Overview
What is Homes For New Yorkers Inc?
Homes For New Yorkers Inc is a distinguished nonprofit organization situated in New York City. Their primary goal is to provide financial assistance in the form of loans and grants to various organizations that cater to social services and housing needs for individuals with low to moderate income levels. To achieve this mission, Homes For New Yorkers Inc employs various strategies, including grants, development projects, and even direct ownership of properties to ensure the upkeep of quality, affordable housing options. This organization plays a crucial role in addressing housing needs within the community, thereby contributing to the well-being of its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (54%)
Homes For New Yorkers Inc has received a low rating of 54%, reflecting significant concerns regarding its accountability and financial management practices. Notably, the organization has no independent board members, which raises questions about governance and oversight. Additionally, the absence of financial statements and key documents on its website further diminishes transparency.
Despite these shortcomings, the organization demonstrates a strong commitment to its programs, as evidenced by a program expense ratio of 90.52%. This indicates that a substantial portion of its funds is directed towards its mission-related activities. Furthermore, Homes For New Yorkers Inc has implemented a conflict of interest policy, whistleblower policy, and document retention practices, which are positive governance measures.
However, the charity's financial health appears to be a concern, with a liabilities to assets ratio of 63.26%. This suggests that a significant portion of the organization's assets is tied up in liabilities, which could affect its stability in the long term. Overall, while there are some positive aspects, substantial improvements in governance and financial transparency are critical for enhancing the organization's credibility and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Homes For New Yorkers Inc legitimate?
Homes For New Yorkers Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homes For New Yorkers 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 Homes For New Yorkers Inc?
Homes For New Yorkers Inc, as an organization, is committed to supporting and maintaining affordable and low-income housing. They accomplish this through various methods, such as providing grants, engaging in development projects, and at times, even becoming direct property owners. Their mission extends beyond just providing housing; they also offer loans and grants to organizations that deliver social services to individuals with low and moderate income levels.
Who is the CEO of Homes For New Yorkers Inc?
Adam Weinstein is the President/Ceo of Homes For New Yorkers Inc. The CEO's salary of Homes For New Yorkers Inc is $0 and their total compensation is $968,887.
What is the revenue of Homes For New Yorkers Inc?
Homes For New Yorkers Inc's revenue in 2022 was $604,728.
Who are the executives of Homes For New Yorkers Inc and what are their salaries?
Here are 5 key members and their salaries (Homes For New Yorkers Inc's CEO's salary is $0 and their total compensation is $968,887):
- Compensation: $0
- Related: $806,771
- Other: $162,116
- Compensation: $0
- Related: $316,782
- Other: $69,454
- Compensation: $0
- Related: $340,062
- Other: $74,966
- Compensation: $0
- Related: $337,028
- Other: $70,890
- Compensation: $0
- Related: $310,698
- Other: $57,805
Where can I find the form 990 for Homes For New Yorkers Inc?
Homes For New Yorkers Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Homes For New Yorkers Inc
Homes for New Yorkers Inc is dedicated to supporting and maintaining quality affordable and low-income housing. They accomplish this mission through various methods, including grants, development, and at times, direct ownership. In essence, the organization plays a significant role in providing financial assistance to organizations that cater to the housing and social service needs of individuals with low and moderate income levels. By offering loans and grants, Homes for New Yorkers Inc helps these organizations in their mission to provide safe and affordable living spaces for those in need.
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Impact
July, 2024
Homes For New Yorkers Inc plays a crucial role in supporting and maintaining quality affordable and low-income housing in New York. Through various methods such as grants, development projects, and direct ownership, the organization helps ensure that individuals with low and moderate incomes have access to safe and affordable housing. By providing loans and grants to organizations that offer social services and housing for this demographic, Homes For New Yorkers Inc directly contributes to addressing the housing needs of New Yorkers in need.
This information is meant to be a general summary of Homes For New Yorkers 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.
- Program Service Revenue: $604,728
- Gross Receipts: $604,728
Assets and Liabilities:
- Total Assets: $18,468,038
- Total Liabilities: $11,684,150
- Net Assets: $6,783,888
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME - N/R
Revenue
$604,728
Organization Details
Founding Year
1976
Phone
(212) 243-9090Principal Officer
Adam Weinstein
Main Address
902 BROADWAY 13TH FLR, NEW YORK, NY, 100106033
NTEE Category
Code: L22 - Housing
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