Overview
What is Bathgate Belmont Apartments Hdfcinc?
Bathgate Belmont Apartments Hdfcinc is a nonprofit organization situated in the Bronx, New York, specifically at 660 East 183rd Street. Their primary mission is to offer affordable housing opportunities for low to moderate-income families within the community. They achieve this by managing a property that provides subsidized rental units. The operation of this property involves covering necessary expenses such as administrative fees, utilities, repairs and maintenance, taxes, and insurance, ensuring the property runs efficiently and adheres to regulations.
Official website here: www.belmontarthur.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Bathgate Belmont Apartments Hdfcinc has received an 81% rating from Charity Navigator, which indicates a solid level of accountability and financial health. The score reflects only the Accountability & Finance beacon, showcasing the organization's commitment to responsible financial management. A notable strength is the absence of any material diversion of assets, indicating a strong level of integrity in its financial practices.
The organization has demonstrated effective financial oversight, marked by a perfect score in its audit and oversight committee. Additionally, it maintains important governance policies such as conflict of interest and whistleblower policies, which contribute to its transparency and accountability. The program expense ratio is also strong, with over 72% of its expenses directed towards its programs, signaling a focus on fulfilling its mission.
However, one area that could be improved is the composition of the board, with only 33% of members being independent, which may affect governance effectiveness. Overall, while Bathgate Belmont Apartments Hdfcinc shows commendable financial practices and transparency, enhancing board independence could further strengthen its governance structure.
This AI summary has been generated from information found on Charity Navigator.
Is Bathgate Belmont Apartments Hdfcinc legitimate?
Bathgate Belmont Apartments Hdfcinc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bathgate Belmont Apartments Hdfcinc 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.belmontarthur.com
What is the mission statement of Bathgate Belmont Apartments Hdfcinc?
Bathgate Belmont Apartments Hdfcinc's mission is centered around providing affordable housing opportunities for individuals with modest to moderate incomes within the community. By offering low-income family-subsidized rentals, the property generates its income. The associated expenses cover necessary components such as administrative fees, utilities, repair and maintenance, taxes, and insurance, enabling the efficient operation of the premises while adhering to regulations.
Official website here: www.belmontarthur.com
Who is the CEO of Bathgate Belmont Apartments Hdfcinc?
Consolato Cicciu is the President of Bathgate Belmont Apartments Hdfcinc.
Official website here: www.belmontarthur.com
What is the revenue of Bathgate Belmont Apartments Hdfcinc?
Bathgate Belmont Apartments Hdfcinc's revenue in 2022 was $765,071.
Official website here: www.belmontarthur.com
Who are the executives of Bathgate Belmont Apartments Hdfcinc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.belmontarthur.com
Where can I find the form 990 for Bathgate Belmont Apartments Hdfcinc?
Bathgate Belmont Apartments Hdfcinc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.belmontarthur.com
Learn more at the official website: www.belmontarthur.com
Mission Statement of Bathgate Belmont Apartments Hdfcinc
Bathgate Belmont Apartments HDFinc, as a nonprofit organization, is committed to providing low-income to moderate-income housing opportunities for the community. Their mission is to create a space where families in need can call home, ensuring that affordable housing is accessible to a wide range of individuals. The organization generates its revenue primarily through low to moderate income family-subsidized rental units occupying the property. The associated expenses cover administrative fees, utilities, repair and maintenance, as well as taxes and insurance. These necessary components allow Bathgate Belmont Apartments HDFinc to efficiently operate the premises, adhere to regulations, and provide a comfortable living environment for its residents.
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Impact
October, 2024
Bathgate Belmont Apartments Hdfcinc plays a crucial role in the Bronx, NY, by providing affordable housing opportunities for low to moderate income families. By offering subsidized rental options, the organization addresses the significant need for accessible housing in the community, helping to alleviate the financial burdens faced by many residents.
The revenues generated from these subsidized rentals support not only the operational costs of the facility—like administrative fees, utilities, and maintenance—but also ensure that the apartments remain a stable housing option for families. This sustainable model allows for continuous support and upkeep of the premises, contributing to the overall quality of life in the area.
In essence, Bathgate Belmont Apartments Hdfcinc strengthens the community by fostering an environment where families can thrive without the overwhelming stress of housing insecurity. Their efforts create a foundation for residents to pursue education, employment, and a better future.
This information is meant to be a general summary of Bathgate Belmont Apartments Hdfcinc. 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: $2,638
- Program Service Revenue: $762,433
- Gross Receipts: $765,071
Assets and Liabilities:
- Total Assets: $3,469,327
- Total Liabilities: $130,371
- Net Assets: $3,338,956
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROSS POTENTIAL RENT
Revenue
$744,928
SUPER RENT FREE UNIT
Revenue
$38,429
OTHER RENTAL INCOME
Revenue
$7,395
VACANCIES
Revenue
-$28,319
Organization Details
Founding Year
1996
Principal Officer
Consolato Cicciu
Main Address
660 EAST 183RD STREET, BRONX, NY, 10458
Website
www.belmontarthur.comNTEE Category
Code: L20Z - Housing
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