Overview
What is The Riese Corporation?
The Riese Corporation, based in Paterson, New Jersey, is a nonprofit organization dedicated to providing affordable housing for low-income senior citizens and individuals with disabilities. They manage two apartment projects under Section 202 of the National Housing Act, with a total of 318 units. Regulated by the U.S. Department of Housing and Urban Development (HUD), the corporation ensures rental charges and operating methods adhere to established guidelines, ensuring these essential living spaces remain accessible and affordable for their intended residents. With a workforce of 11 individuals, The Riese Corporation continues its mission to enhance the quality of life for this vulnerable population.
Is The Riese Corporation legitimate?
The Riese Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. The Riese 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:
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Other Salaries and Wages: $511,282
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What is the mission statement of The Riese Corporation?
The Riese Corporation's mission is centered around providing affordable housing for senior citizens and individuals with disabilities. They manage two apartment projects, comprising a total of 159 units, under Section 202 of the National Housing Act. The corporation is regulated by the U.S. Department of Housing and Urban Development (HUD), which oversees the rental charges and operational methods of these projects. The primary objective of The Riese Corporation is to offer housing for low-income seniors and disabled individuals, providing a total of 318 units across these projects.
Who is the CEO of The Riese Corporation?
Monsignor Herbert K Till is the Principal Officer of The Riese Corporation.
What is the revenue of The Riese Corporation?
The Riese Corporation's revenue in 2022 was $4,083,626.
Who are the executives of The Riese Corporation and what are their salaries?
The average compensation at The Riese Corporation during 2022 was $46,480. There are 11 employees at The Riese Corporation.
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Where can I find the form 990 for The Riese Corporation?
The Riese Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Riese Corporation
The Riese Corporation, as a nonprofit organization, is dedicated to providing affordable housing for low-income senior citizens and individuals with disabilities. With a mission to cater to this specific demographic, The Riese Corporation manages two apartment projects in New Jersey, each featuring 159 units. These projects operate under Section 202 of the National Housing Act and are overseen by the U.S. Department of Housing and Urban Development (HUD), which regulates the rental charges and operating methods. The Riese Corporation, consequently, provides 318 units in total, ensuring that elderly and handicapped individuals have access to safe and affordable housing.
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Impact
October, 2024
The Riese Corporation significantly impacts the community by providing essential housing for low-income senior citizens and individuals with disabilities in Paterson, NJ. By managing two apartment projects comprising a total of 318 units, The Riese Corporation addresses a critical need for affordable living options among vulnerable populations. These projects operate under Section 202 of the National Housing Act, ensuring that rental charges and operating methods are regulated by the U.S. Department of Housing and Urban Development (HUD), which promotes transparency and affordability.
The provision of safe and accessible housing not only enhances the quality of life for its residents but also fosters community stability. By catering specifically to the elderly and handicapped, The Riese Corporation plays a vital role in creating a supportive environment that enables residents to maintain their independence while having access to necessary services and amenities. This commitment to low-income housing contributes to the overall well-being of the Paterson community, making it a crucial entity in the local landscape.
This information is meant to be a general summary of The Riese 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: $2,446
- Program Service Revenue: $4,036,180
- Gross Receipts: $4,083,626
Assets and Liabilities:
- Total Assets: $6,597,958
- Total Liabilities: $1,286,013
- Net Assets: $5,311,945
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$4,036,180
Organization Details
Founding Year
1963
Phone
(973) 279-0964Principal Officer
Monsignor Herbert K Till
Main Address
225 20TH AVENUE, PATERSON, NJ, 075013757
NTEE Category
Code: L22 - Housing
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