Overview
What is Cumberland Gardens Housing Development Fund Company Inc?
Cumberland Gardens Housing Development Fund Company Inc is a nonprofit organization situated in New York City, specifically at 11 Park Place, 141 Street, New York, NY 10007. Their primary mission is to develop, construct, and operate housing and related facilities for the elderly and handicapped. They provide 104 subsidized, low-income housing units specifically for senior citizens. Located in Brooklyn, at Atlantic Avenue and Cumberland Street, the facility offers additional social and recreational services. Notably, 46 of its tenants are enrolled in the Enriched Housing Program, requiring special assistance and food services. With a team of seven dedicated employees, the organization aims to improve the living conditions of its elderly and handicapped residents.
Official website here: www.nyfsc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Cumberland Gardens Housing Development Fund Company Inc has received a Three-Star rating from Charity Navigator, reflecting a solid performance primarily based on its accountability and finance metrics. The organization scored exceptionally well in various areas, including having a fully independent board and maintaining excellent financial oversight practices. These strengths contribute positively to its overall governance and operational transparency.
The charity demonstrates a high program expense ratio of 87.03%, indicating that a significant portion of its funds is directed towards its mission-driven programs. Additionally, the presence of comprehensive policies regarding conflicts of interest, whistleblower protections, and document retention showcases a commitment to ethical standards and responsible management practices.
However, while the financial governance appears strong, the salary of key personnel, particularly the CEO, is notably high, which could raise questions among stakeholders regarding compensation alignment with nonprofit norms. Overall, Cumberland Gardens Housing Development Fund Company Inc shows promise in its operational integrity, but it may need to address concerns about executive pay to enhance public trust further.
This AI summary has been generated from information found on Charity Navigator.
Is Cumberland Gardens Housing Development Fund Company Inc legitimate?
Cumberland Gardens Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cumberland Gardens 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $271,525
For more financial information, click here
Official website here: www.nyfsc.org
What is the mission statement of Cumberland Gardens Housing Development Fund Company Inc?
Cumberland Gardens Housing Development Fund Company Inc is dedicated to developing, constructing, and operating housing and related facilities primarily for the elderly and individuals with disabilities. Their primary objective is to provide 104 units of subsidized, low-income housing. To cater to the needs of their residents, they offer social and recreational services. Notably, 46 of their tenants are enrolled in the Enriched Housing Program, requiring special assistance and food services. The company's mission is to provide a suitable living environment for these individuals, ensuring they receive the care they need.
Official website here: www.nyfsc.org
Who is the CEO of Cumberland Gardens Housing Development Fund Company Inc?
Linda Hoffman is the President of Cumberland Gardens Housing Development Fund Company Inc. The CEO's salary of Cumberland Gardens Housing Development Fund Company Inc is $0 and their total compensation is $724,061.
Official website here: www.nyfsc.org
What is the revenue of Cumberland Gardens Housing Development Fund Company Inc?
Cumberland Gardens Housing Development Fund Company Inc's revenue in 2022 was $2,301,350.
Official website here: www.nyfsc.org
Who are the executives of Cumberland Gardens Housing Development Fund Company Inc and what are their salaries?
The average compensation at Cumberland Gardens Housing Development Fund Company Inc during 2022 was $38,789. There are 7 employees and 7 volunteers at Cumberland Gardens Housing Development Fund Company Inc.
Here are 9 key members and their salaries (Cumberland Gardens Housing Development Fund Company Inc's CEO's salary is $0 and their total compensation is $724,061):
- Compensation: $0
- Related: $0
- Other: $0
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- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $692,717
- Other: $31,344
- Compensation: $0
- Related: $285,600
- Other: $25,497
Official website here: www.nyfsc.org
Where can I find the form 990 for Cumberland Gardens Housing Development Fund Company Inc?
Cumberland Gardens Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nyfsc.org
Learn more at the official website: www.nyfsc.org
Mission Statement of Cumberland Gardens Housing Development Fund Company Inc
Cumberland Gardens Housing Development Fund Company Inc, as its mission statement suggests, is dedicated to developing, constructing, and operating housing and related facilities primarily for the elderly and individuals with disabilities. This nonprofit organization seeks to provide a living space that is both subsidized and affordable, catering to those who fall under the low-income bracket. Beyond offering housing, the company also provides essential services, including social and recreational activities, to enhance the quality of life for its residents. A significant portion of its tenants, forty-six to be precise, are enrolled in the Enriched Housing Program. These residents require special assistance and food services, demonstrating Cumberland Gardens Housing Development Fund Company Inc's commitment to catering to the unique needs of its senior citizen population.
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Impact
October, 2024
Cumberland Gardens Housing Development Fund Company Inc significantly impacts the community by providing 104 units of subsidized low-income housing specifically designed for senior citizens. Located at the intersection of Atlantic Avenue and Cumberland Street in Brooklyn, this development not only addresses the critical need for affordable housing among the elderly but also enhances their quality of life through social and recreational services.
Among its residents, 46 individuals are part of the Enriched Housing Program, which offers additional support such as special assistance and food services. This targeted support helps to ensure that vulnerable seniors receive the care and attention they need, fostering a community that prioritizes their well-being. By developing, constructing, and operating such crucial housing facilities, Cumberland Gardens plays a vital role in creating safe, supportive living environments for elderly individuals and those with disabilities.
This information is meant to be a general summary of Cumberland Gardens 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 2022.
- Investment Income: $29
- Program Service Revenue: $312,809
- Gross Receipts: $2,301,350
Assets and Liabilities:
- Total Assets: $8,377,144
- Total Liabilities: $11,987,801
- Net Assets: -$3,610,657
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$312,809
Organization Details
Founding Year
1996
Phone
(212) 962-7653Principal Officer
Linda Hoffman
Main Address
11 PARK PLACE 1416, NEW YORK, NY, 10007
Website
www.nyfsc.orgNTEE Category
Code: L20 - Housing
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