Overview
What is Rivercrest Commons Housing Development Fund Company Inc?
Rivercrest Commons Housing Development Fund Company Inc is a nonprofit organization situated in Amsterdam, New York, with a focus on providing housing facilities and services tailored to meet the unique needs of elderly and handicapped individuals. Their mission involves serving the underprivileged low-income families and individuals by actively developing, acquiring, constructing, renovating, operating, maintaining, and improving rental housing. Furthermore, they facilitate home ownership opportunities, contributing to the betterment of their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating.
Rivercrest Commons Housing Development Fund Company Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial performance. The charity's score is derived entirely from its Accountability & Finance beacon, highlighting areas where the organization excels as well as those needing improvement.
The organization demonstrates strong governance practices, with 75% of its board members being independent, and a high program expense ratio of 82.62%, which suggests that a significant portion of its funds is allocated towards programmatic activities. Additionally, the organization has shown responsible management of its assets with no material diversion reported and a favorable liabilities-to-assets ratio of 8.52%.
However, the charity has notable gaps in its governance policies, including missing conflict of interest and whistleblower policies, as well as a lack of a website link on its tax form. These deficiencies are reflected in the lower scores in these areas, which ultimately affect the overall rating despite the strengths noted in financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Rivercrest Commons Housing Development Fund Company Inc legitimate?
Rivercrest Commons Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rivercrest Commons 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: $3,551
For more financial information, click here
What is the mission statement of Rivercrest Commons Housing Development Fund Company Inc?
Rivercrest Commons Housing Development Fund Company Inc is committed to serving the needs of low-income families and individuals who are poor, distressed, or underprivileged. They achieve this by engaging in various activities such as developing, acquiring, constructing, renovating, operating, maintaining, and improving rental housing. Additionally, the company facilitates home ownership opportunities to further support these individuals and families. The organization's mission extends to improving the living conditions of elderly and handicapped persons, providing them with housing facilities and services specifically designed to meet their physical, social, and psychological needs.
Who is the CEO of Rivercrest Commons Housing Development Fund Company Inc?
Damaris Carbone is the Ceo/Secretary of Rivercrest Commons Housing Development Fund Company Inc. The CEO's salary of Rivercrest Commons Housing Development Fund Company Inc is $0 and their total compensation is $0.
What is the revenue of Rivercrest Commons Housing Development Fund Company Inc?
Rivercrest Commons Housing Development Fund Company Inc's revenue in 2022 was $58,428.
Who are the executives of Rivercrest Commons Housing Development Fund Company Inc and what are their salaries?
Here are 4 key members and their salaries (Rivercrest Commons Housing Development Fund Company Inc's CEO's salary is $0 and their total compensation is $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
Where can I find the form 990 for Rivercrest Commons Housing Development Fund Company Inc?
Rivercrest Commons Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rivercrest Commons Housing Development Fund Company Inc
Rivercrest Commons Housing Development Fund Company Inc is dedicated to serving the needs of the underprivileged, distressed, and low-income families and individuals. The nonprofit organization achieves this mission by engaging in various activities, such as developing, acquiring, constructing, renovating, operating, maintaining, and improving rental housing. Additionally, Rivercrest Commons facilitates home ownership opportunities, providing a much-needed solution for those who may not have had access to these opportunities otherwise.
Beyond its focus on rental housing and home ownership, Rivercrest Commons also extends its services to the elderly and handicapped individuals. The organization recognizes the unique physical, social, and psychological needs of this demographic and works diligently to provide housing facilities and services specifically designed to cater to these needs. This commitment to serving the elderly and handicapped demonstrates Rivercrest Commons' comprehensive approach to addressing the needs of the underprivileged and low-income communities it serves.
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Impact
August, 2024
Rivercrest Commons Housing Development Fund Company Inc's impact lies in providing essential services to the poor, distressed, and underprivileged low-income families and individuals. Through developing, acquiring, constructing, renovating, operating, maintaining, and improving rental housing, this organization facilitates home ownership opportunities for those in need. Additionally, they offer housing facilities and services tailored to meet the physical, social, and psychological needs of elderly and handicapped individuals. Located in Amsterdam, NY, Rivercrest Commons Housing Development Fund Company Inc plays a crucial role in addressing housing challenges and improving the quality of life for vulnerable populations.
This information is meant to be a general summary of Rivercrest Commons 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: $18
- Program Service Revenue: $21,347
- Gross Receipts: $58,428
Assets and Liabilities:
- Total Assets: $427,857
- Total Liabilities: $36,458
- Net Assets: $391,399
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$21,347
Organization Details
Founding Year
2004
Phone
(518) 842-2894Principal Officer
Damaris Carbone
Main Address
52 DIVISION STREET, AMSTERDAM, NY, 12010
NTEE Category
Code: L21 - Housing
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