Overview
What is Rome Mall Housing Development Fund Company Inc?
Rome Mall Housing Development Fund Company Inc is a nonprofit organization, situated in Syracuse, New York, with the primary mission of developing, owning, and managing a low-income housing project under Section 202 of the National Housing Act and Article XI of New York's Private Housing Finance Law. The company, with a small workforce of 5 employees, operates a 44-unit project dedicated to providing affordable housing options for individuals with limited income. Their nonprofit nature allows them to serve this community effectively, ensuring housing accessibility and fostering a sense of community.
Official website here: www.christopher-community.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating.
The Rome Mall Housing Development Fund Company Inc has received an 81% score, which translates to a Three-Star rating. This score is entirely derived from its Accountability & Finance metrics, indicating a strong emphasis on financial practices and transparency. The organization has demonstrated a solid structure with 100% independent board membership, ensuring that governance is free from conflicts of interest.
Strengths highlighted in the review include perfect scores in critical categories such as financial audits, material diversion of assets, and adherence to conflict of interest policies. With a program expense ratio of 86.70%, the organization effectively directs a significant portion of its resources to its programs, which is a positive indicator of its operational efficiency.
However, a limitation noted is the liabilities to assets ratio, which stands at 92.97%, suggesting that the organization may have high liabilities in relation to its assets. This could be a concern for potential donors or stakeholders as it indicates financial risk. Overall, while the organization showcases robust financial practices, the high liability ratio warrants further scrutiny.
This AI summary has been generated from information found on Charity Navigator.
Is Rome Mall Housing Development Fund Company Inc legitimate?
Rome Mall Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rome Mall 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: $100,571
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.christopher-community.org
What is the mission statement of Rome Mall Housing Development Fund Company Inc?
The Rome Mall Housing Development Fund Company Inc was established with a specific purpose. This purpose, as outlined in its mission, is to develop, manage, and operate a low-income housing project on a non-profit basis. This mission is in line with Section 202 of the National Housing Act and Article XI of the Private Housing Finance Law of New York State. The company's primary objective is to provide affordable housing for individuals with low income, operating its 44-unit project in a non-profit manner.
Official website here: www.christopher-community.org
Who is the CEO of Rome Mall Housing Development Fund Company Inc?
John Reade is the President of Rome Mall Housing Development Fund Company Inc.
Official website here: www.christopher-community.org
What is the revenue of Rome Mall Housing Development Fund Company Inc?
Rome Mall Housing Development Fund Company Inc's revenue in 2022 was $517,604.
Official website here: www.christopher-community.org
Who are the executives of Rome Mall Housing Development Fund Company Inc and what are their salaries?
The average compensation at Rome Mall Housing Development Fund Company Inc during 2022 was $20,114. There are 5 employees at Rome Mall Housing Development Fund Company Inc.
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.christopher-community.org
Where can I find the form 990 for Rome Mall Housing Development Fund Company Inc?
Rome Mall Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.christopher-community.org
Learn more at the official website: www.christopher-community.org
Mission Statement of Rome Mall Housing Development Fund Company Inc
Rome Mall Housing Development Fund Company Inc, a non-profit organization, was established with a singular focus: to develop, manage, and operate a low-income housing project. Following the guidelines set by Section 202 of the National Housing Act and Article XI of the Private Housing Finance Law of New York, this corporation is dedicated to providing affordable housing solutions for individuals in need. The organization's mission is to operate a 44-unit low-income housing project on a non-profit basis, ensuring that those who require such accommodations have access to safe and comfortable living spaces. By adhering to these principles, Rome Mall Housing Development Fund Company Inc seeks to make a positive impact in the lives of its residents, contributing to a more equitable and inclusive community.
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Impact
July, 2024
Rome Mall Housing Development Fund Company Inc's impact is evident in the operation of a 44-unit low-income housing project in Syracuse, NY. This initiative directly addresses the critical need for affordable housing in the community, offering a stable and secure living environment for individuals and families facing financial challenges. Through the provision of affordable housing, Rome Mall Housing Development Fund Company Inc contributes to promoting economic stability and social well-being among low-income residents in Syracuse. Its mission to develop, own, and operate this housing project on a non-profit basis aligns with the goal of providing equitable housing opportunities to those in need. By focusing on housing, Rome Mall Housing Development Fund Company Inc plays a vital role in supporting the local community and fostering a sense of belonging and security for its residents.
This information is meant to be a general summary of Rome Mall 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 2022.
- Investment Income: $360
- Program Service Revenue: $514,360
- Gross Receipts: $517,604
Assets and Liabilities:
- Total Assets: $1,668,003
- Total Liabilities: $1,554,385
- Net Assets: $113,618
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME - NET OF
Revenue
$514,360
Organization Details
Founding Year
1982
Phone
(315) 424-1821Principal Officer
John Reade
Main Address
990 JAMES STREET, SYRACUSE, NY, 13203
NTEE Category
Code: L210 - Housing
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