Overview
What is Timpson Housing Development Fund Corporation?
Timpson Housing Development Fund Corporation is a nonprofit organization situated in the Bronx, New York, specifically at 429 Bruckner Blvd 2nd Floor, 10455. Their primary focus is on providing affordable housing for individuals with low income in the South Bronx area. Beyond offering housing, the corporation also extends its services to the tenants, providing them with essential social support. This holistic approach aims to improve the overall living conditions and well-being of the residents within the South Bronx community. The organization is staffed by a team of five individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68%
Timpson Housing Development Fund Corporation has received a Two-Star out of Four Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The organization demonstrates a strong commitment to program expenses, with an impressive program expense ratio of 91.94%, which suggests that a substantial portion of their funds goes directly towards their mission-related activities.
However, there are several areas where the organization falls short, particularly in governance and financial transparency. While the board consists of a majority of independent members, the size of the independent board members is quite small, which raises concerns about effective oversight. Additionally, critical documents such as the website listed on the tax form and tax forms posted on the nonprofit's website are missing, indicating a need for improvement in transparency and accessibility of information.
Overall, while Timpson Housing Development Fund Corporation shows strengths in its program expenses and governance policies, it faces challenges in financial transparency and board composition. Addressing these limitations could enhance its rating and bolster public trust in the organization's operations.
This AI summary has been generated from information found on Charity Navigator.
Is Timpson Housing Development Fund Corporation legitimate?
Timpson Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Timpson 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: $272,363
For more financial information, click here
What is the mission statement of Timpson Housing Development Fund Corporation?
Timpson Housing Development Fund Corporation is committed to serving low-income individuals by operating housing projects in various locations. Beyond providing housing, the corporation extends its services to its tenants, offering essential social support. The mission of Timpson Housing Development Fund Corporation is centered around enhancing the living conditions and well-being of its tenants, offering them more than just a place to reside. Through its social services, the corporation aims to improve the overall quality of life for its residents, making a significant impact in their daily lives.
Who is the CEO of Timpson Housing Development Fund Corporation?
Salvatore Gigante is the Chair of Timpson Housing Development Fund Corporation.
What is the revenue of Timpson Housing Development Fund Corporation?
Timpson Housing Development Fund Corporation's revenue in 2022 was $2,600,012.
Who are the executives of Timpson Housing Development Fund Corporation and what are their salaries?
The average compensation at Timpson Housing Development Fund Corporation during 2022 was $54,473. There are 5 employees at Timpson Housing Development Fund 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 Timpson Housing Development Fund Corporation?
Timpson Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Timpson Housing Development Fund Corporation
Timpson Housing Development Fund Corporation, a nonprofit organization, is dedicated to serving low-income communities in an unspecified location. Beyond providing affordable housing, the corporation extends its reach to the tenants by offering social services. This holistic approach ensures that the residents not only have a place to call home but also have access to support services that can improve their overall well-being. The corporation's mission is to bridge the gap between housing needs and social support, thereby enhancing the quality of life for its residents.
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Impact
October, 2024
Timpson Housing Development Fund Corporation significantly impacts the South Bronx community by operating low-income housing projects that provide affordable living options for residents. By addressing the housing needs in this economically challenged area, the organization helps to stabilize communities and improve the quality of life for individuals and families.
In addition to housing, Timpson offers essential social services for its tenants. This holistic approach not only provides shelter but also supports residents in overcoming barriers they may face, fostering a stronger, more resilient community. The combination of affordable housing and social support services creates a foundation for tenants to thrive, promoting overall well-being and empowering them to improve their life circumstances.
This information is meant to be a general summary of Timpson 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: $17,336
- Program Service Revenue: $2,582,676
- Gross Receipts: $2,600,012
Assets and Liabilities:
- Total Assets: $7,010,566
- Total Liabilities: $10,568,151
- Net Assets: -$3,557,585
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,582,676
Organization Details
Founding Year
1991
Phone
(347) 726-2547Principal Officer
Salvatore Gigante
Main Address
429 BRUCKNER BLVD 2ND FLOOR, BRONX, NY, 10455
NTEE Category
Code: L20 - Housing
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