Overview
What is 400-408 Housing Development Fund Company Inc?
The 400-408 Housing Development Fund Company Inc, located in the heart of New York City, New York, is a nonprofit organization committed to providing clean and affordable housing solutions for low-income residents. Their primary mission is to address the housing needs of this demographic, ensuring they have access to comfortable living spaces. With their headquarters situated in Manhattan, they work relentlessly towards this goal, striving to make a difference in their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
The 400-408 Housing Development Fund Company Inc has received a Three-Star rating from Charity Navigator, indicating a respectable level of accountability and finance management. The score primarily derives from its strong performance in the Accountability & Finance category, reflecting that the organization operates with transparency and responsibility. The most recent fiscal year, FY2023, saw the organization maintain a solid financial standing.
Strengths of the organization include an independent board with 87% of its members being independent, ensuring that decisions are made with reduced conflicts of interest. The organization has also demonstrated effective governance through a robust conflict of interest policy and thorough documentation practices, such as maintaining board meeting minutes. Additionally, it boasts a commendable program expense ratio of 85.58%, indicating that a significant portion of its resources is directed towards its programs.
While the charity shows strong financial management, there are no noted limitations in the available data. This overall positive assessment suggests that 400-408 Housing Development Fund Company Inc is effectively utilizing its funds to support its mission while adhering to high standards of accountability.
This AI summary has been generated from information found on Charity Navigator.
Is 400-408 Housing Development Fund Company Inc legitimate?
400-408 Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 400-408 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 400-408 Housing Development Fund Company Inc?
The 400-408 Housing Development Fund Company Inc is dedicated to providing a vital service, ensuring that low-income residents in New York have access to clean and affordable housing. This mission is carried out with a strong commitment to the community, aiming to make a significant impact on the lives of those in need. The organization's primary goal is to provide affordable housing options, ensuring that everyone has a decent place to live, regardless of their financial circumstances. The company's activities are centered around this mission, working tirelessly to make a difference in the lives of those it serves.
Who is the CEO of 400-408 Housing Development Fund Company Inc?
Paul Moore is the Director of 400-408 Housing Development Fund Company Inc.
What is the revenue of 400-408 Housing Development Fund Company Inc?
400-408 Housing Development Fund Company Inc's revenue in 2022 was $4,578,663.
Who are the executives of 400-408 Housing Development Fund Company Inc and what are their salaries?
There 7 volunteers at 400-408 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
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Where can I find the form 990 for 400-408 Housing Development Fund Company Inc?
400-408 Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 400-408 Housing Development Fund Company Inc
400-408 Housing Development Fund Company Inc, as a not-for-profit organization, is dedicated to providing a vital service in the housing sector. Its mission is to offer clean and affordable housing solutions to residents with low incomes, working tirelessly to make a positive impact on the community. By providing housing, the company aims to enhance the living standards of its residents, enabling them to live comfortably and with dignity. The organization's commitment to affordable housing is evident in its mission, which is to serve as a beacon of hope for those in need, offering them a safe and affordable place to call home.
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Impact
August, 2024
The impact of 400-408 Housing Development Fund Company Inc is significant in providing clean, affordable housing to low-income residents in New York, NY. This organization plays a crucial role in addressing the housing needs of individuals and families who may struggle to afford suitable living conditions in an expensive city like New York. By offering affordable housing options, 400-408 Housing Development Fund Company Inc helps improve the quality of life for low-income residents, allowing them to live in safe and stable environments. This contributes to the overall well-being of the community and helps reduce housing insecurity among vulnerable populations.
This information is meant to be a general summary of 400-408 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: $1,768
- Program Service Revenue: $4,570,035
- Gross Receipts: $4,578,663
Assets and Liabilities:
- Total Assets: $12,561,449
- Total Liabilities: $4,380,977
- Net Assets: $8,180,472
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HUD SUBSIDIES
Revenue
$3,852,556
TENANT SUBSIDIES
Revenue
$717,479
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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