Overview
What is 353-365 Housing Fund Development Fund Company Inc?
353-365 Housing Fund Development Fund Company Inc is a nonprofit organization situated in the heart of New York City, specifically at 494 Eighth Avenue, 19th Floor. Their primary mission is to offer clean and affordable housing solutions to 80 low-income families residing in New York, NY. Through their dedicated efforts, they aim to contribute positively to the community by providing essential housing needs.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 60% (Two-Star out of Four Stars)
The 353-365 Housing Fund Development Fund Company Inc received a Two-Star rating from Charity Navigator, indicating that it has room for improvement in its financial accountability and transparency. While the organization excels in having a majority of its board members as independent and maintains policies for conflict of interest and document retention, it lacks essential financial statements which significantly affects its score.
Strengths include a strong program expense ratio of 85.66%, suggesting that a large portion of its resources is directed towards fulfilling its mission. Additionally, the organization has shown no material diversion of assets, which reflects positively on its operational integrity. However, the absence of financial statements and a whistleblower policy raises concerns about transparency and governance practices.
Limitations in reporting and missing key policies may hinder trust and confidence among potential donors and stakeholders. To enhance its rating and effectiveness, the nonprofit should prioritize improving financial disclosures and establishing comprehensive policies that ensure accountability and encourage stakeholder engagement.
This AI summary has been generated from information found on Charity Navigator.
Is 353-365 Housing Fund Development Fund Company Inc legitimate?
353-365 Housing Fund Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 353-365 Housing Fund 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
For more financial information, click here
What is the mission statement of 353-365 Housing Fund Development Fund Company Inc?
The mission of 353-365 Housing Fund Development Fund Company Inc, as stated, is centered around providing affordable housing solutions. Specifically, their objective is to offer clean and reasonably priced accommodation to a significant number of low-income families. While the exact number of families they aim to assist is 80, the location is not specified in the provided information. This organization's mission is a vital contribution to ensuring housing equity and promoting social well-being for financially challenged families.
Who is the CEO of 353-365 Housing Fund Development Fund Company Inc?
Paul Moore is the Director of 353-365 Housing Fund Development Fund Company Inc.
What is the revenue of 353-365 Housing Fund Development Fund Company Inc?
353-365 Housing Fund Development Fund Company Inc's revenue in 2022 was $2,398,991.
Who are the executives of 353-365 Housing Fund Development Fund Company Inc and what are their salaries?
There 6 volunteers at 353-365 Housing Fund 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
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Where can I find the form 990 for 353-365 Housing Fund Development Fund Company Inc?
353-365 Housing Fund Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 353-365 Housing Fund Development Fund Company Inc
353-365 Housing Fund Development Fund Company Inc is dedicated to providing a vital service within its mission. This organization strives to make a significant impact by offering clean and affordable housing to 80 low-income families. By doing so, it contributes to the betterment of the community and improves the living conditions of these families, who may otherwise struggle to secure such accommodations. The organization's primary goal is to create a positive living environment for those in need, thereby promoting a sense of stability and well-being.
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Impact
August, 2024
353-365 Housing Fund Development Fund Company Inc's impact is significant as it works to provide clean, affordable housing to 80 low-income families in New York, NY. By focusing on this mission, the organization directly contributes to improving the living conditions and quality of life for these families. Additionally, their efforts help address the pressing issue of affordable housing in the city, ultimately making a positive difference in the community.
This information is meant to be a general summary of 353-365 Housing Fund 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: $1,332
- Program Service Revenue: $2,397,659
- Gross Receipts: $2,398,991
Assets and Liabilities:
- Total Assets: $7,712,330
- Total Liabilities: $3,774,041
- Net Assets: $3,938,289
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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
$1,810,794
TENANT SUBSIDIES
Revenue
$586,865
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: L21 - Housing
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