Overview
What is Varick-Peterson Housing Development Fund Company Inc?
Varick-Peterson Housing Development Fund Company Inc, located in Newburgh, New York, is a nonprofit organization dedicated to providing low-income housing. Operating under Section 215 of the National Housing Act, they manage a residential apartment complex consisting of 122 units, regulated by the U.S. Department of Housing & Urban Development. Their mission is to ensure affordable living spaces for those in need, contributing positively to the community.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 82%, Three-Star out of Four Star rating.
Varick-Peterson Housing Development Fund Company Inc has received an 82% rating from Charity Navigator, reflecting a solid level of accountability and financial health. The score is derived from a comprehensive evaluation of its financial practices, indicating that the organization is well-managed and transparent in its operations.
The organization boasts a fully independent board, which enhances its governance and decision-making processes. Financial metrics, such as a low liabilities to assets ratio of 8.30% and a high program expense ratio of 76.70%, demonstrate its commitment to utilizing resources effectively towards its mission. Additionally, it has received full marks for audit quality and the documentation of its board meeting minutes.
While the overall rating is positive, the single beacon focus on accountability and finance means that other potential areas of impact or community feedback may not be fully captured in this score. Nevertheless, the organization shows strong performance in financial management and governance.
This AI summary has been generated from information found on Charity Navigator.
Is Varick-Peterson Housing Development Fund Company Inc legitimate?
Varick-Peterson Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Varick-Peterson Housing Development Fund Company Inc 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
What is the mission statement of Varick-Peterson Housing Development Fund Company Inc?
The Varick-Peterson Housing Development Fund Company Inc, as an entity, is dedicated to providing low-income housing. Under the National Housing Act, the company operates a residential apartment complex, consisting of 122 units. Regulated by the U.S. Department of Housing & Urban Development, the company's primary objective is to offer housing solutions to individuals who fall under the income bracket specified by the Act. By doing so, the company contributes to the broader goal of providing affordable housing options, thereby supporting the community's overall housing needs.
Who is the CEO of Varick-Peterson Housing Development Fund Company Inc?
Ebony Peterson Anderson is the Principal Officer of Varick-Peterson Housing Development Fund Company Inc.
What is the revenue of Varick-Peterson Housing Development Fund Company Inc?
Varick-Peterson Housing Development Fund Company Inc's revenue in 2023 was $1,980,755.
Who are the executives of Varick-Peterson Housing Development Fund Company Inc and what are their salaries?
There 4 volunteers at Varick-Peterson Housing Development Fund Company Inc.
Here are 4 key members and their salaries:
- 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 Varick-Peterson Housing Development Fund Company Inc?
Varick-Peterson Housing Development Fund Company Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Varick-Peterson Housing Development Fund Company Inc
Varick-Peterson Housing Development Fund Company Inc, as a nonprofit organization, is dedicated to providing low-income housing. Specifically, they manage a residential apartment complex consisting of 122 units, operating under Section 215 of the National Housing Act. This act is regulated by the U.S. Department of Housing and Urban Development, ensuring compliance with standards for affordable housing. The entity's mission is to provide a secure living space for individuals who fall within the income bracket requiring such assistance. By managing this apartment complex, Varick-Peterson Housing Development Fund Company Inc contributes to the broader goal of making affordable housing accessible to those who need it, thereby fostering a more inclusive and equitable community.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Varick-Peterson Housing Development Fund Company Inc plays a significant role in addressing housing needs in Newburgh, New York, by providing low-income housing through its operation of a residential apartment complex with 122 rental units. By adhering to the regulations set forth under Section 215 of the National Housing Act and being monitored by the U.S. Department of Housing and Urban Development, the organization ensures that these housing units are affordable and accessible to those in need.
This initiative not only helps alleviate the housing crisis for low-income families but also contributes to the stability of the community by fostering diverse and inclusive neighborhoods. The availability of affordable housing is crucial for supporting economic mobility, enhancing quality of life, and promoting social equity within the region. Overall, Varick-Peterson significantly impacts the local community by providing secure housing options and facilitating the well-being of its residents.
This information is meant to be a general summary of Varick-Peterson Housing Development Fund Company Inc. 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 2023.
- Investment Income: $24,001
- Program Service Revenue: $847,183
- Gross Receipts: $1,980,755
Assets and Liabilities:
- Total Assets: $4,813,689
- Total Liabilities: $399,713
- Net Assets: $4,413,976
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$847,183
Organization Details
Founding Year
1968
Phone
(845) 368-2400Principal Officer
Ebony Peterson Anderson
Main Address
121-A VARICK HOMES, NEWBURGH, NY, 12550
NTEE Category
Code: L21 - Housing
If you are a representative of Varick-Peterson Housing Development Fund Company Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.