Overview
What is Milltwee Housing Development Fund Co Inc?
Milltwee Housing Development Fund Co Inc is a small, nonprofit organization situated in New York City, specifically at 145 East 126th Street, New York, NY 10035. Their primary mission is dedicated to providing housing solutions for elderly and handicapped families, ensuring they have a secure living environment. With a workforce of just two individuals, the organization is committed to this important cause, offering essential housing services to those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Milltwee Housing Development Fund Co Inc has received a two-star rating from Charity Navigator, indicating that while the organization demonstrates strong accountability and finance practices, there are significant concerns regarding its financial health. The organization achieves a high program expense ratio of 93.06%, which reflects its commitment to directing funds toward its mission-related activities. This is complemented by an independent board and robust financial auditing practices.
However, Milltwee faces challenges with a liabilities to assets ratio of 158.54%, which raises potential red flags about its financial sustainability. While the organization maintains a conflict of interest policy and documents board meeting minutes effectively, the high level of liabilities compared to its assets suggests that it may be operating under financial strain. Stakeholders may want to consider these factors in their assessments of the organization's overall viability.
This AI summary has been generated from information found on Charity Navigator.
Is Milltwee Housing Development Fund Co Inc legitimate?
Milltwee Housing Development Fund Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Milltwee Housing Development Fund Co 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: $115,106
For more financial information, click here
What is the mission statement of Milltwee Housing Development Fund Co Inc?
Milltwee Housing Development Fund Co Inc is committed to a mission of providing housing for elderly and handicapped families. This organization focuses on ensuring that these families have access to suitable living spaces. Through their activities, they strive to enhance the quality of life for these individuals, providing them with safe and comfortable housing. The mission of Milltwee Housing Development Fund Co Inc is to make a meaningful difference in the lives of elderly and handicapped families by providing them with the essential housing they need. The organization's efforts are aimed at promoting independence, dignity, and a sense of community for these families, enabling them to live with dignity and comfort.
Who is the CEO of Milltwee Housing Development Fund Co Inc?
Derrick Taitt is the Treasurer of Milltwee Housing Development Fund Co Inc.
What is the revenue of Milltwee Housing Development Fund Co Inc?
Milltwee Housing Development Fund Co Inc's revenue in 2022 was $1,010,844.
Who are the executives of Milltwee Housing Development Fund Co Inc and what are their salaries?
The average compensation at Milltwee Housing Development Fund Co Inc during 2022 was $57,553. There are 2 employees at Milltwee Housing Development Fund Co Inc.
Here are 3 key members and their salaries:
- 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 Milltwee Housing Development Fund Co Inc?
Milltwee Housing Development Fund Co Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Milltwee Housing Development Fund Co Inc
Milltwee Housing Development Fund Co Inc, as a nonprofit organization, is dedicated to providing housing solutions for elderly and handicapped families. With a strong mission, Milltwee focuses on offering suitable living spaces for these vulnerable groups, ensuring they can live comfortably and with dignity. The organization's primary objective is to provide housing, catering to the specific needs of the elderly and handicapped individuals, thereby enhancing their quality of life. Milltwee Housing Development Fund Co Inc's commitment extends beyond just housing; it encompasses a comprehensive approach to meeting the unique needs of the elderly and handicapped, ensuring they live in an environment that supports their well-being.
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Impact
August, 2024
Milltwee Housing Development Fund Co Inc's impact lies in providing housing to elderly and handicapped families in New York. By offering affordable and accommodating housing options, this organization plays a crucial role in improving the quality of life for these vulnerable populations. Through their mission of supporting elderly and handicapped families with housing needs, Milltwee Housing Development Fund Co Inc contributes to greater stability, comfort, and security for those in need within the community.
This information is meant to be a general summary of Milltwee Housing Development Fund Co 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: $72
- Program Service Revenue: $1,004,927
- Gross Receipts: $1,010,844
Assets and Liabilities:
- Total Assets: $3,743,254
- Total Liabilities: $5,497,785
- Net Assets: -$1,754,531
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$1,004,927
Organization Details
Founding Year
1989
Phone
(646) 672-1503Principal Officer
Derrick Taitt
Main Address
145 EAST 126TH STREET, NEW YORK, NY, 10035
NTEE Category
Code: L21Z - Housing
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