Overview
What is Dupont Street Senior Hdfc C/O North Brooklyn Development Corp?
Dupont Street Senior HDFC, under the guidance of North Brooklyn Development Corp, is a nonprofit organization situated in Brooklyn, New York. It manages a 37,000-square-foot facility, providing affordable senior housing through 98 rented apartment units. The construction of this facility was funded by a HUD mortgage, and the ongoing operational expenses are primarily covered through tenant rentals and Section 8 rent subsidies. This nonprofit's mission revolves around offering secure and comfortable living spaces for low-income senior residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Dupont Street Senior Hdfc, associated with North Brooklyn Development Corp, has received a two-star rating from Charity Navigator, indicating a need for improvement. The organization demonstrates strong accountability measures, including an independent board of directors and a clean audit of financial statements, suggesting a commitment to transparency in governance and financial practices.
Despite these strengths, the nonprofit faces significant challenges that affect its overall score. The organization lacks key policies, such as a whistleblower policy and a document retention policy, which are critical for safeguarding against ethical breaches and ensuring proper management of organizational records. Additionally, the high liabilities to assets ratio raises concerns about financial stability, although the program expense ratio indicates that a substantial portion of its resources is directed towards its programming.
Overall, while Dupont Street Senior Hdfc has established a solid foundation with independent oversight and effective program spending, it must address its governance deficiencies and financial liabilities to improve its standing and enhance trust among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Dupont Street Senior Hdfc C/O North Brooklyn Development Corp legitimate?
Dupont Street Senior Hdfc C/O North Brooklyn Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dupont Street Senior Hdfc C/O North Brooklyn Development Corp 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: $170,094
For more financial information, click here
What is the mission statement of Dupont Street Senior Hdfc C/O North Brooklyn Development Corp?
Dupont Street Senior HDFC, under the auspices of North Brooklyn Development Corp, is dedicated to providing affordable senior housing. They operate a 37,000 square foot facility in an unspecified location, housing 98 senior residents. The construction of this facility was funded by a HUD mortgage, and the operational expenses are primarily covered by tenant rentals and Section 8 rent subsidies. The organization's mission is to provide a safe and affordable living space for low-income seniors, ensuring they can maintain their independence and quality of life.
Who is the CEO of Dupont Street Senior Hdfc C/O North Brooklyn Development Corp?
Richard Mazur is the Vice Preside of Dupont Street Senior Hdfc C/O North Brooklyn Development Corp.
What is the revenue of Dupont Street Senior Hdfc C/O North Brooklyn Development Corp?
Dupont Street Senior Hdfc C/O North Brooklyn Development Corp's revenue in 2022 was $1,085,591.
Who are the executives of Dupont Street Senior Hdfc C/O North Brooklyn Development Corp and what are their salaries?
The average compensation at Dupont Street Senior Hdfc C/O North Brooklyn Development Corp during 2022 was $34,019. There are 5 employees at Dupont Street Senior Hdfc C/O North Brooklyn Development Corp.
Here are 4 key members and their salaries:
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Where can I find the form 990 for Dupont Street Senior Hdfc C/O North Brooklyn Development Corp?
Dupont Street Senior Hdfc C/O North Brooklyn Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Dupont Street Senior Hdfc C/O North Brooklyn Development Corp
Dupont Street Senior HDFC, a nonprofit organization, is committed to providing affordable senior housing rental opportunities. Situated in Brooklyn, New York, this organization operates a spacious 37,000 square foot facility, which is fully occupied with 98 apartment units. The construction of this facility was made possible through funding obtained from a HUD mortgage. The organization's primary source of operating funds comes from rental income generated by the tenants and Section 8 rent subsidies. In essence, Dupont Street Senior HDFC plays a significant role in addressing the housing needs of low-income seniors, ensuring they have a secure and comfortable living environment.
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Impact
July, 2024
Dupont Street Senior HDFC, operated by North Brooklyn Development Corp, provides vital low-income senior housing in Brooklyn, NY. Its 98 apartment units serve as a crucial resource for elderly individuals in need of affordable housing. This initiative has a direct impact on the community by addressing the housing needs of economically disadvantaged seniors, ensuring they have a safe and comfortable place to live. The provision of housing through this HDFC not only supports the well-being of seniors but also contributes to the overall social welfare of the neighborhood.
This information is meant to be a general summary of Dupont Street Senior Hdfc C/O North Brooklyn Development Corp. 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: $2,626
- Program Service Revenue: $1,082,965
- Gross Receipts: $1,085,591
Assets and Liabilities:
- Total Assets: $3,201,368
- Total Liabilities: $8,439,839
- Net Assets: -$5,238,471
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW RENTAL HOUSING INCOME
Revenue
$1,078,723
LAUNDRY AND OTHER INCOME
Revenue
$4,242
Organization Details
Phone
(718) 389-9044Principal Officer
Richard Mazur
Main Address
148-150 HURON STREET, BROOKLYN, NY, 11222
NTEE Category
Code: L22 - Housing
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