Overview
What is Eagle's Nest Housing Development Fund Corporation?
Eagle's Nest Housing Development Fund Corporation is a nonprofit organization situated in the Bronx, New York, specifically at 1945 Vyse Avenue. Their primary mission is to offer affordable housing solutions to families with low and moderate incomes, as part of New York City's SIP (Supportive Housing Initiative) program. This initiative aims to provide housing to those in need, thus contributing positively to the South Bronx community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 40% (Zero-Star out of Four Star rating)
Eagle's Nest Housing Development Fund Corporation has received a low rating of 40%, indicating significant concerns regarding its financial management and program efficiency. The score is derived entirely from the Accountability & Finance beacon, suggesting that while the organization adheres to some governance standards, its financial ratios raise red flags.
The organization demonstrates strengths in governance, with 83% of its board members being independent and maintaining a conflict of interest policy. Additionally, they have no material diversion of assets and consistently document board meeting minutes, which shows a degree of accountability. However, these positives are overshadowed by severe financial issues, including a high liabilities-to-assets ratio and a very low program expense ratio, which reflects poor allocation of resources towards their mission.
The low program expense ratio of 36.18% raises concerns about the effectiveness and impact of the organization's efforts. In summary, while Eagle's Nest has solid governance practices, the financial metrics suggest a need for significant improvement to ensure that more funds are directed towards their programs and services.
This AI summary has been generated from information found on Charity Navigator.
Is Eagle's Nest Housing Development Fund Corporation legitimate?
Eagle's Nest Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Eagle's Nest 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: $0
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What is the mission statement of Eagle's Nest Housing Development Fund Corporation?
Eagle's Nest Housing Development Fund Corporation is dedicated to providing affordable housing options for families with low to moderate income. This mission is carried out within the framework of New York City's SIP program, specifically in the South Bronx area. The organization's primary goal is to make housing more accessible for these income groups, thereby contributing to a more equitable housing market. By providing affordable housing, Eagle's Nest aims to support families who may otherwise struggle to secure suitable living arrangements. The organization's activities under the SIP program likely include property acquisition, development, and management, ensuring that affordable housing units are available and well-maintained.
Who is the CEO of Eagle's Nest Housing Development Fund Corporation?
Valerie Torres is the Chair of Eagle's Nest Housing Development Fund Corporation.
What is the revenue of Eagle's Nest Housing Development Fund Corporation?
Eagle's Nest Housing Development Fund Corporation's revenue in 2022 was $73,547.
Who are the executives of Eagle's Nest Housing Development Fund Corporation and what are their salaries?
Here are 9 key members and their salaries:
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- Related: $6,830
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- Related: $81,923
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- Compensation: $0
- Related: $113,911
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- Compensation: $0
- Related: $107,782
- Other: $0
Where can I find the form 990 for Eagle's Nest Housing Development Fund Corporation?
Eagle's Nest Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Eagle's Nest Housing Development Fund Corporation
Eagle's Nest Housing Development Fund Corporation is an organization dedicated to providing affordable housing solutions for low and moderate-income families. This nonprofit operates under New York City's SIP program, with a specific focus on the South Bronx area. Their mission is to create and maintain housing that is both affordable and accessible to families who fall within these income brackets, thereby contributing to a more inclusive and equitable living environment. By providing housing, Eagle's Nest Housing Development Fund Corporation aims to alleviate the housing-related challenges faced by many families, thereby improving their overall quality of life.
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Impact
August, 2024
Eagle's Nest Housing Development Fund Corporation has made a significant impact by providing affordable housing to low and moderate-income families in the South Bronx through New York City's SIP program. Through their efforts, they have helped address the housing needs of underserved communities, ensuring that families have access to safe and stable living environments. By offering affordable housing options, Eagle's Nest has contributed to enhancing the quality of life for individuals and families in the Bronx, ultimately promoting economic stability and community development. Their work aligns with the broader goal of addressing housing affordability challenges and expanding access to housing for those in need.
This information is meant to be a general summary of Eagle's Nest 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.
- Investment Income: $73,547
- Gross Receipts: $73,547
Assets and Liabilities:
- Total Assets: $2,400,202
- Total Liabilities: $2,369,134
- Net Assets: $31,068
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Organization Details
Founding Year
1983
Principal Officer
Valerie Torres
Main Address
1945 VYSE AVENUE, BRONX, NY, 10460
NTEE Category
Code: L21 - Housing
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