Overview
What is Canaan Baptist Housing Dev Fund Corp?
Canaan Baptist Housing Dev Fund Corp is a nonprofit organization that specializes in providing housing for seniors. Their primary mission involves operating an apartment building specifically designed for the elderly, offering them a secure and comfortable living environment. By operating this senior apartment building, the organization aims to cater to the unique needs and requirements of the elderly population, ensuring they receive the care and support they need.
What are the reviews and ratings of this charity?
79% rating from Charity Navigator indicates that Canaan Baptist Housing Dev Fund Corp has received a Three-Star out of Four Star rating, reflecting good accountability and finance practices. This score is derived entirely from the Accountability & Finance beacon, showcasing the organization's commitment to transparency and responsible financial management.
The organization excels in various areas, such as having a fully independent board and strong policies for conflict of interest, whistleblowing, and document retention. Additionally, it effectively allocates a significant portion of its expenses toward programs, with a program expense ratio of 80.70%, which demonstrates its dedication to fulfilling its mission.
However, the organization faces challenges with its liabilities to assets ratio, which is reported at 155.26%. This indicates a potential concern regarding financial leverage and sustainability. While the overall rating is commendable, stakeholders should remain aware of this limitation in their financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Canaan Baptist Housing Dev Fund Corp legitimate?
Canaan Baptist Housing Dev Fund Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Canaan Baptist Housing Dev Fund Corp 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: $276,062
For more financial information, click here
What is the mission statement of Canaan Baptist Housing Dev Fund Corp?
Canaan Baptist Housing Dev Fund Corp is committed to operating an apartment building specifically designed for senior residents. This organization's mission is to ensure the smooth and effective operation of this senior living facility, providing a home for elderly individuals. The corporation's activities revolve around managing and maintaining the apartment building, ensuring the comfort and well-being of its senior residents.
Who is the CEO of Canaan Baptist Housing Dev Fund Corp?
Thomas Johnson is the President of Canaan Baptist Housing Dev Fund Corp.
What is the revenue of Canaan Baptist Housing Dev Fund Corp?
Canaan Baptist Housing Dev Fund Corp's revenue in 2022 was $1,816,064.
Who are the executives of Canaan Baptist Housing Dev Fund Corp and what are their salaries?
The average compensation at Canaan Baptist Housing Dev Fund Corp during 2022 was $92,021. There are 3 employees at Canaan Baptist Housing Dev Fund Corp.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Canaan Baptist Housing Dev Fund Corp?
Canaan Baptist Housing Dev Fund Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Canaan Baptist Housing Dev Fund Corp
Canaan Baptist Housing Dev Fund Corp is dedicated to serving the senior population by operating an apartment building specifically designed for their needs. This nonprofit organization takes pride in providing a living space that caters to the unique requirements of seniors, ensuring their comfort and well-being. Through the operation of this senior apartment building, Canaan Baptist Housing Dev Fund Corp plays a vital role in supporting the elderly community, offering them a secure and suitable living environment.
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Impact
October, 2024
Canaan Baptist Housing Development Fund Corp significantly impacts the quality of life for seniors in New York by providing secure, affordable housing tailored to their needs. By operating dedicated apartment buildings, it creates a supportive community where seniors can age in place, access essential services, and maintain their independence. This initiative directly addresses the growing demand for senior housing, contributing to the well-being and stability of the aging population in the area. The organization plays a crucial role in enhancing the living conditions for seniors, ensuring they have access to safe, comfortable, and accessible living environments.
This information is meant to be a general summary of Canaan Baptist Housing Dev Fund Corp. 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: $1,787
- Program Service Revenue: $1,746,687
- Gross Receipts: $1,816,064
Assets and Liabilities:
- Total Assets: $5,433,094
- Total Liabilities: $8,435,762
- Net Assets: -$3,002,668
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,743,464
LEGAL, NSF FEES ETC
Revenue
$3,223
Organization Details
Founding Year
1993
Phone
(212) 222-5445Principal Officer
Thomas Johnson
Main Address
160 WEST 116TH STREET, NEW YORK, NY, 10026
NTEE Category
Code: L22 - Housing
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