Overview
What is Bishop John R Mcgann Senior Housing Development Fund Co Inc?
Bishop John R Mcgann Senior Housing Development Fund Co Inc is a not-for-profit organization situated in Hickville, New York. The core mission of this organization is to offer affordable housing solutions for individuals with limited means. Specifically, they manage 125 units in Central Islp, New York, where there is a scarcity of adequate housing options. The organization operates a Section 202 HUD multi-family housing project, which is specifically designed for the elderly. Their primary goal is to provide affordable housing for eligible low-income families and individuals, contributing positively to their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star Rating
Bishop John R Mcgann Senior Housing Development Fund Co Inc has demonstrated strong performance in accountability and finance, earning a Four-Star rating from Charity Navigator. The charity's overall score reflects a solid commitment to maintaining transparent financial practices, with a significant focus on efficiency and responsible governance.
The organization boasts a fully independent board, which contributes to its high score in governance metrics, ensuring unbiased decision-making and oversight. With no reported material diversion of assets, and robust policies in place for conflicts of interest and whistleblower protections, the charity showcases its dedication to ethical management.
While the financial ratios indicate a healthy balance between assets and liabilities, and a commendable program expense ratio of nearly 82%, the data does not highlight specific programmatic outcomes or impact measures. This might signal a need for the organization to communicate its effectiveness beyond financial stewardship alone.
This AI summary has been generated from information found on Charity Navigator.
Is Bishop John R Mcgann Senior Housing Development Fund Co Inc legitimate?
Bishop John R Mcgann Senior Housing Development Fund Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bishop John R Mcgann Senior 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: $131,665
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What is the mission statement of Bishop John R Mcgann Senior Housing Development Fund Co Inc?
Bishop John R Mcgann Senior Housing Development Fund Co Inc's mission is centered around providing affordable housing. This non-profit organization operates a Section 202 HUD multifamily housing project specifically for the elderly, catering to low-income families and individuals. Their primary goal is to offer housing solutions to those with limited financial means, filling a gap where adequate housing is scarce. They operate on a not-for-profit basis, providing 125 units of affordable rental housing in Central Isip, New York.
Who is the CEO of Bishop John R Mcgann Senior Housing Development Fund Co Inc?
Richard Balcom is the President of Bishop John R Mcgann Senior Housing Development Fund Co Inc.
What is the revenue of Bishop John R Mcgann Senior Housing Development Fund Co Inc?
Bishop John R Mcgann Senior Housing Development Fund Co Inc's revenue in 2023 was $1,179,971.
Who are the executives of Bishop John R Mcgann Senior 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 John R Mcgann Senior Housing Development Fund Co Inc?
Bishop John R Mcgann Senior Housing Development Fund Co Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Bishop John R Mcgann Senior Housing Development Fund Co Inc
Bishop John R Mcgann Senior Housing Development Fund Co Inc, as a not-for-profit organization, is committed to providing affordable housing for eligible low-income families and individuals. The company's mission is to address the housing needs of individuals with limited means, as there is a lack of adequate housing options available for them. Through its Section 202 HUD multifamily housing project, Bishop John R Mcgann Senior Housing Development Fund Co Inc offers 125 units of affordable rental housing, contributing to the well-being of the community.
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Impact
July, 2024
Bishop John R Mcgann Senior Housing Development Fund Co Inc's impact lies in providing essential affordable housing for the elderly in Central Islip, New York. By owning and operating a Section 202 HUD multifamily housing project, the organization offers 125 units of affordable rental housing for individuals of limited means. This initiative addresses the critical lack of adequate housing options for low-income seniors in the area, enabling them to live in a safe and supportive environment. Consequently, Bishop John R Mcgann Senior Housing Development Fund Co Inc plays a crucial role in enhancing the quality of life for elderly residents and fulfilling its mission of providing affordable housing for eligible low-income families and individuals.
This information is meant to be a general summary of Bishop John R Mcgann Senior 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: $43,880
- Program Service Revenue: $1,124,367
- Gross Receipts: $1,179,971
Assets and Liabilities:
- Total Assets: $6,711,200
- Total Liabilities: $103,097
- Net Assets: $6,608,103
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUBSIDY REVENUE
Revenue
$635,596
PROGRAM SERVICE REVENU
Revenue
$488,771
Organization Details
Founding Year
1998
Phone
(516) 733-7032Principal Officer
Richard Balcom
Main Address
90 CHERRY LANE, HICKSVILLE, NY, 118016232
NTEE Category
Code: L22Z - Housing
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