Overview
What is K&L Housing Development Fund Company Inc?
K&L Housing Development Fund Company Inc, situated in New York, New York, is a dedicated nonprofit organization. Their primary mission is to offer housing and essential services to low-income elderly and handicapped individuals, ensuring they live with dignity and independence. Through their activities, they strive to make a significant impact in their community by addressing the unique needs of this vulnerable population.
Official website here: www.wsfssh.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, Two-Star out of Four Stars
K&L Housing Development Fund Company Inc has received a rating of "Needs Improvement" with a score of 73% from Charity Navigator. This rating indicates that while the organization demonstrates some strengths in areas such as financial oversight and accountability, there are notable weaknesses that could impact its overall effectiveness and transparency.
One of the organization's strengths is its robust audit and oversight committee, which scored full points in that area. Additionally, K&L Housing has a solid program expense ratio, reflecting a commitment to its mission. However, the lack of independent board members raises concerns about governance, as the absence of independent oversight can affect decision-making processes and accountability.
Limitations noted include a low score in the liabilities to assets ratio, indicating potential financial risk, and the failure to post its tax form on the nonprofit's website, which detracts from transparency efforts. These factors combined contribute to the overall two-star rating, suggesting that while K&L Housing Development Fund is making strides, improvements in governance and financial practices are necessary for better performance and trustworthiness.
This AI summary has been generated from information found on Charity Navigator.
Is K&L Housing Development Fund Company Inc legitimate?
K&L Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. K&L 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: $318,048
For more financial information, click here
Official website here: www.wsfssh.org
What is the mission statement of K&L Housing Development Fund Company Inc?
K&L Housing Development Fund Company Inc is committed to providing housing and essential services to individuals who are elderly and have disabilities, falling into the low-income bracket. Their mission is centered around catering to this specific demographic, ensuring they have access to safe and suitable living environments. The organization's activities encompass more than just housing, extending to the provision of necessary services to enhance the quality of life for these individuals.
Official website here: www.wsfssh.org
Who is the CEO of K&L Housing Development Fund Company Inc?
Paul R Freitag is the Secretary of K&L Housing Development Fund Company Inc.
Official website here: www.wsfssh.org
What is the revenue of K&L Housing Development Fund Company Inc?
K&L Housing Development Fund Company Inc's revenue in 2022 was $1,022,266.
Official website here: www.wsfssh.org
Who are the executives of K&L Housing Development Fund Company Inc and what are their salaries?
There 4 volunteers at K&L Housing Development Fund Company Inc.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $191,415
- Other: $5,750
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $238,555
- Other: $51,053
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $190,131
- Other: $49,630
Official website here: www.wsfssh.org
Where can I find the form 990 for K&L Housing Development Fund Company Inc?
K&L Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wsfssh.org
Learn more at the official website: www.wsfssh.org
Mission Statement of K&L Housing Development Fund Company Inc
K&L Housing Development Fund Company Inc is committed to providing housing and essential services to low-income elderly and handicapped individuals. This nonprofit organization's mission revolves around catering to the unique needs of this vulnerable population, ensuring they live with dignity and independence. By offering housing solutions, K&L Housing Development Fund Company Inc aims to create safe and accessible living environments for its beneficiaries, enabling them to lead fulfilling lives. The organization's services extend beyond providing shelter, as they also strive to address the holistic needs of their residents, fostering a sense of community and well-being.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
K&L Housing Development Fund Company Inc significantly impacts the community by addressing the vital need for housing and support services tailored specifically for low-income elderly and handicapped individuals. By providing accessible living accommodations, the organization enhances the quality of life for vulnerable populations in New York City, fostering independence and dignity.
The services offered not only meet basic housing needs but also contribute to the overall well-being of residents by creating a supportive environment that allows them to thrive. This targeted assistance reduces the risk of homelessness among the elderly and handicapped, ensuring that they have a safe and stable place to call home. K&L Housing Development Fund Company Inc plays a crucial role in promoting social equity and inclusion, making a positive difference in the lives of those who are often marginalized.
This information is meant to be a general summary of K&L 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: $47
- Program Service Revenue: $1,022,016
- Gross Receipts: $1,022,266
Assets and Liabilities:
- Total Assets: $3,580,864
- Total Liabilities: $6,474,147
- Net Assets: -$2,893,283
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SECTION 8 RENTAL SUBSI
Revenue
$827,085
RENTAL INCOME
Revenue
$193,731
LAUNDRY & VENDING INCO
Revenue
$1,200
Organization Details
Founding Year
1996
Phone
(212) 721-6032Principal Officer
Paul R Freitag
Main Address
2345 BROADWAY 2ND FLOOR, NEW YORK, NY, 10024
Website
www.wsfssh.orgNTEE Category
Code: L210 - Housing
If you are a representative of K&L Housing Development Fund Company Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.