Overview
What is Hollow Road Development Corporation?
Hollow Road Development Corporation is a nonprofit organization committed to addressing the housing needs of individuals with disabilities. Their primary mission is to provide low-income housing solutions, specifically offering four units under Section 811. Each unit is eligible for rental assistance, ensuring affordable living for those in need. The corporation's initiatives align with the goal of enhancing the quality of life for disabled individuals by offering them suitable housing options.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Hollow Road Development Corporation has received a Three-Star rating from Charity Navigator, with an overall score of 79%. This rating reflects the organization's strong performance in the area of Accountability & Finance, which constitutes the sole basis of its score. The charity has demonstrated commendable practices, such as maintaining a fully independent board and having no material diversions of assets.
The organization excels in having a comprehensive conflict of interest policy, whistleblower protections, and proper document retention practices, all of which contribute positively to its accountability measures. The program expense ratio is also impressive at 71.63%, indicating a strong commitment to its mission through effective program spending. However, a significant concern arises from the high liabilities to assets ratio of 135.35%, which may imply potential financial risks.
Overall, while Hollow Road Development Corporation shows solid governance and financial accountability, the high liabilities relative to its assets may warrant further scrutiny by potential donors and stakeholders. As such, potential supporters should consider both its strengths and the financial management challenges when evaluating their contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Hollow Road Development Corporation legitimate?
Hollow Road Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hollow Road Development 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: $4,477
For more financial information, click here
What is the mission statement of Hollow Road Development Corporation?
Hollow Road Development Corporation is committed to providing low-income housing for individuals with disabilities. As part of its mission, the corporation offers four units under Section 811, each of which is eligible for rental assistance. The organization's goal is to enhance the living conditions of disabled individuals by offering them affordable housing options. By doing so, Hollow Road Development Corporation aims to contribute to a more inclusive and accessible society for people with disabilities. The corporation's efforts in this area help to address the housing needs of a vulnerable population, thereby improving their quality of life.
Who is the CEO of Hollow Road Development Corporation?
David Cianflone is the President of Hollow Road Development Corporation.
What is the revenue of Hollow Road Development Corporation?
Hollow Road Development Corporation's revenue in 2023 was $40,928.
Who are the executives of Hollow Road Development Corporation and what are their salaries?
There 3 volunteers at Hollow Road Development Corporation.
Here are 3 key members and their salaries:
- 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 Hollow Road Development Corporation?
Hollow Road Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Hollow Road Development Corporation
Hollow Road Development Corporation is a nonprofit organization dedicated to providing low-income housing for individuals with disabilities. With a mission to make a significant impact, this corporation offers four units specifically designed for this population group under Section 811. Each of these units is eligible for rental assistance, ensuring that the cost of housing remains affordable for the tenants. By supplying such housing, Hollow Road Development Corporation contributes to improving the living conditions and overall well-being of individuals with disabilities, enabling them to live with greater independence and dignity.
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Impact
August, 2024
Hollow Road Development Corporation's impact lies in providing much-needed low-income housing for the disabled in Pittsfield, MA. Through their efforts, they offer four units under section 811, each of which is eligible for rental assistance. By addressing the housing needs of this vulnerable population, the organization plays a crucial role in supporting the well-being and quality of life of disabled individuals facing financial challenges.
This information is meant to be a general summary of Hollow Road Development 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 2023.
- Investment Income: $47
- Program Service Revenue: $40,881
- Gross Receipts: $40,928
Assets and Liabilities:
- Total Assets: $655,819
- Total Liabilities: $887,653
- Net Assets: -$231,834
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROJECT RENTAL ASSISTANCE
Revenue
$23,535
RENTAL INCOME
Revenue
$17,346
Organization Details
Founding Year
2005
Phone
(413) 499-4241Principal Officer
David Cianflone
Main Address
395 SOUTH STREET, PITTSFIELD, MA, 01201
NTEE Category
Code: L20 - Housing
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