Overview
What is 334-336 Bergen Street Housing Development Fund Corporation?
334-336 Bergen Street Housing Development Fund Corporation is a nonprofit organization situated in New York City, specifically at 475 Riverside Drive Suite 1244, New York, NY 10115. The primary focus of this organization is to provide supportive housing programs for mentally ill residents in Brooklyn, New York. They offer 58 residential units and various services, such as individual advocacy, counseling, financial awareness, and self-sustainance, to help the residents lead independent lives. With a team of 11 employees, their mission is to operate and lease low-income, supportive housing for mentally ill and chronically homeless individuals, aiming to improve their overall living conditions and well-being.
Official website here: www.lssny.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Stars)
334-336 Bergen Street Housing Development Fund Corporation has received a solid Three-Star rating from Charity Navigator, primarily based on its strong accountability and financial practices. The organization scored 100% for having an entirely independent board and complete transparency in its financial statements. These factors indicate a commitment to responsible governance and effective oversight.
The charity's financial health is reflected in its high program expense ratio of 76.06%, suggesting that a significant portion of its expenses is directed towards its programs and mission rather than administrative costs. The organization also has robust policies in place, including conflict of interest and whistleblower protections, which further enhance its credibility and operational integrity.
However, the organization’s liabilities to assets ratio of 62.97% raises some concerns about its financial leverage. While the overall score is strong, potential donors may want to consider this aspect when evaluating the organization's financial stability. Overall, the nonprofit demonstrates a commitment to accountability, but it may need to address its financial ratios to enhance its overall standing.
This AI summary has been generated from information found on Charity Navigator.
Is 334-336 Bergen Street Housing Development Fund Corporation legitimate?
334-336 Bergen Street Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 334-336 Bergen Street Housing Development Fund 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: $533,190
For more financial information, click here
Official website here: www.lssny.org
What is the mission statement of 334-336 Bergen Street Housing Development Fund Corporation?
The 334-336 Bergen Street Housing Development Fund Corporation's mission is centered around providing supportive housing for individuals who are mentally ill and chronically homeless. Their primary activity involves leasing and managing these low-income housing units. The corporation's objective is to offer a living space and necessary support services to these individuals, enabling them to regain self-sufficiency. These services include individual advocacy, counseling, financial awareness, and guidance towards self-sustainance. The corporation operates in Brooklyn, New York, providing 58 residential units for eligible residents.
Official website here: www.lssny.org
Who is the CEO of 334-336 Bergen Street Housing Development Fund Corporation?
Damyn Kelly is the Board Vice Chair of 334-336 Bergen Street Housing Development Fund Corporation. The CEO's salary of 334-336 Bergen Street Housing Development Fund Corporation is $0 and their total compensation is $318,959.
Official website here: www.lssny.org
What is the revenue of 334-336 Bergen Street Housing Development Fund Corporation?
334-336 Bergen Street Housing Development Fund Corporation's revenue in 2022 was $1,441,120.
Official website here: www.lssny.org
Who are the executives of 334-336 Bergen Street Housing Development Fund Corporation and what are their salaries?
The average compensation at 334-336 Bergen Street Housing Development Fund Corporation during 2022 was $48,472. There are 11 employees and 21 volunteers at 334-336 Bergen Street Housing Development Fund Corporation.
Here are 24 key members and their salaries (334-336 Bergen Street Housing Development Fund Corporation's CEO's salary is $0 and their total compensation is $318,959):
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- Other: $20,917
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- Related: $76,714
- Other: $2,684
Official website here: www.lssny.org
Where can I find the form 990 for 334-336 Bergen Street Housing Development Fund Corporation?
334-336 Bergen Street Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lssny.org
Learn more at the official website: www.lssny.org
Mission Statement of 334-336 Bergen Street Housing Development Fund Corporation
The 334-336 Bergen Street Housing Development Fund Corporation is committed to providing low-income, supportive housing for individuals struggling with mental illness and chronic homelessness. Their mission is to operate and lease such housing, offering a sanctuary for these vulnerable individuals. The corporation's programs extend beyond just providing housing, offering services such as individual advocacy, counseling, financial awareness, and self-sustainance to its residents. By doing so, they aim to empower the mentally ill and chronically homeless, helping them rebuild their lives and achieve independence.
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Impact
August, 2024
334-336 Bergen Street Housing Development Fund Corporation provides crucial support to mentally ill and chronically homeless individuals in Brooklyn, New York. Through their operation and leasing of low-income supportive housing, they offer a safe and stable living environment for those in need. The organization's programs include individual advocacy, counseling, financial awareness, and self-sustainability initiatives. By offering these services and maintaining 58 residential units, 334-336 Bergen Street Housing Development Fund Corporation plays a significant role in addressing homelessness and mental health challenges in the community.
This information is meant to be a general summary of 334-336 Bergen Street Housing Development Fund 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.
- Program Service Revenue: $433,872
- Gross Receipts: $1,441,120
Assets and Liabilities:
- Total Assets: $1,172,574
- Total Liabilities: $110,006
- Net Assets: $1,062,568
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM RENTAL INCOME
Revenue
$433,872
Organization Details
Founding Year
1988
Phone
(212) 870-1132Principal Officer
Damyn Kelly
Main Address
475 RIVERSIDE DRIVE SUITE 1244, NEW YORK, NY, 10115
Website
www.lssny.orgNTEE Category
Code: L200 - Housing
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