Overview
What is Belle Apartments Housing Development Fund Corporation?
Belle Apartments Housing Development Fund Corporation is a nonprofit organization situated in the South Bronx, New York. Their primary mission is to offer secure, hygienic, and reasonably priced housing to families with low and moderate incomes. By providing low-income housing, they strive to contribute positively to their community. In addition to offering housing, they aim to deliver quality social services to the families they serve, enhancing their overall well-being. The organization's address is 1945 VYSE AVENUE, Bronx, NY 10460.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33%
The Belle Apartments Housing Development Fund Corporation has received a score of 33%, resulting in a Zero-Star out of Four Star rating. This rating indicates significant concerns regarding the organization’s accountability and financial management, which is primarily assessed through a single accountability and finance beacon score. The low rating suggests that the organization may not be effectively utilizing its resources or adhering to best practices in nonprofit governance.
Strengths identified include a board composed entirely of independent members, demonstrating a commitment to governance integrity, and the absence of material diversion of assets, which indicates financial stability in terms of asset management. However, the organization falls short in several critical areas, including the lack of essential policies such as a conflict of interest policy and whistleblower policy. Additionally, the missing website and tax form on the nonprofit's site are serious deficiencies that raise questions about transparency.
Moreover, the organization has a concerning liabilities to assets ratio of 101.15%, indicating it may have more liabilities than assets, which could pose long-term sustainability issues. The organization also reported a program expense ratio of 0.00%, suggesting that it has not allocated any funds toward its stated programs. The overall assessment raises significant red flags about the organization's financial health and operational transparency, warranting caution for potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Belle Apartments Housing Development Fund Corporation legitimate?
Belle Apartments Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Belle Apartments Housing Development Fund Corporation 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 Belle Apartments Housing Development Fund Corporation?
The Belle Apartments Housing Development Fund Corporation's mission is centered around providing housing solutions. Specifically, it aims to cater to the needs of low-income and moderate-income families. This organization strives to deliver not just affordable housing, but also quality social services. The cornerstone of their mission is to enhance the living conditions of these families, ensuring they reside in safe, clean, and suitable environments.
Who is the CEO of Belle Apartments Housing Development Fund Corporation?
Valerie Torres is the Chair of Belle Apartments Housing Development Fund Corporation.
What is the revenue of Belle Apartments Housing Development Fund Corporation?
Belle Apartments Housing Development Fund Corporation's revenue in 2022 was $18,700.
Who are the executives of Belle Apartments Housing Development Fund Corporation and what are their salaries?
Here are 8 key members and their salaries:
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- Related: $37,538
- Other: $0
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- Related: $153,077
- Other: $0
- Compensation: $0
- Related: $111,923
- Other: $0
Where can I find the form 990 for Belle Apartments Housing Development Fund Corporation?
Belle Apartments Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Belle Apartments Housing Development Fund Corporation
Belle Apartments Housing Development Fund Corporation is dedicated to providing low and moderate-income families with access to high-quality housing and essential social services. Their mission is to ensure that these families in the South Bronx, New York, have access to safe, clean, and affordable living spaces. By offering such housing, the corporation aims to contribute positively to the lives of these families, enhancing their overall well-being.
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Impact
August, 2024
Belle Apartments Housing Development Fund Corporation plays a vital role in providing low-income housing to families in the South Bronx, NY. The organization's impact is deeply felt within the community, as it offers safe, clean, and affordable housing solutions to those in need. By fulfilling its mission of providing quality housing and social services to low and moderate-income families, Belle Apartments contributes significantly to enhancing the living conditions and stability of individuals and families in the region. Their commitment to improving the housing situation for vulnerable populations demonstrates a dedication to creating a positive impact on the lives of those they serve.
This information is meant to be a general summary of Belle Apartments Housing Development Fund Corporation. 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: $18,700
- Gross Receipts: $18,700
Assets and Liabilities:
- Total Assets: $581,828
- Total Liabilities: $605,400
- Net Assets: -$23,572
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Organization Details
Founding Year
1991
Principal Officer
Valerie Torres
Main Address
1945 VYSE AVENUE, BRONX, NY, 10460
NTEE Category
Code: L20 - Housing
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