Overview
What is Sepp Housing Development Fund Corp?
Sepp Housing Development Fund Corp is a nonprofit organization dedicated to addressing the housing needs of individuals with limited resources. Located within their operations, Wells Apartments provides affordable housing solutions under the umbrella of the National Housing Act, specifically through Section 8 and Section 236. The organization's mission is to make housing accessible to those in need, ensuring that everyone has a place to call home. Their initiatives encompass low-income and subsidized housing options, contributing positively to their community.
Official website here: www.seppmanagement.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68% (Two-Star out of Four Star rating)
Sepp Housing Development Fund Corp has received a 68% rating from Charity Navigator, indicating moderate performance in accountability and finance. The organization benefits from a fully independent board, which is a strong point, and it has received high scores for its financial statements audit and absence of asset diversion. However, there are notable weaknesses, particularly in governance policies and transparency, as it lacks a whistleblower policy and document retention protocols.
The organization's program expense ratio is relatively healthy at 65.89%, suggesting that a significant portion of its expenditures is directed toward its programs. Nonetheless, the high liabilities to assets ratio of 212.54% raises concerns about its financial stability. This could affect its long-term sustainability and ability to fulfill its mission effectively.
In summary, while Sepp Housing Development Fund Corp maintains a number of strong governance practices such as an independent board and appropriate financial oversight, its shortcomings in governance policies and financial ratios indicate areas that require improvement to ensure greater accountability and operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Sepp Housing Development Fund Corp legitimate?
Sepp Housing Development Fund Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sepp Housing Development Fund Corp 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:
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Other Salaries and Wages: $67,362
For more financial information, click here
Official website here: www.seppmanagement.com
What is the mission statement of Sepp Housing Development Fund Corp?
Sepp Housing Development Fund Corp, through its Wells Apartments, is dedicated to providing affordable housing solutions for individuals in need. They accomplish this mission under the provisions of section 8 and section 236 of the National Housing Act. The primary goal is to offer subsidized housing options to those who are economically disadvantaged. This commitment to affordable housing aims to make housing more accessible for those who might otherwise struggle to secure it.
Official website here: www.seppmanagement.com
Who is the CEO of Sepp Housing Development Fund Corp?
John Bernardo is the Member of Sepp Housing Development Fund Corp.
Official website here: www.seppmanagement.com
What is the revenue of Sepp Housing Development Fund Corp?
Sepp Housing Development Fund Corp's revenue in 2023 was $658,446.
Official website here: www.seppmanagement.com
Who are the executives of Sepp Housing Development Fund Corp and what are their salaries?
Here are 21 key members and their salaries:
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- Related: $150,934
- Other: $20,672
Official website here: www.seppmanagement.com
Where can I find the form 990 for Sepp Housing Development Fund Corp?
Sepp Housing Development Fund Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.seppmanagement.com
Learn more at the official website: www.seppmanagement.com
Mission Statement of Sepp Housing Development Fund Corp
Sepp Housing Development Fund Corp, a nonprofit organization, is dedicated to providing affordable housing options for individuals in need. Their mission is accomplished through the implementation of section 8 and section 236 of the National Housing Act. This means they offer subsidized housing, enabling low-income families to secure stable living quarters. The primary goal of Sepp Housing Development Fund Corp is to make a significant impact on the community by ensuring that affordable housing remains accessible to those who require it. By offering subsidized housing, the organization is able to contribute to a more equitable society, where everyone has the opportunity to live in a safe and secure environment, regardless of their financial situation.
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Impact
July, 2024
Sepp Housing Development Fund Corp's impact can be seen through its provision of low-income and subsidized housing options at Wells Apartments in Binghamton, NY. By offering affordable housing under sections 8 and 236 of the national Housing Act, Sepp Housing Development Fund Corp fulfills its mission of providing crucial housing options to those in need. This contributes to addressing the housing challenges faced by low-income individuals and families in the community, ultimately improving their quality of life and promoting stability.
This information is meant to be a general summary of Sepp Housing Development Fund Corp. 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: $74
- Program Service Revenue: $598,135
- Gross Receipts: $658,446
Assets and Liabilities:
- Total Assets: $917,108
- Total Liabilities: $1,949,268
- Net Assets: -$1,032,160
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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
$414,305
RENTAL INCOME
Revenue
$183,830
Organization Details
Founding Year
1987
Phone
(607) 723-8989Principal Officer
John Bernardo
Main Address
53 FRONT STREET, BINGHAMTON, NY, 13905
Website
www.seppmanagement.comNTEE Category
Code: L21Z - Housing
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