Overview
What is 1385 Nelson Avenue Hdfc Inc?
1385 Nelson Avenue Hdfc Inc is a nonprofit organization situated in the Bronx, New York, with its headquarters at 660 East 183rd Street. The primary mission of this nonprofit is to offer affordable housing opportunities to low-income and moderate-income families within the community. Revenue for the organization is primarily derived from rental income generated from these properties. Operational expenses include administrative fees, utility costs, repairs and maintenance, taxes, and insurance, ensuring the efficient operation of the premises while adhering to regulations.
Official website here: www.belmontarthurldc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating.
1385 Nelson Avenue Hdfc Inc has received a commendable score of 81%, highlighting its strong accountability and financial practices. The rating primarily reflects its performance in accountability and finance, where it scored 81%. The organization has established important policies regarding conflict of interest, whistleblower protections, and document retention, all of which contribute positively to its operational transparency.
A significant strength of this nonprofit is its financial management, as evidenced by a program expense ratio of 75.04%, indicating that a large portion of its funds is directed towards its programs rather than administrative costs. Additionally, the lack of any material diversion of assets suggests solid oversight and governance practices. However, the board composition indicates potential areas for improvement, with only 33% independent board members and a low count of independent board members overall, which may limit diverse perspectives in decision-making.
While the organization's financial practices appear robust, the governance structure could benefit from increased independence among board members to enhance oversight. Overall, 1385 Nelson Avenue Hdfc Inc demonstrates strong accountability, but addressing board independence might further strengthen its operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is 1385 Nelson Avenue Hdfc Inc legitimate?
1385 Nelson Avenue Hdfc Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 1385 Nelson Avenue 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.belmontarthurldc.com
What is the mission statement of 1385 Nelson Avenue Hdfc Inc?
1385 Nelson Avenue Hdfc Inc's mission is centered around providing housing opportunities for individuals and families with low to moderate incomes. This organization strives to make a significant impact on the community by offering suitable living spaces. The revenue for this mission is primarily generated through subsidized rental payments from these income-restricted tenants. The associated expenses cover various necessary components, such as administrative fees, utilities, repairs and maintenance, tax, and insurance expenses, ensuring the property is efficiently operated and complies with regulations.
Official website here: www.belmontarthurldc.com
Who is the CEO of 1385 Nelson Avenue Hdfc Inc?
Consolato Cicciu is the President of 1385 Nelson Avenue Hdfc Inc.
Official website here: www.belmontarthurldc.com
What is the revenue of 1385 Nelson Avenue Hdfc Inc?
1385 Nelson Avenue Hdfc Inc's revenue in 2022 was $672,520.
Official website here: www.belmontarthurldc.com
Who are the executives of 1385 Nelson Avenue Hdfc Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.belmontarthurldc.com
Where can I find the form 990 for 1385 Nelson Avenue Hdfc Inc?
1385 Nelson Avenue Hdfc Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.belmontarthurldc.com
Learn more at the official website: www.belmontarthurldc.com
Mission Statement of 1385 Nelson Avenue Hdfc Inc
1385 Nelson Avenue HDFC Inc, as a nonprofit organization, is dedicated to providing affordable housing opportunities for individuals and families falling under the low-income to moderate-income bracket. The organization's primary mission is to offer a supportive living environment, ensuring that eligible families can secure a place to call home. The revenue for 1385 Nelson Avenue HDFC Inc is primarily derived from low to moderate income family-subsidized rentals occupying the property, which includes administrative fees, utility expenses, repair and maintenance costs, as well as tax and insurance payments. These expenses are essential for efficiently operating the premises and adhering to regulations, ultimately enabling the organization to fulfill its mission of providing affordable housing opportunities for the community.
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Impact
July, 2024
1385 Nelson Avenue Hdfc Inc's impact lies in providing low to moderate-income housing opportunities for the community in Bronx, NY. The organization generates revenues primarily through subsidized rentals occupied by low to moderate-income families. These rentals contribute to the rental income which is then used to cover administrative fees, utilities, repair and maintenance costs, as well as tax and insurance expenses. By efficiently managing these properties, 1385 Nelson Avenue Hdfc Inc plays a vital role in ensuring affordable housing options for individuals and families in need within the community.
This information is meant to be a general summary of 1385 Nelson Avenue 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.
- Investment Income: $10,135
- Program Service Revenue: $662,385
- Gross Receipts: $672,520
Assets and Liabilities:
- Total Assets: $2,675,138
- Total Liabilities: $85,865
- Net Assets: $2,589,273
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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
$693,341
VACANCIES
Revenue
-$31,198
OTHER RENTAL INCOME
Revenue
$242
Organization Details
Founding Year
1998
Principal Officer
Consolato Cicciu
Main Address
660 EAST 183RD STREET, BRONX, NY, 10458
Website
www.belmontarthurldc.comNTEE Category
Code: L21 - Housing
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