Overview
What is Prospect Housing Development Fund Corp?
Prospect Housing Development Fund Corp is a nonprofit organization situated in Bronx, New York, primarily focused on providing affordable housing opportunities for low-income and moderate-income families. Their revenue primarily stems from the rental income generated by families residing on the property. The organization oversees the necessary expenses, including administrative fees, utilities, repairs and maintenance, taxes, and insurance, ensuring the efficient operation of the premises and adherence to regulations. Their mission is deeply rooted in serving their community by offering affordable housing solutions.
Official website here: www.belmontarthurldc.com
Is Prospect Housing Development Fund Corp legitimate?
Prospect Housing Development Fund Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Prospect Housing Development Fund 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 Prospect Housing Development Fund Corp?
Prospect Housing Development Fund Corp is dedicated to providing affordable housing options for individuals and families with low to moderate income. The organization's primary objective is to make these housing opportunities widely available within the community. Revenues for the corporation are primarily generated through subsidized rental income from these residents. The associated expenses cover various necessary components such as administrative fees, utilities, repairs and maintenance, taxes, and insurance, ensuring efficient operation of the premises and compliance with regulations.
Official website here: www.belmontarthurldc.com
Who is the CEO of Prospect Housing Development Fund Corp?
Consolato Cicciu is the President of Prospect Housing Development Fund Corp.
Official website here: www.belmontarthurldc.com
What is the revenue of Prospect Housing Development Fund Corp?
Prospect Housing Development Fund Corp's revenue in 2022 was $321,324.
Official website here: www.belmontarthurldc.com
Who are the executives of Prospect Housing Development Fund Corp and what are their salaries?
Here are 3 key members and their salaries:
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- Other: $0
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Official website here: www.belmontarthurldc.com
Where can I find the form 990 for Prospect Housing Development Fund Corp?
Prospect Housing Development Fund 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 Prospect Housing Development Fund Corp
Prospect Housing Development Fund Corp is committed to providing affordable housing opportunities for individuals and families with moderate incomes within the community. Their primary mission revolves around the operation of rental properties, generating revenue through low to moderate income family-subsidized rentals. The organization's objectives extend beyond mere property management, incorporating essential components such as administrative fees, utility expenses, repairs, maintenance, tax payments, and insurance, all while ensuring compliance with regulations. In essence, Prospect Housing Development Fund Corp aims to create a conducive living environment for its residents while maintaining financial sustainability and adhering to necessary regulations.
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Impact
October, 2024
Prospect Housing Development Fund Corp significantly enhances the community by providing essential housing opportunities for low to moderate-income families. By focusing on subsidized rental units, it ensures that affordable housing remains accessible to those who need it most. The revenue generated primarily from these rentals supports the maintenance and operation of the properties, ensuring they remain livable and well-maintained.
In the Bronx, where housing affordability can be a major concern, this organization's efforts contribute to the stability and well-being of families, allowing them to secure a roof over their heads without facing excessive financial burdens. The administrative and operational expenses are carefully managed to maintain compliance with regulations while also fostering a sense of community for residents. Overall, the organization's work not only meets a critical need for housing but also plays a vital role in promoting economic stability within the community.
This information is meant to be a general summary of Prospect Housing Development Fund 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: $798
- Program Service Revenue: $320,526
- Gross Receipts: $321,324
Assets and Liabilities:
- Total Assets: $1,186,687
- Total Liabilities: $913,920
- Net Assets: $272,767
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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
$327,174
OTHER RENTAL INCOME
VACANCIES
Revenue
-$6,648
Organization Details
Founding Year
2000
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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