Overview
What is Cypress Homes Hdfc?
Cypress Homes Hdfc is a nonprofit organization based in Brooklyn, New York, specifically at 625 Jamaica Ave. Their primary mission is to acquire and develop affordable housing for individuals of low income within the Brooklyn neighborhood. They follow a non-profit approach and aim to sell these properties to individuals who fall under the low-income bracket. Their activities encompass the acquisition and rehabilitation of properties, with a focus on providing affordable housing solutions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Cypress Homes HDFC has received a 79% rating from Charity Navigator, which reflects a solid performance in accountability and financial management. The organization boasts an impressive program expense ratio of 92.86%, indicating that a significant portion of its funds is allocated directly to its programs. Additionally, the charity has demonstrated strong governance practices with 88% of its board members being independent, which enhances its credibility and oversight.
While the charity's score highlights its strengths in governance and program spending, it does face a notable challenge with a liabilities to assets ratio of 149.69%. This figure suggests that the organization has more liabilities than assets, which may raise concerns about its financial stability in the long run. Overall, Cypress Homes HDFC showcases a commitment to transparency and effective program delivery, though attention to its financial liabilities may be necessary for sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Cypress Homes Hdfc legitimate?
Cypress Homes Hdfc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cypress Homes Hdfc 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: $0
For more financial information, click here
What is the mission statement of Cypress Homes Hdfc?
Cypress Homes Hdfc's mission is centered around the development of affordable housing. On a non-profit basis, the organization aims to acquire and develop residential properties, primarily for sale to individuals of low income. Their primary objective is to make housing more accessible for those who are financially disadvantaged. In addition to acquiring and rehabilitating affordable housing, they also rent out one property to contribute to this cause. The overarching goal of Cypress Homes Hdfc is to provide a decent living space for people in need, thereby improving their quality of life.
Who is the CEO of Cypress Homes Hdfc?
Michelle Neugebauer is the Secretary of Cypress Homes Hdfc.
What is the revenue of Cypress Homes Hdfc?
Cypress Homes Hdfc's revenue in 2022 was $95,803.
Who are the executives of Cypress Homes Hdfc and what are their salaries?
There 8 volunteers at Cypress Homes Hdfc.
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $180,576
- Other: $22,514
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $149,116
- Other: $8,875
Where can I find the form 990 for Cypress Homes Hdfc?
Cypress Homes Hdfc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cypress Homes Hdfc
Cypress Homes HDFC, a non-profit organization, is dedicated to a mission that revolves around the development of affordable housing for individuals with low income. The primary objective of this organization is to acquire and develop residential properties on a non-profit basis, with the intention of selling these properties to individuals who fall under the low-income category. By undertaking this mission, Cypress Homes HDFC plays a significant role in addressing the housing needs of a segment of the population that often struggles with affordability. In addition to acquiring and developing properties, the organization also manages one rental property, further expanding its reach in the realm of providing affordable housing solutions.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Cypress Homes HDFC plays a vital role in addressing the affordable housing crisis in Brooklyn, New York, significantly impacting the community by offering low-income individuals access to safe and stable living conditions. By acquiring and rehabilitating properties, the organization transforms neglected housing into viable homes, thus enhancing the overall quality of the neighborhood.
Through its mission to develop residential properties for low-income residents, Cypress Homes HDFC not only provides affordable rental options but also supports the financial stability of families who might otherwise struggle to find suitable housing in a competitive market. This initiative fosters community resilience and growth, ensuring that essential housing remains accessible to those in need, while also contributing to the long-term sustainability of the area.
By focusing on the development of affordable housing, Cypress Homes HDFC addresses systemic inequities in housing availability and affordability, illustrating a commitment to uplifting marginalized communities and promoting social equity in Brooklyn.
This information is meant to be a general summary of Cypress Homes Hdfc. 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.
- Program Service Revenue: $95,803
- Gross Receipts: $95,803
Assets and Liabilities:
- Total Assets: $815,042
- Total Liabilities: $1,220,188
- Net Assets: -$405,146
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$95,803
Organization Details
Founding Year
1998
Phone
(718) 647-2800Principal Officer
Michelle Neugebauer
Main Address
625 JAMAICA AVE, BROOKLYN, NY, 11208
NTEE Category
Code: L21 - Housing
If you are a representative of Cypress Homes Hdfc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.