Overview
What is Tannersville Housing Development Fund Company Inc?
Tannersville Housing Development Fund Company Inc, based in Catskill, New York, is a nonprofit organization with a mission to provide affordable housing for low-income elderly individuals. The nonprofit owns and manages a 12-unit apartment building in Tannersville, specifically catering to this targeted demographic. This vital community service ensures that the elderly population in need has a secure and affordable living space.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1-Star out of Four Stars (58%)
The Tannersville Housing Development Fund Company Inc has received a one-star rating from Charity Navigator, indicating significant room for improvement in its accountability and financial practices. The overall score is primarily derived from its accountability and finance metrics, where it scored 58%, highlighting some strengths and notable weaknesses.
On the positive side, the organization boasts a fully independent board with ten members, scoring high for both board independence and the documentation of board meeting minutes. Additionally, the program expense ratio is strong at 74.65%, which suggests a commitment to allocating funds towards its mission-related activities. However, the organization faces critical challenges in several areas.
Significant concerns include a high liabilities to assets ratio of 138.38%, indicating potential financial instability. Moreover, the absence of essential governance policies, such as a conflict of interest policy, a whistleblower policy, and a document retention policy, raises questions about the organization's operational transparency and commitment to best practices. These deficiencies contribute to the low overall rating and suggest the need for strategic improvements in governance and financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Tannersville Housing Development Fund Company Inc legitimate?
Tannersville Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tannersville 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.
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Tannersville Housing Development Fund Company Inc?
Tannersville Housing Development Fund Company Inc's mission is centered around providing affordable housing for low-income elderly individuals. This mission is carried out through the operation of suitable living accommodations, as demonstrated by their management of a 12-unit apartment building. This organization is committed to serving this specific demographic, ensuring they have access to comfortable and affordable housing. By doing so, Tannersville Housing Development Fund Company Inc contributes to the well-being and independence of this community segment.
Who is the CEO of Tannersville Housing Development Fund Company Inc?
Trish Lamb is the Director of Tannersville Housing Development Fund Company Inc.
What is the revenue of Tannersville Housing Development Fund Company Inc?
Tannersville Housing Development Fund Company Inc's revenue in 2022 was $70,801.
Who are the executives of Tannersville Housing Development Fund Company Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Tannersville Housing Development Fund Company Inc?
Tannersville Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tannersville Housing Development Fund Company Inc
Tannersville Housing Development Fund Company Inc is dedicated to providing affordable housing solutions for low-income elderly individuals. This nonprofit organization's mission is centered around this specific goal, striving to make a meaningful difference in the lives of its target demographic. By owning and managing a 12-unit apartment building, Tannersville Housing Development Fund Company Inc offers a safe and affordable living space to qualifying elderly individuals. This commitment to affordable housing not only provides a place to call home but also contributes to the overall well-being and independence of its residents, allowing them to age with dignity and security.
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Impact
August, 2024
Tannersville Housing Development Fund Company Inc's impact is evident in its provision of affordable housing to low-income elderly individuals in Catskill, New York. Through its ownership and operation of a 12-unit apartment building in Tannersville, this organization directly addresses the housing needs of qualifying individuals in the community. By offering affordable housing options, Tannersville Housing Development Fund Company Inc plays a crucial role in supporting the well-being and dignity of low-income elderly residents, ensuring they have a safe and stable place to call home.
This information is meant to be a general summary of Tannersville 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: $70
- Program Service Revenue: $33,894
- Gross Receipts: $70,801
Assets and Liabilities:
- Total Assets: $1,224,667
- Total Liabilities: $1,644,739
- Net Assets: -$420,072
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$32,652
VENDING
Revenue
$1,239
MISCELLANEOUS
Revenue
$3
Organization Details
Founding Year
2002
Phone
(518) 943-6700Principal Officer
Trish Lamb
Main Address
PO BOX 473 448 MAIN STREET, CATSKILL, NY, 12414
NTEE Category
Code: L20 - Housing
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