Overview
What is Shorefront Towers Housing Development Fund Corporation?
Shorefront Towers Housing Development Fund Corporation is a not-for-profit organization situated in New York City, specifically at 55 Water Street, 46th Floor. Their primary mission is to provide housing for the elderly, offering a 116-unit residential apartment complex. This charitable support aims to cater to individuals who may require such assistance, further emphasizing their commitment to elderly welfare. The corporation operates within the boundaries of New York State.
Official website here: www.mjhs.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81% (Three-Star out of Four Star rating)
Shorefront Towers Housing Development Fund Corporation has received a solid score of 81%, indicating a commendable level of accountability and financial health. The rating reflects a comprehensive evaluation based entirely on accountability metrics, demonstrating the organization's commitment to transparency and responsible management of funds.
The nonprofit showcases several strengths, including a majority of independent board members and a strong audit and oversight committee. With a program expense ratio of 88.75%, the organization effectively channels most of its resources towards its mission. Additionally, the presence of policies for conflict of interest and whistleblower protections further emphasizes its dedication to ethical governance.
However, while the organization has proven its financial integrity and operational transparency, the rating does not provide insights into program outcomes or the broader impact of its initiatives. This limitation suggests that while the organization is well-managed, further information about the effectiveness of its programs would be beneficial for potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Shorefront Towers Housing Development Fund Corporation legitimate?
Shorefront Towers Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Shorefront Towers Housing Development Fund Corporation 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: $366,279
For more financial information, click here
Official website here: www.mjhs.org
What is the mission statement of Shorefront Towers Housing Development Fund Corporation?
The Shorefront Towers Housing Development Fund Corporation is dedicated to providing housing for the elderly and individuals in need of charitable support. Operating a 116-unit, not-for-profit residential apartment building complex, the corporation serves as a sanctuary for these individuals, offering them a secure living environment. The organization's primary mission is to ensure that the elderly and those in need have access to affordable housing and necessary support. The Shorefront Towers Complex not only provides a place to live but also fosters a sense of community and care among its residents.
Official website here: www.mjhs.org
Who is the CEO of Shorefront Towers Housing Development Fund Corporation?
David Wagner is the Ceo/President of Shorefront Towers Housing Development Fund Corporation. The CEO's salary of Shorefront Towers Housing Development Fund Corporation is $0 and their total compensation is $1,255,914.
Official website here: www.mjhs.org
What is the revenue of Shorefront Towers Housing Development Fund Corporation?
Shorefront Towers Housing Development Fund Corporation's revenue in 2022 was $1,629,502.
Official website here: www.mjhs.org
Who are the executives of Shorefront Towers Housing Development Fund Corporation and what are their salaries?
There 3 volunteers at Shorefront Towers Housing Development Fund Corporation.
Here are 9 key members and their salaries (Shorefront Towers Housing Development Fund Corporation's CEO's salary is $0 and their total compensation is $1,255,914):
- Compensation: $0
- Related: $1,134,355
- Other: $121,559
- Compensation: $0
- Related: $992,892
- Other: $98,713
- Compensation: $0
- Related: $626,673
- Other: $107,067
- Compensation: $0
- Related: $648,617
- Other: $58,110
- Compensation: $0
- Related: $508,818
- Other: $125,964
- Compensation: $0
- Related: $509,863
- Other: $21,948
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mjhs.org
Where can I find the form 990 for Shorefront Towers Housing Development Fund Corporation?
Shorefront Towers Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mjhs.org
Learn more at the official website: www.mjhs.org
Mission Statement of Shorefront Towers Housing Development Fund Corporation
Shorefront Towers Housing Development Fund Corporation is a not-for-profit organization committed to providing housing for the elderly and those in need of charitable support. Operating a 116-unit residential apartment building complex, this corporation serves as a haven for the elderly, offering them a place to call home. The mission of Shorefront Towers is multifaceted, aiming to provide not just a living space, but also support for those who may require it. This mission is carried out through the operation of the complex, which is specially designed to cater to the needs of its elderly residents. The corporation's work is instrumental in providing a safe and secure living environment for its residents, ensuring they have access to the necessities they require to live comfortably.
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Impact
July, 2024
Shorefront Towers Housing Development Fund Corporation's impact is evident in its provision of essential housing services to the elderly and individuals in need of charitable support. Operating a 116-unit residential apartment building complex in New York, this organization plays a vital role in addressing the housing needs of vulnerable populations. By offering safe and affordable housing options, Shorefront Towers contributes to enhancing the quality of life for its residents and supporting the community's well-being. The organization's dedication to providing housing opportunities demonstrates a commitment to improving the lives of those in need, fostering a sense of security and stability for its residents.
This information is meant to be a general summary of Shorefront Towers Housing Development Fund Corporation. 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: $4,082
- Program Service Revenue: $1,621,156
- Gross Receipts: $1,629,502
Assets and Liabilities:
- Total Assets: $8,590,027
- Total Liabilities: $11,692,698
- Net Assets: -$3,102,671
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,621,156
Organization Details
Founding Year
1994
Phone
(718) 491-7208Principal Officer
David Wagner
Main Address
55 WATER ST 46TH FLOOR, NEW YORK, NY, 10041
Website
www.mjhs.orgNTEE Category
Code: L20 - Housing
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