Overview
What is National Affordable Housing Foundation Schenectady Inc?
National Affordable Housing Foundation Schenectady Inc, located in Waltham, Massachusetts, is a nonprofit organization with a mission to foster and engage in the development of low/moderate income housing. They achieve this by creating and making available 292 housing units for rental purposes, adhering to established U.S. HUD guidelines. Furthermore, they provide educational resources related to affordable housing, aiming to contribute positively to their local community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 46% (Zero-Star out of Four Star rating)
The National Affordable Housing Foundation Schenectady Inc has received a Zero-Star rating from Charity Navigator, indicating significant concerns regarding its financial health. The overall score is derived solely from its Accountability & Finance metrics, where it achieved a score of 46%. While the organization demonstrates strengths in areas such as having a majority of independent board members and maintaining proper financial auditing practices, its high liabilities relative to assets raises red flags about its financial stability.
Notably, the organization has a commendable policy framework, including a conflict of interest policy and the documentation of board meeting minutes, which reflects a level of governance awareness. However, the program expense ratio of 47.48% suggests that less than half of its expenses are directed towards its mission-related programs, which is a critical factor for potential donors and stakeholders assessing its effectiveness.
In summary, while the National Affordable Housing Foundation demonstrates some solid governance attributes, its financial ratios highlight significant weaknesses that could affect its operations and sustainability. Stakeholders may want to consider these aspects carefully before engaging with or supporting the organization.
This AI summary has been generated from information found on Charity Navigator.
Is National Affordable Housing Foundation Schenectady Inc legitimate?
National Affordable Housing Foundation Schenectady Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. National Affordable Housing Foundation Schenectady 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: $0
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What is the mission statement of National Affordable Housing Foundation Schenectady Inc?
The National Affordable Housing Foundation, in its mission, focuses on fostering and promoting the development of low/moderate income housing. This organization also prioritizes educating the public about the importance of affordable housing. By adhering to existing U.S. HUD guidelines, they develop and make available 292 units of housing for rental purposes, catering to individuals with lower income levels.
Who is the CEO of National Affordable Housing Foundation Schenectady Inc?
William S Casper is the Director of National Affordable Housing Foundation Schenectady Inc.
What is the revenue of National Affordable Housing Foundation Schenectady Inc?
National Affordable Housing Foundation Schenectady Inc's revenue in 2022 was $3,820,288.
Who are the executives of National Affordable Housing Foundation Schenectady Inc and what are their salaries?
There 4 volunteers at National Affordable Housing Foundation Schenectady Inc.
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for National Affordable Housing Foundation Schenectady Inc?
National Affordable Housing Foundation Schenectady Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of National Affordable Housing Foundation Schenectady Inc
National Affordable Housing Foundation Schenectady Inc is committed to promoting and facilitating the development of affordable housing options for individuals with low to moderate income levels. This nonprofit organization goes beyond just constructing housing units; it also aims to educate the public on the importance and benefits of affordable housing. Under the guidance of U.S. HUD regulations, the foundation develops and makes available a total of 292 housing units, designed for rental purposes, to cater to this specific demographic. By doing so, it contributes significantly to providing suitable living spaces for individuals who may struggle with affording market-rate housing, thereby fostering a more inclusive and equitable community.
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Impact
October, 2024
National Affordable Housing Foundation Schenectady Inc significantly contributes to the community by developing and providing affordable housing options for low and moderate-income individuals. By creating 292 rental units that comply with existing U.S. HUD guidelines, it not only addresses housing scarcity but also ensures that residents have access to safe and stable living environments.
In addition to housing development, the foundation plays a crucial role in educating the community about affordable housing. This outreach empowers individuals with knowledge of available resources and supports, helping to promote sustainable living and enhance the overall quality of life for residents. Through its dual focus on housing development and education, the foundation makes a meaningful impact on housing stability and community well-being in Waltham, MA.
This information is meant to be a general summary of National Affordable Housing Foundation Schenectady 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: $10,183
- Program Service Revenue: $3,776,722
- Gross Receipts: $3,820,288
Assets and Liabilities:
- Total Assets: $10,592,488
- Total Liabilities: $19,732,946
- Net Assets: -$9,140,458
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$3,776,722
Organization Details
Founding Year
1992
Phone
(781) 547-4280Principal Officer
William S Casper
Main Address
465 WAVERLY OAKS RD 211, WALTHAM, MA, 02452
NTEE Category
Code: L20Z - Housing
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