Overview
What is Weeks Avenue Hdfc Corp?
Weeks Avenue Hdfc Corp is a nonprofit organization situated in Bronx, New York (NY 10458). Its primary mission is to offer affordable housing opportunities to low-income and moderate-income families in the community. The organization generates revenue mainly through rental income derived from these families residing in the property. The associated expenses include administrative fees, utilities, maintenance, repairs, taxes, and insurance—all essential components to efficiently manage the premises and adhere to 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
Weeks Avenue Hdfc Corp has earned a solid Three-Star rating from Charity Navigator, reflecting its commitment to accountability and finance management. The charity's score of 81% is exclusively based on its Accountability & Finance metrics, suggesting a strong adherence to financial transparency and responsible stewardship of resources in its most recent fiscal year, FY2022.
The organization demonstrates several strengths, such as perfect scores in financial statements oversight, conflict of interest policy, and document retention practices. Its impressive program expense ratio of 72.81% indicates that a significant portion of its budget is directed towards its programs rather than administrative costs, highlighting its focus on impactful service delivery.
While the rating is commendable, the evaluation is limited to a single beacon score, which may not provide a comprehensive view of the organization's overall effectiveness or program outcomes. Prospective donors and stakeholders may consider looking for additional information about the charity's programs and impact to gain a fuller understanding of its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Weeks Avenue Hdfc Corp legitimate?
Weeks Avenue Hdfc Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Weeks 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 Weeks Avenue Hdfc Corp?
Weeks Avenue HdfC Corp is committed to providing housing opportunities for individuals and families with low to moderate income. Their mission is to make these housing options widely available within the community. The organization generates revenue primarily through subsidized rentals occupied by these income groups. The associated expenses include administrative fees, utilities, maintenance, repairs, taxes, and insurance, all necessary to efficiently operate the premises and comply with regulations. In essence, Weeks Avenue HdfC Corp is dedicated to offering affordable housing solutions and managing them efficiently.
Official website here: www.belmontarthurldc.com
Who is the CEO of Weeks Avenue Hdfc Corp?
Consolato Cicciu is the President of Weeks Avenue Hdfc Corp.
Official website here: www.belmontarthurldc.com
What is the revenue of Weeks Avenue Hdfc Corp?
Weeks Avenue Hdfc Corp's revenue in 2022 was $790,420.
Official website here: www.belmontarthurldc.com
Who are the executives of Weeks 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 Weeks Avenue Hdfc Corp?
Weeks 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 Weeks Avenue Hdfc Corp
Weeks Avenue HDFC Corp, as a nonprofit organization, is dedicated to providing affordable housing opportunities for individuals and families with low to moderate incomes. Their primary mission is to create a community where such individuals can reside, contributing to the overall well-being and stability of the area. The organization generates revenue through rental income derived from families who fall under the specified income bracket, occupying the properties under subsidized rental agreements. The associated expenses cover various necessary components, including administrative fees, utilities, repairs and maintenance, taxes, and insurance. These expenses ensure the efficient operation of the premises, adhering to regulations while maintaining a comfortable living environment for the residents.
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Impact
October, 2024
Weeks Avenue Hdfc Corp plays a crucial role in the Bronx, New York, by providing affordable housing opportunities for low to moderate-income families. The organization generates revenue through subsidized rentals, which ensures that families have access to safe and stable housing despite economic challenges. This commitment to affordable housing not only enhances the quality of life for residents but also contributes to community stability.
By addressing housing needs, Weeks Avenue Hdfc Corp helps alleviate the burden of housing costs for low-income families, enabling them to allocate resources toward other essential areas such as education, healthcare, and community involvement. The organization’s efficient management of expenses, including administrative fees, utilities, repairs, and maintenance, ensures that the properties remain compliant with regulations and continue to serve the community's needs effectively.
Overall, Weeks Avenue Hdfc Corp's impact extends beyond mere housing; it fosters a sense of community, promotes social equity, and supports the long-term well-being of residents in the Bronx.
This information is meant to be a general summary of Weeks 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: $161
- Program Service Revenue: $790,259
- Gross Receipts: $790,420
Assets and Liabilities:
- Total Assets: $2,094,207
- Total Liabilities: $575,575
- Net Assets: $1,518,632
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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
$786,062
SUPER RENT FREE UNIT
Revenue
$26,127
OTHER RENTAL INCOME
Revenue
$1,012
VACANCIES
Revenue
-$22,942
Organization Details
Founding Year
1998
Principal Officer
Consolato Cicciu
Main Address
660 EAST 183RD STREET, BRONX, NY, 10458
Website
www.belmontarthurldc.comNTEE Category
Code: L21 - Housing
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