Overview
What is Italian-American Housing Development Fund Company Inc?
Italian-American Housing Development Fund Company Inc is a nonprofit organization situated in Watervliet, New York. Its primary mission is to offer affordable housing solutions for the elderly, specifically operating and maintaining a 50-unit complex under the National Housing Act's Section 202. This mission is facilitated through a subsidy contract with the U.S. Department of Housing and Urban Development. By managing this complex, the organization ensures the elderly residents have a safe and comfortable living environment.
Official website here: www.rcda.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
The Italian-American Housing Development Fund Company Inc has received an overall score of 81%, primarily reflecting its strong performance in the Accountability & Finance category. This score indicates a solid level of transparency and effective financial management, which are essential factors for donor confidence. The nonprofit demonstrates a commitment to ethical governance, as evidenced by its independent board composition and comprehensive policies on conflict of interest and whistleblowing.
Strengths include a fully independent board with a majority of members, high scores in various oversight metrics such as the audit and oversight committee, and effective documentation practices. The organization has also reported no material diversion of assets, which adds to its credibility and reliability as a nonprofit. Additionally, a commendable program expense ratio of 75.55% suggests that a significant portion of funds is directed towards its core mission.
While the data showcases a robust financial management framework, further details about the organization's programmatic impact and outreach efforts would provide a more complete picture of its effectiveness. Overall, the Italian-American Housing Development Fund Company Inc demonstrates a commendable level of accountability, making it a trustworthy option for potential donors.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Italian-American Housing Development Fund Company Inc?
74% of reviewers recommend the Italian-American Housing Development Fund Company Inc according to Facebook. Here is a summary of their reviews:
The overall sentiment towards the organization seems mixed. While a majority of users express support for its initiatives, some individuals have raised serious concerns regarding broader issues connected to the organization, leading to dissatisfaction. One particularly critical review mentions troubling allegations involving church authorities that overshadow the nonprofit's mission and effectiveness.
Despite these severe accusations, the nonprofit continues to receive backing from those who appreciate its efforts in the community. For many, the services are seen as valuable and beneficial, indicating a fundamental commitment to its cause, although the negative views highlight significant issues that may impact its reputation.
This AI summary has been generated from reviews found on Facebook.
Is Italian-American Housing Development Fund Company Inc legitimate?
Italian-American Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Italian-American Housing Development Fund Company 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: $81,668
For more financial information, click here
Official website here: www.rcda.org
What is the mission statement of Italian-American Housing Development Fund Company Inc?
The Italian-American Housing Development Fund Company Inc focuses on providing affordable housing solutions for the elderly. They accomplish this by maintaining and operating a 50-unit complex, situated in Watervliet, New York, under Section 202 of the National Housing Act. This initiative is backed by a contract with the U.S. Department of Housing and Urban Development, ensuring ongoing subsidies for the project. The organization's primary objective is to offer a secure and comfortable living environment for the elderly, ensuring they can age with dignity and independence.
Official website here: www.rcda.org
Who is the CEO of Italian-American Housing Development Fund Company Inc?
Noel Olsen is the Member of Italian-American Housing Development Fund Company Inc.
Official website here: www.rcda.org
What is the revenue of Italian-American Housing Development Fund Company Inc?
Italian-American Housing Development Fund Company Inc's revenue in 2023 was $516,944.
Official website here: www.rcda.org
Who are the executives of Italian-American Housing Development Fund Company Inc and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.rcda.org
Where can I find the form 990 for Italian-American Housing Development Fund Company Inc?
Italian-American Housing Development Fund Company Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.rcda.org
Learn more at the official website: www.rcda.org
Mission Statement of Italian-American Housing Development Fund Company Inc
The Italian-American Housing Development Fund Company is dedicated to providing affordable housing solutions for the elderly. This nonprofit organization achieves this mission by maintaining and operating a 50-unit complex situated in Watervliet, New York, under the provisions of section 202 of the National Housing Act. The company's operations are supported by a contract with the U.S. Department of Housing and Urban Development, ensuring that the elderly residents can reside in a secure and comfortable environment. By providing this essential service, the Italian-American Housing Development Fund Company contributes to enhancing the living standards of the elderly population, enabling them to age with dignity and independence.
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Impact
July, 2024
Italian-American Housing Development Fund Company Inc's impact can be clearly seen in its provision of low-income housing for the elderly in Watervliet, New York. By maintaining and operating a 50-unit complex under section 202 of the National Housing Act, this organization ensures that elderly individuals have a safe and affordable place to call home. Through its partnership with the U.S. Department of Housing and Urban Development, Italian-American Housing Development Fund Company Inc plays a vital role in addressing the housing needs of a vulnerable population. Its dedication to this cause demonstrates a commitment to improving the quality of life for elderly residents in the community.
This information is meant to be a general summary of Italian-American Housing Development Fund Company 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 2023.
- Investment Income: $655
- Program Service Revenue: $199,601
- Gross Receipts: $516,944
Assets and Liabilities:
- Total Assets: $1,455,822
- Total Liabilities: $2,361,405
- Net Assets: -$905,583
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENT & CHARGES
Revenue
$199,601
Organization Details
Founding Year
1991
Phone
(518) 459-0183Principal Officer
Noel Olsen
Main Address
4 CARONDELET DRIVE, WATERVLIET, NY, 12189
Website
www.rcda.orgNTEE Category
Code: L22Z - Housing
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