Overview
What is Conroy Housing Development Fund Inc?
Conroy Housing Development Fund Inc is a nonprofit organization situated in Albany, New York, specifically at 43 North Main Avenue. Their primary mission is to provide affordable housing for individuals and families who fall under the 60% income bracket of the area's median gross income, as outlined in section 42 of the Internal Revenue Code. This organization specifically focuses on housing for homeless individuals and families with a history of developmental disabilities. They lease 8 housing units located at 83-89 Third Avenue in Albany, ensuring that eligible tenants receive the necessary support and resources.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (58%)
Conroy Housing Development Fund Inc has received a 1-Star out of Four Star rating from Charity Navigator, indicating significant concerns in its financial accountability and transparency. The overall score is based solely on its Accountability & Finance score of 58%, which highlights areas of strength, such as having a fully independent board and no material diversion of assets. However, the charity has missed critical benchmarks, such as having a conflict of interest policy and a whistleblower policy in place.
Despite achieving a perfect score for program expense ratio, which shows that all expenses are directed toward its programs, the charity struggles with its liabilities to assets ratio, which is notably high at 120.81%. This indicates potential financial instability that might affect its operational effectiveness. The absence of several key policies, such as document retention and destruction, further raises concerns about governance practices.
Overall, while Conroy Housing Development Fund Inc demonstrates commitment in certain areas, the low rating reflects pressing needs for improvement in governance and financial policies to ensure long-term sustainability and accountability to its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Conroy Housing Development Fund Inc legitimate?
Conroy Housing Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Conroy Housing Development Fund 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
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What is the mission statement of Conroy Housing Development Fund Inc?
Conroy Housing Development Fund Inc's mission is centered around providing low-income housing opportunities for individuals and families who have a history of developmental disabilities, many of whom are also homeless. Their primary objective is to increase the availability of such housing units, aiming to make a significant impact on their living conditions. The organization achieves this by leasing properties, such as the one located at 83-89 Third Avenue in Albany, New York, to eligible tenants whose income does not surpass 60% of the area's median gross income, as per the guidelines set by relevant regulatory agencies and lenders.
Who is the CEO of Conroy Housing Development Fund Inc?
Sondra Young is the Secretary of Conroy Housing Development Fund Inc.
What is the revenue of Conroy Housing Development Fund Inc?
Conroy Housing Development Fund Inc's revenue in 2022 was $85,086.
Who are the executives of Conroy Housing Development Fund Inc and what are their salaries?
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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Where can I find the form 990 for Conroy Housing Development Fund Inc?
Conroy Housing Development Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Conroy Housing Development Fund Inc
Conroy Housing Development Fund Inc is an organization dedicated to a noble cause. Their mission, in simple terms, is to increase the availability of affordable housing for individuals and families who have a history of developmental disabilities and are currently homeless or at risk of homelessness. By developing and providing low-income housing units, they aim to provide a secure living environment for these vulnerable individuals, enabling them to lead more stable lives. The organization's activities are centered around leasing properties to individuals whose income does not exceed 60% of the area's median gross income, as determined by various regulatory agencies and lenders. This dedication to social welfare and affordable housing is a commendable endeavor that positively impacts the lives of those in need.
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Impact
October, 2024
Conroy Housing Development Fund Inc significantly enhances the availability of affordable housing for low-income individuals and families, especially those experiencing homelessness and facing developmental disabilities. By managing a property located at 83-89 Third Avenue in Albany, New York, the organization offers eight housing units specifically leased to individuals whose income does not exceed 60% of the area's median gross income.
This initiative directly addresses the pressing need for accessible housing options in the community, alleviating some of the challenges faced by vulnerable populations. The organization follows stringent eligibility criteria established by various lenders and regulatory agencies to ensure that assistance reaches those who need it most.
By providing stable housing, Conroy Housing Development Fund Inc not only improves the living conditions of its tenants but also contributes to their overall well-being, allowing them to focus on personal development and integration into society. The impact of this organization resonates not just in terms of housing availability but also in fostering dignity, security, and a sense of community for individuals and families who might otherwise struggle to find a place to call home.
This information is meant to be a general summary of Conroy Housing Development Fund 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: $9
- Gross Receipts: $85,086
Assets and Liabilities:
- Total Assets: $1,445,084
- Total Liabilities: $1,669,393
- Net Assets: -$224,309
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Organization Details
Founding Year
1991
Phone
(518) 459-0183Principal Officer
Sondra Young
Main Address
43 NORTH MAIN AVENUE, ALBANY, NY, 12203
NTEE Category
Code: P73Z - Human services
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