Overview
What is East Greenbush Housing Development Fund Company Inc?
East Greenbush Housing Development Fund Company Inc, situated in Albany, New York, is a dedicated nonprofit organization that prioritizes the provision of affordable housing for the elderly. With a mission centered around low-income housing, this retirement home or senior housing program offers a supportive environment for the elderly community, ensuring they have access to suitable living arrangements. The company's activities and purpose are both aligned with this mission, making it a valuable resource for the elderly population in the area.
Official website here: www.rcda.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement) - Score: 69%
The East Greenbush Housing Development Fund Company Inc has received a two-star rating from Charity Navigator, indicating that the organization needs improvement in several areas concerning accountability and financial management. While it scores well in independent board governance and program expense ratio, there are significant concerns regarding its overall financial health, specifically a liabilities to assets ratio of 153.49%, which highlights potential financial instability.
One of the organization's strengths lies in its structure, with 100% of its board members being independent, and it has a well-functioning audit and oversight committee. Additionally, the organization demonstrates a commitment to transparency by maintaining board meeting minutes and listing its website on tax forms. However, the absence of key policies such as conflict of interest, whistleblower, and document retention raises questions about its governance practices.
The financial performance of the organization is mixed. While it allocates a substantial 77.41% of its expenses toward programs, the lack of a tax form on its website and low scores in critical governance areas suggest that improvements are necessary to enhance credibility and sustainability. Overall, further steps are needed to address the missing policies and improve its financial health.
This AI summary has been generated from information found on Charity Navigator.
Is East Greenbush Housing Development Fund Company Inc legitimate?
East Greenbush Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. East Greenbush 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: $67,815
For more financial information, click here
Official website here: www.rcda.org
What is the mission statement of East Greenbush Housing Development Fund Company Inc?
The East Greenbush Housing Development Fund Company is dedicated to providing low-income housing opportunities for the elderly. Their mission is centered around offering a suitable living environment for the elderly population who may be financially constrained. This organization is committed to ensuring that elderly individuals have access to affordable housing, thereby enhancing their quality of life during their retirement years.
Official website here: www.rcda.org
Who is the CEO of East Greenbush Housing Development Fund Company Inc?
Noel Olsen is the Member of East Greenbush Housing Development Fund Company Inc.
Official website here: www.rcda.org
What is the revenue of East Greenbush Housing Development Fund Company Inc?
East Greenbush Housing Development Fund Company Inc's revenue in 2023 was $532,719.
Official website here: www.rcda.org
Who are the executives of East Greenbush Housing Development Fund Company Inc and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.rcda.org
Where can I find the form 990 for East Greenbush Housing Development Fund Company Inc?
East Greenbush Housing Development Fund Company Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.rcda.org
Learn more at the official website: www.rcda.org
Mission Statement of East Greenbush Housing Development Fund Company Inc
East Greenbush Housing Development Fund Company Inc, as a retirement home or senior housing program, is committed to providing affordable housing for the elderly. Their mission, in essence, is to cater to the housing needs of elderly individuals with limited income. This nonprofit organization is dedicated to ensuring that the elderly can live in a comfortable and secure environment, without the burden of exorbitant housing costs.
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Impact
July, 2024
East Greenbush Housing Development Fund Company Inc provides essential low-income housing for elderly individuals in Albany, NY. Through their dedicated efforts, they offer a safe and supportive living environment for seniors who may otherwise struggle to find affordable housing options. This helps to address the needs of a vulnerable population and ensures that elderly individuals have access to the housing they require to maintain their quality of life. Their impact can be seen in the improved well-being and stability of the elderly residents they serve, offering them a sense of security and community as they age.
This information is meant to be a general summary of East Greenbush 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: $1,179
- Program Service Revenue: $195,507
- Gross Receipts: $532,719
Assets and Liabilities:
- Total Assets: $1,472,748
- Total Liabilities: $2,260,632
- Net Assets: -$787,884
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT & CHARGES
Revenue
$195,507
Organization Details
Founding Year
1990
Phone
(518) 459-0183Principal Officer
Noel Olsen
Main Address
41 NORTH MAIN AVENUE, ALBANY, NY, 12203
Website
www.rcda.orgNTEE Category
Code: L22Z - Housing
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