Overview
What is Providence Northstar Housing Development Fund Corporation?
Providence Northstar Housing Development Fund Corporation is a nonprofit organization situated in Rochester, New York, specifically at 1150 Buffalo Road. Their primary mission is to offer quality, affordable housing solutions to low-income families. Throughout part of 2022, they successfully housed 11 families. Despite providing this essential service, the organization decided to liquidate its existing low-income housing properties in 2022. In summary, Providence Northstar Housing Development Fund Corporation is dedicated to serving the housing needs of those in financial need, even if it means transitioning away from direct property management.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74%, Two-Star out of Four Star rating.
Providence Northstar Housing Development Fund Corporation received a score of 74%, which indicates a moderate level of organizational effectiveness based primarily on accountability and financial metrics. Notably, the organization has a good program expense ratio of 81.73%, reflecting a strong commitment to using funds for its mission-related activities. Furthermore, it has not experienced any material diversions of assets, suggesting a solid control over its financial practices.
However, there are significant concerns regarding the governance structure, specifically the lack of independent board members, which scored 0 out of 10 points. This absence may raise questions about the organization's oversight and potential conflicts of interest. Additionally, the nonprofit's website is missing important documents such as the tax form and other required disclosures, which may hinder transparency and accountability.
Despite these challenges, Providence Northstar has well-established policies in place, including conflict of interest and whistleblower policies. These strengths indicate a commitment to ethical management, although the overall governance and transparency issues need to be addressed for improvement in future evaluations.
This AI summary has been generated from information found on Charity Navigator.
Is Providence Northstar Housing Development Fund Corporation legitimate?
Providence Northstar Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Providence Northstar 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: $0
For more financial information, click here
What is the mission statement of Providence Northstar Housing Development Fund Corporation?
The Providence Northstar Housing Development Fund Corporation's mission is centered around providing quality, affordable housing for low-income families. During part of 2022, they successfully offered such housing to 11 families. However, it should be noted that all their existing low-income housing properties were liquidated in 2022. Despite this transition, their commitment to making housing affordable remains a key part of their mission.
Who is the CEO of Providence Northstar Housing Development Fund Corporation?
Dan Sturgis is the President of Providence Northstar Housing Development Fund Corporation.
What is the revenue of Providence Northstar Housing Development Fund Corporation?
Providence Northstar Housing Development Fund Corporation's revenue in 2022 was $45,728.
Who are the executives of Providence Northstar Housing Development Fund Corporation and what are their salaries?
There 3 volunteers at Providence Northstar Housing Development Fund Corporation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $71,528
- Other: $2,861
- Compensation: $0
- Related: $132,864
- Other: $13,315
- Compensation: $0
- Related: $141,895
- Other: $5,676
Where can I find the form 990 for Providence Northstar Housing Development Fund Corporation?
Providence Northstar Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Providence Northstar Housing Development Fund Corporation
Providence Northstar Housing Development Fund Corporation is dedicated to providing quality affordable housing solutions for low-income families. This organization's mission is to make a significant impact by offering affordable rental units to families in need. In the course of 2022, they successfully housed 11 families, offering them a secure and comfortable living space. Regrettably, all their existing low-income housing properties were liquidated during the same year. Despite this, Providence Northstar Housing Development Fund Corporation remains committed to its mission, continually seeking ways to expand and improve affordable housing options for those in need.
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Impact
August, 2024
Providence Northstar Housing Development Fund Corporation's impact can be seen through its provision of quality affordable rental housing to low income families in the City of Rochester. By operating 11 apartments specifically tailored for low income individuals, it has directly supported 11 families by offering them a place to call home in 2022. Despite the liquidation of all existing low income housing property in the same year, the organization has made a tangible difference by ensuring that these families had access to affordable and decent housing during their time of need. Overall, Providence Northstar's dedication to providing quality affordable housing contributes positively to the well-being and stability of low income families in the Rochester area.
This information is meant to be a general summary of Providence Northstar 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: $35,744
- Program Service Revenue: $9,980
- Gross Receipts: $279,984
Assets and Liabilities:
- Total Assets: $244,784
- Total Liabilities: $39,112
- Net Assets: $205,672
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income
Revenue
$9,980
Organization Details
Founding Year
2005
Phone
(585) 328-3210Principal Officer
Dan Sturgis
Main Address
1150 Buffalo Road, Rochester, NY, 14624
NTEE Category
Code: L21 - Housing
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