Overview
What is Encore West Residence Housing Development Fund Corporation?
Encore West Residence Housing Development Fund Corporation is a nonprofit organization situated in New York City, specifically at 239 West 49th Street, New York, NY 10019. Their primary focus is on providing supportive housing for senior citizens with very low incomes. This includes the construction, development, and operation of 84 housing units that are eligible for HUD Section 8 rental assistance. Their mission is to enhance the living conditions for this demographic, providing them with a secure and comfortable environment. The organization currently employs a team of two individuals.
Official website here: www.encorenyc.org/encore-west-residence
What are the reviews and ratings of this charity?
Charity Navigator Rating 88% - Three-Star out of Four Stars .ating.
Encore West Residence Housing Development Fund Corporation has achieved a commendable Three-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. The organization's overall score is based entirely on its financial management practices, underscoring its commitment to transparency and responsible stewardship of resources.
The organization demonstrates excellent governance, with all board members being independent, and it scores full points for its audit and oversight structure. Additionally, the charity has no material diversion of assets and maintains a robust program expense ratio of 84.67%, which highlights a significant portion of its funds being directed toward its core mission.
However, the organization does face criticism for the absence of a whistleblower policy and document retention guidelines, both of which received no points. While these are areas needing improvement, the overall financial health and governance of Encore West residence appear to be strong, positioning it well in terms of accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Encore West Residence Housing Development Fund Corporation legitimate?
Encore West Residence Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Encore West Residence 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: $72,912
For more financial information, click here
Official website here: www.encorenyc.org/encore-west-residence
What is the mission statement of Encore West Residence Housing Development Fund Corporation?
The Encore West Residence Housing Development Fund Corporation's mission is to contribute to the well-being of financially disadvantaged elderly individuals. They accomplish this by engaging in the development, construction, and management of housing and related facilities specifically designed for senior citizens with minimal income. The housing complex under their management, consisting of 84 units, is eligible for HUD Section 8 rental assistance, thereby providing these senior citizens with affordable housing solutions.
Official website here: www.encorenyc.org/encore-west-residence
Who is the CEO of Encore West Residence Housing Development Fund Corporation?
Jeremy Kaplan is the Executive Dir. of Encore West Residence Housing Development Fund Corporation.
Official website here: www.encorenyc.org/encore-west-residence
What is the revenue of Encore West Residence Housing Development Fund Corporation?
Encore West Residence Housing Development Fund Corporation's revenue in 2022 was $1,246,179.
Official website here: www.encorenyc.org/encore-west-residence
Who are the executives of Encore West Residence Housing Development Fund Corporation and what are their salaries?
The average compensation at Encore West Residence Housing Development Fund Corporation during 2022 was $36,456. There are 2 employees and 6 volunteers at Encore West Residence Housing Development Fund Corporation.
Here are 11 key members and their salaries:
- Compensation: $0
- Related: $187,667
- Other: $22,116
- Compensation: $0
- Related: $160,818
- Other: $23,568
- Compensation: $0
- Related: $70,245
- Other: $11,601
- Compensation: $0
- Related: $50,548
- Other: $3,397
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.encorenyc.org/encore-west-residence
Where can I find the form 990 for Encore West Residence Housing Development Fund Corporation?
Encore West Residence Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.encorenyc.org/encore-west-residence
Learn more at the official website: www.encorenyc.org/encore-west-residence
Mission Statement of Encore West Residence Housing Development Fund Corporation
Encore West Residence Housing Development Fund Corporation is dedicated to serving the needs of very low-income senior citizens. Their mission is focused on developing, constructing, and managing housing and related facilities tailored for this specific demographic. Through this endeavor, they aim to provide a stable living environment that is eligible for HUD Section 8 rental assistance, ensuring affordability for their residents. This nonprofit organization's purpose is to contribute to the well-being of senior citizens by offering them suitable housing accommodations.
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Impact
October, 2024
Encore West Residence Housing Development Fund Corporation significantly impacts the community by providing essential supportive housing for very low-income seniors in New York City. By constructing and operating 84 housing units that qualify for HUD Section 8 rental assistance, the organization ensures that vulnerable seniors have access to safe, affordable, and stable living conditions.
This development helps reduce homelessness and housing instability among low-income elderly individuals, allowing them to age in place with dignity. The supportive housing environment not only meets their basic needs but also fosters a sense of community, promotes social engagement, and enhances overall well-being. By addressing the critical housing needs of this demographic, Encore West Residence plays a vital role in improving the quality of life for seniors in the area.
This information is meant to be a general summary of Encore West Residence 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: $25
- Program Service Revenue: $1,241,771
- Gross Receipts: $1,246,179
Assets and Liabilities:
- Total Assets: $9,651,670
- Total Liabilities: $232,382
- Net Assets: $9,419,288
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income
Revenue
$1,241,771
Organization Details
Founding Year
2003
Phone
(212) 581-2910Principal Officer
Jeremy Kaplan
Main Address
239 West 49th Street, New York, NY, 10019
NTEE Category
Code: L22 - Housing
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