Overview
What is Southwest 141 Street Housing Development Fund Company Inc?
Southwest 141 Street Housing Development Fund Company Inc, situated in Garden City, New York, is a nonprofit organization with a mission to offer affordable housing solutions. Specifically, they specialize in providing rental apartments for elderly individuals, persons with disabilities, and those with very low income, housing a total of 69 units. With a modest workforce of five employees, this organization plays a crucial role in addressing housing needs within its community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Southwest 141 Street Housing Development Fund Company Inc has earned a Three-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial management. The organization’s overall score is entirely based on its Accountability & Finance score, which stands at 79%. This indicates a reliable management of resources, fostering trust among stakeholders and potential donors.
The organization showcases several strengths, including a fully independent board comprised of eight members, excellent oversight through its audit committee, and a robust conflict of interest policy. Notably, it demonstrates a high program expense ratio of 93.27%, suggesting that a significant portion of its funds is directed towards its programs, rather than administrative costs.
While the organization excels in various areas, the overall rating indicates room for improvement. Maintaining transparency and continually enhancing financial practices will be vital for sustaining donor confidence and maximizing its impact within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Southwest 141 Street Housing Development Fund Company Inc legitimate?
Southwest 141 Street Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southwest 141 Street 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: $181,486
For more financial information, click here
What is the mission statement of Southwest 141 Street Housing Development Fund Company Inc?
Southwest 141 Street Housing Development Fund Company Inc is dedicated to providing rental apartments for individuals who fall into one or more of the following categories: the elderly, persons with disabilities, and those with very low income. The company's primary mission is to cater to the housing needs of these groups, ensuring they have access to suitable living spaces. Through its operations, the corporation offers 69 rental apartments, serving as a vital resource for these individuals. The company's mission is centered around promoting inclusive housing opportunities and supporting the most vulnerable members of society.
Who is the CEO of Southwest 141 Street Housing Development Fund Company Inc?
Msgr Kevin Nelan is the President / Director of Southwest 141 Street Housing Development Fund Company Inc.
What is the revenue of Southwest 141 Street Housing Development Fund Company Inc?
Southwest 141 Street Housing Development Fund Company Inc's revenue in 2022 was $1,766,309.
Who are the executives of Southwest 141 Street Housing Development Fund Company Inc and what are their salaries?
The average compensation at Southwest 141 Street Housing Development Fund Company Inc during 2022 was $36,297. There are 5 employees at Southwest 141 Street Housing Development Fund Company 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 Southwest 141 Street Housing Development Fund Company Inc?
Southwest 141 Street Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southwest 141 Street Housing Development Fund Company Inc
Southwest 141 Street Housing Development Fund Company Inc is dedicated to providing a vital service within its mission. This nonprofit organization focuses on offering rental apartments specifically for elderly individuals, people with disabilities, and those with very low income. By providing these apartments, the company aims to cater to the housing needs of these groups, ensuring they have access to safe and suitable living spaces. The corporation's mission is a testament to its commitment to empowering and supporting vulnerable populations, thereby contributing to their overall well-being and quality of life.
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Impact
August, 2024
Southwest 141 Street Housing Development Fund Company Inc's impact lies in providing essential housing opportunities for vulnerable populations in Garden City, NY. Through the ownership and operation of 69 rental apartments, the organization supports elderly persons, individuals with disabilities, and those with very low incomes. By offering affordable and safe housing options, Southwest 141 Street enables these individuals to live independently and with dignity, contributing to their overall well-being and quality of life. This impact is particularly significant in addressing housing challenges faced by marginalized groups and fostering a sense of community within the area.
This information is meant to be a general summary of Southwest 141 Street 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 2022.
- Investment Income: $6,329
- Program Service Revenue: $1,759,980
- Gross Receipts: $1,766,309
Assets and Liabilities:
- Total Assets: $7,661,027
- Total Liabilities: $12,928,586
- Net Assets: -$5,267,559
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REVENUE - RENTAL OPERA
Revenue
$1,759,980
Organization Details
Founding Year
1983
Phone
(516) 248-4817Principal Officer
Msgr Kevin Nelan
Main Address
1122 FRANKLIN AVENUE SUITE 406, GARDEN CITY, NY, 11530
NTEE Category
Code: L21 - Housing
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