Overview
What is Breaking Ground Iv Housing Development Fund Corporation?
Breaking Ground Iv Housing Development Fund Corporation is a dedicated nonprofit organization based in New York. Their primary objective is to empower individuals, families, and communities by constructing and maintaining high-quality supportive and affordable housing for homeless and vulnerable residents. To achieve this mission, they operate projects like the Andrews Housing Project, which provides shelter and assistance to homeless adults with low income. Their work extends beyond housing, as they also offer programs tailored to the unique needs of these communities.
Official website here: www.breakingground.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: Needs Improvement
Breaking Ground IV Housing Development Fund Corporation has received a two-star rating from Charity Navigator, indicating a need for improvement in several areas of its operations. With an overall score of 66%, the organization shows strengths in financial oversight and accountability, particularly with its audit and oversight practices, and conflict of interest policies. However, the absence of majority independent board members and a lack of transparency regarding the tax form on its website raises concerns about governance.
The nonprofit excels in program expenses, allocating 100% of its resources to its mission-driven activities. This is a positive indicator of its commitment to serving the community. However, the liabilities to assets ratio being rated poorly suggests potential financial vulnerabilities that could impact its sustainability and effectiveness in the long term.
Overall, while Breaking Ground IV demonstrates strong programmatic focus and adheres to certain accountability measures, the noted limitations in board independence and financial transparency will need to be addressed to enhance trust and operational integrity. Continued efforts towards improving governance practices could help elevate its rating and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Breaking Ground Iv Housing Development Fund Corporation legitimate?
Breaking Ground Iv Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Breaking Ground Iv 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: $2,094,284
For more financial information, click here
Official website here: www.breakingground.org
What is the mission statement of Breaking Ground Iv Housing Development Fund Corporation?
Breaking Ground IV Housing Development Fund Corporation's mission is centered around enhancing individuals, families, and communities by providing exceptional supportive and affordable housing along with programs for homeless and other vulnerable populations in New York. Their primary goal is to empower these individuals and families, working tirelessly to strengthen their living situations and improve their overall well-being. Specifically, they focus on operating the Andrews Housing Project, which is designed to benefit homeless and low-income adults.
Official website here: www.breakingground.org
Who is the CEO of Breaking Ground Iv Housing Development Fund Corporation?
Brenda Rosen is the Principal Officer of Breaking Ground Iv Housing Development Fund Corporation. The CEO's salary of Breaking Ground Iv Housing Development Fund Corporation is $0 and their total compensation is $600,372.
Official website here: www.breakingground.org
What is the revenue of Breaking Ground Iv Housing Development Fund Corporation?
Breaking Ground Iv Housing Development Fund Corporation's revenue in 2022 was $5,156,679.
Official website here: www.breakingground.org
Who are the executives of Breaking Ground Iv Housing Development Fund Corporation and what are their salaries?
Here are 6 key members and their salaries (Breaking Ground Iv Housing Development Fund Corporation's CEO's salary is $0 and their total compensation is $600,372):
- Compensation: $0
- Related: $587,598
- Other: $12,774
- Compensation: $0
- Related: $306,168
- Other: $43,943
- Compensation: $0
- Related: $256,279
- Other: $19,123
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $338,301
- Other: $43,787
Official website here: www.breakingground.org
Where can I find the form 990 for Breaking Ground Iv Housing Development Fund Corporation?
Breaking Ground Iv Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.breakingground.org
Learn more at the official website: www.breakingground.org
Mission Statement of Breaking Ground Iv Housing Development Fund Corporation
Breaking Ground IV Housing Development Fund Corporation is committed to enhancing the lives of individuals and families, as well as entire communities, by creating and maintaining top-notch supportive and affordable housing options. This nonprofit organization aims to cater to the needs of homeless individuals and other vulnerable New Yorkers. In essence, Breaking Ground IV's mission is to empower and strengthen these groups, offering them a pathway towards a more stable and secure living situation.
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Impact
October, 2024
Breaking Ground IV Housing Development Fund Corporation significantly impacts the lives of homeless and low-income adults through the operation of the Andrews Housing Project. By providing exceptional supportive and affordable housing, it addresses one of the most pressing needs in New York City—safe and stable living environments for vulnerable populations.
The organization focuses on developing and sustaining housing solutions that foster community strength and individual resilience. By offering not just housing but also essential programs tailored to the needs of its residents, it helps people transition out of homelessness and equips them with the tools necessary for long-term stability. This holistic approach enables individuals and families to rebuild their lives, ultimately contributing to a more robust and cohesive community.
The work of Breaking Ground IV not only addresses immediate housing concerns but also plays a pivotal role in the broader social framework by advocating for those often left behind. Through its mission, it enhances the quality of life for many New Yorkers, paving the way for greater opportunities and fostering a sense of belonging among residents.
This information is meant to be a general summary of Breaking Ground Iv 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: $5,156,624
- Gross Receipts: $5,156,679
Assets and Liabilities:
- Total Assets: $13,051,730
- Total Liabilities: $21,049,072
- Net Assets: -$7,997,342
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW-INCOME HOUSING RENTAL INCOME
Revenue
$5,070,561
TENANT HOUSING (GOV'T CONTRACTS)
Revenue
$86,063
Organization Details
Founding Year
2001
Phone
(212) 389-9300Principal Officer
Brenda Rosen
Main Address
505 EIGHTH AVENUE 5TH FLOOR, NEW YORK, NY, 10018
Website
www.breakingground.orgNTEE Category
Code: L41 - Housing
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