Overview
What is The Lower East Side People's Mutual Housing Association Inc?
The Lower East Side People's Mutual Housing Association Inc is a nonprofit organization committed to providing housing solutions for individuals with low and moderate incomes. They achieve this by offering rental units within the community. Their primary mission revolves around making affordable housing accessible to those in need, thereby contributing positively to the local community. The organization's activities are focused on this provision of housing, ensuring that a diverse set of individuals can secure a place to call home.
What are the reviews and ratings of this charity?
Charity Navigator Rating 90%
The Lower East Side People's Mutual Housing Association Inc has earned a Four-Star out of Four Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health, with an overall score of 90%. This high score is solely based on their Accountability & Finance metrics, highlighting their effective financial management practices.
The organization exhibits exceptional governance, with a fully independent board and no reported material diversions of assets. Their financial oversight is robust, with a perfect score for their Audit and Oversight Committee, indicating a strong focus on transparency and integrity in their operations. Additionally, a high program expense ratio of 92.37% suggests that the majority of their funds are directed towards their mission-driven programs.
While the rating indicates a strong financial status and ethical governance, it is important for potential supporters or beneficiaries to consider the broader impact of the organization's programs and initiatives, which may require additional qualitative information beyond financial metrics. Overall, the organization demonstrates a solid foundation in financial accountability, making it a trustworthy choice for donors.
This AI summary has been generated from information found on Charity Navigator.
Is The Lower East Side People's Mutual Housing Association Inc legitimate?
The Lower East Side People's Mutual Housing Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Lower East Side People's Mutual Housing Association 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: $95,235
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,327,465
For more financial information, click here
What is the mission statement of The Lower East Side People's Mutual Housing Association Inc?
The Lower East Side People's Mutual Housing Association Inc is dedicated to providing housing solutions for individuals with modest to low income levels. They accomplish this by offering rental units within the community, serving as a crucial resource for those in need of affordable housing options. The organization's mission is centered around improving the living conditions and offering a stable housing environment for these individuals. The association strives to make a positive impact on the community by making housing accessible and affordable for its residents.
Who is the CEO of The Lower East Side People's Mutual Housing Association Inc?
Kil J Yi is the Vp of The Lower East Side People's Mutual Housing Association Inc.
What is the revenue of The Lower East Side People's Mutual Housing Association Inc?
The Lower East Side People's Mutual Housing Association Inc's revenue in 2022 was $2,374,288.
Who are the executives of The Lower East Side People's Mutual Housing Association Inc and what are their salaries?
The average compensation at The Lower East Side People's Mutual Housing Association Inc during 2022 was $40,649. There are 35 employees at The Lower East Side People's Mutual Housing Association Inc.
Here are 9 key members and their salaries:
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- Compensation: $95,235
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- Other: $4,712
Where can I find the form 990 for The Lower East Side People's Mutual Housing Association Inc?
The Lower East Side People's Mutual Housing Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Lower East Side People's Mutual Housing Association Inc
The Lower East Side People's Mutual Housing Association, a nonprofit organization, is dedicated to providing housing solutions for individuals with low and moderate incomes. Their mission is to offer rental units to the community, thereby addressing the housing needs of those who may not have other affordable options available. By doing so, the Lower East Side People's Mutual Housing Association plays a crucial role in ensuring that individuals in this income bracket have access to stable and secure housing, which is a fundamental human need. The organization's efforts contribute to creating a more equitable and inclusive community, where all individuals have the opportunity to live with dignity and security.
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Impact
October, 2024
The Lower East Side People's Mutual Housing Association Inc. plays a crucial role in addressing the housing needs of low and moderate-income individuals in New York City. By providing affordable rental units, it significantly contributes to the stability and well-being of the community. This organization enhances access to quality housing, fostering a sense of belonging and security among residents.
By focusing on inclusivity and maintaining affordability, it supports diverse populations, allowing individuals and families to thrive in a rapidly changing urban landscape. The impact extends beyond mere shelter; it promotes community development, social cohesion, and economic resilience. The association's efforts ultimately help to combat displacement and homelessness, ensuring that essential housing remains accessible to those who need it most.
This information is meant to be a general summary of The Lower East Side People's Mutual Housing Association 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: $255
- Program Service Revenue: $2,373,033
- Gross Receipts: $2,374,288
Assets and Liabilities:
- Total Assets: $9,671,980
- Total Liabilities: $2,216,028
- Net Assets: $7,455,952
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$2,014,901
RENTAL INCOME
Revenue
$181,357
CONSULTING FEES
Revenue
$176,775
Organization Details
Phone
(212) 473-5940Principal Officer
Kil J Yi
Main Address
228 EAST 3RD STREET, NEW YORK, NY, 10009
NTEE Category
Code: L200 - Housing
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