Overview
What is New Fordham Hdfc Inc?
New Fordham Hdfc Inc is a nonprofit organization situated in the Bronx, New York. Its primary mission is to provide affordable housing options for families with low and very-low incomes. The organization operates seven buildings, housing a total of 136 residential apartments, all located in the Bronx. By offering these homes, New Fordham Hdfc Inc aims to contribute positively to the local community, ensuring that families in need have a secure place to live.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star rating
New Fordham HDFC Inc has achieved a strong 94% rating from Charity Navigator, reflecting its commitment to accountability and financial health. This high score is derived solely from its exceptional performance in the Accountability & Finance beacon, indicating robust oversight and responsible management of resources.
The organization demonstrates a strong governance structure, with 80% of its board members being independent and a well-structured audit and oversight committee. Additionally, New Fordham HDFC Inc has implemented important policies regarding conflict of interest, whistleblowing, and document retention, showcasing a commitment to ethical practices and transparency.
Financially, the nonprofit maintains an impressive program expense ratio of 98.20%, meaning that nearly all its expenditures are directed towards programmatic activities. The liabilities to assets ratio of 19.84% further indicates a sound financial standing, giving confidence in its operational stability and capacity to continue its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is New Fordham Hdfc Inc legitimate?
New Fordham Hdfc Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Fordham Hdfc Inc 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 New Fordham Hdfc Inc?
New Fordham Hdfc Inc's mission is centered around providing affordable housing solutions. The organization operates a total of seven buildings, housing 136 residential apartments, specifically catering to families with low and very low-income levels. This non-profit entity's primary activity is dedicated to making housing accessible to individuals and families who fall under these income brackets.
Who is the CEO of New Fordham Hdfc Inc?
Heng Ly is the Secretary/Treasurer of New Fordham Hdfc Inc.
What is the revenue of New Fordham Hdfc Inc?
New Fordham Hdfc Inc's revenue in 2022 was $1,651,138.
Who are the executives of New Fordham Hdfc Inc 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 Fordham Hdfc Inc?
New Fordham Hdfc Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of New Fordham Hdfc Inc
New Fordham HDFC Inc, as the information suggests, is dedicated to providing affordable housing solutions for families with low and very low incomes. This nonprofit organization operates seven buildings, housing a total of 136 residential apartments. By doing so, New Fordham HDFC Inc plays a significant role in addressing the housing needs of these economically disadvantaged families, thereby contributing to their overall well-being and stability.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
New Fordham HDFC Inc significantly impacts the Bronx community by providing affordable rental housing to low and very low-income families. Operating seven buildings with a total of 136 residential apartments, the organization addresses the critical need for stable and affordable housing in an area where such opportunities are often limited. By ensuring access to safe and affordable living spaces, New Fordham HDFC Inc plays a vital role in enhancing the quality of life for families in the Bronx, contributing to community stability, and fostering an environment where residents can thrive despite economic challenges. This focus on affordable housing also has broader implications for crime reduction and social cohesion, as secure living conditions can lead to a decrease in neighborhood instability and increase community engagement.
This information is meant to be a general summary of New Fordham Hdfc Inc. 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: $1,651,138
- Gross Receipts: $1,651,138
Assets and Liabilities:
- Total Assets: $3,307,328
- Total Liabilities: $656,207
- Net Assets: $2,651,121
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,651,138
Organization Details
Founding Year
1995
Phone
(718) 367-3200Principal Officer
Heng Ly
Main Address
2751 GRAND CONCOURSE, BRONX, NY, 104683001
NTEE Category
Code: I20 - Crime
If you are a representative of New Fordham Hdfc Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.