Overview
What is St Simeon Ii Housing Development Fund Company Inc?
St. Simeon II Housing Development Fund Company Inc. is a nonprofit organization dedicated to serving senior citizens with low income. Situated within its mission, it manages and maintains 60 apartments, providing a much-needed living space for these individuals. This initiative is an essential part of their broader goal to contribute to the field of low-income senior housing programs. By offering these apartments, St. Simeon II Housing Development Fund Company Inc. is making a significant difference in the lives of elderly residents who may otherwise face housing challenges.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
St Simeon Ii Housing Development Fund Company Inc has received a Two-Star out of Four Star rating from Charity Navigator, scoring 67%. The organization demonstrates strong accountability in certain areas, such as having a fully independent board and a robust program expense ratio of 80.23%, which indicates a significant portion of funds directed towards its mission. Additionally, the organization has effective oversight practices, as shown by its audit and oversight committee performance.
However, there are notable weaknesses that contribute to its overall rating. The organization has a high liabilities to assets ratio of 98.24%, suggesting potential financial instability. Furthermore, several essential policies, including conflict of interest, whistleblower protection, and document retention, are missing, pointing to a lack of comprehensive governance practices.
The absence of publicly accessible tax forms on its website also raises concerns about transparency. This combination of strengths and weaknesses highlights the need for the organization to improve its governance and financial management practices to enhance its credibility and effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is St Simeon Ii Housing Development Fund Company Inc legitimate?
St Simeon Ii Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Simeon Ii 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: $138,560
Professional Fundraising Fees: $0
Other Salaries and Wages: $24,677
For more financial information, click here
What is the mission statement of St Simeon Ii Housing Development Fund Company Inc?
St. Simeon II Housing Development Fund Company Inc. is committed to serving the needs of senior citizens with limited income. As part of its mission, the company manages and maintains 60 apartments, offering them as part of a broader senior housing program. The company's goal is to provide a living space for these individuals, ensuring they have access to suitable housing options. By doing so, the company aims to contribute positively to the well-being and living standards of senior citizens with limited financial resources.
Who is the CEO of St Simeon Ii Housing Development Fund Company Inc?
Mary E Moore is the Director of St Simeon Ii Housing Development Fund Company Inc.
What is the revenue of St Simeon Ii Housing Development Fund Company Inc?
St Simeon Ii Housing Development Fund Company Inc's revenue in 2023 was $929,839.
Who are the executives of St Simeon Ii Housing Development Fund Company Inc and what are their salaries?
The average compensation at St Simeon Ii Housing Development Fund Company Inc during 2023 was $81,618. There are 2 employees at St Simeon Ii Housing Development Fund Company Inc.
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- Compensation: $138,560
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Where can I find the form 990 for St Simeon Ii Housing Development Fund Company Inc?
St Simeon Ii Housing Development Fund Company Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of St Simeon Ii Housing Development Fund Company Inc
St. Simeon II Housing Development Fund Company Inc is dedicated to serving senior citizens with low income, providing them with housing programs as part of its mission. The organization manages and maintains 60 apartments, catering specifically to this demographic, demonstrating its commitment to their well-being and living conditions. By offering low income housing programs, St. Simeon II Housing Development Fund Company Inc contributes to the overall welfare of seniors, ensuring they have a secure and comfortable place to call home.
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Impact
October, 2024
St. Simeon II Housing Development Fund Company Inc significantly enhances the quality of life for low-income senior citizens in Poughkeepsie, NY, by managing and maintaining 60 affordable apartments. This initiative directly addresses the pressing need for accessible housing options for seniors, who often face financial constraints that limit their housing choices. By providing a stable living environment, the organization helps promote independence and dignity among its residents, contributing to their overall well-being.
The impact of this housing development is multifaceted; it not only offers safe and affordable living conditions but also fosters a sense of community among the residents. This supportive environment can lead to improved mental and emotional health, as seniors have opportunities for social engagement and mutual support. Overall, St. Simeon II plays a crucial role in the lives of low-income senior citizens, ensuring they have a place to call home while promoting their health and independence.
This information is meant to be a general summary of St Simeon Ii 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: $8,031
- Program Service Revenue: $263,602
- Gross Receipts: $929,839
Assets and Liabilities:
- Total Assets: $2,699,477
- Total Liabilities: $2,652,024
- Net Assets: $47,453
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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
$263,602
Organization Details
Founding Year
1989
Phone
(845) 471-9651Principal Officer
Mary E Moore
Main Address
9 HILLTOP COURT, POUGHKEEPSIE, NY, 12601
NTEE Category
Code: L22 - Housing
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