Overview
What is Cabrini Gardens Senior Housing Development Fund Company Inc?
Cabrini Gardens Senior Housing Development Fund Company Inc is a not-for-profit organization situated in Hicksville, New York. Their primary mission is to provide 66 affordable rental housing units for individuals with limited means, as there was a lack of such housing options in Brookhaven, New York. To accomplish this, the company owns and manages a Section 202 HUD-financed project, specifically designed for the elderly. Their mission is to offer affordable housing for eligible low-income families and individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
Cabrini Gardens Senior Housing Development Fund Company Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial management. The organization's overall score is concentrated entirely on its accountability and finance practices, where it scored 94%. This high rating is indicative of the charity's responsible financial stewardship and effective governance.
The nonprofit boasts a fully independent board, with 100% of its members meeting the criteria for independence. It also excels in areas such as financial oversight, with a robust audit and oversight committee that has received top marks. Additionally, the organization has implemented essential policies for conflict of interest, whistleblower protection, and document retention, demonstrating a comprehensive approach to transparency and ethical practices.
Cabrini Gardens maintains a healthy financial profile, highlighted by a low liabilities-to-assets ratio of 1.09%, showcasing its strong financial health. Furthermore, with a program expense ratio of 87.55%, a significant majority of its budget is allocated directly to its programs, maximizing the impact on its community. Overall, this combination of strong governance and financial prudence positions Cabrini Gardens as a reputable nonprofit dedicated to serving its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Cabrini Gardens Senior Housing Development Fund Company Inc legitimate?
Cabrini Gardens Senior Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cabrini Gardens Senior 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: $106,692
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What is the mission statement of Cabrini Gardens Senior Housing Development Fund Company Inc?
Cabrini Gardens Senior Housing Development Fund Company Inc is committed to providing affordable housing. Operating on a not-for-profit basis, this organization manages a Section 202 HUD-financed project, catering specifically to eligible low-income families and individuals. Their mission is to facilitate housing solutions for individuals with limited means, as there may be a lack of adequate housing options available in certain areas. The organization provides 66 units of affordable rental housing, contributing to the well-being and comfort of these individuals.
Who is the CEO of Cabrini Gardens Senior Housing Development Fund Company Inc?
Richard Balcom is the President of Cabrini Gardens Senior Housing Development Fund Company Inc.
What is the revenue of Cabrini Gardens Senior Housing Development Fund Company Inc?
Cabrini Gardens Senior Housing Development Fund Company Inc's revenue in 2023 was $1,039,122.
Who are the executives of Cabrini Gardens Senior 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 Cabrini Gardens Senior Housing Development Fund Company Inc?
Cabrini Gardens Senior Housing Development Fund Company Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Cabrini Gardens Senior Housing Development Fund Company Inc
Cabrini Gardens Senior Housing Development Fund Company Inc, as a not-for-profit entity, is dedicated to providing affordable housing solutions for eligible low-income families and individuals. Their mission is to create a housing environment that caters to persons of limited means, addressing the absence of adequate housing options in certain areas. By owning and operating a Section 202 HUD-financed project, this organization plays a vital role in making housing more accessible and affordable for those who need it most. This mission allows Cabrini Gardens Senior Housing Development Fund Company Inc to contribute positively to its community, ensuring that individuals have a safe and affordable place to call home.
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Impact
July, 2024
Cabrini Gardens Senior Housing Development Fund Company Inc's impact lies in its provision of 66 units of affordable rental housing for persons of limited means in Brookhaven, New York, addressing the critical need for adequate housing in the area. By offering this essential service on a not-for-profit basis, the organization plays a significant role in supporting eligible low-income families and individuals in accessing safe and affordable living spaces. Through its dedicated mission to provide housing that is within reach for those in need, Cabrini Gardens contributes positively to the community by promoting stability, security, and overall well-being for its residents.
This information is meant to be a general summary of Cabrini Gardens Senior 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: $19,553
- Program Service Revenue: $1,016,699
- Gross Receipts: $1,039,122
Assets and Liabilities:
- Total Assets: $9,902,639
- Total Liabilities: $108,876
- Net Assets: $9,793,763
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUBSIDY REVENUE
Revenue
$743,719
PROGRAM SERVICE REVENU
Revenue
$272,980
Organization Details
Founding Year
2004
Phone
(516) 733-7032Principal Officer
Richard Balcom
Main Address
90 CHERRY LANE, HICKSVILLE, NY, 118016232
NTEE Category
Code: L21 - Housing
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