Overview
What is Senior Citizens Housing Corporation Of The Borough Of Freehold?
The Senior Citizens Housing Corporation of the Borough of Freehold is a nonprofit organization situated in Freehold, New Jersey. Its primary mission is to provide affordable housing for individuals with low to moderate incomes. This is achieved through the operation of a 164-unit apartment building, which is financially supported by both the U.S. Department of Housing and Urban Development (HUD) and the New Jersey Housing and Mortgage Finance Agency (NJHMFA). The corporation additionally offers assistance under the Federal Section 8 Subsidy Program, further enhancing its commitment to making housing accessible for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
The Senior Citizens Housing Corporation of the Borough of Freehold has achieved an impressive Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. Their score is entirely based on their Accountability & Finance metrics, which reflects the organization's commitment to transparency and effective use of resources in serving their mission.
The nonprofit's strengths lie in its governance and financial practices. With a fully independent board, robust financial oversight, and a strong program expense ratio of 80.29%, they demonstrate a commitment to utilizing the majority of their funds towards their programs. Furthermore, the organization has established clear policies regarding conflicts of interest and whistleblowing, showcasing a proactive approach to ethical governance.
While the organization excels in accountability, ongoing evaluations of program effectiveness and community impact could enhance their overall assessment. However, the current data suggests that the Senior Citizens Housing Corporation is well-managed and dedicated to serving the needs of senior citizens in their community.
This AI summary has been generated from information found on Charity Navigator.
Is Senior Citizens Housing Corporation Of The Borough Of Freehold legitimate?
Senior Citizens Housing Corporation Of The Borough Of Freehold is a legitimate nonprofit organization registered as a 501(c)(3) entity. Senior Citizens Housing Corporation Of The Borough Of Freehold 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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Professional Fundraising Fees: $0
Other Salaries and Wages: $367,885
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What is the mission statement of Senior Citizens Housing Corporation Of The Borough Of Freehold?
The Senior Citizens Housing Corporation's mission is centered around providing affordable housing solutions for individuals with moderate and low incomes. This is accomplished through their participation in the Federal Section 8 Subsidy Program. The organization's primary activity involves operating a 164-unit apartment building where rent is subsidized by both the U.S. Department of Housing and Urban Development (HUD) and the New Jersey Housing and Mortgage Finance Agency (NJHMFA). By offering subsidized housing, the corporation aims to make living accommodations more accessible and affordable for those in need.
Who is the CEO of Senior Citizens Housing Corporation Of The Borough Of Freehold?
James Nolan Higgins is the Director of Senior Citizens Housing Corporation Of The Borough Of Freehold.
What is the revenue of Senior Citizens Housing Corporation Of The Borough Of Freehold?
Senior Citizens Housing Corporation Of The Borough Of Freehold's revenue in 2022 was $2,738,689.
Who are the executives of Senior Citizens Housing Corporation Of The Borough Of Freehold and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Senior Citizens Housing Corporation Of The Borough Of Freehold?
Senior Citizens Housing Corporation Of The Borough Of Freehold's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Senior Citizens Housing Corporation Of The Borough Of Freehold
Senior Citizens Housing Corporation, a dedicated nonprofit organization, is committed to providing affordable housing solutions for individuals with moderate and low incomes. This mission is carried out through the operation of a 164-unit apartment building, where housing is subsidized by both the U.S. Department of Housing and Urban Development (HUD) and the New Jersey Housing and Mortgage Finance Agency (NJHMFA). The organization's primary goal is to ensure that housing remains accessible and affordable for those in need, contributing to a more equitable living environment.
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Impact
October, 2024
Senior Citizens Housing Corporation of the Borough of Freehold has a significant impact on the community by providing low and moderate-income housing options for seniors. With a 164-unit apartment building that offers rent subsidized by HUD and the New Jersey Housing and Mortgage Finance Agency, the organization plays a crucial role in addressing housing insecurity among elderly residents.
By enabling access to affordable housing, the organization enhances the quality of life for seniors, allowing them to live independently while ensuring their financial stability. This support helps alleviate the burden of high living costs, thereby promoting better health and wellbeing. Additionally, the assistance under the Federal Section 8 subsidy program further amplifies the corporation's mission by making housing more accessible to those in need.
Overall, the efforts of the Senior Citizens Housing Corporation foster a more inclusive community in Freehold, where seniors can thrive in a supportive environment tailored to their needs.
This information is meant to be a general summary of Senior Citizens Housing Corporation Of The Borough Of Freehold. 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: $166,949
- Program Service Revenue: $2,565,954
- Gross Receipts: $2,807,739
Assets and Liabilities:
- Total Assets: $12,661,109
- Total Liabilities: $397,412
- Net Assets: $12,263,697
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT INCOME
Revenue
$2,565,954
Organization Details
Founding Year
1975
Phone
(732) 741-4880Principal Officer
James Nolan Higgins
Main Address
40 HUDSON STREET, FREEHOLD, NJ, 07726
NTEE Category
Code: L22 - Housing
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