Overview
What is Torres Apartments Housing Development Fund Corporation?
Torres Apartments Housing Development Fund Corporation is a nonprofit organization situated in the Bronx, New York. Their primary mission is to offer safe, clean, and affordable housing to families with low to moderate incomes, specifically in the South Bronx area. To achieve this goal, they focus on providing low-income housing as part of their overall mission. Beyond housing, the organization also aims to offer quality living conditions and social services to these families, ensuring a comprehensive approach to community enhancement.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating.
Torres Apartments Housing Development Fund Corporation has received a 73% score from Charity Navigator, which reflects a modest level of accountability and financial management. The organization demonstrates strong governance with 83% of its board members being independent and having a small board size of five independent members. It also has no reported material diversion of assets and successfully documents its board meeting minutes.
The financials show that Torres Apartments allocates a significant portion of its resources directly to its programs, achieving a program expense ratio of 94.52%. This indicates a commitment to utilizing its funds effectively for its mission. However, the overall score of 73% suggests areas for improvement in transparency and performance metrics to enhance its standing within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Torres Apartments Housing Development Fund Corporation legitimate?
Torres Apartments Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Torres 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: $20,671
For more financial information, click here
What is the mission statement of Torres Apartments Housing Development Fund Corporation?
The Torres Apartments Housing Development Fund Corporation's mission is centered around providing support to low-income families. Their primary objective is to offer high-quality housing, complemented by essential social services. This commitment is aimed at enhancing the living conditions of families in the income bracket of low to moderate earnings, specifically in an unspecified location. The organization strives to ensure that the housing provided is safe, clean, and affordable, thereby contributing to the improved well-being of these families.
Who is the CEO of Torres Apartments Housing Development Fund Corporation?
Valerie Torres is the Chair of Torres Apartments Housing Development Fund Corporation.
What is the revenue of Torres Apartments Housing Development Fund Corporation?
Torres Apartments Housing Development Fund Corporation's revenue in 2022 was $185,435.
Who are the executives of Torres 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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- Other: $0
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- Compensation: $0
- Related: $153,077
- Other: $0
- Compensation: $0
- Related: $111,923
- Other: $0
Where can I find the form 990 for Torres Apartments Housing Development Fund Corporation?
Torres Apartments Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Torres Apartments Housing Development Fund Corporation
Torres Apartments Housing Development Fund Corporation is committed to providing high-quality housing and social services to families with low and moderate incomes. Their mission is to ensure that these families have access to safe, clean, and affordable housing, thereby enhancing their living conditions. By offering this essential service, the organization aims to contribute positively to the well-being of these families, thereby fostering a sense of stability and security in their lives. The corporation's mission is not just about providing housing; it extends to offering comprehensive social services that cater to the diverse needs of its residents, thereby improving their overall quality of life.
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Impact
October, 2024
Torres Apartments Housing Development Fund Corporation plays a crucial role in addressing housing needs in the South Bronx, NY, by delivering safe, clean, and affordable living spaces for low and moderate-income families. The organization focuses on enhancing the quality of life for its residents through the provision of not only housing but also essential social services.
By ensuring access to quality housing, Torres Apartments fosters community stability, allowing families to thrive in a supportive environment. This development contributes to alleviating the broader housing crisis in the region, countering the pressures of gentrification, and promoting inclusivity within the community. It empowers families by creating a foundation for financial stability, education, and health, thereby positively influencing the socioeconomic landscape of the South Bronx.
This information is meant to be a general summary of Torres 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: $1
- Program Service Revenue: $185,434
- Gross Receipts: $185,435
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$185,434
Organization Details
Founding Year
1995
Phone
(718) 842-6440Principal Officer
Valerie Torres
Main Address
1945 VYSE AVENUE, BRONX, NY, 10460
NTEE Category
Code: L200 - Housing
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