Overview
What is Housing Development Foundation Inc?
Housing Development Foundation Inc, situated in Rochester, New York, is a nonprofit organization that focuses on providing housing solutions for tax-exempt institutions, specifically colleges, under Section 501(C)(3) of the Internal Revenue Code. Their primary mission is to accommodate college students, offering them suitable living spaces. The foundation's activities align with its mission, ensuring that it continues to contribute to the educational community by offering housing solutions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Housing Development Foundation Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in certain areas of its operations. The organization scores well in accountability and finance, achieving a perfect score of 100%, which showcases strong governance practices. Key strengths include a fully independent board and robust policies regarding conflict of interest and whistleblowing.
However, the organization faces significant challenges, particularly in financial transparency, as indicated by a poor score for its website's accessibility of tax forms and a low rating for the independent board size. Additionally, the liabilities to assets ratio of 68.45% suggests potential financial strain, while an impressive program expense ratio of 89.35% reflects a strong commitment to its mission. Overall, while there are commendable aspects, the foundation must address its weaknesses to enhance its overall effectiveness and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Development Foundation Inc legitimate?
Housing Development Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Development Foundation 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
For more financial information, click here
What is the mission statement of Housing Development Foundation Inc?
The Housing Development Foundation Inc, as a mission, is dedicated to providing housing facilities for college students and other organizations that fall under the tax-exempt category of Section 501(C)(3) of the Internal Revenue Code. The foundation's primary objective is to make housing accessible for these educational institutions, supporting their growth and development. By offering housing solutions, the foundation contributes to the overall learning environment and enables students to focus more on their academic pursuits. The foundation's activities are centered around this mission, aiming to provide suitable and comfortable living spaces for the targeted beneficiaries.
What is the revenue of Housing Development Foundation Inc?
Housing Development Foundation Inc's revenue in 2023 was $804,174.
Who are the executives of Housing Development Foundation Inc and what are their salaries?
There 2 volunteers at Housing Development Foundation Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $152,367
- Other: $2,286
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Housing Development Foundation Inc?
Housing Development Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Housing Development Foundation Inc
Housing Development Foundation Inc, a nonprofit organization, is dedicated to providing housing solutions for college students. This mission is carried out by offering housing accommodations to institutions that are exempt from federal income tax under Section 501(C)(3) of the Internal Revenue Code. By doing so, Housing Development Foundation Inc contributes to the educational journey of countless students, providing them with a stable living environment during their academic pursuits.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Housing Development Foundation Inc significantly impacts the lives of college students by providing essential housing solutions in Rochester, NY. Their focus on creating and maintaining affordable housing options supports students in pursuing their education with stability and security. By partnering with colleges and various tax-exempt organizations, they ensure that students have access to a safe and conducive living environment, which is vital for academic success.
Through their dedicated efforts, the foundation alleviates the financial burden associated with housing, allowing students to concentrate on their studies instead of worrying about finding a suitable place to live. This commitment not only fosters a strong educational community but also contributes to the overall well-being of students, enhancing their college experience. Ultimately, Housing Development Foundation Inc plays a crucial role in empowering the next generation of leaders by ensuring they have the foundational support needed to thrive academically.
This information is meant to be a general summary of Housing Development Foundation 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: $19,804
- Program Service Revenue: $684,470
- Gross Receipts: $804,174
Assets and Liabilities:
- Total Assets: $4,599,645
- Total Liabilities: $3,222,091
- Net Assets: $1,377,554
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROOM RENTAL
Revenue
$684,470
Organization Details
Founding Year
2000
Principal Officer
Laurie J Leo
NTEE Category
Code: L20 - Housing
If you are a representative of Housing Development Foundation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.