Overview
What is 10th And 51st Housing Development Fund Company Inc?
10th And 51st Housing Development Fund Company Inc is a nonprofit organization dedicated to providing affordable housing for senior citizens. Located at 404 West 54th Street in Manhattan, New York, the company offers 99 units of subsidized low-income housing. Beyond just housing, they also provide social and recreational services to their residents, with 47 of them being part of the Enriched Housing Program, requiring special assistance and food services. Their mission is to develop, construct, and operate housing and related facilities for the elderly and handicapped, aiming to enhance the quality of life for these individuals. The organization employs a total of 6 individuals in its operations.
Official website here: www.nyfsc.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81% (Three-Star out of Four Stars)
10th And 51st Housing Development Fund Company Inc has achieved a Three-Star rating on Charity Navigator, primarily based on its strong performance in accountability and finance. The charity has demonstrated excellent governance practices, with an entirely independent board and a robust conflict of interest policy, contributing to its high score in transparency and oversight.
The organization's financial health is commendable, with a program expense ratio of 89.34%, indicating that a significant portion of their funding goes directly to programs rather than administrative costs. Additionally, it has received full points for its audit and oversight committee, which reflects a commitment to sound financial practices and accountability.
However, the charity did face challenges in the area of liabilities to assets ratio, scoring zero points in this category. This may indicate potential financial risks that could impact its sustainability in the long term. Overall, while 10th And 51st Housing Development Fund Company Inc shows strong governance and operational efficiency, stakeholders should consider its financial leverage when assessing its overall health.
This AI summary has been generated from information found on Charity Navigator.
Is 10th And 51st Housing Development Fund Company Inc legitimate?
10th And 51st Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 10th And 51st 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: $326,905
For more financial information, click here
Official website here: www.nyfsc.org
What is the mission statement of 10th And 51st Housing Development Fund Company Inc?
The 10th And 51st Housing Development Fund Company Inc is dedicated to the mission of creating, constructing, and managing housing and related facilities primarily for the elderly and individuals with disabilities. Their primary objective is to provide 99 units of subsidized low-income housing, catering to senior citizens. To ensure the well-being of its residents, the company offers social and recreational services. Among its tenants, 47 are enrolled in the Enriched Housing Program, requiring special assistance and food services. The company's mission is to contribute to the comfort and support of these individuals, providing them with a suitable living environment.
Official website here: www.nyfsc.org
Who is the CEO of 10th And 51st Housing Development Fund Company Inc?
Linda Hoffman is the President of 10th And 51st Housing Development Fund Company Inc. The CEO's salary of 10th And 51st Housing Development Fund Company Inc is $0 and their total compensation is $724,061.
Official website here: www.nyfsc.org
What is the revenue of 10th And 51st Housing Development Fund Company Inc?
10th And 51st Housing Development Fund Company Inc's revenue in 2022 was $3,152,510.
Official website here: www.nyfsc.org
Who are the executives of 10th And 51st Housing Development Fund Company Inc and what are their salaries?
The average compensation at 10th And 51st Housing Development Fund Company Inc during 2022 was $54,484. There are 6 employees and 4 volunteers at 10th And 51st Housing Development Fund Company Inc.
Here are 6 key members and their salaries (10th And 51st Housing Development Fund Company Inc's CEO's salary is $0 and their total compensation is $724,061):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $692,717
- Other: $31,344
- Compensation: $0
- Related: $285,600
- Other: $25,497
Official website here: www.nyfsc.org
Where can I find the form 990 for 10th And 51st Housing Development Fund Company Inc?
10th And 51st Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nyfsc.org
Learn more at the official website: www.nyfsc.org
Mission Statement of 10th And 51st Housing Development Fund Company Inc
10th And 51st Housing Development Fund Company Inc is dedicated to a mission that involves developing, constructing, and operating housing and related facilities specifically catering to the elderly and individuals with disabilities. This nonprofit organization seeks to provide a conducive living environment for these individuals, offering them subsidized low-income housing units as a primary service. In addition to housing, the company also focuses on providing social and recreational services to enhance the quality of life for its residents. Notably, 47 of its tenants are enrolled in the Enriched Housing Program, which offers special assistance and food services for those in need. The mission of 10th And 51st Housing Development Fund Company Inc is centered around creating safe and supportive living environments for the elderly and disabled, aiming to improve their overall well-being.
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Impact
August, 2024
10th And 51st Housing Development Fund Company Inc's impact is significant in providing 99 units of subsidized low-income housing for senior citizens in Manhattan. This housing development offers essential social and recreational services to its residents, creating a supportive and enriching community for those in need. Moreover, 47 of its tenants are part of the Enriched Housing Program, requiring special assistance and food service, indicating the organization's commitment to catering to the specific needs of vulnerable individuals. By developing, constructing, and operating housing facilities for the elderly and handicapped, this nonprofit contributes to improving the quality of life for a marginalized population in New York City.
This information is meant to be a general summary of 10th And 51st 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: $339
- Program Service Revenue: $284,580
- Gross Receipts: $3,152,510
Assets and Liabilities:
- Total Assets: $6,885,884
- Total Liabilities: $6,164,088
- Net Assets: $721,796
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$284,580
Organization Details
Founding Year
1985
Phone
(212) 962-7653Principal Officer
Linda Hoffman
Main Address
11 PARK PLACE 1416, NEW YORK, NY, 10007
Website
www.nyfsc.orgNTEE Category
Code: L21 - Housing
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