Overview
What is Mt Pleasant Housing Development Fund Company Inc?
Mt Pleasant Housing Development Fund Company Inc is a nonprofit organization situated in New York City, specifically at 421 East 116th Street. Their primary mission is to offer clean, affordable, and secure housing to senior citizens within their local community. They achieve this by receiving Section 8 payment subsidies from the HUD (U.S. Department of Housing and Urban Development). This arrangement enables the nonprofit to provide affordable living spaces for elderly residents, thereby contributing positively to their well-being and overall community development.
What are the reviews and ratings of this charity?
Charity Navigator Rating 75% - Three-Star out of Four Star Rating
Mt Pleasant Housing Development Fund Company Inc has achieved a Three-Star rating on Charity Navigator, reflecting a strong commitment to accountability and financial transparency. The charity excels particularly in its governance, with an entirely independent board and comprehensive oversight measures in place, such as an established audit committee and documented board meeting minutes.
The organization's financial stewardship is highlighted by its impressive program expense ratio of 87.69%, indicating that a significant portion of its funds are directed towards its programs rather than administrative costs. This suggests that the charity is effective in utilizing its resources to fulfill its mission.
However, while the charity's score is commendable, it is based solely on the Accountability & Finance category, with no additional metrics for performance or impact provided. This limitation may prevent a fuller understanding of the charity's overall effectiveness in achieving its goals.
This AI summary has been generated from information found on Charity Navigator.
Is Mt Pleasant Housing Development Fund Company Inc legitimate?
Mt Pleasant Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mt Pleasant 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:
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What is the mission statement of Mt Pleasant Housing Development Fund Company Inc?
Mt Pleasant Housing Development Fund Company Inc's mission is centered around providing senior citizens in the local community with clean, affordable, and safe housing. The organization achieves this by renting out apartments to these seniors, with their rents being subsidized through Section 8 payments from the Department of Housing and Urban Development (HUD). The corporation's mission is aimed at ensuring that senior citizens have access to decent living conditions, thereby enhancing their quality of life.
Who is the CEO of Mt Pleasant Housing Development Fund Company Inc?
Christopher Cirillo is the Chairman of Mt Pleasant Housing Development Fund Company Inc.
What is the revenue of Mt Pleasant Housing Development Fund Company Inc?
Mt Pleasant Housing Development Fund Company Inc's revenue in 2022 was $1,228,054.
Who are the executives of Mt Pleasant Housing Development Fund Company Inc and what are their salaries?
There 10 volunteers at Mt Pleasant Housing Development Fund Company Inc.
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- Related: $195,000
- Other: $39,641
Where can I find the form 990 for Mt Pleasant Housing Development Fund Company Inc?
Mt Pleasant Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mt Pleasant Housing Development Fund Company Inc
Mt Pleasant Housing Development Fund Company Inc is committed to providing a vital service within its community. Its mission, in simple terms, is to ensure that senior citizens have access to clean, affordable, and safe housing. This nonprofit organization goes beyond just providing housing; it strives to create a living environment that is secure and within the reach of its elderly residents. The corporation achieves this by leasing affordable apartments to senior citizens, with their rents being subsidized by Section 8 payments from the U.S. Department of Housing and Urban Development (HUD). This strategic approach enables the organization to make housing more affordable for those who need it most, thereby contributing to their overall well-being.
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Impact
October, 2024
Mt Pleasant Housing Development Fund Company Inc significantly enhances the quality of life for senior citizens in the New York community by providing clean, affordable, and safe housing. By offering subsidized rental apartments through Section 8 payments from HUD, the company ensures that seniors with limited incomes have access to stable housing options. This effort not only addresses the pressing need for affordable living spaces but also fosters a supportive environment where seniors can thrive in their later years. The agency’s commitment to creating a secure and comfortable living situation helps promote dignity and independence for its residents.
This information is meant to be a general summary of Mt Pleasant 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: $823
- Program Service Revenue: $1,227,231
- Gross Receipts: $1,228,054
Assets and Liabilities:
- Total Assets: $1,807,812
- Total Liabilities: $7,062,131
- Net Assets: -$5,254,319
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,227,231
Organization Details
Founding Year
1995
Phone
(212) 410-3153Principal Officer
Christopher Cirillo
Main Address
421 EAST 116TH STREET, NEW YORK, NY, 10029
NTEE Category
Code: L22Z - Housing
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