Overview
What is 1035 Broadway Housing Development Fund Company Inc?
1035 Broadway Housing Development Fund Company Inc is a nonprofit organization situated in Mount Kisco, New York. Their primary focus is to develop and manage affordable housing for individuals of low income, specifically in Thornwood, New York. They currently own and operate two buildings, housing ten residences designed for single occupancy, aiming to provide a secure, healthy, and cost-effective living environment. The organization's mission is to ensure that these residents have a stable and independent lifestyle, catering to the needs of poor, distressed, or underprivileged individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
The 1035 Broadway Housing Development Fund Company Inc has received a rating of 79%, which translates to a Three-Star rating based solely on its Accountability & Finance practices. This score indicates a solid level of financial management and transparency, reflecting the organization’s commitment to responsible governance and effective use of its resources.
The nonprofit excels in several areas, including having a fully independent board, which is critical for unbiased decision-making. It has also shown no material diversion of assets, and its policies on conflict of interest, whistleblowing, and document retention are well-established and listed, showcasing a dedication to operational integrity. The program expense ratio stands at an impressive 100%, indicating that all its expenditures are directed toward its programs.
While the overall rating is strong, it is derived from a single beacon score, which means it does not account for other aspects of the organization's performance. Stakeholders might benefit from a broader evaluation of program impact and effectiveness beyond just financial metrics.
This AI summary has been generated from information found on Charity Navigator.
Is 1035 Broadway Housing Development Fund Company Inc legitimate?
1035 Broadway Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 1035 Broadway Housing Development Fund Company 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.
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What is the mission statement of 1035 Broadway Housing Development Fund Company Inc?
1035 Broadway Housing Development Fund Company Inc's mission is centered around developing affordable housing on a non-profit basis. Specifically, the organization aims to own, manage, and promote affordable residential housing, providing a stable and healthy living environment for individuals of low income. The company currently operates two buildings in Thornwood, New York, housing ten single occupancy units, with the goal of offering an affordable and independent living space for poor, distressed, or underprivileged individuals.
What is the revenue of 1035 Broadway Housing Development Fund Company Inc?
1035 Broadway Housing Development Fund Company Inc's revenue in 2023 was $35,583.
Who are the executives of 1035 Broadway Housing Development Fund Company Inc and what are their salaries?
Here are 8 key members and their salaries:
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- Related: $111,892
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Where can I find the form 990 for 1035 Broadway Housing Development Fund Company Inc?
1035 Broadway Housing Development Fund Company Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of 1035 Broadway Housing Development Fund Company Inc
1035 Broadway Housing Development Fund Company Inc, as a non-profit organization, is dedicated to the development of affordable housing for individuals of low income. The company's mission is to own, operate, and promote residential housing, providing a stable, healthy, and affordable living environment for those who are poor, distressed, or underprivileged. To achieve this, 1035 Broadway HDFC operates two buildings in Thornwood, New York, containing ten single occupancy units. The housing project aims to offer a independent living space that is both sustainable and conducive to the well-being of its residents.
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Impact
August, 2024
1035 Broadway Housing Development Fund Company Inc directly impacts the community by providing stable, healthful, affordable, and independent living environments for individuals of low income in Thornwood, New York. Through its two buildings containing ten single occupancy units, this organization works to address the housing needs of poor, distressed, and/or underprivileged individuals in the area. By owning and operating these housing units on a nonprofit basis, 1035 Broadway HDFC plays a crucial role in promoting affordable residential housing for residents in Thornwood, NY. Their work aligns with their mission of providing a supportive housing environment for those in need.
This information is meant to be a general summary of 1035 Broadway Housing Development Fund Company 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: $139
- Program Service Revenue: $35,444
- Gross Receipts: $35,583
Assets and Liabilities:
- Total Assets: $764,901
- Total Liabilities: $1,102,442
- Net Assets: -$337,541
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT
Revenue
$17,360
HOUSING ASSISTANCE
Revenue
$16,024
OTHER RENTAL INCOME
Revenue
$2,060
Organization Details
Founding Year
1995
Principal Officer
Debbie Haglund
NTEE Category
Code: L41 - Housing
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