Overview
What is Fit Student Housing Corporation?
Fit Student Housing Corporation is a New York-based organization dedicated to managing and operating dormitory facilities for students attending the Fashion Institute of Technology (FIT). With a team of 42 employees, their mission is to ensure the smooth operation of student accommodations. The corporation provides essential management services to FIT, catering to the housing needs of its student body.
Official website here: www.fitnyc.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64% (Two-Star out of Four Star rating)
Fit Student Housing Corporation has received a Two-Star rating from Charity Navigator, indicating that there are significant areas for improvement within its accountability and financial practices. The organization scores well in governance aspects, such as having a fully independent board and established policies for conflicts of interest and whistleblowing. However, it notably lacks financial transparency, as indicated by the absence of posted financial statements and tax forms on its website.
The program expense ratio is commendable at 93.66%, suggesting that the majority of its expenditures are allocated towards its programs rather than administrative costs. This reflects a commitment to its mission, but the high liabilities to assets ratio of 79.62% raises concerns about the organization's financial health. The leadership salaries are also considerably high, which might lead to questions regarding compensation practices within the organization.
Overall, while Fit Student Housing Corporation demonstrates strong governance and a focus on program expenses, the lack of financial transparency and high liabilities may impact donor confidence and the organization's overall effectiveness. Addressing these limitations could enhance its credibility and operational sustainability in the long run.
This AI summary has been generated from information found on Charity Navigator.
Is Fit Student Housing Corporation legitimate?
Fit Student Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fit Student Housing Corporation 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: $65,502
For more financial information, click here
Official website here: www.fitnyc.edu
What is the mission statement of Fit Student Housing Corporation?
The Fit Student Housing Corporation is dedicated to managing and operating dormitory facilities for students of the Fashion Institute of Technology. Their mission is to provide accommodations for students attending the institute. The corporation owns and oversees the operation of these dormitories, ensuring a comfortable living experience for the students. By offering management services, the corporation enables the Fashion Institute of Technology to focus on its academic mission. The dormitories under the corporation's care provide students with a convenient and accessible living arrangement, enhancing their overall student experience.
Official website here: www.fitnyc.edu
Who is the CEO of Fit Student Housing Corporation?
Dr Joyce F Brown is the President of Fit Student Housing Corporation.
Official website here: www.fitnyc.edu
What is the revenue of Fit Student Housing Corporation?
Fit Student Housing Corporation's revenue in 2022 was $33,857,523.
Official website here: www.fitnyc.edu
Who are the executives of Fit Student Housing Corporation and what are their salaries?
The average compensation at Fit Student Housing Corporation during 2022 was $1,560. There are 42 employees and 13 volunteers at Fit Student Housing Corporation.
Here are 18 key members and their salaries:
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- Other: $166,149
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- Other: $68,772
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- Other: $61,134
- Compensation: $132,769
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- Other: $44,444
Official website here: www.fitnyc.edu
Where can I find the form 990 for Fit Student Housing Corporation?
Fit Student Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fitnyc.edu
Learn more at the official website: www.fitnyc.edu
Mission Statement of Fit Student Housing Corporation
Fit Student Housing Corporation, a dedicated organization, is committed to managing and operating dormitory facilities for students attending the Fashion Institute of Technology (FIT). In simple terms, its mission is to provide a conducive living environment for FIT students.
The corporation's primary role is to own and operate dormitory facilities for the prestigious fashion institute. By doing so, it ensures that FIT students have access to safe, comfortable, and well-maintained housing while focusing on their academic pursuits. Fit Student Housing Corporation's management services extend beyond the mere provision of accommodation. It aims to create a nurturing community where students can thrive and develop essential life skills.
Moreover, the organization is deeply invested in the success and well-being of FIT students. By managing the dormitories, Fit Student Housing Corporation provides a sense of security and continuity for students. It offers a supportive environment where students can build relationships and connect with their peers, fostering a sense of belonging and community. This, in turn, contributes to the overall success of the students during their time at the Fashion Institute of Technology.
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Impact
October, 2024
Fit Student Housing Corporation plays a crucial role in supporting the academic and social lives of students at the Fashion Institute of Technology (FIT) by providing essential management services and operating dormitory facilities. By ensuring that students have access to quality housing, it fosters a conducive environment for learning and personal growth. The organization not only manages the facilities but also enhances the overall student experience by creating a supportive community where students can thrive. Situated in New York, its impact is significant, as it directly contributes to the educational journey of students at FIT, allowing them to focus on their studies and engage with their peers in a comfortable living environment.
This information is meant to be a general summary of Fit Student Housing Corporation. 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: $79,956
- Program Service Revenue: $33,070,099
- Gross Receipts: $65,375,084
Assets and Liabilities:
- Total Assets: $172,356,223
- Total Liabilities: $143,463,477
- Net Assets: $28,892,746
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT RENTALS AND FE
Revenue
$27,485,075
MEAL PLAN INCOME
Revenue
$4,633,267
FIT RENTALS
Revenue
$857,313
LAUNDRY INCOME
Revenue
$91,210
OTHER PROGRAM REVENUE
Revenue
$3,234
Organization Details
Founding Year
1982
Phone
(212) 217-3603Principal Officer
Dr Joyce F Brown
Main Address
227 WEST 27TH STREET, NEW YORK, NY, 10001
Website
www.fitnyc.eduNTEE Category
Code: B43 - Education
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