Overview
What is Northern Housing Development Fund Co Inc?
The Northern Housing Development Fund Co Inc is a nonprofit organization that prioritizes housing needs for low-income elderly individuals. Situated within its community, this organization provides 24 one-bedroom apartments as a solution to accommodate this specific demographic. Its mission revolves around offering a secure living environment, contributing to the overall welfare and comfort of its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star rating)
Northern Housing Development Fund Co Inc has received a solid Three-Star rating from Charity Navigator, reflecting its strong accountability and financial health. The organization's score is primarily derived from its performance in Accountability & Finance, where it showcases a high level of transparency and governance, evidenced by a fully independent board and a robust conflict of interest policy.
Strengths of the organization include a 100% independent board, which demonstrates a commitment to effective oversight, and a favorable program expense ratio of 85.02%, indicating that a significant portion of its funds is directed toward its programs. The lack of any material asset diversion and a low liabilities-to-assets ratio further highlight its financial stability and responsible management.
While the organization has performed well in several key areas, the rating is limited to a single beacon score without additional metrics to provide a more comprehensive view of its impact or effectiveness in achieving its mission. Overall, Northern Housing Development Fund Co Inc appears to be a responsible steward of donor funds, making it a commendable choice for potential supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Northern Housing Development Fund Co Inc legitimate?
Northern Housing Development Fund Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northern Housing Development Fund Co 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: $40,762
Professional Fundraising Fees: $0
Other Salaries and Wages: $16,714
For more financial information, click here
What is the mission statement of Northern Housing Development Fund Co Inc?
The Northern Housing Development Fund Company's mission revolves around providing housing solutions for low-income elderly individuals. They accomplish this by offering one-bedroom apartments to 24 tenants, thereby addressing the housing needs of this specific demographic. The organization's primary activity is dedicated to this housing sector, promoting independence and comfort for its elderly residents.
Who is the CEO of Northern Housing Development Fund Co Inc?
Gregory Martin is the President of Northern Housing Development Fund Co Inc.
What is the revenue of Northern Housing Development Fund Co Inc?
Northern Housing Development Fund Co Inc's revenue in 2022 was $200,642.
Who are the executives of Northern Housing Development Fund Co Inc and what are their salaries?
The average compensation at Northern Housing Development Fund Co Inc during 2022 was $19,159. There are 3 employees at Northern Housing Development Fund Co Inc.
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Where can I find the form 990 for Northern Housing Development Fund Co Inc?
Northern Housing Development Fund Co Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Northern Housing Development Fund Co Inc
The Northern Housing Development Fund is committed to providing housing solutions for low-income elderly individuals. In line with its mission, the organization offers one-bedroom apartments to 24 tenants, serving as a sanctuary for this vulnerable population. By offering affordable housing options, the Northern Housing Development Fund aims to improve the living standards and overall well-being of its elderly residents.
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Impact
October, 2024
Northern Housing Development Fund Co Inc addresses the critical need for affordable housing by providing one-bedroom apartments specifically for low-income elderly individuals. Located in Champlain, NY, the organization serves 24 tenants, helping to ensure that this vulnerable population has access to safe and suitable living conditions. By focusing on this demographic, the Fund alleviates housing insecurity among elderly residents, promoting stability and enhancing their quality of life. The initiative not only meets immediate housing needs but also fosters community engagement and support among tenants, contributing to a more inclusive and caring community environment.
This information is meant to be a general summary of Northern Housing Development Fund Co 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 2022.
- Investment Income: $396
- Program Service Revenue: $200,246
- Gross Receipts: $200,642
Assets and Liabilities:
- Total Assets: $831,434
- Total Liabilities: $10,608
- Net Assets: $820,826
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Fees & Contracts Gov Agencies
Revenue
$90,756
MISCELLANEOUS INCOME
Revenue
$4,422
RENTAL INCOME - TENANTS
Revenue
$105,068
Organization Details
Founding Year
1978
Phone
(518) 298-3733Principal Officer
Gregory Martin
Main Address
1 NORTHERN TIERWAY PO BOX 597, CHAMPLAIN, NY, 12919
NTEE Category
Code: L220 - Housing
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