Overview
What is Rockland Home For The Aged Housing Development Fund Company Inc?
Rockland Home For The Aged Housing Development Fund Company Inc is a nonprofit organization situated in Suffern, New York. Its primary mission is to provide safe and affordable housing for low-income senior citizens. The organization is overseen by the U.S. Department of Housing and Urban Development (HUD), which regulates its rental charges and operating methods. HUD funds the organization, ensuring that tenants pay reduced rent, making living more affordable for them. The company manages and operates a senior citizen apartment complex, housing 113 units. With a team of six employees, the organization ensures that each tenant receives all the benefits they are entitled to, further reducing their living expenses.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Rockland Home For The Aged Housing Development Fund Company Inc has received a two-star rating from Charity Navigator, indicating a need for improvement. The overall score of 62% reflects a solid program expense ratio of 87.09%, suggesting that the majority of funds are directed towards its programs. However, the organization faces significant challenges in accountability and finance, particularly noted by the absence of financial statements.
The nonprofit demonstrates a strong governance structure with 100% of its board members being independent, which is a positive factor. Additionally, it has established conflict of interest, whistleblower, and document retention policies, showcasing its commitment to ethical standards. However, the lack of accessible financial documentation and transparency on its website is a notable limitation that could hinder stakeholder trust and engagement.
Furthermore, the organization's liabilities to assets ratio of 110.73% raises concerns about its financial health. While it maintains a high program expense ratio, the overall financial management practices need attention, particularly in making financial documents easily accessible and enhancing transparency to boost its accountability rating.
This AI summary has been generated from information found on Charity Navigator.
Is Rockland Home For The Aged Housing Development Fund Company Inc legitimate?
Rockland Home For The Aged Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rockland Home For The Aged 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: $409,423
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What is the mission statement of Rockland Home For The Aged Housing Development Fund Company Inc?
Rockland Home For The Aged Housing Development Fund Company Inc's mission is centered around providing safe and affordable housing for low-income senior citizens. The organization ensures that each tenant receives the benefits they are entitled to, thereby reducing their rental expenses and making living expenses more manageable. They oversee and manage a senior citizen apartment complex, comprising of 113 units, under the administration and regulations of the U.S. Department of Housing and Urban Development (HUD). Under this program, the organization offers housing to low-income senior citizens, with rental charges and operating methods regulated by HUD. The low rental charges are recovered by HUD.
Who is the CEO of Rockland Home For The Aged Housing Development Fund Company Inc?
Ira Perlstein is the Board Member of Rockland Home For The Aged Housing Development Fund Company Inc.
What is the revenue of Rockland Home For The Aged Housing Development Fund Company Inc?
Rockland Home For The Aged Housing Development Fund Company Inc's revenue in 2023 was $1,624,842.
Who are the executives of Rockland Home For The Aged Housing Development Fund Company Inc and what are their salaries?
The average compensation at Rockland Home For The Aged Housing Development Fund Company Inc during 2023 was $68,237. There are 6 employees at Rockland Home For The Aged Housing Development Fund Company Inc.
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Where can I find the form 990 for Rockland Home For The Aged Housing Development Fund Company Inc?
Rockland Home For The Aged Housing Development Fund Company Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Rockland Home For The Aged Housing Development Fund Company Inc
Rockland Home for the Aged Housing Development Fund Company Inc is dedicated to providing safe and affordable housing for low-income senior citizens. This mission is carried out by the organization owning, managing, and operating a senior citizen apartment complex consisting of 113 units. The organization is under the administration and regulation of the U.S. Department of Housing and Urban Development (HUD), which ensures that the rental charges and operating methods are in compliance with HUD regulations. The affordable rent for tenants is funded by HUD, enabling low-income senior citizens to secure housing without bearing an unreasonable financial burden. By offering such accommodations, Rockland Home for the Aged Housing Development Fund Company Inc plays a significant role in supporting the elderly community, ensuring they can live with dignity and security.
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Impact
August, 2024
Rockland Home For The Aged Housing Development Fund Company Inc's impact lies in providing safe and affordable housing for low-income senior citizens. Through its ownership, management, and operation of a senior citizen apartment complex comprising 113 units, the organization ensures that elderly individuals have access to a secure living environment. By participating in programs regulated by the U.S. Department of Housing and Urban Development (HUD), Rockland Home For The Aged helps reduce rental charges for tenants, making living more affordable for those in need. Overall, the organization plays a crucial role in supporting the well-being and housing security of low-income senior citizens in Suffern, NY.
This information is meant to be a general summary of Rockland Home For The Aged 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 2023.
- Investment Income: $1,590
- Program Service Revenue: $391,034
- Gross Receipts: $1,624,842
Assets and Liabilities:
- Total Assets: $5,822,475
- Total Liabilities: $6,447,755
- Net Assets: -$625,280
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$379,065
OTHER REVENUE
Revenue
$11,969
Organization Details
Founding Year
1980
Phone
(845) 357-9507Principal Officer
Ira Perlstein
Main Address
200 LAFAYETTE AVENUE, SUFFERN, NY, 109014712
NTEE Category
Code: L21Z - Housing
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