Overview
What is South Lewis Housing Development Fund Company Inc?
South Lewis Housing Development Fund Company Inc is a nonprofit organization with a mission to provide affordable housing for individuals who are elderly, aged sixty-two and above, and handicapped, regardless of their age. This New York-based organization is dedicated to offering housing solutions for this specific group, aiming to make quality living accommodations accessible to those in need. Through its initiatives, South Lewis Housing Development Fund Company Inc strives to improve the living conditions of its target demographic and contribute to their overall well-being.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (58%)
South Lewis Housing Development Fund Company Inc has received a One-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. While the organization excels in certain areas, such as maintaining a fully independent board and a high program expense ratio of 92.88%, it also faces serious issues, particularly with its financial management evidenced by a liabilities to assets ratio of 294.36%.
The organization shows strong governance elements, including thorough documentation of board meeting minutes and no material diversion of assets. However, it fails to meet several essential accountability standards, such as providing a publicly accessible tax form and having a conflict of interest policy. These missing elements raise questions about transparency and the organization's commitment to best practices in nonprofit governance.
Overall, while South Lewis Housing Development Fund Company Inc demonstrates effective program spending and robust board independence, the lack of crucial financial disclosures and policies suggests significant areas for improvement. Stakeholders are encouraged to consider these limitations when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is South Lewis Housing Development Fund Company Inc legitimate?
South Lewis Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. South Lewis 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: $0
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What is the mission statement of South Lewis Housing Development Fund Company Inc?
South Lewis Housing Development Fund Company Inc's mission is centered around providing affordable housing for individuals in need. Specifically, they focus on serving the elderly population over the age of 62 and individuals with disabilities of all ages. Their mission is to ensure that these groups have access to suitable housing, reinforcing the importance of affordable living options for these vulnerable groups.
Who is the CEO of South Lewis Housing Development Fund Company Inc?
Tony Belmont is the President of South Lewis Housing Development Fund Company Inc.
What is the revenue of South Lewis Housing Development Fund Company Inc?
South Lewis Housing Development Fund Company Inc's revenue in 2023 was $76,209.
Who are the executives of South Lewis Housing Development Fund Company Inc and what are their salaries?
There 9 volunteers at South Lewis Housing Development Fund Company Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for South Lewis Housing Development Fund Company Inc?
South Lewis Housing Development Fund Company Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of South Lewis Housing Development Fund Company Inc
South Lewis Housing Development Fund Company Inc is committed to providing affordable housing for individuals who are elderly and handicapped, regardless of their age. The organization's mission is twofold: firstly, it aims to offer suitable living accommodations for elderly individuals aged sixty-two and above. Secondly, it extends its services to handicapped individuals of all ages. The company's primary objective is to ensure that these vulnerable groups have access to affordable housing, thereby enhancing their quality of life. This nonprofit organization is dedicated to making a significant impact in the lives of these individuals by providing them with a secure and comfortable living environment.
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Impact
August, 2024
South Lewis Housing Development Fund Company Inc's impact is crucial in providing affordable housing for low-income elderly individuals over the age of sixty-two and handicapped individuals of all ages in the city of Lowville, NY. By offering housing solutions tailored to the specific needs of these vulnerable populations, the organization plays a vital role in ensuring that these individuals have access to safe and stable housing options. This contributes to enhancing their quality of life and overall well-being, addressing a pressing need within the community.
This information is meant to be a general summary of South Lewis 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: $13
- Program Service Revenue: $75,523
- Gross Receipts: $76,209
Assets and Liabilities:
- Total Assets: $131,397
- Total Liabilities: $386,790
- Net Assets: -$255,393
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental income
Revenue
$43,831
Rural rental assistance
Revenue
$31,692
Organization Details
Founding Year
1986
Phone
(315) 376-2639Principal Officer
Tony Belmont
Main Address
7500 S State St, Lowville, NY, 13367
NTEE Category
Code: L22 - Housing
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