Overview
What is 1330 Morris Avenue Hdfc Corp?
1330 Morris Avenue Hdfc Corp is a nonprofit organization situated in the Bronx, New York, specifically at 660 East 183rd Street. Their primary objective is to offer affordable housing opportunities for the community, catering to families with low to moderate income. Their revenue primarily comes from the rental income generated from these housing units. The associated expenses cover administrative fees, utilities, maintenance, repairs, taxes, and insurance – all essential components to efficiently operate the premises and comply with 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)
1330 Morris Avenue HDFC Corp has received an 81% rating from Charity Navigator, which translates to a Three-Star rating. This score reflects a strong emphasis on accountability and finance, indicating that the organization manages its finances effectively and adheres to necessary governance practices. The rating is solely based on the Accountability & Finance beacon, showcasing the organization's commitment to transparent financial reporting.
The organization scored exceptionally well across several key metrics, achieving a perfect score in areas such as financial oversight and conflict of interest policies. The liabilities to assets ratio stands at a healthy 8.80%, and the program expense ratio is commendable at 73.26%, illustrating the organization’s focus on allocating resources toward its programs rather than administrative costs.
While the overall score is solid, it's important to note that this rating is derived from a single beacon score, which may limit a more comprehensive evaluation of the organization’s impact and effectiveness in fulfilling its mission. Nonetheless, the strong governance and financial practices reflected in the score suggest that 1330 Morris Avenue HDFC Corp is a reliable nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is 1330 Morris Avenue Hdfc Corp legitimate?
1330 Morris Avenue Hdfc Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. 1330 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
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Official website here: www.belmontarthurldc.com
What is the mission statement of 1330 Morris Avenue Hdfc Corp?
The mission of the organization at 1330 Morris Avenue, referred to as Hdfc Corp, is centered around providing housing opportunities for individuals with lower to moderate income levels within the community. This mission is accomplished through the operation of subsidized rental properties, which serve as the primary source of revenue for the organization. The associated expenses cover administrative fees, utilities, repairs and maintenance, as well as taxes and insurance, ensuring the efficient operation of the premises and adherence to regulations.
Official website here: www.belmontarthurldc.com
Who is the CEO of 1330 Morris Avenue Hdfc Corp?
Consolato Cicciu is the President of 1330 Morris Avenue Hdfc Corp.
Official website here: www.belmontarthurldc.com
What is the revenue of 1330 Morris Avenue Hdfc Corp?
1330 Morris Avenue Hdfc Corp's revenue in 2022 was $664,317.
Official website here: www.belmontarthurldc.com
Who are the executives of 1330 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 1330 Morris Avenue Hdfc Corp?
1330 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 1330 Morris Avenue Hdfc Corp
1330 Morris Avenue HDFC Corp is dedicated to providing affordable housing opportunities for individuals and families in the lower to moderate income brackets. The organization's primary objective is to offer a suitable living space within their community, generating revenue primarily through subsidized rentals occupied by these families. The associated expenses encompass administrative fees, utility costs, repairs and maintenance, as well as tax and insurance expenses, all necessary components to efficiently operate the premises and adhere to regulations. In essence, 1330 Morris Avenue HDFC Corp is committed to making housing accessible and affordable for a significant portion of the population, thereby contributing to the well-being and stability of the community.
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Impact
July, 2024
1330 Morris Avenue Hdfc Corp's impact lies in providing low to moderate-income housing opportunities for the community in the Bronx, NY. Through their rental properties, they offer affordable housing options for families in need. Their focus on generating revenue from subsidized rentals helps support their mission of ensuring housing affordability for those who may struggle with high housing costs. This organization plays a vital role in addressing the housing needs of the community and contributes to creating a more inclusive and sustainable living environment for low to moderate-income families.
This information is meant to be a general summary of 1330 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: $86
- Program Service Revenue: $664,231
- Gross Receipts: $664,317
Assets and Liabilities:
- Total Assets: $1,376,793
- Total Liabilities: $121,256
- Net Assets: $1,255,537
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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
$669,967
OTHER RENTAL INCOME
Revenue
$5,590
VACANCIES
Revenue
-$11,326
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
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