Overview
What is Alliance Apartments Housing Development Fund Co?
Alliance Apartments Housing Development Fund Co is a nonprofit organization situated in New York City, specifically at 197 East Broadway, New York, NY 10002. Their primary mission is to provide federally subsidized housing for the elderly, catering to 51 apartments located at the Harry and Jeanette Weinberg Apartments, 174-180 Avenue A, New York, NY 10009. This housing initiative aims to support the elderly community in the area, ensuring they have access to safe and affordable living environments.
Official website here: www.edalliance.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 66% (Two-Star out of Four Star rating)
The Alliance Apartments Housing Development Fund Co has received a 66% rating from Charity Navigator, indicating a Two-Star designation. This score reflects notable strengths in areas such as financial oversight and accountability, with full marks for its audit and oversight committee and the management of material assets. These components suggest a level of financial responsibility that could provide some reassurance to potential donors.
However, the organization faces significant challenges, particularly regarding its board composition and transparency. The lack of independent board members and a low score related to its liabilities to assets ratio raise concerns about governance and financial stability. Additionally, while they have various essential policies in place, the absence of their tax form on the nonprofit's website is a missed opportunity for transparency.
In summary, while Alliance Apartments demonstrates strong financial management practices, the weaknesses in board independence and transparency may hinder its overall rating and public confidence. Potential supporters might want to consider these factors when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Alliance Apartments Housing Development Fund Co legitimate?
Alliance Apartments Housing Development Fund Co is a legitimate nonprofit organization registered as a 501(c)(3) entity. Alliance Apartments Housing Development Fund Co 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: $152,469
For more financial information, click here
Official website here: www.edalliance.org
What is the mission statement of Alliance Apartments Housing Development Fund Co?
Alliance Apartments Housing Development Fund Co is dedicated to providing federally subsidized housing for the elderly. Their mission is fulfilled through the creation of residential units, specifically 51 apartments, which cater to this demographic. While the specific location of these apartments is at the Harry and Jeanette Weinberg Apartments in New York, NY, the organization's primary focus remains on offering subsidized housing for the elderly nationwide.
Official website here: www.edalliance.org
Who is the CEO of Alliance Apartments Housing Development Fund Co?
Anya Hoerburger is the President of Alliance Apartments Housing Development Fund Co.
Official website here: www.edalliance.org
What is the revenue of Alliance Apartments Housing Development Fund Co?
Alliance Apartments Housing Development Fund Co's revenue in 2022 was $995,860.
Official website here: www.edalliance.org
Who are the executives of Alliance Apartments Housing Development Fund Co and what are their salaries?
There 1 volunteer at Alliance Apartments Housing Development Fund Co.
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $395,441
- Other: $30,590
- Compensation: $0
- Related: $237,973
- Other: $22,351
- Compensation: $0
- Related: $192,088
- Other: $39,766
- Compensation: $0
- Related: $174,810
- Other: $23,662
- Compensation: $0
- Related: $157,150
- Other: $19,413
- Compensation: $0
- Related: $212,199
- Other: $6,540
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.edalliance.org
Where can I find the form 990 for Alliance Apartments Housing Development Fund Co?
Alliance Apartments Housing Development Fund Co's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.edalliance.org
Learn more at the official website: www.edalliance.org
Mission Statement of Alliance Apartments Housing Development Fund Co
Alliance Apartments Housing Development Fund Co is committed to providing federally subsidized housing for the elderly. This nonprofit organization fulfills this mission by offering 51 apartments specifically designed for senior citizens. Located at the Harry and Jeanette Weinberg Apartments, this housing complex provides a safe and supportive environment for its elderly residents, ensuring they can maintain their independence and dignity. The apartments are situated in New York City, providing easy access to necessary amenities and services. By offering federally subsidized housing, Alliance Apartments Housing Development Fund Co helps make quality living more affordable for elderly individuals, enabling them to live with peace of mind and security.
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Impact
October, 2024
Alliance Apartments Housing Development Fund Co significantly impacts the community by providing federally subsidized housing specifically designed for the elderly. Located at the Harry and Jeanette Weinberg Apartments in New York, this development features 51 apartments that ensure affordable living options for seniors. By addressing the housing needs of the elderly population, it fosters a supportive environment where residents can maintain their independence while receiving necessary assistance. The availability of such housing not only enhances the quality of life for elderly individuals but also promotes a sense of community and belonging among residents. Overall, the fund plays a crucial role in alleviating housing insecurity for vulnerable seniors in New York City.
This information is meant to be a general summary of Alliance Apartments Housing Development Fund Co. 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.
- Investment Income: $331
- Program Service Revenue: $994,653
- Gross Receipts: $995,860
Assets and Liabilities:
- Total Assets: $2,657,429
- Total Liabilities: $6,357,952
- Net Assets: -$3,700,523
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$994,653
Organization Details
Founding Year
1997
Phone
(212) 765-7900Principal Officer
Anya Hoerburger
Main Address
197 EAST BROADWAY, NEW YORK, NY, 10002
Website
www.edalliance.orgNTEE Category
Code: L99 - Housing
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