Overview
What is Promesa Housing Development Fund Corporation Inc?
Promesa Housing Development Fund Corporation Inc is a nonprofit organization situated in Bronx County, New York, specifically at 311 East 175th Street, Bronx. Established with the aim of combating community deterioration and reducing neighborhood tensions, the organization focuses on residential revitalization in the Bronx and adjacent areas. Through its efforts, the nonprofit aims to improve the living conditions and promote harmony in these communities, ultimately contributing to a better quality of life for its residents. With a workforce of 39 individuals, Promesa Housing Development Fund Corporation Inc continues its mission of enhancing and revitalizing the Bronx community.
Official website here: www.acacianetwork.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Star rating)
Promesa Housing Development Fund Corporation Inc has received an 85% rating from Charity Navigator, reflecting solid performance in accountability and finance. The organization boasts a fully independent board, with a majority of members and strong oversight structures in place, which contributes positively to its governance and transparency. Additionally, its program expense ratio is impressive at 95.71%, indicating a strong focus on utilizing funds directly for its mission.
The organization has also demonstrated a commitment to maintaining ethical standards, as evidenced by the presence of various policies including conflict of interest, whistleblower protections, and document retention practices. These measures enhance the trust and confidence of stakeholders and potential donors, showcasing a responsible approach to nonprofit management.
However, while the charity's financial management appears robust, the salaries of key personnel are notably high. This could be a concern for some donors who may prefer to see a larger portion of funds directed toward programmatic efforts rather than administrative salaries. Overall, Promesa Housing Development Fund Corporation Inc shows commendable accountability but should continue to address transparency regarding executive compensation to align with its mission-focused reputation.
This AI summary has been generated from information found on Charity Navigator.
Is Promesa Housing Development Fund Corporation Inc legitimate?
Promesa Housing Development Fund Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Promesa Housing Development Fund Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.acacianetwork.org
What is the mission statement of Promesa Housing Development Fund Corporation Inc?
Promesa Housing Development Fund Corporation Inc is committed to combating community deterioration and reducing neighborhood tensions. They accomplish this goal by focusing on the residential revitalization of the Bronx and adjacent areas in Bronx County. The organization's mission is to improve the living conditions and foster a sense of unity within these communities, ultimately creating a more harmonious environment for its residents. By revitalizing residential areas, Promesa Housing Development Fund Corporation Inc aims to uplift the neighborhoods and contribute to a positive change in the community's overall well-being.
Official website here: www.acacianetwork.org
Who is the CEO of Promesa Housing Development Fund Corporation Inc?
Lymaris Albors is the President of Promesa Housing Development Fund Corporation Inc. The CEO's salary of Promesa Housing Development Fund Corporation Inc is $0 and their total compensation is $795,306.
Official website here: www.acacianetwork.org
What is the revenue of Promesa Housing Development Fund Corporation Inc?
Promesa Housing Development Fund Corporation Inc's revenue in 2022 was $7,954,144.
Official website here: www.acacianetwork.org
Who are the executives of Promesa Housing Development Fund Corporation Inc and what are their salaries?
There are 39 employees and 5 volunteers at Promesa Housing Development Fund Corporation Inc.
Here are 12 key members and their salaries (Promesa Housing Development Fund Corporation Inc's CEO's salary is $0 and their total compensation is $795,306):
- Compensation: $0
- Related: $861,432
- Other: $73,959
- Compensation: $0
- Related: $748,860
- Other: $46,446
- Compensation: $0
- Related: $560,176
- Other: $40,861
- Compensation: $0
- Related: $432,484
- Other: $41,248
- Compensation: $329,085
- Related: $0
- Other: $26,914
- Compensation: $237,087
- Related: $0
- Other: $24,268
- Compensation: $179,957
- Related: $0
- Other: $21,810
- Compensation: $150,220
- Related: $0
- Other: $19,804
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.acacianetwork.org
Where can I find the form 990 for Promesa Housing Development Fund Corporation Inc?
Promesa Housing Development Fund Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.acacianetwork.org
Learn more at the official website: www.acacianetwork.org
Mission Statement of Promesa Housing Development Fund Corporation Inc
Promesa Housing Development Fund Corporation Inc is a nonprofit organization with a mission to combat community deterioration and lessen neighborhood tensions. They achieve this goal through the residential revitalization of the Bronx and adjacent areas of Bronx County. The entity was established with the aim of improving living conditions and fostering a sense of unity within the community. By revitalizing residential areas, Promesa Housing Development Fund Corporation Inc works towards creating a safer and more harmonious environment for its residents. The organization's mission is a testament to its commitment to enhancing the quality of life for the communities it serves.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Promesa Housing Development Fund Corporation Inc significantly impacts the Bronx and its surrounding areas by addressing community deterioration and reducing neighborhood tensions. Through its dedicated efforts in residential revitalization, it plays a crucial role in transforming and uplifting local neighborhoods. By focusing on enhancing living conditions, the organization fosters a sense of community, encouraging social cohesion and stability. This revitalization not only improves the physical environment but also contributes to the overall well-being of residents, creating safer and more vibrant spaces for families. Ultimately, the work of Promesa Housing Development Fund Corporation Inc enhances the quality of life in the Bronx, empowering residents and fostering a sense of pride in their community.
This information is meant to be a general summary of Promesa Housing Development Fund Corporation 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.
- Program Service Revenue: $7,954,144
- Gross Receipts: $7,954,144
Assets and Liabilities:
- Total Assets: $46,161,430
- Total Liabilities: $32,833,429
- Net Assets: $13,328,001
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,451,237
COMMERCIAL RENT
Revenue
$4,795,123
OTHER PROGRAM FEES
Revenue
$87,116
ENFORCEMENT MORTGAGE FORGIVENESS
Revenue
$280,845
CONSULTING FEES
Revenue
$339,823
Organization Details
Founding Year
1990
Phone
(718) 299-1100Principal Officer
Lymaris Albors
Main Address
311 East 175th Street, Bronx, NY, 10457
Website
www.acacianetwork.orgNTEE Category
Code: S210 - Community improvement
If you are a representative of Promesa Housing Development Fund Corporation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.