Overview
What is Thorpe Housing Development Fund Company?
Thorpe Housing Development Fund Company is a nonprofit organization, specifically located at 6 Thorpe Drive, Sparkhill, New York 10976. Their primary mission is to provide affordable residential housing to low-income senior citizens and individuals with disabilities, in alignment with Section 221(D)(4) of the Housing Act of 1959. With a dedicated workforce of 14 employees, this organization has dedicated itself to making a significant impact in the housing sector, ensuring that these vulnerable groups have access to safe and affordable living spaces.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 83% (Three-Star out of Four Star rating)
Thorpe Housing Development Fund Company has earned a solid Three-Star rating with an overall score of 83%, indicating a strong commitment to accountability and financial practices. The organization's score is derived entirely from its Accountability & Finance metrics, showcasing a well-managed structure that is responsive to best practices in nonprofit governance.
Strengths of the organization include a fully independent board with excellent oversight mechanisms, as evidenced by perfect scores in areas such as financial statements and conflict of interest policies. The program expense ratio is notably high at 90.28%, suggesting that a significant portion of its resources directly supports its mission-related activities, which is a positive sign for potential donors.
However, the organization has room for improvement, particularly regarding its liabilities to assets ratio, which stands at 64.31%. While this is not an alarming figure, it indicates that the organization carries a significant amount of liabilities relative to its assets. Overall, Thorpe Housing Development Fund demonstrates strong financial accountability, although there are areas where financial health could be further optimized.
This AI summary has been generated from information found on Charity Navigator.
Is Thorpe Housing Development Fund Company legitimate?
Thorpe Housing Development Fund Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Thorpe Housing Development Fund Company 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: $483,344
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What is the mission statement of Thorpe Housing Development Fund Company?
The Thorpe Housing Development Fund Company is dedicated to providing affordable residential housing for low-income senior citizens and individuals with disabilities. This is accomplished under Section 221(D)(4) of the Housing Act of 1959. The organization's primary mission is to ensure that these vulnerable groups have access to suitable living accommodations, thereby enhancing their quality of life. By providing affordable housing, the company aims to alleviate the financial burden often associated with securing suitable living arrangements for these groups. The organization's activities are in line with the Housing Act of 1959, specifically Section 221(D)(4), which focuses on promoting affordable housing options for specific demographics.
Who is the CEO of Thorpe Housing Development Fund Company?
Matthew Janeczko is the President of Thorpe Housing Development Fund Company.
What is the revenue of Thorpe Housing Development Fund Company?
Thorpe Housing Development Fund Company's revenue in 2023 was $3,957,841.
Who are the executives of Thorpe Housing Development Fund Company and what are their salaries?
The average compensation at Thorpe Housing Development Fund Company during 2023 was $34,525. There are 14 employees at Thorpe Housing Development Fund Company.
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Where can I find the form 990 for Thorpe Housing Development Fund Company?
Thorpe Housing Development Fund Company's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Thorpe Housing Development Fund Company
Thorpe Housing Development Fund Company, as a nonprofit organization, is dedicated to providing affordable residential housing for low-income senior citizens and individuals with disabilities. This mission is carried out under Section 221(D)(4) of the Housing Act of 1959. The company's primary goal is to ensure that these vulnerable groups have access to safe and affordable living spaces, thereby enhancing their quality of life. By providing such housing, Thorpe Housing Development Fund Company plays a significant role in supporting the well-being of its community's elderly and disabled members, thereby contributing to a more inclusive and equitable society.
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Impact
August, 2024
Thorpe Housing Development Fund Company plays a crucial role in providing affordable residential housing to low-income senior citizens and the handicapped under Section 221(D)(4) of the Housing Act of 1959. By offering housing options for these vulnerable populations in Sparkhill, NY, the organization directly addresses the pressing issue of housing affordability in the community. Their impact can be felt in the improved quality of life and stability that their housing solutions bring to those in need, enabling them to live with dignity and security. Through their focused mission, Thorpe Housing Development Fund Company contributes significantly to creating a more inclusive and supportive environment for low-income seniors and the handicapped in Sparkhill.
This information is meant to be a general summary of Thorpe Housing Development Fund Company. 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: $97,628
- Program Service Revenue: $3,821,297
- Gross Receipts: $3,957,841
Assets and Liabilities:
- Total Assets: $19,901,754
- Total Liabilities: $12,800,233
- Net Assets: $7,101,521
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SUBSIDY INCOME
Revenue
$2,740,162
AFFORDABLE HOUSING REN
Revenue
$1,081,135
Organization Details
Founding Year
1978
Phone
(845) 359-0454Principal Officer
Matthew Janeczko
Main Address
6 THORPE DRIVE, SPARKHILL, NY, 10976
NTEE Category
Code: L210 - Housing
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