ensures that the rent charges and operating methods are in compliance with established guidelines, providing a stable and affordable living environment for the elderly residents.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Berean Housing Development Fund Co Inc provides vital residential housing to low-income elderly individuals in Brooklyn, New York. This impact directly addresses the critical need for affordable and supportive housing for this vulnerable population. By offering 77 units regulated by the United States Department of Housing and Urban Development (HUD), the organization plays a significant role in ensuring the well-being and security of elderly residents in the community. Through its commitment to the mission of providing residential housing to low-income elderly individuals, Berean Housing Development Fund Co Inc contributes to the overall quality of life and stability of these individuals, making a tangible and meaningful difference in their lives.
This information is meant to be a general summary of Berean 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: $48
- Program Service Revenue: $1,128,624
- Gross Receipts: $1,130,145
Assets and Liabilities:
- Total Assets: $2,907,739
- Total Liabilities: $7,202,313
- Net Assets: -$4,294,574
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW-INCOME HSNG RENTAL
Revenue
$1,126,529
LAUNDRY & VENDING REVE
Revenue
$2,095
Organization Details
Founding Year
1983
Phone
(516) 285-7500Principal Officer
Dr Arlee Griffin Jr
Main Address
1635-49 BERGEN STREET, BROOKLYN, NY, 11233
NTEE Category
Code: L22 - Housing
If you are a representative of Berean Housing Development Fund Co Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.