Overview
What is Martin De Porres Village Inc?
Martin De Porres Village Inc is a nonprofit organization situated in Paterson, New Jersey. Their primary mission is to provide affordable housing for 143 families within the city. By operating a low-income housing project, they aim to address the housing needs of this community, covering all expenses related to the project within their operational costs. This initiative contributes to the overall well-being of the families residing in the area by providing them with a secure and affordable home.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Stars)
Martin De Porres Village Inc has received a Three-Star rating from Charity Navigator, reflecting a solid commitment to accountability and financial management. With an overall score of 86%, the organization demonstrates strong oversight, highlighted by its 100% independent board members and excellent financial audit results. These factors contribute to a reputation for transparency and responsible governance.
The nonprofit excels in its program expense ratio, utilizing 89.45% of its funds for programmatic efforts, which indicates a strong focus on its mission and effective allocation of resources. Additionally, there are no reported issues related to material diversion of assets, showcasing a commitment to ethical practices and financial integrity. The implementation of a conflict of interest policy further enhances its credibility.
While the organization has shown considerable strengths in its financial and operational practices, potential donors and supporters may look for additional information about its programs and impact to fully assess the effectiveness of its initiatives. Nonetheless, the high scores across various accountability indicators suggest that Martin De Porres Village Inc is a trustworthy and effective nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Martin De Porres Village Inc legitimate?
Martin De Porres Village Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Martin De Porres Village Inc 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: $343,691
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What is the mission statement of Martin De Porres Village Inc?
Martin De Porres Village Inc is committed to operating a low-income housing project that provides affordable living spaces for 143 families. Their mission is centered around making housing accessible for those in need, ensuring financial feasibility through the inclusion of all operational expenses in their rental costs. This organization's primary focus is on operating a housing project that caters to families in need, providing them with a secure and affordable place to call home.
Who is the CEO of Martin De Porres Village Inc?
Msgr Herbert K Tillyer is the Principal Officer of Martin De Porres Village Inc.
What is the revenue of Martin De Porres Village Inc?
Martin De Porres Village Inc's revenue in 2022 was $3,002,261.
Who are the executives of Martin De Porres Village Inc and what are their salaries?
The average compensation at Martin De Porres Village Inc during 2022 was $38,188. There are 9 employees at Martin De Porres Village Inc.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Martin De Porres Village Inc?
Martin De Porres Village Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Martin De Porres Village Inc
Martin De Porres Village Inc is committed to operating a low-income housing project, providing affordable living spaces for 143 families. Their mission revolves around managing this project effectively, ensuring that it serves as a reliable housing solution for those in need. They meticulously cover all associated expenses, incorporating them into their annual rental expenses, as indicated in their financial reports. In essence, Martin De Porres Village Inc plays a crucial role in making housing affordable, thereby contributing to the well-being of numerous families.
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Impact
October, 2024
Martin De Porres Village Inc has made a significant impact by providing affordable housing for 143 families in Paterson, New Jersey. This initiative addresses critical housing needs in the community, offering a stable living environment for low-income residents. By operating a low-income housing project, the organization not only enhances the quality of life for its residents but also fosters a sense of community and belonging. The availability of affordable housing plays a crucial role in alleviating the challenges faced by low-income families, allowing them to focus on other essential aspects of life such as education and employment. Overall, Martin De Porres Village Inc serves as a vital resource, promoting social equity and stability in the region.
This information is meant to be a general summary of Martin De Porres Village Inc. 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: $40,095
- Program Service Revenue: $2,950,495
- Gross Receipts: $3,002,261
Assets and Liabilities:
- Total Assets: $8,615,178
- Total Liabilities: $158,977
- Net Assets: $8,456,201
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT - LOW INCOME HOUS
Revenue
$2,950,495
Organization Details
Founding Year
1980
Phone
(973) 777-8818Principal Officer
Msgr Herbert K Tillyer
Main Address
1 GREEN STREET, PATERSON, NJ, 07051
NTEE Category
Code: L20 - Housing
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