Overview
What is Providence Housing Development Corporation?
Providence Housing Development Corporation is a nonprofit organization situated in Rochester, New York, specifically at 1150 Buffalo Road. Their primary mission is to empower families and communities by offering and facilitating access to high-quality, affordable housing. This is further enriched by providing supportive services. In response to the coronavirus pandemic, they launched an Eviction Prevention Pilot Initiative, a county-wide program aimed at aiding residents at risk of eviction. This program, funded through the Emergency Rental Assistance Program (ERAP) in 2022, is a collaborative effort between Monroe County and the City of Rochester. Through a competitive RFP process, vendors have been selected to distribute funds within the community, ensuring the program's reach and impact. With a dedicated workforce of 87 employees, Providence Housing Development Corporation is committed to improving livelihoods and fostering stronger communities.
Official website here: www.providencehousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Providence Housing Development Corporation has achieved a commendable score of 96%, indicating a strong level of accountability and financial management. This rating is based solely on their financial practices, underscoring the organization's commitment to transparency and responsible stewardship of funds. The high rating reflects a well-functioning governance structure, with 83% of board members being independent, ensuring unbiased decision-making.
The organization demonstrates solid financial health with a low liabilities-to-assets ratio of 13.70% and a program expense ratio of 86.50%. This suggests that a significant majority of their expenses are directed towards their programs rather than administrative costs. Furthermore, they have established multiple policies to promote ethical practices, including a conflict of interest policy and a whistleblower policy, indicating a thorough approach to governance.
There are no noted limitations or concerns in their financial oversight and practices, which speaks positively to their operational integrity. Overall, Providence Housing Development Corporation stands out as a reliable organization dedicated to its mission, with robust mechanisms in place to uphold its accountability standards.
This AI summary has been generated from information found on Charity Navigator.
Is Providence Housing Development Corporation legitimate?
Providence Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Providence Housing Development Corporation 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: $368,139
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,343,517
For more financial information, click here
Official website here: www.providencehousing.org
What is the mission statement of Providence Housing Development Corporation?
Providence Housing Development Corporation's mission is focused on strengthening families and communities by creating and facilitating access to high-quality, affordable housing. This is further enhanced by offering supportive services. The corporation's mission is to improve living conditions and provide stability for low-income households, thereby contributing to the overall well-being of communities.
As part of their mission, they have initiated an Eviction Prevention Pilot Program in response to the Coronavirus pandemic. This county-wide initiative aims to assist residents at risk of eviction by providing funding through the Emergency Rental Assistance Program (ERAP). The program selects vendors through a competitive RFP process to distribute funds within the community, with contributions from various sources.
Official website here: www.providencehousing.org
Who is the CEO of Providence Housing Development Corporation?
Mark Greisberger is the Treasurer of Providence Housing Development Corporation.
Official website here: www.providencehousing.org
What is the revenue of Providence Housing Development Corporation?
Providence Housing Development Corporation's revenue in 2022 was $6,919,368.
Official website here: www.providencehousing.org
Who are the executives of Providence Housing Development Corporation and what are their salaries?
The average compensation at Providence Housing Development Corporation during 2022 was $19,674. There are 87 employees and 50 volunteers at Providence Housing Development Corporation.
Here are 16 key members and their salaries:
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- Compensation: $71,528
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- Compensation: $141,895
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- Compensation: $132,864
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- Other: $13,315
Official website here: www.providencehousing.org
Where can I find the form 990 for Providence Housing Development Corporation?
Providence Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.providencehousing.org
Learn more at the official website: www.providencehousing.org
Mission Statement of Providence Housing Development Corporation
Providence Housing Development Corporation is dedicated to strengthening families and communities by creating and facilitating access to affordable housing, enriched with supportive services. This nonprofit organization's mission is to serve low-income households, aiming to improve their living conditions and overall well-being. By providing quality housing, Providence Housing Development Corporation aims to contribute positively to the communities they serve.
In line with this mission, the organization has implemented various initiatives, such as the Eviction Prevention Pilot Initiative. This county-wide program, supported by federal funds received in 2022 through the Emergency Rental Assistance Program (ERAP), is designed to assist residents at risk of eviction due to the novel Coronavirus pandemic. By distributing funds throughout the community through a competitive RFP process, Monroe County and the City of Rochester, in collaboration with selected vendors, are able to provide much-needed support to those in need. This initiative is a testament to Providence Housing Development Corporation's commitment to serving and supporting its community, ensuring that families have a safe and secure place to call home.
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Impact
October, 2024
Providence Housing Development Corporation has a significant impact on the community by creating affordable housing for low-income households, particularly through initiatives like the Eviction Prevention Pilot Initiative. This county-wide program is designed to assist residents at risk of eviction, especially in light of challenges posed by the COVID-19 pandemic.
With funding from the Emergency Rental Assistance Program (ERAP), this initiative reflects a proactive approach to preventing homelessness and stabilizing families during difficult times. By distributing federal funds through a competitive vendor selection process in Monroe County and the City of Rochester, the Corporation ensures that essential resources are accessible to those who need them most.
The organization’s mission to strengthen families and communities is realized not only through housing but also by incorporating supportive services that enhance residents' quality of life. Overall, Providence Housing Development Corporation plays a crucial role in fostering stability and resilience within the Rochester community.
This information is meant to be a general summary of Providence Housing Development Corporation. 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: $111,395
- Program Service Revenue: $1,703,196
- Gross Receipts: $6,931,931
Assets and Liabilities:
- Total Assets: $12,370,413
- Total Liabilities: $1,718,298
- Net Assets: $10,652,115
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Property Management
Revenue
$1,058,540
Supportive Housing
Revenue
$373,200
Program Administration
Revenue
$245,431
Project Development
Revenue
$26,025
Organization Details
Founding Year
1994
Phone
(585) 328-3210Principal Officer
Mark Greisberger
Main Address
1150 Buffalo Road, Rochester, NY, 14624
Website
www.providencehousing.orgNTEE Category
Code: L21 - Housing
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