Overview
What is Casita Park Housing Development Fund Company Inc?
Casita Park Housing Development Fund Company Inc is a nonprofit organization situated in New York City, specifically at 421 EAST 116TH STREET, NY 10029. Their primary mission is to provide senior citizens with clean, affordable, and safe housing. To accomplish this, they collaborate with the U.S. Department of Housing and Urban Development (HUD) by obtaining Section 8 subsidies, which help reduce the rent burden on eligible seniors. This initiative aims to ensure that senior citizens in the local community have access to suitable and reasonably priced housing.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 75%, Three-Star out of Four Star rating.
Casita Park Housing Development Fund Company Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The organization scored particularly well in areas such as board independence and financial oversight, showcasing a commitment to transparency and responsible governance practices. Their program expense ratio of 92.38% reflects an effective allocation of funds towards their mission.
Strengths of the organization include having a fully independent board, comprehensive financial oversight, and robust policies on conflict of interest and whistleblower protections. These factors contribute positively to their accountability score, which is crucial for maintaining donor trust and ensuring effective management of resources.
However, the organization faces challenges, as highlighted by a notably high liabilities to assets ratio of 291.27%. This metric suggests potential financial risks that could impact operational stability. While their accountability measures are commendable, addressing financial leverage will be essential for improving long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Casita Park Housing Development Fund Company Inc legitimate?
Casita Park Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Casita Park 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.
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What is the mission statement of Casita Park Housing Development Fund Company Inc?
Casita Park Housing Development Fund Company Inc's mission is centered around providing senior citizens with a living environment that is both clean and affordable. This mission is carried out by renting apartments to these senior citizens, with their rents subsidized through Section 8 from HUD. The primary goal is to ensure that senior citizens have access to safe housing within their local community.
Who is the CEO of Casita Park Housing Development Fund Company Inc?
Christopher Cirillo is the Chairman of Casita Park Housing Development Fund Company Inc.
What is the revenue of Casita Park Housing Development Fund Company Inc?
Casita Park Housing Development Fund Company Inc's revenue in 2022 was $1,101,353.
Who are the executives of Casita Park Housing Development Fund Company Inc and what are their salaries?
There 10 volunteers at Casita Park Housing Development Fund Company Inc.
Here are 11 key members and their salaries:
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- Related: $195,000
- Other: $39,641
Where can I find the form 990 for Casita Park Housing Development Fund Company Inc?
Casita Park Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Casita Park Housing Development Fund Company Inc
Casita Park Housing Development Fund Company Inc is committed to providing a vital service within its mission. This nonprofit organization aims to offer senior citizens in the community clean, affordable, and safe housing options. The corporation achieves this by renting out apartments to elderly individuals, with the rents for these residences being subsidized by the Department of Housing and Urban Development's Section 8 program. By providing such housing, Casita Park Housing Development Fund Company Inc contributes to the well-being and security of senior citizens in the community, ensuring they can live comfortably and with peace of mind.
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Impact
October, 2024
Casita Park Housing Development Fund Company Inc effectively addresses the critical need for clean, affordable, and safe housing for senior citizens in New York City. By renting apartments specifically designed for this vulnerable population, the organization plays a crucial role in enhancing the quality of life for seniors. The rents for these apartments are subsidized through Section 8 funding from HUD, making it financially feasible for many elderly individuals who might otherwise struggle to secure adequate housing. This initiative not only supports the well-being of senior residents but also contributes positively to the overall community by promoting inclusivity and accessibility in housing. Through its operations, Casita Park fosters a safe and supportive environment for seniors, ensuring they have a place they can call home.
This information is meant to be a general summary of Casita Park 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: $1,261
- Program Service Revenue: $1,099,942
- Gross Receipts: $1,101,353
Assets and Liabilities:
- Total Assets: $3,782,845
- Total Liabilities: $11,018,667
- Net Assets: -$7,235,822
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,099,942
Organization Details
Founding Year
1999
Phone
(212) 410-3153Principal Officer
Christopher Cirillo
Main Address
421 EAST 116TH STREET, NEW YORK, NY, 10029
NTEE Category
Code: L21 - Housing
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