Overview
What is Mount Olivet Housing Development Fund Company Inc?
Mount Olivet Housing Development Fund Company Inc is a nonprofit organization dedicated to addressing homelessness. They accomplish this mission by constructing and renting out a three-unit housing complex for families who are currently homeless. The organization also manages the upkeep of these buildings, incurring depreciation expenses as part of this process. Through their housing programs, Mount Olivet Housing Development Fund Company Inc aims to provide a stable living environment for these individuals and families, helping them overcome their homelessness.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating. This rating reflects a moderate level of accountability and financial health within the organization, indicating that while there are positive aspects, there is room for improvement in overall performance.
Mount Olivet Housing Development Fund Company Inc demonstrates a strong governance structure, with 100% of its board members being independent and a documented approach to board meeting minutes. The organization also showcases excellent financial health, evidenced by a low liabilities to assets ratio of 8.33% and a program expense ratio of 100%, suggesting that all of its expenses are directed towards its programs.
However, despite these strengths, the overall rating of 73% suggests that the nonprofit may have some areas that require attention to enhance its effectiveness and transparency further. The two-star rating highlights the need for ongoing improvements to better serve its mission and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Mount Olivet Housing Development Fund Company Inc legitimate?
Mount Olivet Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mount Olivet Housing Development Fund Company 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
What is the mission statement of Mount Olivet Housing Development Fund Company Inc?
Mount Olivet Housing Development Fund Company Inc is dedicated to addressing the issue of homelessness. Their mission is achieved through initiatives such as constructing and leasing three-unit houses for homeless families. Furthermore, the organization incurs depreciation expenses on the buildings used to house these families, demonstrating their ongoing commitment to this cause. In essence, Mount Olivet Housing Development Fund Company Inc's mission is to provide housing solutions for the homeless community.
Who is the CEO of Mount Olivet Housing Development Fund Company Inc?
Anthony Elcock is the President of Mount Olivet Housing Development Fund Company Inc.
What is the revenue of Mount Olivet Housing Development Fund Company Inc?
Mount Olivet Housing Development Fund Company Inc's revenue in 2022 was $72,505.
Who are the executives of Mount Olivet Housing Development Fund Company Inc and what are their salaries?
There 6 volunteers at Mount Olivet Housing Development Fund Company Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Mount Olivet Housing Development Fund Company Inc?
Mount Olivet Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mount Olivet Housing Development Fund Company Inc
Mount Olivet Housing Development Fund Company Inc is dedicated to providing housing solutions for homeless families. Their mission is accomplished through various programs, including the construction and rental of a three-unit house specifically designed for homeless families. Beyond this, the organization also bears depreciation expenses associated with the buildings used to house these families. In essence, Mount Olivet Housing Development Fund Company Inc is committed to alleviating homelessness by offering safe and affordable housing options, thereby contributing to the well-being and stability of vulnerable families.
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Impact
August, 2024
Mount Olivet Housing Development Fund Company Inc's impact is evident in providing homes for homeless families through its housing programs. By building and renting a three-unit house specifically for homeless individuals, the organization is directly addressing the critical issue of homelessness in Peekskill, NY. Additionally, the incurrence of depreciation expenses on buildings used to house homeless families reflects a long-term commitment to providing stable and secure living arrangements for those in need. Overall, Mount Olivet Housing Development Fund Company Inc's efforts are making a tangible difference in the lives of homeless individuals and families by offering them a place to call home.
This information is meant to be a general summary of Mount Olivet Housing Development Fund Company 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.
- Investment Income: $1,454
- Program Service Revenue: $71,051
- Gross Receipts: $72,505
Assets and Liabilities:
- Total Assets: $202,351
- Total Liabilities: $23,146
- Net Assets: $179,205
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$71,051
Organization Details
Founding Year
1991
Phone
(914) 523-9909Principal Officer
Anthony Elcock
Main Address
PO BOX 2004, PEEKSKILL, NY, 10556
NTEE Category
Code: L80I - Housing
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