Overview
What is Lucille C Clark Housing Development Fund Company Inc?
Lucille C Clark Housing Development Fund Company Inc, located in New York City, New York, serves as a nonprofit organization dedicated to providing senior citizens with affordable housing. Situated at 421 EAST 116TH STREET, this organization leases apartments to elderly residents, whose rents are supported by Section 8 payments from the HUD. The company's mission is to ensure the senior citizens residing in the community have access to clean, safe, and affordable housing. Their central objective is to enhance the living conditions and well-being of senior citizens in the local area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Stars)
Lucille C Clark Housing Development Fund Company Inc has received a Three-Star rating from Charity Navigator, which reflects a solid score of 75%. This rating is primarily based on the organization’s accountability and finance practices, indicating that it adheres to important financial standards and governance practices.
Strengths highlighted in the data include a fully independent board with no conflicts of interest, as well as strong financial oversight, evidenced by a comprehensive audit and oversight committee. The organization also demonstrates a high program expense ratio of 97.26%, suggesting that the majority of its expenditures directly support its mission.
However, the organization faces a significant concern with its liabilities to assets ratio, which stands at 278.83%. This figure indicates that the nonprofit may have a challenging financial situation, which could impact its long-term sustainability. Overall, while Lucille C Clark Housing Development Fund Company Inc shows commendable accountability practices, its financial leverage merits further scrutiny.
This AI summary has been generated from information found on Charity Navigator.
Is Lucille C Clark Housing Development Fund Company Inc legitimate?
Lucille C Clark Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lucille C Clark 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:
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What is the mission statement of Lucille C Clark Housing Development Fund Company Inc?
Lucille C Clark Housing Development Fund Company Inc's mission is centered around providing senior citizens with clean, affordable, and safe housing. This mission is carried out within the local community. The corporation achieves this by renting out apartments at affordable prices for senior citizens. The rents for these apartments are subsidized by Section 8 payments from HUD. In essence, Lucille C Clark Housing Development Fund Company Inc is dedicated to ensuring that senior citizens have access to decent living conditions at prices they can afford.
Who is the CEO of Lucille C Clark Housing Development Fund Company Inc?
Christopher Cirillo is the Chairman of Lucille C Clark Housing Development Fund Company Inc.
What is the revenue of Lucille C Clark Housing Development Fund Company Inc?
Lucille C Clark Housing Development Fund Company Inc's revenue in 2022 was $771,321.
Who are the executives of Lucille C Clark Housing Development Fund Company Inc and what are their salaries?
There 10 volunteers at Lucille C Clark Housing Development Fund Company Inc.
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- Related: $195,000
- Other: $39,641
Where can I find the form 990 for Lucille C Clark Housing Development Fund Company Inc?
Lucille C Clark Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lucille C Clark Housing Development Fund Company Inc
Lucille C Clark Housing Development Fund Company Inc is committed to providing senior citizens with clean, affordable, and safe housing within the local community. Their primary mission is to ensure that elderly individuals have a secure living space that fits their budget. To accomplish this, the organization rents out apartments to senior citizens, and the rents for these residences are subsidized through Section 8 payments from the HUD. This subsidy program enables Lucille C Clark Housing Development Fund Company Inc to offer affordable housing options to senior citizens, making it easier for them to maintain a stable living environment. This mission is essential in providing a sense of security and independence to senior citizens, allowing them to live comfortably and with dignity.
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Impact
October, 2024
Lucille C Clark Housing Development Fund Company Inc plays a vital role in enhancing the quality of life for senior citizens in New York City by providing clean, affordable, and safe housing options. The organization focuses specifically on the needs of older adults, ensuring that they have access to subsidized apartments through Section 8 payments from HUD. This support not only alleviates financial burdens for seniors but also contributes to their overall well-being and stability. By creating a secure living environment, the organization fosters a sense of community and belonging among residents, promoting independence and dignity for those in their golden years.
This information is meant to be a general summary of Lucille C Clark 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: $1,266
- Program Service Revenue: $766,080
- Gross Receipts: $771,321
Assets and Liabilities:
- Total Assets: $2,756,754
- Total Liabilities: $7,687,125
- Net Assets: -$4,930,371
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$766,080
Organization Details
Founding Year
1997
Phone
(212) 410-3153Principal Officer
Christopher Cirillo
Main Address
421 EAST 116TH STREET, NEW YORK, NY, 10029
NTEE Category
Code: L81 - Housing
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