Overview
What is Boston Road Hdfc Inc Housing Development Fund Company Inc?
Boston Road Hdfc Inc Housing Development Fund Company Inc is a nonprofit organization situated in New York City, specifically on 494 Eighth Avenue, 19th Floor. Their primary mission is to provide 142 low-income families with clean and affordable housing in the Bronx, NY. This mission aligns with their commitment to enhancing living conditions for those in need, contributing positively to the local community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Boston Road Hdfc Inc Housing Development Fund Company Inc has received a Two-Star out of Four Star rating from Charity Navigator, reflecting a score of 60%. This rating indicates areas requiring attention, particularly in financial transparency and accountability, with significant deductions noted for the absence of financial statements and missing key documents on their website.
The organization demonstrates strengths in governance, boasting a fully independent board and adherence to conflict of interest policies. Furthermore, a commendable program expense ratio of 86.89% suggests that a substantial portion of funds is directed towards its programs, which is a positive aspect of its operational efficacy.
However, the lack of financial data and documentation, including missing tax forms and a whistleblower policy, raises concerns about transparency. The liabilities to assets ratio of 130.51% further highlights potential financial challenges that the organization may need to address for improved stability and trust.
This AI summary has been generated from information found on Charity Navigator.
Is Boston Road Hdfc Inc Housing Development Fund Company Inc legitimate?
Boston Road Hdfc Inc Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Boston Road Hdfc Inc 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: $0
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What is the mission statement of Boston Road Hdfc Inc Housing Development Fund Company Inc?
Boston Road HDFC Inc, a Housing Development Fund Company, is committed to providing clean and affordable housing to 142 low-income families in an unspecified location. The company's primary objective is to contribute positively to the community by ensuring that families in need have access to suitable housing. Through their initiatives, they aim to enhance the living standards of these families, promoting a sense of stability and well-being. The company's mission encompasses the provision of affordable housing, a fundamental right that is often overlooked in many communities. By doing so, Boston Road HDFC Inc is playing a significant role in uplifting the lives of the less fortunate.
Who is the CEO of Boston Road Hdfc Inc Housing Development Fund Company Inc?
Paul Moore is the Director of Boston Road Hdfc Inc Housing Development Fund Company Inc.
What is the revenue of Boston Road Hdfc Inc Housing Development Fund Company Inc?
Boston Road Hdfc Inc Housing Development Fund Company Inc's revenue in 2022 was $3,003,456.
Who are the executives of Boston Road Hdfc Inc Housing Development Fund Company Inc and what are their salaries?
There 7 volunteers at Boston Road Hdfc Inc Housing Development Fund Company Inc.
Here are 9 key members and their salaries:
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- Related: $108,000
- Other: $3,240
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- Related: $116,000
- Other: $0
Where can I find the form 990 for Boston Road Hdfc Inc Housing Development Fund Company Inc?
Boston Road Hdfc Inc Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Boston Road Hdfc Inc Housing Development Fund Company Inc
Boston Road HDFC Inc, a Housing Development Fund Company, is committed to providing clean and affordable housing to 142 low-income families. This nonprofit organization's mission is to make a significant impact in the lives of these families, ensuring they have a secure and comfortable living space. By offering affordable housing, Boston Road HDFC Inc is contributing to the betterment of its community, providing a sense of stability and improving the overall quality of life for these families.
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Impact
August, 2024
Boston Road Hdfc Inc Housing Development Fund Company Inc's impact lies in providing clean and affordable housing to 142 low-income families in the Bronx, NY. This initiative directly contributes to improving the quality of life for these families by offering them stable and secure living arrangements. By addressing the critical need for affordable housing in the community, Boston Road Hdfc Inc positively impacts the well-being and stability of these families, ultimately fostering a stronger and more vibrant community in the Bronx.
This information is meant to be a general summary of Boston Road Hdfc Inc 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 2022.
- Investment Income: $1,127
- Program Service Revenue: $2,854,499
- Gross Receipts: $3,003,456
Assets and Liabilities:
- Total Assets: $7,924,153
- Total Liabilities: $10,342,511
- Net Assets: -$2,418,358
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SECTION 8 SUBSIDIES
Revenue
$1,942,760
TENANT RENTS
Revenue
$900,832
OTHER TENANT CHARGES
Revenue
$10,907
Organization Details
Founding Year
1975
Phone
(212) 563-0310Principal Officer
Paul Moore
Main Address
494 EIGHTH AVENUE 19TH FLOOR, NEW YORK, NY, 10001
NTEE Category
Code: L20 - Housing
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