Overview
What is George Link Jr Apartments Housing Development Fund Company Inc?
George Link Jr Apartments Housing Development Fund Company Inc is a nonprofit organization situated in Hicksville, New York, specifically at 90 Cherry Lane. Their primary mission is to offer 76 units of affordable housing for individuals with limited means, as there's a lack of adequate housing options in Coram, New York. The organization operates a Section 202 HUD multifamily project, which is specifically designed for the elderly. Their core activity is to provide affordable housing solutions for eligible low-income families and individuals.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 79%, Three-Star out of Four Star rating.
George Link Jr Apartments Housing Development Fund Company Inc demonstrates a solid commitment to accountability and finance, earning a commendable score of 79%. The rating is based solely on their accountability and finance measures, indicating that the organization manages its funds responsibly and efficiently. The presence of a fully independent board and a dedicated audit and oversight committee further enhances their credibility.
Strengths noted in the review include a high program expense ratio of 87.20%, which shows that a significant portion of expenditures goes directly to programs rather than administrative costs. Additionally, the organization has robust policies in place for conflict of interest, whistleblower protections, and document retention, all of which contribute to its transparent operations.
However, a notable limitation is the organization's liabilities to assets ratio of 70.79%, which raises concerns about financial stability. This could indicate potential risks regarding the organization's financial health and ability to sustain its operations in the long term. Overall, while the organization showcases strong governance, attention may be needed on its financial liabilities.
This AI summary has been generated from information found on Charity Navigator.
Is George Link Jr Apartments Housing Development Fund Company Inc legitimate?
George Link Jr Apartments Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. George Link Jr Apartments 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: $132,747
For more financial information, click here
What is the mission statement of George Link Jr Apartments Housing Development Fund Company Inc?
George Link Jr Apartments Housing Development Fund Company Inc's mission is centered around providing affordable housing. Operating on a not-for-profit basis, this organization provides 76 units of affordable rental housing for individuals and families with limited means. The company's primary objective is to cater to this demographic, as there was a lack of adequate housing options available for them. By offering affordable housing, the organization aims to contribute positively to the community, ensuring that everyone has access to a decent living space.
Who is the CEO of George Link Jr Apartments Housing Development Fund Company Inc?
Richard Balcom is the President of George Link Jr Apartments Housing Development Fund Company Inc.
What is the revenue of George Link Jr Apartments Housing Development Fund Company Inc?
George Link Jr Apartments Housing Development Fund Company Inc's revenue in 2023 was $1,624,520.
Who are the executives of George Link Jr Apartments Housing Development Fund Company 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 George Link Jr Apartments Housing Development Fund Company Inc?
George Link Jr Apartments Housing Development Fund Company Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of George Link Jr Apartments Housing Development Fund Company Inc
George Link Jr Apartments Housing Development Fund Company Inc is dedicated to providing affordable housing for eligible low-income families and individuals. Operating on a not-for-profit basis, this organization offers 76 units of affordable rental housing in Coram, New York. The lack of adequate housing for such individuals in the area prompted the establishment of this project, which is a Section 202 HUD multifamily project specifically designed for the elderly. The mission of George Link Jr Apartments Housing Development Fund Company Inc is to contribute to the community by offering affordable housing solutions, thereby improving the living standards of those in need.
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Impact
July, 2024
The George Link Jr Apartments Housing Development Fund Company Inc provides essential affordable housing for low-income individuals and families in Coram, New York. By offering 76 units of affordable rental housing, the organization addresses a crucial need in the community where adequate housing options are limited for individuals with limited means. Through their mission to provide affordable housing, this organization makes a direct impact by ensuring that eligible low-income families and individuals have a safe and stable place to call home.
This information is meant to be a general summary of George Link Jr Apartments 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 2023.
- Investment Income: $56,370
- Program Service Revenue: $1,566,387
- Gross Receipts: $1,624,520
Assets and Liabilities:
- Total Assets: $3,709,268
- Total Liabilities: $2,626,149
- Net Assets: $1,083,119
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUBSIDY REVENUE
Revenue
$1,170,865
PROGRAM SERVICE REVENU
Revenue
$395,522
Organization Details
Founding Year
1990
Phone
(516) 733-7032Principal Officer
Richard Balcom
Main Address
90 CHERRY LANE, HICKSVILLE, NY, 118016232
NTEE Category
Code: L21 - Housing
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