Overview
What is Olivet-St Vincent's Housing Development Fund Company Inc?
Olivet-St Vincent's Housing Development Fund Company Inc is a nonprofit organization situated in Staten Island, New York. Their primary mission is to provide housing and related services to the elderly on a nonprofit basis. To fulfill this purpose, they own and manage a Section 223(F) HUD-financed multifamily housing project, which comprises 75 units specifically designed for the elderly population. This initiative aims to enhance the living conditions and well-being of the elderly who are in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Olivet-St Vincent's Housing Development Fund Company Inc has received a score of 79%, which translates to a Three-Star rating on Charity Navigator. This rating is primarily based on the organization’s accountability and finance practices, reflecting a strong commitment to transparency and ethical governance.
The organization stands out for its excellent scores in various governance categories, including having a majority of independent board members and a comprehensive audit and oversight committee. Additionally, it has demonstrated effective financial management, with a high program expense ratio of 88.08%, indicating that a significant portion of its funds is directed towards its mission-related activities.
While the rating highlights many strengths, it is essential to consider that the overall score is derived from a single beacon score. This suggests that while accountability and finance are strong, other areas such as program effectiveness or donor engagement may not have been evaluated, which could provide a more comprehensive view of the organization's impact.
This AI summary has been generated from information found on Charity Navigator.
Is Olivet-St Vincent's Housing Development Fund Company Inc legitimate?
Olivet-St Vincent's Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Olivet-St Vincent's 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $160,494
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What is the mission statement of Olivet-St Vincent's Housing Development Fund Company Inc?
Olivet-St Vincent's Housing Development Fund Company Inc is committed to providing housing and related services to the elderly in need on a non-profit basis. The organization operates a Section 223(F) HUD-financed multifamily housing project, specifically designed for the elderly, consisting of 75 units. By undertaking this mission, the company aims to contribute positively to the lives of the elderly population, offering them a sanctuary where they can live comfortably and access necessary services.
Who is the CEO of Olivet-St Vincent's Housing Development Fund Company Inc?
Matthew Janeczko is the Director of Olivet-St Vincent's Housing Development Fund Company Inc.
What is the revenue of Olivet-St Vincent's Housing Development Fund Company Inc?
Olivet-St Vincent's Housing Development Fund Company Inc's revenue in 2022 was $1,316,796.
Who are the executives of Olivet-St Vincent's Housing Development Fund Company Inc and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for Olivet-St Vincent's Housing Development Fund Company Inc?
Olivet-St Vincent's Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Olivet-St Vincent's Housing Development Fund Company Inc
Olivet-St. Vincent's Housing Development Fund Company Inc is dedicated to providing housing and related services to the elderly in a nonprofit manner. Their mission is twofold: they own and operate a Section 223(F) HUD-financed multifamily housing project specifically designed for the elderly. This project, consisting of 75 units, serves as a home for this vulnerable population. The company's objective is to offer these accommodations on a nonprofit basis, aiming to uplift and support the poor elderly community.
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Impact
August, 2024
Olivet-St Vincent's Housing Development Fund Company Inc directly impacts the lives of the poor elderly in Staten Island, NY by providing them with affordable housing and related services. Through owning and operating a HUD-financed multifamily project specifically designed for the elderly, the organization offers a safe and supportive living environment for its residents. This initiative plays a crucial role in addressing the housing needs of this vulnerable population, ensuring they have a dignified place to call home. The impact of Olivet-St Vincent's Housing Development Fund Company Inc extends beyond just providing housing, as it also enhances the overall well-being and quality of life for the elderly residents it serves.
This information is meant to be a general summary of Olivet-St Vincent's 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: $15,480
- Program Service Revenue: $1,289,561
- Gross Receipts: $1,316,796
Assets and Liabilities:
- Total Assets: $3,269,199
- Total Liabilities: $3,678,340
- Net Assets: -$409,141
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE PAYM
Revenue
$1,050,500
TENANT RENTAL PAYMENTS
Revenue
$238,713
COVID-19 SUPPLEMENTAL
Revenue
$348
Organization Details
Founding Year
1983
Phone
(718) 477-6803Principal Officer
Matthew Janeczko
Main Address
150 BRIELLE AVENUE, STATEN ISLAND, NY, 103146424
NTEE Category
Code: L21 - Housing
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