Overview
What is East Chinatown Housing Development Fund Company Inc?
East Chinatown Housing Development Fund Company Inc is a nonprofit organization established in New York City. Their primary mission is to develop and preserve affordable housing for individuals with low income. By operating on a non-profit basis, they aim to provide an essential resource within the city, contributing to the betterment of the community. The organization's activities focus on creating and maintaining affordable housing projects, ensuring that residents have access to suitable living conditions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (64%)
The East Chinatown Housing Development Fund Company Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in its overall operations. While the organization excels in Accountability & Finance with a perfect score of 100%, it faces significant challenges in governance, particularly regarding board independence, as it has no independent board members.
Strengths noted include a high program expense ratio of 89.42%, demonstrating a commitment to directing funds towards its mission. Additionally, it has established policies for conflict of interest and whistleblower protections, which contribute positively to its governance structure. However, the absence of an independent board and missing financial documents on its website raise concerns about transparency and oversight.
Overall, while the organization showcases some strong financial management practices, its governance issues and lack of independent oversight could impact its effectiveness and public trust. Addressing these areas will be crucial for enhancing its rating and operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is East Chinatown Housing Development Fund Company Inc legitimate?
East Chinatown Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. East Chinatown Housing Development Fund Company 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 East Chinatown Housing Development Fund Company Inc?
East Chinatown Housing Development Fund Company Inc was established with the mission to develop, on a non-profit basis, a housing project catering to individuals of low income. Their primary objective is to create and preserve affordable housing. The organization focuses on improving living conditions for those with limited financial resources. By providing affordable housing, they aim to contribute positively to the community and promote social equity.
Who is the CEO of East Chinatown Housing Development Fund Company Inc?
Thomas Yu is the Co-Executive Director (Outgoing) of East Chinatown Housing Development Fund Company Inc.
What is the revenue of East Chinatown Housing Development Fund Company Inc?
East Chinatown Housing Development Fund Company Inc's revenue in 2022 was $632,284.
Who are the executives of East Chinatown Housing Development Fund Company Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $160,060
- Other: $40,689
- Compensation: $0
- Related: $268,262
- Other: $53,087
- Compensation: $0
- Related: $163,579
- Other: $13,682
- Compensation: $0
- Related: $96,262
- Other: $10,776
- Compensation: $0
- Related: $63,837
- Other: $1,267
Where can I find the form 990 for East Chinatown Housing Development Fund Company Inc?
East Chinatown Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of East Chinatown Housing Development Fund Company Inc
East Chinatown Housing Development Fund Company Inc, a non-profit organization, was established with a mission to develop and preserve affordable housing for individuals of low income in New York City. The company's primary objective is to create a housing project on a non-profit basis, aiming to provide affordable living spaces for those who may otherwise struggle with housing costs. By developing such a project, the organization seeks to contribute to the community by ensuring that a diverse range of people have access to suitable housing, thereby improving their overall quality of life.
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
July, 2024
East Chinatown Housing Development Fund Company Inc's impact is focused on developing and preserving affordable housing for persons of low income in New York City. They play a crucial role in addressing the housing needs of marginalized communities and ensuring that those with limited financial resources have access to safe and affordable housing options. By creating a housing project on a non-profit basis, they contribute to the overall well-being and stability of individuals and families in need. Their mission directly impacts the lives of individuals who may otherwise struggle to find suitable housing options, providing them with a foundation for a better quality of life.
This information is meant to be a general summary of East Chinatown Housing Development Fund Company 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: $19,037
- Program Service Revenue: $585,608
- Gross Receipts: $632,284
Assets and Liabilities:
- Total Assets: $3,805,171
- Total Liabilities: $3,303,960
- Net Assets: $501,211
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.
RENTAL INCOME
Revenue
$578,380
BAD DEBT RECOVRY
Revenue
$7,228
Organization Details
Founding Year
2005
Phone
(212) 477-2265Principal Officer
Thomas Yu
Main Address
141 NORFOLK ST GROUND FLOOR, NEW YORK, NY, 10002
NTEE Category
Code: L21 - Housing
If you are a representative of East Chinatown Housing Development Fund Company 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.