Overview
What is Greater Rochester Housing Partnership Inc?
Greater Rochester Housing Partnership Inc, based in Rochester, New York, is a dedicated nonprofit organization with a primary mission to support the development and financing of affordable housing projects. They collaborate with developers, social services agencies, and banks to provide essential funding, contributing to a more inclusive housing landscape in the Rochester area. The organization continues to foster lending activities on ongoing projects and seeks opportunities to expand community resources for affordable housing. With a team of four dedicated individuals, Greater Rochester Housing Partnership Inc is committed to making a meaningful impact on the local community.
Official website here: www.grhp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56% (One-Star out of Four Stars)
The Greater Rochester Housing Partnership Inc has received a low score of 56% from Charity Navigator, which translates to a One-Star rating. While the organization demonstrates strong governance practices with a fully independent board and solid policies in place for conflicts of interest and whistleblower protections, financial metrics raise concerns. The organization has a high liabilities to assets ratio and a relatively low program expense ratio, indicating potential inefficiencies in fund allocation.
Strengths of the organization include a fully independent board and effective oversight mechanisms, which contribute positively to its accountability framework. The organization has received full marks in several governance areas, such as audit committee oversight and documentation practices. These aspects suggest a commitment to maintaining transparency and ethical standards in operations.
However, the financial performance indicators highlight significant areas for improvement. The absence of the tax form on its website and low program expense ratio indicate that a smaller portion of its budget is being directed toward its programs, which may affect its overall impact. Addressing these financial concerns could enhance the organization's rating and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Rochester Housing Partnership Inc legitimate?
Greater Rochester Housing Partnership Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Rochester Housing Partnership 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: $276,346
Professional Fundraising Fees: $0
Other Salaries and Wages: $54,475
For more financial information, click here
Official website here: www.grhp.org
What is the mission statement of Greater Rochester Housing Partnership Inc?
The Greater Rochester Housing Partnership Inc, established primarily, aims to provide financing for affordable housing projects for social services and housing agencies. This is achieved either directly or through collaborations with banks in the Rochester, New York area. Additionally, the organization offers financing and development services to developers of affordable housing, either directly or by working with other lenders. The Partnership continues its lending activities on projects initiated in previous years and closes on new loans. Furthermore, it continually identifies and cultivates opportunities to expand the community resources available for financing and supporting affordable housing.
Official website here: www.grhp.org
Who is the CEO of Greater Rochester Housing Partnership Inc?
Theodora Finn is the President of Greater Rochester Housing Partnership Inc.
Official website here: www.grhp.org
What is the revenue of Greater Rochester Housing Partnership Inc?
Greater Rochester Housing Partnership Inc's revenue in 2022 was $889,346.
Official website here: www.grhp.org
Who are the executives of Greater Rochester Housing Partnership Inc and what are their salaries?
The average compensation at Greater Rochester Housing Partnership Inc during 2022 was $82,705. There are 4 employees at Greater Rochester Housing Partnership Inc.
Here are 16 key members and their salaries:
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- Compensation: $111,335
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- Other: $16,970
- Compensation: $147,935
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- Other: $22,464
Official website here: www.grhp.org
Where can I find the form 990 for Greater Rochester Housing Partnership Inc?
Greater Rochester Housing Partnership Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.grhp.org
Learn more at the official website: www.grhp.org
Mission Statement of Greater Rochester Housing Partnership Inc
Greater Rochester Housing Partnership Inc, a nonprofit organization, was established with a primary mission to provide financing for affordable housing projects. This mission is directed towards social services and housing agencies, either directly or in collaboration with banks, within the Rochester, New York area. The organization's role expands beyond just financing, as it also offers development services to developers of affordable housing. This can be done either directly or by partnering with other lenders. Greater Rochester Housing Partnership Inc continues its lending activity on projects that commenced in previous years and seals new loan agreements. The organization is consistently seeking and cultivating opportunities to increase the community resources available for financing and supporting affordable housing.
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Impact
October, 2024
Greater Rochester Housing Partnership Inc (GRHP) significantly impacts the Rochester, NY area by facilitating financing and development for affordable housing projects. By providing essential financial resources and development services, GRHP supports both developers and social service agencies in creating sustainable housing solutions.
Through its ongoing lending activities, GRHP not only facilitates the completion of existing projects but also ensures that new initiatives are funded, thereby addressing the persistent need for affordable housing in the community. By cultivating partnerships with various lenders, GRHP expands the available resources for affordable housing, enhancing community support systems and increasing accessibility for residents in need.
Ultimately, GRHP's efforts contribute to the stability and growth of the neighborhood, leading to improved living conditions for individuals and families, and fostering a more inclusive community.
This information is meant to be a general summary of Greater Rochester Housing Partnership 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: $9,539
- Program Service Revenue: $379,707
- Gross Receipts: $889,346
Assets and Liabilities:
- Total Assets: $13,650,007
- Total Liabilities: $3,265,578
- Net Assets: $10,384,429
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON FINANCING
Revenue
$227,946
MANAGEMENT FEES
Revenue
$94,143
FEES
Revenue
$57,618
Organization Details
Founding Year
1992
Phone
(585) 423-6320Principal Officer
Theodora Finn
Main Address
16 EAST MAIN STREET SUITE 610, ROCHESTER, NY, 14614
Website
www.grhp.orgNTEE Category
Code: L200 - Housing
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