Overview
What is 163 West 170th Street Hdfc Inc?
163 West 170th Street Hdfc Inc is a nonprofit organization situated in the Bronx, New York, specifically at 660 East 183rd Street. Their primary mission is to provide affordable housing opportunities for low-income and moderate-income families within the community. To achieve this, they manage a property that generates revenue primarily through rental income from its occupants. The associated expenses cover essential components such as administrative fees, utilities, repairs, maintenance, taxes, and insurance, ensuring the property is efficiently operated and complies with regulations.
Official website here: www.belmontarthur.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
163 West 170th Street HDFC Inc has received a solid Three-Star rating from Charity Navigator, indicating a commendable level of accountability and financial health. The organization's score is based entirely on its accountability and finance metrics, reflecting a strong commitment to transparency and responsible financial practices.
The nonprofit has achieved high marks across various categories, notably earning full points in both its Financial Statements - Audit and Oversight Committee and its Program Expense Ratio, which stands at an impressive 74.23%. Additionally, the organization has established robust policies, including those for conflict of interest and whistleblower protection, further demonstrating its accountability to stakeholders.
While the overall rating is positive, it's important for potential supporters to consider that the rating is based solely on financial practices without additional metrics for program effectiveness or impact. This indicates a need for continued assessment of the organization's direct contributions to its mission beyond financial stewardship.
This AI summary has been generated from information found on Charity Navigator.
Is 163 West 170th Street Hdfc Inc legitimate?
163 West 170th Street Hdfc Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 163 West 170th Street 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
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Official website here: www.belmontarthur.com
What is the mission statement of 163 West 170th Street Hdfc Inc?
163 West 170th Street Hdfc Inc's mission is centered around providing affordable housing opportunities for individuals with moderate to low income. This organization aims to serve the community by offering housing solutions that are within their financial reach. The revenue for the organization primarily comes from the rental income generated from these affordable housing units. The associated expenses include administrative fees, utilities, repairs and maintenance, as well as taxes and insurance, all necessary to efficiently operate the premises and comply with regulations.
Official website here: www.belmontarthur.com
What is the revenue of 163 West 170th Street Hdfc Inc?
163 West 170th Street Hdfc Inc's revenue in 2023 was $589,665.
Official website here: www.belmontarthur.com
Who are the executives of 163 West 170th Street Hdfc Inc and what are their salaries?
Here are 3 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
Official website here: www.belmontarthur.com
Where can I find the form 990 for 163 West 170th Street Hdfc Inc?
163 West 170th Street Hdfc Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.belmontarthur.com
Learn more at the official website: www.belmontarthur.com
Mission Statement of 163 West 170th Street Hdfc Inc
163 West 170th Street HDFC Inc is dedicated to providing affordable housing opportunities for individuals and families within the low to moderate income bracket. Their primary mission is to make housing accessible to this segment of the community, generating revenue through family-subsidized rentals that occupy the property. The organization's operations encompass various necessary expenses, such as administrative fees, utilities, repairs and maintenance, tax, and insurance expenses, all essential components to efficiently manage the premises and adhere to regulations. In essence, 163 West 170th Street HDFC Inc serves as a vital resource for individuals and families seeking affordable housing options, contributing to a more equitable and inclusive community.
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Impact
July, 2024
163 West 170th Street Hdfc Inc's impact lies in providing essential low to moderate income housing opportunities for the community in Bronx, NY. Through their efforts, individuals and families in need are able to access safe and affordable housing options, contributing to overall community well-being and stability. This nonprofit organization plays a vital role in addressing the housing challenges faced by many low-income individuals, making a tangible difference in the lives of those they serve.
This information is meant to be a general summary of 163 West 170th Street 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 2023.
- Investment Income: $15,754
- Program Service Revenue: $573,911
- Gross Receipts: $589,665
Assets and Liabilities:
- Total Assets: $2,634,512
- Total Liabilities: $123,344
- Net Assets: $2,511,168
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROSS POTENTIAL RENT
Revenue
$582,759
SUPER RENT FREE UNIT
Revenue
$15,819
VACANCIES
Revenue
-$24,667
Organization Details
Founding Year
1996
Principal Officer
Paul Fracassi
Website
www.belmontarthur.comNTEE Category
Code: L22 - Housing
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