Overview
What is 721 East 6th Street Housing Development Fund Corporation?
The 721 East 6th Street Housing Development Fund Corporation, often referred to as the O'Toole Residence, is a dedicated nonprofit organization in New York City. Its primary mission is to provide affordable housing to formerly homeless families and individuals. Initially serving as a home for formerly incarcerated women, the building was homesteaded in the early 1980s. After suffering extensive flood damage during Superstorm Sandy in 2012, the building has since focused on sustainability and resilience, becoming one of the first solarized multi-family buildings in Lower Manhattan and participating in the Enterprise Community Partners' Residential Technical Assistance Pilot Program (RTAPP). Located in Alphabet City, the organization provides residents with access to nearby programming and services offered by Nazareth Housing, Inc., including Louise's Food Pantry, supportive case management, housing counseling, and individualized financial capability programming. With a commitment to supporting low-income and formerly homeless households, the 721 East 6th Street Housing Development Fund Corporation maintains 13 apartments for qualifying individuals, offering them the opportunity to remain in their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
The 721 East 6th Street Housing Development Fund Corporation has earned a commendable Four-Star rating from Charity Navigator, reflecting a strong performance in accountability and finance. This high score indicates a commitment to transparency and responsible management of financial resources, which is crucial for building trust with donors and the communities they serve.
The organization showcases several strengths, including an entirely independent board, adequate policies for conflict of interest, whistleblower protections, and proper document retention practices. With a program expense ratio of 75.48%, the majority of its funds are allocated directly to its programs, ensuring that a significant portion of donations is utilized effectively for its mission.
While the nonprofit's performance is notable, continuous assessment and adaptation will be essential for maintaining this level of excellence. Overall, the high scores in all evaluated areas indicate a well-managed organization dedicated to its goals and accountability practices.
This AI summary has been generated from information found on Charity Navigator.
Is 721 East 6th Street Housing Development Fund Corporation legitimate?
721 East 6th Street Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 721 East 6th Street 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
For more financial information, click here
What is the mission statement of 721 East 6th Street Housing Development Fund Corporation?
The 721 East 6th Street Housing Development Fund Corporation is dedicated to providing affordable and supportive housing to low-income families and individuals who were formerly homeless. The corporation's mission involves offering permanent housing with subsidized rents, enabling these households to continue living in their communities. The housing project includes support services, such as case management, housing counseling, and financial assistance programs, to ensure the residents' well-being. Located in an undisclosed area, the building has made strides in sustainability and resilience post-natural disasters, becoming one of the first solarized multifamily buildings in the area and participating in an initiative to improve energy efficiency and disaster resilience. Residents also benefit from nearby programming and services offered by Nazareth Housing, Inc.
Who is the CEO of 721 East 6th Street Housing Development Fund Corporation?
Rachel Levine is the Executive Dir/Treas. Thru 6/30/22 of 721 East 6th Street Housing Development Fund Corporation.
What is the revenue of 721 East 6th Street Housing Development Fund Corporation?
721 East 6th Street Housing Development Fund Corporation's revenue in 2022 was $58,305.
Who are the executives of 721 East 6th Street Housing Development Fund Corporation and what are their salaries?
There 4 volunteers at 721 East 6th Street Housing Development Fund Corporation.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $136,231
- Other: $2,750
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $71,012
- Other: $13,490
Where can I find the form 990 for 721 East 6th Street Housing Development Fund Corporation?
721 East 6th Street Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 721 East 6th Street Housing Development Fund Corporation
721 East 6th Street Housing Development Fund Corporation, commonly known as the O'Toole Residence, is dedicated to providing affordable, supportive housing to low-income and formerly homeless families and individuals. Established in the heart of Alphabet City, this housing project offers 13 permanently affordable apartments. The organization's mission goes beyond mere housing, as it also provides support services and low rents that enable its residents to continue living in their community.
The building, which was originally homesteaded in the early 1980s, has a rich history. It was initially used as a home for formerly incarcerated women. After experiencing extensive flooding during Superstorm Sandy in 2012, the building underwent significant changes to become more sustainable and resilient. It became one of the first solarized multi-family buildings in Lower Manhattan, and an early participant in Enterprise Community Partner's Residential Technical Assistance Pilot Program (RTAPP). This initiative aimed to make multi-family buildings more energy-efficient and resilient to natural disasters.
The residents of 721 East 6th Street Housing Development Fund Corporation benefit from nearby programming and services offered by Nazareth Housing, Inc. These include Louise's Food Pantry, supportive case management, housing counseling, and individualized financial capability programming. This comprehensive support system allows the low-income residents to maintain their place in their community, providing them with a much-needed sense of stability and security.
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Impact
August, 2024
721 East 6th Street Housing Development Fund Corporation is making a significant impact by providing 13 permanently affordable apartments to formerly homeless families and individuals in the heart of Alphabet City in New York. These individuals benefit from nearby programming and services such as food pantry, supportive case management, housing counseling, and financial capability programming, all aimed at helping them rebuild their lives and thrive in the community. Additionally, the building has implemented sustainability and resiliency measures, becoming one of the first solarized multifamily buildings in Lower Manhattan. This organization's commitment to providing permanent affordable supportive housing is crucial in addressing the needs of low-income and formerly homeless households, allowing them to remain in their community and access the support they need to succeed.
This information is meant to be a general summary of 721 East 6th Street 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: $16
- Program Service Revenue: $38,437
- Gross Receipts: $58,305
Assets and Liabilities:
- Total Assets: $478,339
- Total Liabilities: $21,401
- Net Assets: $456,938
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$38,437
Organization Details
Founding Year
1987
Phone
(212) 777-1010Principal Officer
Rachel Levine
Main Address
519 EAST 11TH STREET, NEW YORK, NY, 10009
NTEE Category
Code: L20Z - Housing
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