Overview
What is Schaffer Heights Housing Corp?
Schaffer Heights Housing Corp is a nonprofit organization situated in Schwenctady, New York, specifically at 101 Nott Terrace. Their primary focus is to provide housing for senior citizens residing in the city and its surrounding areas. They operate a ten-story complex, comprising seven floors for residential living and three floors of commercial space, offering ancillary services to the complex's residents. The organization's mission is to cater to the housing needs of elderly individuals in the community, ensuring they have a comfortable living environment.
Official website here: www.schafferheights.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars)
Schaffer Heights Housing Corp has received a two-star rating from Charity Navigator, indicating a need for improvement in its operations and governance. The organization achieved an overall score of 69%, reflecting a solid performance in areas such as independent board membership and financial oversight. Specifically, it boasts a fully independent board and has successfully implemented an audit committee, signaling a commitment to financial accountability.
Despite these strengths, the organization faces significant challenges. Notably, it lacks essential policies such as a conflict of interest policy and a whistleblower policy, which may undermine its governance framework. Additionally, its liabilities significantly exceed its assets, with a ratio of 159.38%, raising concerns about financial stability. Although the program expense ratio is commendable at 73.44%, the missing documents and policies highlight areas where the organization can enhance its transparency and accountability.
Overall, while Schaffer Heights Housing Corp demonstrates some positive attributes in governance and program spending, the gaps in key policies and financial health present critical areas for improvement. Stakeholders may want to monitor these issues closely to ensure the organization can effectively fulfill its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Schaffer Heights Housing Corp legitimate?
Schaffer Heights Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Schaffer Heights Housing 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: $254,061
For more financial information, click here
Official website here: www.schafferheights.com
What is the mission statement of Schaffer Heights Housing Corp?
Schaffer Heights Housing Corp's mission is centered around providing housing for senior citizens residing in an unspecified locale. This organization strives to fulfill this mission by operating an apartment complex specifically designed for individuals aged 50 and above. The complex, composed of ten stories with seven residential floors and three floors for commercial space, aims to offer ancillary services to its senior residents. In essence, Schaffer Heights Housing Corp is committed to enhancing the living conditions and providing essential services for senior citizens within its community.
Official website here: www.schafferheights.com
Who is the CEO of Schaffer Heights Housing Corp?
Brian Forget is the Director of Schaffer Heights Housing Corp.
Official website here: www.schafferheights.com
What is the revenue of Schaffer Heights Housing Corp?
Schaffer Heights Housing Corp's revenue in 2022 was $2,024,049.
Official website here: www.schafferheights.com
Who are the executives of Schaffer Heights Housing Corp and what are their salaries?
There 6 volunteers at Schaffer Heights Housing Corp.
Here are 6 key members and their salaries:
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- Other: $0
Official website here: www.schafferheights.com
Where can I find the form 990 for Schaffer Heights Housing Corp?
Schaffer Heights Housing Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.schafferheights.com
Learn more at the official website: www.schafferheights.com
Mission Statement of Schaffer Heights Housing Corp
Schaffer Heights Housing Corp, as a nonprofit organization, is dedicated to a noble mission. Its primary objective is to provide housing for seniors residing in various parts of the city and its surrounding areas. This mission is not just about offering a place to live, but it extends to creating an inclusive and supportive community. The organization operates an apartment complex, featuring residential living spaces spread over seven floors and commercial areas on three floors. This strategic layout allows for the provision of ancillary services directly to the residents, enhancing their quality of life. By focusing on the housing needs of seniors, Schaffer Heights Housing Corp is contributing significantly to their well-being and independence, thereby enriching their golden years.
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Impact
October, 2024
Schaffer Heights Housing Corp significantly impacts the community by providing essential housing for seniors aged 50 and over in Schenectady and the surrounding area. The ten-story apartment complex not only offers seven floors dedicated to residential living but also includes three floors of commercial space. This design facilitates access to ancillary services that enhance residents' quality of life, ensuring that seniors have the support and resources they need within close proximity. By creating a vibrant living environment tailored to the needs of older adults, Schaffer Heights plays a crucial role in fostering community, independence, and stability among its residents.
This information is meant to be a general summary of Schaffer Heights Housing 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: $37
- Program Service Revenue: $1,960,112
- Gross Receipts: $2,024,049
Assets and Liabilities:
- Total Assets: $6,976,549
- Total Liabilities: $11,119,812
- Net Assets: -$4,143,263
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE - RESIDEN
Revenue
$1,453,364
RENT REVENUE - COMMERC
Revenue
$462,044
TENANT CHARGES
Revenue
$17,681
RENT REVENUE - MISCELL
Revenue
$16,048
RENT REVENUE - GARAGE/
Revenue
$10,975
Organization Details
Founding Year
1995
Phone
(518) 346-3438Principal Officer
Brian Forget
Main Address
101 NOTT TERRACE, SCHENECTADY, NY, 12308
Website
www.schafferheights.comNTEE Category
Code: L220 - Housing
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