Overview
What is Bishop Gerald J Ryan Housing Development Fund Co Inc?
Bishop Gerald J Ryan Housing Development Fund Co Inc is a nonprofit organization situated in Hicksville, New York, specifically at 90 Cherry Lane. Their primary mission is to provide affordable housing solutions to individuals and families with limited means. They have successfully established 75 units of rental housing in Hampton Bays, an area where adequate housing options are scarce. The organization operates under Section 202 of HUD, providing a multi-family project tailored for the elderly. Their primary objective is to ensure that low-income families and individuals can access reasonably priced housing options.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating from Charity Navigator.
Bishop Gerald J Ryan Housing Development Fund Co Inc has achieved a solid rating of 79%, which reflects a strong performance in accountability and finance. The organization is noted for its commitment to transparency, as evidenced by its full score for having a majority of independent board members and robust financial oversight practices. Their program expense ratio is particularly impressive, with 86.47% of expenses directed towards their programs.
The organization also demonstrates sound governance practices, including having a conflict of interest policy, a whistleblower policy, and proper document retention procedures. These factors contribute to a positive assessment of the charity’s financial health and operational integrity. However, the rating does highlight some limitations, specifically in the liabilities to assets ratio, which received no points, indicating potential areas for improvement in managing their financial obligations relative to their assets.
Overall, Bishop Gerald J Ryan Housing Development Fund Co Inc appears to be a reliable nonprofit with a focus on accountability. While there are some financial metrics that could be enhanced, the organization’s strong governance and high percentage of program spending suggest a commitment to effectively serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Bishop Gerald J Ryan Housing Development Fund Co Inc legitimate?
Bishop Gerald J Ryan Housing Development Fund Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bishop Gerald J Ryan 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: $124,714
For more financial information, click here
What is the mission statement of Bishop Gerald J Ryan Housing Development Fund Co Inc?
Bishop Gerald J Ryan Housing Development Fund Co Inc's mission is centered around providing affordable housing. The organization operates a Section 202 HUD multi-family project specifically for the elderly. Their primary goal is to offer housing solutions to eligible low-income families and individuals on a not-for-profit basis. Currently, they provide 75 units of affordable rental housing in an area where such housing options are limited.
Who is the CEO of Bishop Gerald J Ryan Housing Development Fund Co Inc?
Richard Balcom is the President of Bishop Gerald J Ryan Housing Development Fund Co Inc.
What is the revenue of Bishop Gerald J Ryan Housing Development Fund Co Inc?
Bishop Gerald J Ryan Housing Development Fund Co Inc's revenue in 2023 was $1,590,812.
Who are the executives of Bishop Gerald J Ryan Housing Development Fund Co Inc and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Bishop Gerald J Ryan Housing Development Fund Co Inc?
Bishop Gerald J Ryan Housing Development Fund Co Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Bishop Gerald J Ryan Housing Development Fund Co Inc
Bishop Gerald J Ryan Housing Development Fund Co Inc is a non-profit organization with a mission to provide affordable housing for eligible low-income families and individuals. Established on a not-for-profit basis, this organization operates a Section 202 HUD multifamily project, offering 75 units of affordable rental housing in Hampton Bays, New York. Recognizing the lack of adequate housing for individuals with limited means in this area, Bishop Gerald J Ryan Housing Development Fund Co Inc plays a crucial role in addressing this need, ensuring that these individuals have access to affordable housing options.
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Impact
July, 2024
The Bishop Gerald J Ryan Housing Development Fund Co Inc's impact is providing 75 units of affordable rental housing for persons of limited means in Hampton Bays, New York, where no adequate housing exists for such individuals. This organization plays a crucial role in addressing the housing needs of low-income families and individuals in the community, ensuring that they have access to safe and affordable housing options.
This information is meant to be a general summary of Bishop Gerald J Ryan 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 2023.
- Investment Income: $41,618
- Program Service Revenue: $1,538,838
- Gross Receipts: $1,590,812
Assets and Liabilities:
- Total Assets: $3,152,447
- Total Liabilities: $2,584,913
- Net Assets: $567,534
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUBSIDY REVENUE
Revenue
$1,231,766
PROGRAM SERVICE REVENU
Revenue
$307,072
Organization Details
Founding Year
1990
Phone
(516) 733-7032Principal Officer
Richard Balcom
Main Address
90 CHERRY LANE, HICKSVILLE, NY, 118016232
NTEE Category
Code: P75Z - Human services
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