Overview
What is 1114 Morris Avenue Hdfc Corp?
1114 Morris Avenue Hdfc Corp is a nonprofit organization primarily focused on providing low to moderate income housing opportunities within the community. They derive their revenue primarily from rental income from these dwellings. The organization covers essential operational expenses, including administrative fees, utilities, repairs and maintenance, taxes, and insurance, ensuring the proper functioning of the premises while adhering to regulations. Their mission is to offer a home for families with moderate income, contributing positively to the local community.
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)
1114 Morris Avenue HDFC Corp has received a Three-Star rating from Charity Navigator, with an overall score of 81%. This rating is based solely on the Accountability & Finance beacon, indicating a strong emphasis on these aspects of the organization. The score reflects the organization's commitment to financial integrity and transparency, demonstrated through their financial statements and oversight practices.
The nonprofit showcases several strengths in its accountability measures, including a fully audited financial statement and the absence of any material diversions of assets. The organization has established policies for conflicts of interest, whistleblower protection, and document retention, all of which contribute positively to governance. However, the organization falls short in board independence, with only 33% of board members being independent, which may affect its decision-making processes.
Despite the noted limitations in board independence, 1114 Morris Avenue HDFC Corp maintains a healthy financial profile, with a program expense ratio of 73.04%, indicating a significant portion of its resources is directed towards its programs. The organization’s fiscal responsibility is further evidenced by its low liabilities to assets ratio of 13.62%. Overall, the nonprofit shows a solid performance in accountability and finance but could improve in governance practices to enhance its effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is 1114 Morris Avenue Hdfc Corp legitimate?
1114 Morris Avenue Hdfc Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. 1114 Morris Avenue Hdfc Corp 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
For more financial information, click here
Official website here: www.belmontarthurldc.com
What is the mission statement of 1114 Morris Avenue Hdfc Corp?
The mission of the organization, identified as 1114 Morris Avenue Hdfc Corp, is centered around providing housing opportunities for individuals with moderate to low incomes. This mission is fulfilled by offering rental properties to families within this income bracket. Revenues for the organization are primarily derived from these rentals. The associated expenses cover necessary expenses such as administrative fees, utilities, repairs and maintenance, taxes, and insurance, all necessary components to efficiently operate the premises and adhere to regulations. The organization's primary focus is on serving the housing needs of individuals within the specified income range.
Official website here: www.belmontarthurldc.com
Who is the CEO of 1114 Morris Avenue Hdfc Corp?
Consolato Cicciu is the President of 1114 Morris Avenue Hdfc Corp.
Official website here: www.belmontarthurldc.com
What is the revenue of 1114 Morris Avenue Hdfc Corp?
1114 Morris Avenue Hdfc Corp's revenue in 2022 was $704,914.
Official website here: www.belmontarthurldc.com
Who are the executives of 1114 Morris Avenue Hdfc Corp and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.belmontarthurldc.com
Where can I find the form 990 for 1114 Morris Avenue Hdfc Corp?
1114 Morris Avenue Hdfc Corp'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 1114 Morris Avenue Hdfc Corp
1114 Morris Avenue HDFC Corp is dedicated to providing affordable housing opportunities for low-income and moderate-income families within the community. The organization's primary mission revolves around generating revenue through subsidized rentals occupied by these families. The associated expenses cover administrative fees, utilities, repairs and maintenance, as well as taxes and insurance, ensuring the efficient operation of the premises in compliance with regulations. By offering affordable housing, 1114 Morris Avenue HDFC Corp plays a crucial role in contributing to the community, providing a stable living environment for families who may not have had such an opportunity otherwise.
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
July, 2024
1114 Morris Avenue Hdfc Corp's impact is focused on providing essential low to moderate-income housing opportunities for the community in Bronx, NY. By offering subsidized rentals to families in need, this organization plays a crucial role in addressing housing challenges and promoting affordability in the area. Through its rental income and careful management of expenses, 1114 Morris Avenue Hdfc Corp ensures the efficient operation of its properties while staying compliant with regulations. Overall, the organization's efforts contribute to enhancing access to safe and affordable housing for individuals and families with limited financial resources.
This information is meant to be a general summary of 1114 Morris Avenue Hdfc Corp. 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: $348
- Program Service Revenue: $704,566
- Gross Receipts: $704,914
Assets and Liabilities:
- Total Assets: $1,829,508
- Total Liabilities: $249,307
- Net Assets: $1,580,201
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.
GROSS POTENTIAL RENT
Revenue
$691,240
OTHER RENTAL INCOME
Revenue
$18,857
SUPER RENT FREE UNIT
Revenue
$10,201
VACANCIES
Revenue
-$15,732
Organization Details
Founding Year
1999
Principal Officer
Consolato Cicciu
Main Address
660 EAST 183RD STREET, BRONX, NY, 10458
Website
www.belmontarthurldc.comNTEE Category
Code: L20 - Housing
If you are a representative of 1114 Morris Avenue Hdfc Corp 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.