Overview
What is Sh Housing Development Fund Corp?
Sh Housing Development Fund Corp is a nonprofit organization situated in New York City, specifically at 520 Eighth Avenue, 5th Floor. Their primary focus is to support subsidized housing for low-income senior citizens. They accomplish this mission by holding a promissory note from a related party and utilizing the proceeds from selling this note to further their cause. Additionally, the organization continues to promote its tax-exempt purpose by advocating for and aiding its parent organization. Upon the expiration of the tax credits, the organization plans to retain the property to continue serving its intended community.
Is Sh Housing Development Fund Corp legitimate?
Sh Housing Development Fund Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sh Housing Development Fund Corp 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 Sh Housing Development Fund Corp?
Sh Housing Development Fund Corp's mission is centered around providing subsidized housing for low-income senior citizens. The organization supports this cause by holding a promissory note from a related party and using the proceeds from its sale to continue facilitating its tax-exempt purpose. Upon the expiration of the tax credits, the organization plans to maintain the property in order to uphold its mission of supporting affordable housing for elderly individuals with limited income.
Who is the CEO of Sh Housing Development Fund Corp?
Stuart C Kaplan is the President/Ceo/Director of Sh Housing Development Fund Corp. The CEO's salary of Sh Housing Development Fund Corp is $0 and their total compensation is $1,101,575.
What is the revenue of Sh Housing Development Fund Corp?
Sh Housing Development Fund Corp's revenue in 2022 was $83,166.
Who are the executives of Sh Housing Development Fund Corp and what are their salaries?
There 3 volunteers at Sh Housing Development Fund Corp.
Here are 4 key members and their salaries (Sh Housing Development Fund Corp's CEO's salary is $0 and their total compensation is $1,101,575):
- Compensation: $0
- Related: $1,023,016
- Other: $78,559
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Sh Housing Development Fund Corp?
Sh Housing Development Fund Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Sh Housing Development Fund Corp
Sh Housing Development Fund Corp, as a mission-driven organization, is dedicated to supporting subsidized housing for low-income senior citizens. Through its activities, the corporation strives to provide a living space for this demographic, ensuring they can maintain a dignified and comfortable lifestyle. The organization serves this purpose by holding a promissory note from a related party, which it sold during the year. However, upon the expiration of the tax credits, Sh Housing Development Fund Corp will continue to own the property, utilizing it to further its mission of providing subsidized housing for senior citizens. By doing so, the organization contributes to the well-being of this vulnerable population, allowing them to age with dignity and security.
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Impact
October, 2024
Sh Housing Development Fund Corp plays a vital role in addressing housing needs for low-income senior citizens in New York. By providing subsidized housing, it helps to alleviate the financial burden on vulnerable seniors, ensuring they have access to safe and affordable living conditions.
Its recent activities, such as selling a promissory note and using the proceeds to support its parent organization, demonstrate a proactive approach to maintaining financial stability while fulfilling its mission. As the organization holds property post-expiration of tax credits, it can continue to uphold its commitment to subsidized housing, significantly impacting the quality of life for seniors who might otherwise struggle to find suitable living arrangements. Through these efforts, Sh Housing Development Fund Corp fosters a more inclusive community, contributing to the overall well-being of low-income seniors in New York.
This information is meant to be a general summary of Sh Housing Development Fund Corp. 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: $83,166
- Gross Receipts: $83,166
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROG-RELATED INTEREST
Revenue
$83,166
Organization Details
Founding Year
1979
Phone
(212) 971-7600Principal Officer
Stuart C Kaplan
Main Address
520 EIGHTH AVENUE 5TH FLOOR, NEW YORK, NY, 10018
NTEE Category
Code: L12 - Housing
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