Overview
What is Downtown Manhattan Community Development Corp?
Downtown Manhattan Community Development Corp, established in 1994, is a nonprofit organization situated in New York City, specifically at 141 NORFOLK ST, New York, NY 10002. Their primary mission involves offering affordable housing, urban planning, community preservation, and development for the residents of Lower Manhattan. They also provide technical assistance and advocate for community needs. Besides this, they manage a building at 1 Pike St, NY, NY, which houses 16 apartment units and 3 commercial spaces, ensuring the maintenance of regulated rental activities. The organization's workforce is relatively small, with only 1 employee.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Downtown Manhattan Community Development Corp has achieved a Three-Star rating from Charity Navigator, indicative of a solid level of accountability and financial health. With a score of 79%, the organization demonstrates strong governance practices, including a fully independent board and comprehensive policies for conflict of interest and whistleblower protection. Their program expense ratio is notably high at 96.03%, suggesting that a significant portion of their funds is directed towards their stated mission.
The charity has also received high marks for its audit and oversight practices, reflecting a commitment to transparency and responsible financial management. The absence of material asset diversion further underscores their integrity in handling contributions. Overall, the organization's structure and financial practices are commendable and provide a level of assurance to donors regarding the effective use of funds.
However, while the financials are robust, the relatively moderate overall score suggests that there may be room for improvement in some operational areas or outreach efforts. Potential supporters may wish to consider any recent developments and future initiatives that could enhance the organization's impact within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Downtown Manhattan Community Development Corp legitimate?
Downtown Manhattan Community Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Downtown Manhattan Community Development Corp 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: $277,769
For more financial information, click here
What is the mission statement of Downtown Manhattan Community Development Corp?
The Downtown Manhattan Community Development Corp, established in 1994, is dedicated to providing affordable housing, planning and implementation, community preservation and development, urban planning, technical assistance, and community advocacy for its residents. Its primary goal is to enhance the living conditions of the community, focusing on affordable housing solutions and urban development. The organization also offers technical assistance and serves as an advocate for its residents, ensuring their needs and concerns are addressed. Its activities extend to maintaining and providing regulated apartment housing, providing a total of 16 units and three commercial spaces.
Who is the CEO of Downtown Manhattan Community Development Corp?
Thomas Yu is the Executive Director of Downtown Manhattan Community Development Corp.
What is the revenue of Downtown Manhattan Community Development Corp?
Downtown Manhattan Community Development Corp's revenue in 2022 was $855,851.
Who are the executives of Downtown Manhattan Community Development Corp and what are their salaries?
The average compensation at Downtown Manhattan Community Development Corp during 2022 was $277,769. There is 1 employee at Downtown Manhattan Community Development Corp.
Here are 8 key members and their salaries:
- Compensation: $277,769
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Where can I find the form 990 for Downtown Manhattan Community Development Corp?
Downtown Manhattan Community Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Downtown Manhattan Community Development Corp
The Downtown Manhattan Community Development Corporation, established in 1994, is dedicated to serving the residents of Lower Manhattan. Its mission encompasses providing affordable housing, engaging in urban planning, implementing community preservation and development projects, offering technical assistance, and advocating for the community's interests. This nonprofit organization aims to enhance the quality of life for locals by ensuring affordable living arrangements, promoting sustainable urban growth, and providing necessary support and guidance to help the community thrive. The Downtown Manhattan Community Development Corporation's activities span across various sectors, including the provision of regulated apartment housing and commercial spaces, thereby contributing significantly to the local community's socio-economic development.
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Impact
October, 2024
Downtown Manhattan Community Development Corp (DMCDC) has significantly influenced the Lower Manhattan area by focusing on affordable housing and community development since its inception in 1994. One of its key contributions is the maintenance and provision of regulated apartment housing, exemplified by its management of a residential building at 1 Pike St, which includes 16 residential units and three commercial spaces.
By prioritizing affordable housing, DMCDC fosters community stability and supports residents who might otherwise be priced out of the rapidly changing urban landscape. The organization also engages in urban planning, providing technical assistance and advocating for the needs of the community. Its efforts in planning and implementation enhance the quality of life for residents, ensuring that Lower Manhattan remains a vibrant, inclusive area where people can live and thrive. Through these initiatives, DMCDC plays a crucial role in preserving the character and heritage of the community while adapting to modern urban challenges.
This information is meant to be a general summary of Downtown Manhattan Community Development Corp. 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: $40,641
- Program Service Revenue: $689,392
- Gross Receipts: $855,851
Assets and Liabilities:
- Total Assets: $2,534,936
- Total Liabilities: $2,825,316
- Net Assets: -$290,380
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$564,392
PROGRAM
Revenue
$125,000
Organization Details
Founding Year
1994
Phone
(212) 477-2265Principal Officer
Thomas Yu
Main Address
141 NORFOLK ST, NEW YORK, NY, 10002
NTEE Category
Code: L25Z - Housing
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