Overview
What is The Riese St Mary's Corporation?
The Riese St. Mary's Corporation is a nonprofit organization situated in Passaic, New Jersey, with a specific mission to provide affordable housing for low-income senior citizens and individuals with disabilities. Established at 200 Pennington Avenue, this organization has contributed significantly to the community by offering 39 one-bedroom and 56 two-bedroom apartments. The project, located in Passaic, NJ, operates under Section 202 of the National Housing Act, ensuring its regulations and rental charges are overseen by the US Department of Housing and Urban Development (HUD). The Riese St. Mary's Corporation strives to improve the living conditions of its residents, providing them with a secure and comfortable environment. With a team of five dedicated individuals, the organization's commitment to enhancing the lives of its residents is evident.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Stars)
The Riese St Mary's Corporation has received a Three-Star rating from Charity Navigator, reflecting a strong focus on accountability and finance. With a score of 86% in these areas, the organization exhibits solid management practices, evidenced by a fully independent board and excellent handling of financial statements. They have shown no material diversion of assets and maintain a clear conflict of interest policy, which enhances their transparency.
The organization demonstrates a high commitment to program expenses, allocating 91.75% of its resources directly to its programs. This indicates a strong dedication to fulfilling its mission and providing services to the community. Additionally, their low liabilities to assets ratio of 22.55% suggests a stable financial footing, which is reassuring for potential donors and stakeholders.
While the overall rating is positive, there are no specific mentions of programmatic outcomes or impact data in the available feedback. This could be an area for improvement, as understanding the effectiveness of their programs is essential for a comprehensive evaluation of their impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is The Riese St Mary's Corporation legitimate?
The Riese St Mary's Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Riese St Mary's 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: $95,338
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What is the mission statement of The Riese St Mary's Corporation?
The Riese St Mary's Corporation is dedicated to providing affordable housing for low-income senior citizens and individuals with disabilities. They operate a 95-unit apartment project, which is regulated by the US Department of Housing and Urban Development (HUD), and their rental charges and operating methods are governed by HUD's guidelines. The corporation offers a mix of one-bedroom and two-bedroom apartments, with 39 of each type available. Their mission is to contribute to the well-being of this vulnerable group by providing them with a suitable living space.
Who is the CEO of The Riese St Mary's Corporation?
Msgr Herbert K Tillyer is the Principal Officer of The Riese St Mary's Corporation.
What is the revenue of The Riese St Mary's Corporation?
The Riese St Mary's Corporation's revenue in 2022 was $1,541,112.
Who are the executives of The Riese St Mary's Corporation and what are their salaries?
The average compensation at The Riese St Mary's Corporation during 2022 was $19,068. There are 5 employees at The Riese St Mary's Corporation.
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Where can I find the form 990 for The Riese St Mary's Corporation?
The Riese St Mary's Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Riese St Mary's Corporation
The Riese St. Mary's Corporation is dedicated to providing affordable housing for low-income senior citizens and individuals with disabilities. This nonprofit organization operates under Section 202 of the National Housing Act and is regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rental charges and operational methods. The corporation offers a variety of apartment units, including 39 one-bedroom and 56 two-bedroom units, catering to the needs of its elderly and handicapped residents. The mission of The Riese St. Mary's Corporation is to create a safe and supportive living environment where these individuals can thrive and maintain their independence.
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Impact
October, 2024
The Riese St Mary's Corporation significantly impacts the community by providing affordable housing for low-income senior citizens and handicapped individuals in Passaic, NJ. Through a 95-unit apartment project, the corporation addresses a critical need for accessible living spaces tailored to the elderly, with a mix of 39 one-bedroom and 56 two-bedroom apartments. This initiative not only enhances the quality of life for residents by offering safe and supportive housing but also fosters a sense of community among its occupants.
Operating under Section 202 of the National Housing Act and regulated by the U.S. Department of Housing and Urban Development (HUD), the project ensures that rental charges remain affordable, contributing to financial stability for low-income seniors. By focusing on the housing needs of this vulnerable population, The Riese St Mary's Corporation plays a vital role in promoting dignity and independence for aging individuals, ultimately influencing the overall well-being of the Passaic community.
This information is meant to be a general summary of The Riese St Mary's 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: $4,363
- Program Service Revenue: $1,533,346
- Gross Receipts: $1,541,112
Assets and Liabilities:
- Total Assets: $3,770,449
- Total Liabilities: $850,254
- Net Assets: $2,920,195
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME - SENIOR
Revenue
$1,533,346
Organization Details
Founding Year
1979
Phone
(973) 778-0430Principal Officer
Msgr Herbert K Tillyer
Main Address
200 PENNINGTON AVENUE, PASSAIC, NJ, 07055
NTEE Category
Code: L22Z - Housing
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