Overview
What is Tremont Apartments Housing Development Fund Corporation?
Tremont Apartments Housing Development Fund Corporation is a nonprofit organization situated in the South Bronx, New York, with a specific mission to offer safe, clean, and affordable housing options to families with low and moderate incomes. Established with this purpose in mind, the organization is dedicated to providing low-income housing within the community. By doing so, it aims to contribute positively to the local area and ensure that various families can call a comfortable home their own, despite their financial circumstances.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33%, Zero-Star out of Four Star rating.
The Tremont Apartments Housing Development Fund Corporation has received a low score primarily due to significant gaps in accountability and transparency. While the organization has a strong independent board with 66% of its members being independent, it fails to meet several critical governance standards, including the absence of essential policies such as conflict of interest and whistleblower protection.
Despite having no material diversion of assets and properly documenting board meeting minutes, the organization falls short in demonstrating effective program expenditures, as indicated by a program expense ratio of 0.00%. Additionally, the lack of a website listed on their tax form and missing documentation related to their financial practices further detracts from their accountability profile.
Overall, while there are positive aspects regarding governance, the substantial limitations in financial transparency and program effectiveness lead to a concerning overall rating. Stakeholders may want to be cautious and seek more information about the organization's operations and impact before engaging further.
This AI summary has been generated from information found on Charity Navigator.
Is Tremont Apartments Housing Development Fund Corporation legitimate?
Tremont Apartments Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tremont 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 Tremont Apartments Housing Development Fund Corporation?
The Tremont Apartments Housing Development Fund Corporation is dedicated to providing a mission that prioritizes the well-being of low-income families. Their primary objective is to offer safe and clean living spaces that are affordable for families falling within the low and moderate income brackets. This mission is specifically targeted towards the South Bronx, New York. The corporation's aim is to contribute positively to the living conditions of these families, thereby improving their overall quality of life.
Who is the CEO of Tremont Apartments Housing Development Fund Corporation?
Valerie Torres is the Chair of Tremont Apartments Housing Development Fund Corporation.
What is the revenue of Tremont Apartments Housing Development Fund Corporation?
Tremont Apartments Housing Development Fund Corporation's revenue in 2022 was $79,973.
Who are the executives of Tremont 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 Tremont Apartments Housing Development Fund Corporation?
Tremont Apartments Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tremont Apartments Housing Development Fund Corporation
Tremont Apartments Housing Development Fund Corporation is dedicated to providing low-income families with safe, clean, and affordable housing. This nonprofit organization has a mission to cater to the housing needs of families falling within the low and moderate income brackets, operating in an unspecified location. The corporation's primary objective is to ensure these families have a secure living environment, providing them with a sense of stability and comfort. Its mission is a testament to its commitment to improving the living conditions of those who may otherwise struggle to afford decent housing.
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Impact
August, 2024
Tremont Apartments Housing Development Fund Corporation's impact is evident in the provision of safe, clean, and affordable housing to low and moderate-income families in the South Bronx, NY. Through their work, they are addressing the critical need for housing security among vulnerable populations, contributing to the overall well-being and stability of the community.
This information is meant to be a general summary of Tremont 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: $79,973
- Gross Receipts: $79,973
Assets and Liabilities:
- Total Assets: $2,888,977
- Total Liabilities: $7,826
- Net Assets: $2,881,151
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Organization Details
Founding Year
1995
Phone
(718) 842-6440Principal Officer
Valerie Torres
Main Address
1945 VYSE AVENUE, BRONX, NY, 10460
NTEE Category
Code: L20Z - Housing
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