Overview
What is Westbourne Housing Development Fund Company Inc?
Westbourne Housing Development Fund Company Inc, a not-for-profit organization situated in New York City, is dedicated to improving housing conditions for individuals of low income. By developing, operating, and managing housing facilities, this organization aims to provide a safe and secure living environment for those in need. This housing corporation's mission is deeply rooted in its commitment to serving the community and ensuring that everyone has access to affordable housing options.
Official website here: www.wsfssh.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Westbourne Housing Development Fund Company Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating significant room for improvement. With an overall score of 66%, the organization demonstrates strengths in areas such as program expense ratio, where it allocates 93.48% of its budget towards direct programs. The organization also maintains solid policies for audit oversight, conflict of interest, and whistleblower protection.
However, the nonprofit faces challenges related to board governance and financial management. Only 33% of board members are independent, and the overall independent board size is limited, which raises concerns about oversight and accountability. Additionally, the organization has a high liabilities to assets ratio of 70.06%, suggesting potential financial vulnerability. Furthermore, the absence of tax forms on the nonprofit's website may hinder transparency and public trust.
Overall, while Westbourne demonstrates a strong commitment to its programming, addressing governance and financial management issues will be essential for improving its rating and enhancing stakeholder confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Westbourne Housing Development Fund Company Inc legitimate?
Westbourne Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Westbourne 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: $461,461
For more financial information, click here
Official website here: www.wsfssh.org
What is the mission statement of Westbourne Housing Development Fund Company Inc?
Westbourne Housing Development Fund Company Inc is a not-forprofit organization dedicated to a significant mission. Its primary focus is on the development, operation, and management of housing for individuals of low income. The company's commitment extends beyond just construction and maintenance; it aims to provide a home for those who may not otherwise have access to affordable housing. By taking on this role, Westbourne Housing Development Fund Company Inc contributes to the betterment of its community, ensuring that everyone has a place to call home.
Official website here: www.wsfssh.org
Who is the CEO of Westbourne Housing Development Fund Company Inc?
Paul R Freitag is the Vice President of Westbourne Housing Development Fund Company Inc.
Official website here: www.wsfssh.org
What is the revenue of Westbourne Housing Development Fund Company Inc?
Westbourne Housing Development Fund Company Inc's revenue in 2022 was $1,409,398.
Official website here: www.wsfssh.org
Who are the executives of Westbourne Housing Development Fund Company Inc and what are their salaries?
There 1 volunteer at Westbourne Housing Development Fund Company Inc.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $189,126
- Other: $6,613
- Compensation: $0
- Related: $236,229
- Other: $63,275
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $120,439
- Other: $41,746
- Compensation: $0
- Related: $89,272
- Other: $13,983
- Compensation: $0
- Related: $168,428
- Other: $54,124
Official website here: www.wsfssh.org
Where can I find the form 990 for Westbourne Housing Development Fund Company Inc?
Westbourne Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wsfssh.org
Learn more at the official website: www.wsfssh.org
Mission Statement of Westbourne Housing Development Fund Company Inc
Westbourne Housing Development Fund Company Inc is a not-for-profit organization dedicated to a noble cause. Their mission revolves around the development, operation, and management of housing for individuals of low income. This mission is a testament to their commitment to providing affordable and decent living spaces for those who may not have the means to secure them otherwise. By undertaking this mission, Westbourne Housing Development Fund Company Inc plays a significant role in promoting social equity and ensuring that all individuals have access to basic necessities, including a place to call home. Their work is instrumental in bridging the gap between housing affordability and availability, thereby contributing to the overall well-being of the community.
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Impact
August, 2024
Westbourne Housing Development Fund Company Inc has a significant impact on providing affordable housing for individuals with low income in New York. By developing, operating, and managing housing specifically for this demographic, the organization contributes to addressing the ongoing housing challenges faced by vulnerable populations in the state. Its commitment to ensuring that individuals have access to safe and affordable housing underscores its crucial role in supporting community development and enhancing the quality of life for those in need.
This information is meant to be a general summary of Westbourne 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: $13,438
- Program Service Revenue: $1,382,460
- Gross Receipts: $1,409,398
Assets and Liabilities:
- Total Assets: $7,744,773
- Total Liabilities: $5,002,743
- Net Assets: $2,742,030
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,382,385
REFRIGERATION AND AIR
Revenue
$75
Organization Details
Founding Year
1987
Phone
(212) 721-6032Principal Officer
Paul R Freitag
Main Address
2345 BROADWAY, NEW YORK, NY, 10024
Website
www.wsfssh.orgNTEE Category
Code: L20Z - Housing
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