Overview
What is Woodysun Housing Development Fund Corp?
Woodysun Housing Development Fund Corp is a nonprofit organization established in 1979, located in Sunnyside, New York. The primary purpose of this organization is to develop and manage a 78-unit residential complex for elderly, low-income individuals, in compliance with Section 202 of the National Housing Act. The project, situated in Woodside, Queens, New York, is their main focus and mission. The company employs a small team of three individuals, dedicated to fulfilling their mission of providing housing for the elderly in need.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 67%, Two-Star out of Four Star rating.
WoodySun Housing Development Fund Corp has received a Two-Star rating from Charity Navigator, indicating some areas of concern despite several strengths. The organization demonstrates a strong commitment to financial transparency, with a perfect score in independent board membership and a solid program expense ratio of 88.23%, suggesting that a significant portion of its funds is directed toward its mission.
However, the nonprofit faces challenges reflected in its financial health, particularly a high liabilities to assets ratio of 156.47%. This could indicate potential financial instability, which may impact its ability to sustain operations in the long term. While the organization has established a majority-independent board and adheres to good governance practices, these financial concerns warrant attention from potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Woodysun Housing Development Fund Corp legitimate?
Woodysun Housing Development Fund Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Woodysun 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: $161,349
For more financial information, click here
What is the mission statement of Woodysun Housing Development Fund Corp?
Woodysun Housing Development Fund Corp is a not-for-profit organization established in 1979 with the primary mission of developing and operating a housing project. This project is specifically designed for elderly individuals who fall under the category of low income. The organization's goal is to provide suitable housing for this demographic, as outlined in Section 202 of the National Housing Act. The project, located in an unspecified location, consists of a residential apartment building complex with 78 units. The organization's work aims to contribute positively to the living conditions of elderly individuals with limited financial resources.
Who is the CEO of Woodysun Housing Development Fund Corp?
Leslie Heredia is the President of Woodysun Housing Development Fund Corp.
What is the revenue of Woodysun Housing Development Fund Corp?
Woodysun Housing Development Fund Corp's revenue in 2022 was $1,577,449.
Who are the executives of Woodysun Housing Development Fund Corp and what are their salaries?
The average compensation at Woodysun Housing Development Fund Corp during 2022 was $53,783. There are 3 employees and 6 volunteers at Woodysun Housing Development Fund Corp.
Here are 6 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Woodysun Housing Development Fund Corp?
Woodysun Housing Development Fund Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Woodysun Housing Development Fund Corp
Woodysun Housing Development Fund Corp, established in 1979, is a nonprofit organization with a mission to develop and operate a housing project catering to elderly individuals of low income. This project, known as the Woodside Queens complex, comprises 78 residential units. The organization's primary goal is to provide a suitable living environment for this specific demographic, ensuring they have access to affordable housing. By undertaking this mission, Woodysun Housing Development Fund Corp contributes to the well-being of elderly individuals, offering them a secure and comfortable living situation.
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Impact
August, 2024
Woodysun Housing Development Fund Corp's impact lies in providing safe and affordable housing for elderly individuals of low income. By developing and operating a 78-unit residential apartment building complex in Woodside, Queens, New York, this organization addresses a critical need for housing among vulnerable populations. Through its mission to serve elderly persons in need, Woodysun Housing Development Fund Corp contributes to improving the quality of life for low-income seniors in the Sunnyside community. Their work exemplifies a commitment to housing equity and ensuring that all individuals have access to suitable living arrangements regardless of their financial circumstances.
This information is meant to be a general summary of Woodysun 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.
- Investment Income: $562
- Program Service Revenue: $253,840
- Gross Receipts: $1,577,449
Assets and Liabilities:
- Total Assets: $3,018,896
- Total Liabilities: $4,723,678
- Net Assets: -$1,704,782
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$253,840
Organization Details
Founding Year
1979
Phone
(212) 243-9090Principal Officer
Leslie Heredia
Main Address
44-20 64TH STREET, SUNNYSIDE, NY, 11377
NTEE Category
Code: L21 - Housing
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