Overview
What is Heart Of The City Neighborhoods Inc?
Heart of the City Neighborhoods Inc., based in Buffalo, New York, is a not-for-profit organization with a mission to foster and support housing and neighborhood development within the city. This dedicated corporation works tirelessly towards the betterment of Western New York neighborhoods, striving for preservation and development. With a team of 12 employees, Heart of the City Neighborhoods Inc. plays a pivotal role in promoting the well-being of their community.
Official website here: www.hocn.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 81% - Three-Star out of Four Star Rating
Heart Of The City Neighborhoods Inc has received a three-star rating from Charity Navigator, indicating a solid performance in accountability and finance. The score reflects a strong emphasis on transparency and effective management, with a perfect score in areas such as independent board membership and the presence of necessary policies.
The organization showcases its commitment to responsible financial practices, evidenced by an impressive program expense ratio of 88.91%. This suggests that a significant majority of its resources are directed towards its programs, prioritizing its mission. Additionally, the nonprofit maintains robust oversight mechanisms, including an Audit and Oversight Committee, which helps ensure the integrity of its financial reporting.
However, the rating highlights a concern with the organization's liabilities to assets ratio, which scored zero out of fifteen points. This may indicate potential financial vulnerabilities that could impact its long-term sustainability. Overall, while Heart Of The City Neighborhoods Inc demonstrates notable strengths in governance and program spending, attention may be needed to address its financial health.
This AI summary has been generated from information found on Charity Navigator.
Is Heart Of The City Neighborhoods Inc legitimate?
Heart Of The City Neighborhoods Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Heart Of The City Neighborhoods 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: $105,393
Professional Fundraising Fees: $0
Other Salaries and Wages: $348,856
For more financial information, click here
Official website here: www.hocn.org
What is the mission statement of Heart Of The City Neighborhoods Inc?
Heart of the City Neighborhoods Inc., a not-for-profit corporation, is dedicated to promoting neighborhood development and preservation in Western New York. Its mission is to facilitate and support housing development and improve neighborhoods in the city of Buffalo. The organization aims to create a positive impact in its community by fostering growth and stability in local neighborhoods.
Official website here: www.hocn.org
Who is the CEO of Heart Of The City Neighborhoods Inc?
Stephanie Simeon is the President of Heart Of The City Neighborhoods Inc.
Official website here: www.hocn.org
What is the revenue of Heart Of The City Neighborhoods Inc?
Heart Of The City Neighborhoods Inc's revenue in 2022 was $1,658,680.
Official website here: www.hocn.org
Who are the executives of Heart Of The City Neighborhoods Inc and what are their salaries?
The average compensation at Heart Of The City Neighborhoods Inc during 2022 was $37,854. There are 12 employees at Heart Of The City Neighborhoods Inc.
Here are 9 key members and their salaries:
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- Compensation: $79,124
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- Compensation: $20,717
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Official website here: www.hocn.org
Where can I find the form 990 for Heart Of The City Neighborhoods Inc?
Heart Of The City Neighborhoods Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hocn.org
Learn more at the official website: www.hocn.org
Mission Statement of Heart Of The City Neighborhoods Inc
Heart of the City Neighborhoods Inc, a not-for-profit corporation, is committed to the mission of fostering neighborhood development and preservation in Western New York. Their primary objective is to create, facilitate, and support housing and neighborhood development in Buffalo, the city they serve. This organization's efforts are geared towards improving the living conditions and overall well-being of the communities they are involved with, thereby contributing to a better quality of life for its residents.
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Impact
October, 2024
Heart Of The City Neighborhoods Inc significantly impacts the development and preservation of neighborhoods in Western New York, particularly in Buffalo. This organization focuses on creating, facilitating, and supporting housing initiatives that enhance community living. By addressing housing needs and fostering neighborhood improvement, it plays a crucial role in revitalizing areas, encouraging sustainable development, and strengthening community ties. Through its efforts, it promotes a better quality of life for residents, ensuring that neighborhoods not only thrive but also maintain their unique character and sense of belonging.
This information is meant to be a general summary of Heart Of The City Neighborhoods 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: $99
- Program Service Revenue: $143,734
- Gross Receipts: $1,658,680
Assets and Liabilities:
- Total Assets: $565,159
- Total Liabilities: $430,283
- Net Assets: $134,876
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TECHNICAL ASSISTANCE
Revenue
$124,906
MANAGEMENT FEES
Revenue
$13,430
RENTAL INCOME
Revenue
$5,398
Organization Details
Founding Year
1995
Phone
(716) 882-7661Principal Officer
Stephanie Simeon
Main Address
191 NORTH STREET 1, BUFFALO, NY, 14201
Website
www.hocn.orgNTEE Category
Code: L20 - Housing
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