Overview
What is Housing Development Corporation Of Bergen County?
The Housing Development Corporation of Bergen County is a nonprofit organization situated in Hackensack, New Jersey. Their primary mission is to offer affordable housing solutions for senior and handicapped individuals, providing a vital service within their community. Based at ONE BERGEN COUNTY PLAZA 2ND FLOOR, the organization has a small team of dedicated professionals, with a total of 1 employee, working tirelessly to achieve their goal. Their operation encompasses the provision of affordable housing units, aiming to improve the living conditions and quality of life for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating 90% - Four-Star out of Four Star rating
The Housing Development Corporation Of Bergen County has received a commendable Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and finance. The overall score is entirely derived from the organization's exceptional performance in managing its financial resources effectively, demonstrating transparency and responsible governance practices.
Key strengths include a fully independent board, with all eight members meeting the independence criteria, and a robust set of financial oversight mechanisms. The organization has consistently shown no material diversion of assets and adheres to established policies regarding conflicts of interest and whistleblower protections, which enhance its credibility and trustworthiness.
In terms of financial health, the corporation maintains a favorable liabilities to assets ratio and allocates a significant portion of its expenses directly to programs, indicating that the majority of funds are utilized for their intended missions. While specific challenges or limitations are not noted, the high program expense ratio suggests a strong focus on impact rather than administrative costs.
This AI summary has been generated from information found on Charity Navigator.
Is Housing Development Corporation Of Bergen County legitimate?
Housing Development Corporation Of Bergen County is a legitimate nonprofit organization registered as a 501(c)(3) entity. Housing Development Corporation Of Bergen County 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: $1,247,371
For more financial information, click here
What is the mission statement of Housing Development Corporation Of Bergen County?
The Housing Development Corporation of Bergen County's mission is centered around providing affordable housing opportunities. Specifically, their focus is on senior and individuals with disability, aiming to enhance their living situations. This is achieved through the operation of affordable housing units, ensuring these groups have access to comfortable and suitable homes. The corporation's goal is to contribute positively to the well-being of these vulnerable communities, providing them with a decent living space.
What is the revenue of Housing Development Corporation Of Bergen County?
Housing Development Corporation Of Bergen County's revenue in 2024 was $7,875,030.
Who are the executives of Housing Development Corporation Of Bergen County and what are their salaries?
The average compensation at Housing Development Corporation Of Bergen County during 2024 was $1,247,371. There is 1 employee at Housing Development Corporation Of Bergen County.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $30,000
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Housing Development Corporation Of Bergen County?
Housing Development Corporation Of Bergen County's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Housing Development Corporation Of Bergen County
Housing Development Corporation of Bergen County is dedicated to providing affordable housing solutions for senior and handicapped citizens. This mission is carried out through the operation of affordable housing units specifically designed for these individuals. The corporation's primary goal is to ensure that these vulnerable groups have access to safe and suitable living environments, thereby enhancing their quality of life. By providing affordable housing, the corporation aims to alleviate the financial burden associated with housing costs, allowing these individuals to focus on other aspects of their lives. The corporation's commitment to senior and handicapped citizens is a testament to its dedication to promoting social equality and inclusivity in housing.
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Impact
October, 2024
Housing Development Corporation Of Bergen County plays a crucial role in addressing the housing needs of senior and handicapped citizens in Hackensack, NJ. By operating affordable housing units specifically designed for these vulnerable populations, it fosters an inclusive community where individuals can live independently and with dignity.
The organization actively contributes to reducing housing instability and homelessness among seniors and individuals with disabilities, ensuring they have access to safe and affordable living options. This not only enhances their quality of life but also promotes social cohesion within the community.
Furthermore, by providing such housing solutions, the corporation helps alleviate the financial burden often faced by low-income seniors and handicapped individuals, enabling them to allocate their limited resources towards healthcare, nutrition, and other essential needs. This holistic approach supports the well-being and self-sufficiency of residents, ultimately enriching the broader Bergen County community.
This information is meant to be a general summary of Housing Development Corporation Of Bergen County. 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 2024.
- Investment Income: $406,058
- Program Service Revenue: $4,252,428
- Gross Receipts: $7,875,030
Assets and Liabilities:
- Total Assets: $45,424,195
- Total Liabilities: $10,797,176
- Net Assets: $34,627,019
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM RENTAL INCOME
Revenue
$3,276,849
OTHER TENANT INCOME
Revenue
$542,167
DEVELOPER FEE INCOME
Revenue
$433,412
Organization Details
Founding Year
1978
Principal Officer
Lynn Bartlett
NTEE Category
Code: L20 - Housing
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