Overview
What is Santa Maria Towers Housing Development Fund Company Inc?
Santa Maria Towers Housing Development Fund Company Inc is a nonprofit organization located in Buffalo, New York. Its primary mission is to provide affordable housing catering to the unique needs of elderly and handicapped individuals. This includes addressing their physical, social, and psychological requirements, ensuring a comprehensive living environment. The company's activities are centered around this objective, with a focus on creating suitable housing options for this specific demographic.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Santa Maria Towers Housing Development Fund Company Inc has received a rating of 79%, indicating a solid level of organizational performance and accountability. The charity benefits from an entirely independent board, which is a strong indicator of governance quality and commitment to transparency. Their financial oversight is robust, with no material diversion of assets and a well-structured audit committee, which reflects positively on their financial health and accountability practices.
The organization also demonstrates a commitment to ethical governance through the establishment of various policies, including conflict of interest, whistleblower protection, and document retention. These policies are fully listed and adhered to, contributing to the charity's strong score in these areas. Additionally, the program expense ratio is commendable, with a significant portion of funds being directed towards their mission-related activities.
Despite these strengths, the overall rating suggests there is room for improvement. While the charity has a strong governance framework and financial practices, the rating indicates that further enhancements could elevate their performance to an even higher standard. Overall, Santa Maria Towers Housing Development Fund Company Inc appears to be a responsible organization, effectively managing resources to fulfill its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Santa Maria Towers Housing Development Fund Company Inc legitimate?
Santa Maria Towers Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Santa Maria Towers 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: $254,877
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What is the mission statement of Santa Maria Towers Housing Development Fund Company Inc?
Santa Maria Towers Housing Development Fund Company Inc's mission is centered around providing low-income housing. This organization strives to go beyond just offering shelter, aiming to cater to the physical, social, and psychological needs of its residents, primarily elderly and handicapped individuals. The company's goal is to create an environment that supports their overall well-being, ensuring they live with dignity and comfort.
What is the revenue of Santa Maria Towers Housing Development Fund Company Inc?
Santa Maria Towers Housing Development Fund Company Inc's revenue in 2024 was $1,218,818.
Who are the executives of Santa Maria Towers Housing Development Fund Company Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Santa Maria Towers Housing Development Fund Company Inc?
Santa Maria Towers Housing Development Fund Company Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Santa Maria Towers Housing Development Fund Company Inc
Santa Maria Towers Housing Development Fund Company is committed to providing low-income housing that caters to the holistic needs of elderly and handicapped individuals. This nonprofit organization strives to create living spaces that cater not only to the physical requirements of its residents but also to their social and psychological needs. By offering suitable housing, Santa Maria Towers aims to improve the quality of life for those who are often disadvantaged in society. The organization's mission is grounded in the belief that everyone deserves a safe and comfortable living environment, regardless of their financial situation or physical abilities.
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Impact
October, 2024
Santa Maria Towers Housing Development Fund Company Inc significantly impacts the Buffalo community by providing essential low-income housing for elderly and handicapped individuals. By focusing on the physical, social, and psychological needs of these vulnerable populations, the organization helps to ensure that residents have access to safe and supportive living conditions. This initiative not only aids in alleviating housing insecurity for low-income families but also fosters a sense of community and belonging among residents. By catering to the specific needs of the elderly and handicapped, Santa Maria Towers contributes to enhancing their quality of life, promoting independence, and improving overall well-being in Buffalo, NY.
This information is meant to be a general summary of Santa Maria Towers 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 2024.
- Investment Income: $1,562
- Program Service Revenue: $1,212,211
- Gross Receipts: $1,218,818
Assets and Liabilities:
- Total Assets: $3,294,938
- Total Liabilities: $5,473,483
- Net Assets: -$2,178,545
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE PAYM
Revenue
$825,162
RENTAL INCOME
Revenue
$385,774
GARAGE & PARKING REVEN
Revenue
$1,275
Organization Details
Founding Year
1982
Principal Officer
Deacon Steve Schumer
NTEE Category
Code: L21 - Housing
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