Overview
What is Fac Restore Housing Development Fund Corporation?
Fac Restore Housing Development Fund Corporation is a nonprofit organization situated in Brooklyn, New York, specifically at 621 Degraw Street. Their primary mission is to provide housing for low-income individuals, operating five apartment buildings in the area. During the year, these buildings were occupied, accommodating a total of 31 residents. The organization's purpose is to contribute positively to the community by offering suitable housing solutions for qualified individuals who may be economically disadvantaged.
Is Fac Restore Housing Development Fund Corporation legitimate?
Fac Restore Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Fac Restore 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
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What is the mission statement of Fac Restore Housing Development Fund Corporation?
The Fac Restore Housing Development Fund Corporation's mission is centered around owning and managing five apartment buildings. These buildings are specifically designed to provide housing for qualified low-income individuals. The organization's primary objective is to serve this particular demographic, ensuring they have access to suitable living spaces. During the year, these apartment buildings, with a capacity of 31 residential units, were occupied.
Who is the CEO of Fac Restore Housing Development Fund Corporation?
Dany Cunningham is the President of Fac Restore Housing Development Fund Corporation.
What is the revenue of Fac Restore Housing Development Fund Corporation?
Fac Restore Housing Development Fund Corporation's revenue in 2023 was $482,782.
Who are the executives of Fac Restore Housing Development Fund Corporation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $233,154
- Other: $10,691
- Compensation: $0
- Related: $133,888
- Other: $35,101
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Fac Restore Housing Development Fund Corporation?
Fac Restore Housing Development Fund Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Fac Restore Housing Development Fund Corporation
Fac Restore Housing Development Fund Corporation is committed to a mission that involves owning and managing five apartment buildings, providing housing for qualified low-income individuals. This organization operates in the Brooklyn, New York area, with a focus on providing affordable living solutions for those in need. During the year, these apartment buildings, which have a total capacity of 31 residential units, were occupied. The mission of Fac Restore Housing Development Fund Corporation is centered around offering a safe and secure living environment for individuals who fall under the low-income category, thereby contributing to the well-being of the community.
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Impact
October, 2024
Fac Restore Housing Development Fund Corporation significantly impacts the Brooklyn community by providing stable housing for qualified low-income individuals. By owning and operating five apartment buildings with a combined capacity of 31 residential apartments, the organization addresses the critical need for affordable housing in a city where housing costs are increasingly prohibitive.
The residents of these buildings benefit from a secure living environment that fosters community resilience, allowing them to focus on improving their quality of life without the stress of housing insecurity. This initiative not only enhances the welfare of individual tenants but also contributes to the overall economic stability of the neighborhood by promoting a diverse and inclusive community. The organization plays a crucial role in ensuring that vulnerable populations have access to safe and affordable housing options in Brooklyn, thereby fostering long-term positive outcomes for both individuals and the broader community.
This information is meant to be a general summary of Fac Restore 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 2023.
- Investment Income: $382
- Program Service Revenue: $477,148
- Gross Receipts: $482,782
Assets and Liabilities:
- Total Assets: $3,553,659
- Total Liabilities: $5,006,558
- Net Assets: -$1,452,899
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$477,148
Organization Details
Founding Year
2005
Phone
(718) 237-2017Principal Officer
Dany Cunningham
Main Address
621 DEGRAW STREET, BROOKLYN, NY, 11217
NTEE Category
Code: L40 - Housing
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