Overview
What is Mvp Housing Development Fund Company Inc?
Mvp Housing Development Fund Company Inc, located in Flushing, New York, is a 66-unit housing complex that caters to the elderly and low-income population. As part of the United States Housing and Urban Development Section 202 Supportive Housing for the Elderly Program, this nonprofit organization provides affordable housing with features such as grab bars and ramps to ensure safety and independence for its residents. The eligible residents are typically individuals who are 62 years old or above and have an income below 50% of their area's median income. With a workforce of five individuals, Mvp Housing Development Fund Company Inc aims to contribute positively to its community by offering affordable housing solutions for the elderly and disabled population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
MVP Housing Development Fund Company Inc has received a two-star rating from Charity Navigator, indicating that the organization has significant room for improvement in its overall accountability and finance practices. The overall score stands at 69%, which reflects both strengths in certain areas and weaknesses that detract from its overall assessment. Notably, the organization performs well in its program expense ratio, utilizing 82.46% of its expenses on programs, which is a strong indicator of its commitment to its mission.
However, the organization struggles with governance, as evidenced by the low percentage of independent board members, at only 42%. Additionally, crucial financial transparency elements, such as posting tax forms and board meeting minutes on its website, are either missing or not adequately addressed, which raises concerns regarding accessibility and transparency for stakeholders.
Despite these challenges, MVP Housing Development Fund Company Inc does have robust policies in place regarding conflicts of interest, whistleblower protection, and document retention, all of which are commendable. While the organization has made strides in certain operational aspects, addressing governance and financial transparency issues will be essential for enhancing its credibility and effectiveness moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Mvp Housing Development Fund Company Inc legitimate?
Mvp Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mvp 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: $98,893
For more financial information, click here
What is the mission statement of Mvp Housing Development Fund Company Inc?
Mvp Housing Development Fund Company Inc's mission is centered around providing affordable housing for the low-income, elderly, and disabled population. The company participates in the United States Housing and Urban Development Section 202 Supportive Housing for the Elderly program, which is a federally funded initiative specifically designed for older individuals. The eligibility criteria typically require individuals to be at least 62 years old and have an income below 50% of their area's median income. The housing complex, consisting of 66 units, features special features such as grab bars and ramps to enhance safety and promote independence for its residents as they age. The primary goal of Mvp Housing Development Fund Company Inc is to make affordable housing accessible to this specific community segment.
Who is the CEO of Mvp Housing Development Fund Company Inc?
Tara Buonocore-Rut is the President/Ceo/Chairman of Mvp Housing Development Fund Company Inc. The CEO's salary of Mvp Housing Development Fund Company Inc is $0 and their total compensation is $1,056,676.
What is the revenue of Mvp Housing Development Fund Company Inc?
Mvp Housing Development Fund Company Inc's revenue in 2022 was $986,881.
Who are the executives of Mvp Housing Development Fund Company Inc and what are their salaries?
The average compensation at Mvp Housing Development Fund Company Inc during 2022 was $19,779. There are 5 employees and 11 volunteers at Mvp Housing Development Fund Company Inc.
Here are 23 key members and their salaries (Mvp Housing Development Fund Company Inc's CEO's salary is $0 and their total compensation is $1,056,676):
- Compensation: $0
- Related: $302,435
- Other: $16,431
- 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: $0
- Other: $0
- 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: $1,006,891
- Other: $49,785
- Compensation: $0
- Related: $713,813
- Other: $6,797
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $130,101
- Other: $8,703
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $329,515
- Other: $36,261
- Compensation: $0
- Related: $239,723
- Other: $8,881
- Compensation: $0
- Related: $233,258
- Other: $40,982
- Compensation: $0
- Related: $249,822
- Other: $11,843
- Compensation: $0
- Related: $235,813
- Other: $37,619
- Compensation: $0
- Related: $233,721
- Other: $21,765
- Compensation: $0
- Related: $222,988
- Other: $11,560
- Compensation: $0
- Related: $218,876
- Other: $42,004
Where can I find the form 990 for Mvp Housing Development Fund Company Inc?
Mvp Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mvp Housing Development Fund Company Inc
Mvp Housing Development Fund Company Inc, a nonprofit organization, is dedicated to providing affordable housing for the low-income, elderly, and disabled population in the community. The company participates in the United States Housing and Urban Development Section 202 Supportive Housing for the Elderly program, which is a federally funded initiative specifically designed for older persons. Eligibility for residence is typically restricted to individuals who are at least 62 years old and have an income below 50% of their area's median income.
To cater to the needs of its target population, Mvp Housing Development Fund Company Inc's apartments feature special features such as grab bars and ramps. These amenities aim to help older persons remain safer and more independent as they age. The organization's primary goal is to provide affordable housing, enabling these individuals to maintain their independence and dignity, thereby improving their overall quality of life. By offering affordable housing, Mvp Housing Development Fund Company Inc is significantly contributing to the well-being of the community's vulnerable population.
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Impact
October, 2024
MVP Housing Development Fund Company Inc significantly impacts the community by providing affordable housing options specifically tailored for low-income, elderly, and disabled populations. The organization operates a 66-unit apartment residence in Flushing, NY, which participates in the U.S. Housing and Urban Development’s Section 202 Supportive Housing for the Elderly Program. This program is unique as it is the only federally funded initiative designed explicitly for older adults.
By focusing on individuals aged 62 and older who have an income below 50% of the area’s median income, MVP Housing ensures that some of the most vulnerable members of the community have access to safe, affordable housing. The apartments include special features such as grab bars and ramps, enabling residents to age in place safely and maintain their independence.
Overall, MVP Housing Development Fund Company plays a crucial role in enhancing the quality of life for its residents, fostering stability and security in their living conditions, and contributing to a more inclusive community environment.
This information is meant to be a general summary of Mvp 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: $5,937
- Program Service Revenue: $179,934
- Gross Receipts: $986,881
Assets and Liabilities:
- Total Assets: $3,999,456
- Total Liabilities: $6,545,797
- Net Assets: -$2,546,341
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$179,934
Organization Details
Founding Year
1994
Phone
(718) 519-4238Principal Officer
Tara Buonocore-Rut
Main Address
136-65 37TH AVENUE, FLUSHING, NY, 11354
NTEE Category
Code: L22 - Housing
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