Overview
What is Shaarey Zedek Housing Development Fund Corporation?
Shaarey Zedek Housing Development Fund Corporation is a nonprofit organization dedicated to providing senior housing for individuals with low to moderate income, aged 55 and above. Situated in Amherst, NY, the organization manages a 59-unit project that serves as a sanctuary for this demographic. Their mission focuses on enhancing the living standards of senior citizens by offering them a comfortable and supportive environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement - Overall score: 65% - Two-Star out of Four Star rating. The Shaarey Zedek Housing Development Fund Corporation has received a two-star rating, indicating that there are areas needing significant improvement. The accountability and finance aspects of the organization score well, achieving a perfect score of 100%. This reflects strong governance, with a majority of independent board members and effective oversight of financial statements.
Despite the strengths in governance ratings, the organization has several critical limitations. There are multiple missing disclosures, including important policies such as conflict of interest, whistleblower protections, and document retention protocols. Additionally, the organization's website does not list tax forms, which affects its transparency and accessibility of information to the public.
Financially, the organization has a concerning liabilities to assets ratio of 135.81%, indicating a potential risk in meeting its obligations. However, its program expense ratio is favorable at 77.69%, suggesting that the majority of its expenditures are directed towards its programs. Overall, while the organization demonstrates strong governance, it must address its transparency issues and financial health to improve its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Shaarey Zedek Housing Development Fund Corporation legitimate?
Shaarey Zedek Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Shaarey Zedek Housing Development Fund Corporation 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: $52,613
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What is the mission statement of Shaarey Zedek Housing Development Fund Corporation?
The Shaarey Zedek Housing Development Fund Corporation is dedicated to providing senior housing for individuals with moderate to low income, aged 55 and above. Their mission is fulfilled through the operation of a 59-unit housing project, situated in an unspecified location. The aim of this organization is to offer a living space that caters to the needs of senior citizens, promoting a comfortable and supportive environment for this age group.
Who is the CEO of Shaarey Zedek Housing Development Fund Corporation?
Steven R Jacobs is the President of Shaarey Zedek Housing Development Fund Corporation.
What is the revenue of Shaarey Zedek Housing Development Fund Corporation?
Shaarey Zedek Housing Development Fund Corporation's revenue in 2022 was $485,084.
Who are the executives of Shaarey Zedek Housing Development Fund Corporation and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for Shaarey Zedek Housing Development Fund Corporation?
Shaarey Zedek Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Shaarey Zedek Housing Development Fund Corporation
Shaarey Zedek Housing Development Fund Corporation is dedicated to providing senior housing for individuals with modest incomes, specifically those over the age of 55. Situated in Amherst, NY, this nonprofit organization operates a 59-unit project that serves as a home for its residents. The mission of Shaarey Zedek Housing Development Fund Corporation is centered around offering comfortable and affordable living spaces for senior citizens, ensuring they can spend their golden years in a secure environment. By providing senior housing, the organization aims to support the needs of this vulnerable population, enabling them to maintain their independence and dignity.
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Impact
July, 2024
Shaarey Zedek Housing Development Fund Corporation provides vital housing solutions for low to moderate income individuals aged 55 and above in Amherst, NY. By operating a 59-unit housing project tailored to the needs of seniors, this organization directly addresses the pressing issue of affordable and age-appropriate housing in the community. The impact of Shaarey Zedek is significant, as it enables seniors to live comfortably and independently while fostering a sense of community and support among its residents.
This information is meant to be a general summary of Shaarey Zedek Housing Development Fund Corporation. 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: $138
- Program Service Revenue: $478,490
- Gross Receipts: $485,084
Assets and Liabilities:
- Total Assets: $2,730,545
- Total Liabilities: $3,654,347
- Net Assets: -$923,802
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$478,490
Organization Details
Founding Year
1985
Phone
(716) 834-3711Principal Officer
Steven R Jacobs
Main Address
410 HARTFORD ROAD, AMHERST, NY, 14226
NTEE Category
Code: L21 - Housing
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