Overview
What is New Walton Avenue Housing Development Fund Corporation?
New Walton Avenue Housing Development Fund Corporation is a nonprofit organization that focuses on providing educational benefits to kindergarten children by operating and maintaining community facility space. They have a significant history, having acquired 10 parcels of real estate along with related structures and assets in 2017, following a plan of dissolution and asset distribution, approved by the Attorney General. The organization's mission remains largely undisclosed, as indicated by the "See Schedule O" note, but its commitment to kindergarten education and real estate management is evident.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star Rating
The New Walton Avenue Housing Development Fund Corporation has achieved a commendable 94% rating, earning a Four-Star designation from Charity Navigator. This high score reflects a strong performance in accountability and finance, indicating that the organization effectively manages its resources and maintains transparency in its operations.
The organization excels in several key areas including having a predominantly independent board, with 80% of its members meeting this criterion. Additionally, they demonstrate robust financial oversight and governance practices, as evidenced by perfect scores in audit and oversight measures, along with established conflict of interest and whistleblower policies. Their exceptional program expense ratio of 97.06% indicates that a significant portion of their funding is directed towards their mission-related activities.
While the organization showcases impressive financial health with a low liabilities to assets ratio of 9.02%, there are no noted limitations or concerns in the available data. This positions New Walton Avenue Housing Development Fund Corporation as a reliable nonprofit dedicated to its objectives, reflecting a commitment to ethical standards and effective use of donor funds.
This AI summary has been generated from information found on Charity Navigator.
Is New Walton Avenue Housing Development Fund Corporation legitimate?
New Walton Avenue Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Walton Avenue 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
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What is the mission statement of New Walton Avenue Housing Development Fund Corporation?
The New Walton Avenue Housing Development Fund Corporation is dedicated to serving the educational needs of kindergarten children by managing and maintaining community facilities. In 2017, the organization acquired 10 properties and their corresponding buildings, improvements, and fixtures as part of a plan to dissolve and distribute its assets. While the specific mission statement regarding the educational benefits and goals for the children is not provided, it can be inferred that the corporation aims to provide a conducive environment for kindergarten children's learning and development.
Who is the CEO of New Walton Avenue Housing Development Fund Corporation?
Heng Ly is the Secretary/Treasurer of New Walton Avenue Housing Development Fund Corporation.
What is the revenue of New Walton Avenue Housing Development Fund Corporation?
New Walton Avenue Housing Development Fund Corporation's revenue in 2022 was $2,393,374.
Who are the executives of New Walton Avenue Housing Development Fund Corporation and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $334,452
- Other: $62,252
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for New Walton Avenue Housing Development Fund Corporation?
New Walton Avenue Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of New Walton Avenue Housing Development Fund Corporation
New Walton Avenue Housing Development Fund Corporation is an organization with a mission to benefit kindergarten children by managing and maintaining community facilities. Beyond this, the corporation acquired a significant amount of real estate, including buildings, improvements, and fixtures, in 2017, following a plan of dissolution and asset distribution that was approved by the Attorney General. This move further solidifies the corporation's commitment to its educational mission, expanding its capacity to serve and support young learners. The acquisition of these properties not only enhances the organization's facilities but also indicates a substantial investment in the educational growth and development of kindergarten children.
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Impact
October, 2024
New Walton Avenue Housing Development Fund Corporation significantly impacts the Bronx community by providing essential educational facilities specifically designed for kindergarten children. By operating and maintaining community spaces, the organization ensures that young learners have access to safe and supportive environments that foster their educational development.
Additionally, the acquisition of 10 parcels of real property, including various buildings and improvements, allows for enhanced educational infrastructure. This strategic move supports the long-term goal of creating sustainable learning environments that cater to the needs of early childhood education. Through these efforts, the corporation plays a vital role in promoting early childhood education accessibility and quality, directly benefiting families and contributing to the overall development of the community.
This information is meant to be a general summary of New Walton Avenue 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: $2,393,374
- Gross Receipts: $2,393,374
Assets and Liabilities:
- Total Assets: $3,753,866
- Total Liabilities: $339,255
- Net Assets: $3,414,611
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NON-RESIDENTAL RENTAL INCOME
Revenue
$283,408
RESIDENTIAL RENTAL INCOME
Revenue
$2,109,966
Organization Details
Founding Year
1995
Phone
(718) 367-3200Principal Officer
Heng Ly
Main Address
2751 GRAND CONCOURSE, BRONX, NY, 10468
NTEE Category
Code: L80 - Housing
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