Overview
What is Grand Concourse East Housing Development Fund Corporation?
Grand Concourse East Housing Development Fund Corporation is a nonprofit organization situated in the Bronx, New York, specifically at 900 Grand Concourse, 10451. Established with charitable intentions, its primary mission is to provide affordable housing for low-income individuals. The corporation manages and leases multiple dwellings, acquiring properties under the New York City Housing Preservation and Development and the Neighborhood Ownership Works (NOW) Program. As of May 30, 1995, and November 30, 1996, Grand Concourse East HDFC owns ten such properties, including 225 East 163rd St, 967 Sherman Ave, 1003 Grant Ave, and 1302 College Ave. The corporation's mission is to cater to the housing needs of the less fortunate and contribute to the community's welfare.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: One-Star out of Four Stars (50%)
The Grand Concourse East Housing Development Fund Corporation has received a low rating of 50% from Charity Navigator, indicating potential concerns regarding its accountability and financial practices. The organization scored particularly poorly in areas such as board independence, financial statement transparency, and compliance with posting requirements for critical documents on its website.
Despite these shortcomings, the organization demonstrated a strong program expense ratio of 80.88%, suggesting that a significant portion of its expenditures directly supports its mission-related activities. Additionally, it has established policies for conflict of interest and document retention, which reflect some level of governance structure in place.
However, the lack of independent board members and transparency regarding financial statements raises questions about the organization's overall governance and accountability. Stakeholders may want to consider these factors carefully when evaluating the nonprofit's effectiveness and reliability.
This AI summary has been generated from information found on Charity Navigator.
Is Grand Concourse East Housing Development Fund Corporation legitimate?
Grand Concourse East Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Grand Concourse East 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: $104,250
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Grand Concourse East Housing Development Fund Corporation?
The Grand Concourse East Housing Development Fund Corporation was established for a charitable purpose, specifically to develop housing for individuals of low income. This mission is carried out through the organization's operation, management, and leasing of low-income rental properties. The corporation, acting as a non-profit entity, provides affordable housing options under the New York City Housing Preservation and Development and the Neighborhood Ownership Works (NOW) program. The Grand Concourse East HDFC currently manages ten multiple dwellings, which were acquired under the NOW program in 1995 and 1996.
Who is the CEO of Grand Concourse East Housing Development Fund Corporation?
Jeanette Puryear is the Chairman of Grand Concourse East Housing Development Fund Corporation.
What is the revenue of Grand Concourse East Housing Development Fund Corporation?
Grand Concourse East Housing Development Fund Corporation's revenue in 2022 was $2,417,724.
Who are the executives of Grand Concourse East Housing Development Fund Corporation and what are their salaries?
There 2 volunteers at Grand Concourse East Housing Development Fund Corporation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $174,301
- Other: $33,717
- Compensation: $0
- Related: $147,990
- Other: $33,717
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Grand Concourse East Housing Development Fund Corporation?
Grand Concourse East Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Grand Concourse East Housing Development Fund Corporation
Grand Concourse East Housing Development Fund Corporation, established as a charitable entity, is dedicated to a noble mission. This mission centers around providing housing for individuals of low income, a vital need in many communities. The corporation operates, manages, and leases several low-income rental properties, ensuring that qualified individuals can secure housing. Grand Concourse East HDFC's initiatives are part of the New York City Housing Preservation and Development Program and the Neighborhood Ownership Works (NOW) Program. The organization acquired ten multiple dwellings under the NOW Program on May 30, 1995, and November 30, 1996, further extending its capacity to cater to the housing needs of the less fortunate. By pursuing this mission diligently, Grand Concourse East Housing Development Fund Corporation contributes significantly to the well-being of its community, offering a vital service in the realm of affordable housing.
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Impact
October, 2024
Grand Concourse East Housing Development Fund Corporation significantly impacts the community by providing affordable housing solutions for low-income individuals and families in the Bronx. Operating multiple residential buildings across key locations, the organization focuses on developing and maintaining properties specifically designed to meet the needs of those with limited financial resources.
By managing and leasing these low-income rental units, Grand Concourse East HDFC plays a crucial role in enhancing housing stability for vulnerable populations. Their efforts help to alleviate housing insecurity, foster community development, and improve the overall quality of life for residents. Through programs aligned with New York City Housing Preservation and Development, the organization ensures that essential support is available to qualified individuals, making it possible for them to secure safe and sustainable living environments. This commitment to affordable housing not only addresses immediate housing needs but also contributes to the long-term vitality of the neighborhoods they serve.
This information is meant to be a general summary of Grand Concourse East 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.
- Program Service Revenue: $2,107,482
- Gross Receipts: $2,417,724
Assets and Liabilities:
- Total Assets: $1,454,007
- Total Liabilities: $704,190
- Net Assets: $749,817
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,107,482
Organization Details
Founding Year
1995
Phone
(718) 588-8200Principal Officer
Jeanette Puryear
Main Address
900 GRAND CONCOURSE, BRONX, NY, 10451
NTEE Category
Code: L20 - Housing
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