Overview
What is 607 Concord Avenue Housing Development Fund Corporation?
The 607 Concord Avenue Housing Development Fund Corporation is a nonprofit organization situated in the Bronx, New York, specifically at 920 Prospect Avenue. Their primary mission is to provide affordable housing for low-income individuals with disabilities. They achieve this by managing residential properties and offering monthly subsidies, funded by the U.S. Department of Housing and Urban Development, through a program known as Section 8. This supportive housing initiative aims to improve the quality of life for disabled individuals by providing them with a safe and comfortable living environment.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 79% (Three-Star out of Four Stars)
The 607 Concord Avenue Housing Development Fund Corporation has received a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. With a score of 79%, the organization demonstrates effective governance practices, including a fully independent board and comprehensive financial oversight. Their commitment to transparency is evident through their well-documented policies, such as conflict of interest and whistleblower protections, which are all listed and up to date.
A notable strength of the organization is its high program expense ratio of 92.40%, indicating that a significant portion of its funds is directed towards its programs rather than administrative costs. This suggests that the charity is effectively utilizing its resources to fulfill its mission and serve its community. The organization has also shown no material diversion of assets, further reflecting its financial integrity.
While the overall rating is commendable, the organization could benefit from maintaining or improving its score in the accountability and finance category to increase donor confidence. Continuous monitoring and enhancement of financial practices are essential for ensuring long-term sustainability and effectiveness in its charitable activities.
This AI summary has been generated from information found on Charity Navigator.
Is 607 Concord Avenue Housing Development Fund Corporation legitimate?
607 Concord Avenue Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 607 Concord Avenue Housing Development Fund Corporation 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: $111,631
For more financial information, click here
What is the mission statement of 607 Concord Avenue Housing Development Fund Corporation?
The 607 Concord Avenue Housing Development Fund Corporation's mission is centered around providing residential rental housing for individuals with low income and disabilities. They achieve this through the distribution of monthly subsidies received from the U.S. Department of Housing and Urban Development (HUD). The corporation's primary goal is to ensure the operation and maintenance of these housing units, thereby offering a stable living environment for its residents. In essence, their mission is dedicated to enhancing the quality of life for low-income disabled individuals by providing them with affordable housing.
Who is the CEO of 607 Concord Avenue Housing Development Fund Corporation?
Steve Kadin is the President of 607 Concord Avenue Housing Development Fund Corporation. The CEO's salary of 607 Concord Avenue Housing Development Fund Corporation is $0 and their total compensation is $576,831.
What is the revenue of 607 Concord Avenue Housing Development Fund Corporation?
607 Concord Avenue Housing Development Fund Corporation's revenue in 2022 was $1,101,847.
Who are the executives of 607 Concord Avenue Housing Development Fund Corporation and what are their salaries?
The average compensation at 607 Concord Avenue Housing Development Fund Corporation during 2022 was $111,631. There is 1 employee and 6 volunteers at 607 Concord Avenue Housing Development Fund Corporation.
Here are 12 key members and their salaries (607 Concord Avenue Housing Development Fund Corporation's CEO's salary is $0 and their total compensation is $576,831):
- Compensation: $0
- Related: $848,126
- Other: $68,233
- Compensation: $0
- Related: $532,238
- Other: $44,593
- Compensation: $0
- Related: $517,229
- Other: $37,746
- Compensation: $0
- Related: $404,476
- Other: $38,707
- Compensation: $0
- Related: $421,681
- Other: $15,109
- Compensation: $0
- Related: $306,593
- Other: $37,802
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for 607 Concord Avenue Housing Development Fund Corporation?
607 Concord Avenue Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 607 Concord Avenue Housing Development Fund Corporation
The 607 Concord Avenue Housing Development Fund Corporation is dedicated to providing residential rental housing for individuals with low income and disabilities. This nonprofit organization achieves its mission by securing monthly subsidies from the U.S. Department of Housing and Urban Development. By doing so, it is able to offer affordable housing options to those in need, thereby enhancing their living standards. The corporation's primary role is to operate and maintain residential properties, ensuring that the living conditions are safe and comfortable for the disabled residents.
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Impact
October, 2024
607 Concord Avenue Housing Development Fund Corporation plays a vital role in addressing the housing needs of low-income disabled individuals in the Bronx, NY. By providing residential rental housing supported by monthly subsidies from the U.S. Department of Housing and Urban Development (HUD), it ensures that vulnerable populations have access to stable and affordable living conditions. This organization not only uplifts the quality of life for its residents but also fosters a sense of community and security, essential for those facing economic and physical challenges.
Through its efforts, 607 Concord Avenue Housing Development Fund Corporation significantly impacts the local housing landscape by maintaining and operating safe, accessible homes tailored for individuals with disabilities. This dedicated approach to housing not only alleviates financial burdens for low-income disabled persons but also enhances their overall well-being, contributing to improved mental and physical health outcomes. By prioritizing this demographic, the organization helps to combat feelings of isolation and promotes independence among residents, ultimately empowering them to thrive within their community.
This information is meant to be a general summary of 607 Concord Avenue Housing Development Fund Corporation. 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.
- Program Service Revenue: $1,097,899
- Gross Receipts: $1,101,847
Assets and Liabilities:
- Total Assets: $3,512,838
- Total Liabilities: $9,578,053
- Net Assets: -$6,065,215
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL INCOME
Revenue
$1,094,499
PARKING INCOME
Revenue
$3,400
Organization Details
Founding Year
2001
Phone
(347) 649-3270Principal Officer
Steve Kadin
Main Address
920 Prospect Avenue, Bronx, NY, 10459
NTEE Category
Code: L22 - Housing
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