Overview
What is Everlasting Pine Housing Development Fund Company Inc?
Everlasting Pine Housing Development Fund Company Inc, established in 1984, is a New York-based nonprofit organization with a mission to provide affordable housing for elderly and handicapped individuals of low income. The company operates an apartment complex comprising 87 units, adhering to Section 202 of the Housing Act of 1959. This nonprofit, incorporated under New York's Private Housing Finance Law and Not-For-Profit Corporation Law, continues its operation by providing a safe and inclusive living space for those in need.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 79%, Three-Star out of Four Star rating.
Everlasting Pine Housing Development Fund Company Inc has received a 79% rating from Charity Navigator, indicating a solid level of accountability and finance management. The score is derived entirely from the accountability and finance beacon, where the organization excelled in several key areas, including having a fully independent board and strong oversight on financial statements.
The organization achieved full points in critical areas such as material diversion of assets and conflict of interest policy, showcasing its commitment to transparency and ethical governance. Additionally, their program expense ratio stands at an impressive 83.10%, suggesting that a significant portion of their expenditures directly supports their programs and mission, which is favorable for donors seeking impactful contributions.
While the organization shows strengths in governance and financial management, the overall rating reflects room for improvement in areas that could further enhance its operational effectiveness and public trust. Continued focus on these aspects will be essential for maintaining and potentially improving its rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Everlasting Pine Housing Development Fund Company Inc legitimate?
Everlasting Pine Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Everlasting Pine 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: $0
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What is the mission statement of Everlasting Pine Housing Development Fund Company Inc?
The Everlasting Pine Housing Development Fund Company Inc., established in 1984, is a non-profit organization with a mission to develop and operate an apartment complex consisting of 87 units, primarily intended for elderly and handicapped individuals of low income. This is in compliance with Section 202 of the Housing Act of 1959. The organization's purpose is to provide affordable housing for these individuals, promoting their well-being and independence. The project operates under the Private Housing Finance Law and the Not-For-Profit Corporation Law of New York.
Who is the CEO of Everlasting Pine Housing Development Fund Company Inc?
Charles Lai is the Executive Director of Everlasting Pine Housing Development Fund Company Inc.
What is the revenue of Everlasting Pine Housing Development Fund Company Inc?
Everlasting Pine Housing Development Fund Company Inc's revenue in 2022 was $1,636,881.
Who are the executives of Everlasting Pine Housing Development Fund Company Inc and what are their salaries?
There 14 volunteers at Everlasting Pine Housing Development Fund Company Inc.
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $111,750
- Other: $0
Where can I find the form 990 for Everlasting Pine Housing Development Fund Company Inc?
Everlasting Pine Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Everlasting Pine Housing Development Fund Company Inc
Everlasting Pine Housing Development Fund Company Inc, established in 1984, is a non-profit organization with a mission to develop and operate an apartment complex catering to the elderly and handicapped individuals of low income. This mission is in line with Section 202 of the Housing Act of 1959. The project, under the guidance of Everlasting Pine Housing Development Fund Company Inc, aims to provide a safe and accessible living space for this specific demographic, ensuring they have a home that meets their unique needs. The organization's work is crucial in creating a community where elderly and handicapped individuals can live with dignity and independence, thereby improving their overall quality of life.
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Impact
August, 2024
Everlasting Pine Housing Development Fund Company Inc's impact is evident in providing affordable housing for elderly and handicapped individuals of low income in New York. By operating an apartment complex consisting of 87 units specifically designed to cater to the needs of this vulnerable population, the organization plays a crucial role in addressing the housing challenges faced by these individuals. This initiative not only ensures a secure and comfortable living environment but also promotes a sense of community and support for those in need. Overall, Everlasting Pine Housing Development Fund Company Inc significantly contributes to enhancing the quality of life for its residents and serving the larger goal of providing accessible housing solutions in the region.
This information is meant to be a general summary of Everlasting Pine 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: $778
- Program Service Revenue: $1,634,326
- Gross Receipts: $1,636,881
Assets and Liabilities:
- Total Assets: $2,446,432
- Total Liabilities: $7,442,504
- Net Assets: -$4,996,072
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,634,326
Organization Details
Founding Year
1984
Phone
(212) 265-8833Principal Officer
Charles Lai
Main Address
96 BAXTER STREET 13TH FLOOR, NEW YORK, NY, 10013
NTEE Category
Code: L210 - Housing
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