Overview
What is Bellwest Management Corporation?
Bellwest Management Corporation is a nonprofit organization situated in New York City, specifically at 902 Broadway, 13th Floor. Its primary mission is to provide financial support for the low-income housing initiatives undertaken by its sole stockholder, Phipps Houses. Originating as an entity to address the substandard housing conditions in the Bellevue South Urban Renewal Area, Bellwest Management Corporation managed Bellevue South Associates, LP (which has since been dissolved), the previous owner of Kips Bay Court. Through the operation of Kips Bay Court, the organization successfully maintained the elimination of such blighted housing, offering a significant number of subsidized, low-income housing units. The revenue generated from this venture supported other low-income housing activities within the Phipps Houses group. As of the provided information, the organization is planning to dissolve following the sale of Kips Bay Court.
Is Bellwest Management Corporation legitimate?
Bellwest Management Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Bellwest Management 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: $0
For more financial information, click here
What is the mission statement of Bellwest Management Corporation?
Bellwest Management Corporation was established with the goal of providing low-income housing. Originally, they managed Bellevue South Associates, LP, the former owner of Kips Bay Court. This housing complex was constructed to combat the blighted and deteriorated housing conditions in the Bellevue South Urban Renewal Area. By operating Kips Bay Court, Bellwest Management Corporation was successful in maintaining the elimination of such housing issues, offering a substantial number of subsidized low-income housing units. The revenue generated from this project supported other low-income housing activities within the Phipps Houses Group. After the sale of Kips Bay Court, Bellwest Management Corporation plans to dissolve.
Who is the CEO of Bellwest Management Corporation?
Adam Weinstein is the President/Ceo of Bellwest Management Corporation. The CEO's salary of Bellwest Management Corporation is $0 and their total compensation is $958,473.
What is the revenue of Bellwest Management Corporation?
Bellwest Management Corporation's revenue in 2020 was $0.
Who are the executives of Bellwest Management Corporation and what are their salaries?
Here are 5 key members and their salaries (Bellwest Management Corporation's CEO's salary is $0 and their total compensation is $958,473):
- Compensation: $0
- Related: $855,714
- Other: $102,759
- Compensation: $0
- Related: $313,472
- Other: $61,696
- Compensation: $0
- Related: $306,671
- Other: $60,907
- Compensation: $0
- Related: $284,686
- Other: $56,713
- Compensation: $0
- Related: $274,825
- Other: $46,622
Where can I find the form 990 for Bellwest Management Corporation?
Bellwest Management Corporation's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Bellwest Management Corporation
Bellwest Management Corporation was established with a mission to provide low and moderate income housing. Initially, the organization served as the managing general partner of Bellevue South Associates, LP, the former owner of Kips Bay Court. This housing complex was constructed to combat the blighted and deteriorated housing conditions in the Bellevue South Urban Renewal Area. By operating Kips Bay Court, Bellwest Management Corporation played a significant role in maintaining the elimination of such housing issues, providing a substantial number of subsidized low-income housing units. The revenue generated from Kips Bay Court supported other low-income housing activities within the Phipps Houses Group.
After the sale of Kips Bay Court, Bellwest Management Corporation has plans to dissolve. However, its legacy in providing affordable housing for low-income individuals remains. The organization's dedication to improving living conditions for those in need sets a strong foundation for future initiatives in the field of affordable housing. Despite its impending dissolution, Bellwest Management Corporation's impact on combating blighted housing conditions and providing subsidized housing units is noteworthy.
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Impact
October, 2024
Bellwest Management Corporation has had a significant impact on the landscape of low and moderate-income housing in New York City. By providing financial support for low-income housing initiatives, the organization has played a crucial role in addressing the urgent need for affordable living options, especially in areas facing blight and deterioration.
One of its noteworthy accomplishments includes its previous management of the Kips Bay Court, an initiative aimed at combating the poor housing conditions within the Bellevue South Urban Renewal Area. This development not only offered subsidized units but also helped revitalize a neighborhood that had suffered from neglect. By maintaining such housing, Bellwest contributed to the overall improvement of community living conditions and supported the broader mission of the Phipps Houses group in promoting affordable housing solutions.
The organization’s efforts have not only provided essential housing but have also generated revenue to sustain ongoing low-income housing activities, ensuring that support for vulnerable populations continues. Although Bellwest Management Corporation plans to dissolve following the sale of Kips Bay Court, its legacy includes a commitment to enhancing the quality of life for low-income residents in New York and mitigating the impacts of urban decay through accessible housing solutions.
This information is meant to be a general summary of Bellwest Management 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 2020.
Assets and Liabilities:
- Total Assets: $771,921
- Total Liabilities: $94,307
- Net Assets: $677,614
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Organization Details
Founding Year
1973
Phone
(212) 243-9090Principal Officer
Adam Weinstein
Main Address
902 BROADWAY 13TH FLOOR, NEW YORK, NY, 100106033
NTEE Category
Code: L200 - Housing
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