Overview
What is Hunts Point Housing Development Corporation?
Hunts Point Housing Development Corporation is a nonprofit organization situated in the Bronx, New York, specifically at 429 Bruckner Boulevard, 2nd Floor, 10455. Their primary focus is on providing low-income housing in the South Bronx. They finance and construct these housing units to accommodate the local community. Beyond housing, Hunts Point Housing Development Corporation also extends its commitment to the community by offering essential social services to their tenants. These services are designed to support and enhance the quality of life for those residing in the low-income housing units. With a dedicated workforce of 11 individuals, the organization strives to make a positive impact on the community it serves.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68% - Two-Star out of Four Star Rating
Hunts Point Housing Development Corporation has received a Two-Star rating from Charity Navigator, indicating some concerns regarding its accountability and financial management. While the organization has a strong program expense ratio of 92.76%, suggesting a high level of funds directed towards its mission, it struggles in areas such as independent board membership and financial transparency. The 68% score highlights both strengths and areas needing improvement for better governance.
The organization benefits from a fully independent board in terms of its size, but it lacks sufficient independent members overall. Additionally, while it has established a conflict of interest policy and a whistleblower policy, it falls short in providing critical financial documents on its website, including its tax form and document retention policy. These deficiencies may impact the trust of stakeholders and potential donors.
Despite these limitations, Hunts Point Housing Development Corporation demonstrates a commitment to its mission through effective program spending. Addressing the noted weaknesses in governance and transparency could enhance its credibility and effectiveness in serving its community.
This AI summary has been generated from information found on Charity Navigator.
Is Hunts Point Housing Development Corporation legitimate?
Hunts Point Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hunts Point Housing Development 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: $594,867
For more financial information, click here
What is the mission statement of Hunts Point Housing Development Corporation?
Hunts Point Housing Development Corporation’s mission involves managing and operating affordable housing units, primarily catering to low-income individuals. Beyond providing housing, the corporation extends its services to the tenants by offering various social programs. The company's commitment is twofold, aiming to provide a safe living environment and enhance the well-being of its residents through these additional services. The corporation's initiatives are financed through funds from New York City, demonstrating its dedication to supporting vulnerable communities.
Who is the CEO of Hunts Point Housing Development Corporation?
Salvatore Gigante is the Chair of Hunts Point Housing Development Corporation.
What is the revenue of Hunts Point Housing Development Corporation?
Hunts Point Housing Development Corporation's revenue in 2022 was $5,322,623.
Who are the executives of Hunts Point Housing Development Corporation and what are their salaries?
The average compensation at Hunts Point Housing Development Corporation during 2022 was $54,079. There are 11 employees at Hunts Point Housing Development Corporation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $800
- Other: $0
- Compensation: $0
- Related: $800
- Other: $0
- Compensation: $0
- Related: $216,439
- Other: $0
- Compensation: $0
- Related: $133,882
- Other: $0
Where can I find the form 990 for Hunts Point Housing Development Corporation?
Hunts Point Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hunts Point Housing Development Corporation
Hunts Point Housing Development Corporation, a nonprofit organization, is committed to serving the community by owning and operating low-income housing in addition to providing essential social services for its tenants. This organization constructs housing units in areas requiring affordable living options, often utilizing funds from local resources such as New York City. Beyond providing shelter, Hunts Point Housing Development Corporation takes an active role in supporting its residents by offering a variety of social services. These services aim to enhance the quality of life for the tenants, ensuring they have the necessary resources to thrive in their living environment.
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Impact
October, 2024
Hunts Point Housing Development Corporation significantly impacts the South Bronx by providing affordable housing options for low-income residents. By owning and operating these housing units, the organization addresses the critical need for safe and stable living environments in an area where such options are limited.
In addition to housing, the organization enhances the wellbeing of its tenants through various social services, fostering a supportive community that addresses the broader needs of its residents. This dual approach of providing shelter and essential services not only improves the quality of life for individuals and families but also contributes to the overall revitalization of the South Bronx neighborhood. The construction of these low-income housing units, financed with city funds, ensures that vulnerable populations have access to sustainable living conditions, promoting stability and growth within the community.
This information is meant to be a general summary of Hunts Point Housing Development 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: $85,371
- Program Service Revenue: $5,232,225
- Gross Receipts: $6,395,288
Assets and Liabilities:
- Total Assets: $13,578,651
- Total Liabilities: $36,642,151
- Net Assets: -$23,063,500
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME HOUSING RENTAL
Revenue
$5,232,225
Organization Details
Phone
(347) 726-2547Principal Officer
Salvatore Gigante
Main Address
429 BRUCKNER BLVD2ND FLOOR, BRONX, NY, 10455
NTEE Category
Code: L20Z - Housing
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