Overview
What is Morrisania Revitalization Corporation -754 E 161 Remic?
The Morrisania Revitalization Corporation, located at 754 E 161 Remic, is a nonprofit organization with a primary focus on providing affordable housing opportunities for individuals of low income. Established with a tax-exempt purpose, this corporation is dedicated to developing and managing affordable housing projects within their community. The organization's mission is centered around enhancing living conditions for those in need, contributing to the overall revitalization and improvement of the Morrisania area.
Official website here: www.mrcbx.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 81% (Three-Star out of Four Star rating)
Morrisania Revitalization Corporation has received a solid Three-Star rating from Charity Navigator, reflecting a strong score of 81%. This rating emphasizes the organization's accountability and financial health, indicating that it effectively manages its resources. The organization has consistently demonstrated responsible governance, with 100% of its board members being independent, which is a positive sign for transparency and decision-making integrity.
The charity excels in various aspects of its operations, including having no material diversion of assets, a comprehensive conflict of interest policy, and a whistleblower policy in place. Additionally, the organization has maintained a remarkable program expense ratio of 100%, indicating that all of its expenditures are directed towards its programs and mission. Such financial prudence suggests that donor contributions are being utilized effectively to support the organization’s objectives.
While the rating is fundamentally strong, it is worth noting that the score is based solely on accountability and finance, which may not encompass other critical factors such as program impact and community feedback. Prospective donors should consider this context when evaluating the overall effectiveness and reach of the Morrisania Revitalization Corporation's initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Morrisania Revitalization Corporation -754 E 161 Remic legitimate?
Morrisania Revitalization Corporation -754 E 161 Remic is a legitimate nonprofit organization registered as a 501(c)(3) entity. Morrisania Revitalization Corporation -754 E 161 Remic 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:
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For more financial information, click here
Official website here: www.mrcbx.org
What is the mission statement of Morrisania Revitalization Corporation -754 E 161 Remic?
The Morrisania Revitalization Corporation's primary mission is to establish an affordable housing project, catering to individuals with low income, on a tax-exempt basis. This organization is dedicated to this cause, with the aim of providing affordable housing solutions for those in need. The corporation is organized exclusively for this purpose, working towards the development of such a project.
Official website here: www.mrcbx.org
Who is the CEO of Morrisania Revitalization Corporation -754 E 161 Remic?
Paul Moore is the President of Morrisania Revitalization Corporation -754 E 161 Remic.
Official website here: www.mrcbx.org
What is the revenue of Morrisania Revitalization Corporation -754 E 161 Remic?
Morrisania Revitalization Corporation -754 E 161 Remic's revenue in 2022 was $1,084,489.
Official website here: www.mrcbx.org
Who are the executives of Morrisania Revitalization Corporation -754 E 161 Remic and what are their salaries?
Here are 15 key members and their salaries:
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Official website here: www.mrcbx.org
Where can I find the form 990 for Morrisania Revitalization Corporation -754 E 161 Remic?
Morrisania Revitalization Corporation -754 E 161 Remic's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mrcbx.org
Learn more at the official website: www.mrcbx.org
Mission Statement of Morrisania Revitalization Corporation -754 E 161 Remic
Morrisania Revitalization Corporation, with its base at 754 E 161 Remic, is a nonprofit organization with a singular focus. Its mission is to spearhead the development of an affordable housing project, catering to individuals of modest income. This corporation is organized with a vision to create such housing projects on a tax-exempt basis, ensuring accessibility to housing for those who might otherwise struggle to afford it. The organization's goal is to contribute to the community by providing a shelter that is within financial reach for individuals of low income.
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Impact
October, 2024
Morrisania Revitalization Corporation -754 E 161 Remic plays a crucial role in addressing the pressing need for affordable housing in the Bronx, New York. By developing housing projects specifically for low-income individuals and families, the organization helps alleviate housing insecurity and improve living conditions in the community.
The impact of this initiative extends beyond just providing shelter; it contributes to the overall revitalization of the neighborhood. By creating stable housing options, the Corporation fosters a sense of community, enhances local economic activity, and promotes social equity. Residents gain access to safe and affordable living spaces, which can lead to improved health outcomes, educational opportunities, and increased job stability.
Moreover, by focusing on low-income populations, the organization helps to combat the challenges of gentrification and displacement, ensuring that existing residents are not pushed out of their neighborhoods due to rising housing costs. The development of affordable housing is integral to supporting families, nurturing vibrant communities, and encouraging long-term economic growth in the Bronx.
This information is meant to be a general summary of Morrisania Revitalization Corporation -754 E 161 Remic. 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: $1,084,489
- Gross Receipts: $1,084,489
Assets and Liabilities:
- Total Assets: $4,580,532
- Total Liabilities: $1,658,003
- Net Assets: $2,922,529
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME HOUSING REN
Revenue
$1,084,489
Organization Details
Founding Year
1995
Phone
(718) 589-7858Principal Officer
Paul Moore
Main Address
576B EAST 165TH STREET, BRONX, NY, 10456
Website
www.mrcbx.orgNTEE Category
Code: L21 - Housing
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