Overview
What is Cranbury Housing Associates?
Cranbury Housing Associates is a nonprofit organization that dedicates its efforts to providing affordable housing solutions. They oversee a senior housing facility, ensuring that rent does not exceed 30% of an individual's annual income, and offer subsidies to make it more accessible. Additionally, they manage a low-income housing development, requiring residents and buyers to meet specific income requirements. The organization's primary mission is to offer low-cost housing options, aiming to make housing more attainable for individuals with limited financial resources.
Official website here: www.cranburyhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Cranbury Housing Associates has received a two-star rating from Charity Navigator, indicating areas that require attention, particularly regarding financial transparency and governance policies. While the organization has demonstrated a strong program expense ratio of 99.68%, showcasing effective allocation of resources towards its mission, there are significant deficiencies in accountability practices.
The board of directors is composed entirely of independent members, reflecting a commitment to impartial governance. However, the absence of key policies such as a conflict of interest policy, a whistleblower policy, and a document retention policy raises concerns about organizational governance. Additionally, the lack of publicly available financial statements limits transparency for stakeholders.
Overall, while Cranbury Housing Associates excels in its programmatic efforts and maintains a solid independent board structure, the lack of essential governance policies and transparency measures detracts from its overall effectiveness and accountability. Addressing these issues could significantly enhance their rating and public confidence in the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Cranbury Housing Associates legitimate?
Cranbury Housing Associates is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cranbury Housing Associates 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
Official website here: www.cranburyhousing.org
What is the mission statement of Cranbury Housing Associates?
Cranbury Housing Associates is committed to providing affordable housing solutions. They manage a senior housing facility where rent is capped at 30% of an individual's annual income and is subsidized. Additionally, they oversee a low-income housing development, requiring renters and buyers to meet specific income requirements. The organization's mission is centered around this primary objective, which is to offer low-cost housing to those in need.
Official website here: www.cranburyhousing.org
Who is the CEO of Cranbury Housing Associates?
Mark Berkowsky is the President of Cranbury Housing Associates.
Official website here: www.cranburyhousing.org
What is the revenue of Cranbury Housing Associates?
Cranbury Housing Associates's revenue in 2022 was $1,072,030.
Official website here: www.cranburyhousing.org
Who are the executives of Cranbury Housing Associates and what are their salaries?
There 4 volunteers at Cranbury Housing Associates.
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Official website here: www.cranburyhousing.org
Where can I find the form 990 for Cranbury Housing Associates?
Cranbury Housing Associates's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cranburyhousing.org
Learn more at the official website: www.cranburyhousing.org
Mission Statement of Cranbury Housing Associates
Cranbury Housing Associates is dedicated to providing affordable housing solutions. The organization manages a senior housing facility where rent is capped at 30% of an individual's annual income, with subsidies ensuring affordability. Beyond this, Cranbury Housing Associates also oversees a low-income housing development, where both renters and buyers must meet specific income requirements. The organization's mission is crystal clear: it aims to make housing accessible and affordable for individuals with lower incomes. By offering these housing solutions, Cranbury Housing Associates contributes significantly to the well-being of its community, enabling people to live comfortably within their means.
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Impact
October, 2024
Cranbury Housing Associates provides essential low-cost housing solutions that significantly improve the quality of life for residents in Cranbury, NJ. By managing a 20-unit senior housing facility, the organization ensures that rent is capped at 30% of an individual's annual income, allowing seniors to allocate their limited resources more effectively. This critical support helps residents maintain financial stability while having access to safe and affordable living environments.
Furthermore, Cranbury Housing Associates oversees a low-income housing development that enforces income requirements, promoting inclusivity for those who may otherwise struggle to find sustainable housing options. By offering subsidized rental opportunities, the organization addresses systemic challenges faced by low-income individuals and families, thus fostering a stronger and more equitable community. The impact of their work resonates through improved living conditions and enhanced opportunities for residents to thrive.
This information is meant to be a general summary of Cranbury Housing Associates. 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: $196
- Program Service Revenue: $1,067,505
- Gross Receipts: $1,072,030
Assets and Liabilities:
- Total Assets: $8,142,205
- Total Liabilities: $4,237,576
- Net Assets: $3,904,629
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Low income residential
Revenue
$1,067,505
Organization Details
Phone
(609) 786-1102Principal Officer
Mark Berkowsky
Main Address
PO Box 603, Cranbury, NJ, 08512
Website
www.cranburyhousing.orgNTEE Category
Code: L210 - Housing
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