Overview
What is Federation Housing Inc?
Federation Housing Inc, located in Philadelphia, Pennsylvania, is a nonprofit organization dedicated to managing and developing affordable rental housing complexes specifically designed for the elderly. With 11 such complexes under its management for the current fiscal year, the organization serves a total of 1629 residents across 1261 apartments. The mission of Federation Housing Inc is to provide affordable housing opportunities for low-income seniors able to maintain an independent living, while ensuring their residences offer opportunities for socializing and maintaining a high quality of life. The organization strives to make its facilities accessible to as many elderly individuals as possible by developing additional buildings in the Philadelphia area and its suburbs. With a workforce of 73 employees, Federation Housing Inc is committed to enhancing the living conditions of the elderly community.
Official website here: www.federationhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
Federation Housing Inc has earned a remarkable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With a perfect score of 100% for having an entirely independent board of 33 members, the organization demonstrates a commitment to governance and oversight. Additionally, it has achieved top marks in several categories, including financial statements and material diversion of assets, indicating robust financial health and ethical management practices.
The organization showcases a high program expense ratio at 83.53%, meaning a significant portion of its funding goes directly to its mission-related activities. Its fundraising efficiency is commendable, with minimal costs incurred to raise each dollar, showcasing effective financial stewardship. Moreover, the long working capital ratio of 13.21 years suggests a strong ability to sustain operations and support its programs over the long term.
While the rating reflects a strong overall performance, the data does not indicate any specific limitations or concerns regarding the organization's operations or effectiveness. The comprehensive policies listed, including conflict of interest and whistleblower policies, further solidify its commitment to transparency and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Federation Housing Inc legitimate?
Federation Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Federation Housing 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: $287,556
Professional Fundraising Fees: $0
Other Salaries and Wages: $831,960
For more financial information, click here
Official website here: www.federationhousing.org
What is the mission statement of Federation Housing Inc?
Federation Housing Inc's mission is focused on providing affordable housing opportunities for low-income elderly individuals who can maintain their independence. The organization aims to develop facilities that allow residents to live independently while also promoting socialization and maintaining a high quality of life. The goal is to make these facilities accessible to as many elderly individuals as possible by expanding with additional buildings.
Official website here: www.federationhousing.org
What is the revenue of Federation Housing Inc?
Federation Housing Inc's revenue in 2023 was $5,789,633.
Official website here: www.federationhousing.org
Who are the executives of Federation Housing Inc and what are their salaries?
The average compensation at Federation Housing Inc during 2023 was $14,353. There are 78 employees and 33 volunteers at Federation Housing Inc.
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- Compensation: $252,587
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Official website here: www.federationhousing.org
Where can I find the form 990 for Federation Housing Inc?
Federation Housing Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.federationhousing.org
Learn more at the official website: www.federationhousing.org
Mission Statement of Federation Housing Inc
Federation Housing Inc, a nonprofit organization, is dedicated to providing affordable housing opportunities for low-income seniors who can maintain their independence. Its mission is threefold. Firstly, it aims to create living spaces where these seniors can reside and socialize, ensuring a high quality of life and activity. Secondly, Federation Housing Inc strives to make its facilities accessible to as many eligible seniors as possible by developing additional buildings in various locations. Lastly, the organization is committed to fostering an environment where seniors can live independently while still having the opportunity to interact and engage in social activities.
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Impact
October, 2024
Federation Housing Inc significantly enhances the quality of life for low-income seniors in and around Philadelphia by managing and developing affordable rental housing complexes. With a focus on creating independent living environments, they currently oversee 11 rental housing complexes, providing homes for 1,629 residents across 1,261 apartments.
Their efforts ensure that seniors not only have access to affordable housing but also enjoy facilities that foster social interactions and community engagement. This approach helps maintain a high quality of life, allowing residents to connect with their peers in a supportive environment. By striving to develop additional housing options, Federation Housing Inc aims to reach even more seniors in need, thereby making a profound impact on the community and improving overall living standards for elderly individuals who may otherwise struggle to afford safe and comfortable housing.
This information is meant to be a general summary of Federation Housing 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: $436,041
- Program Service Revenue: $2,371,195
- Gross Receipts: $8,462,180
Assets and Liabilities:
- Total Assets: $27,482,518
- Total Liabilities: $163,476
- Net Assets: $27,319,042
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROJECT DEVELOPMENT FEES
Revenue
$1,200,000
MANAGEMENT FEES
Revenue
$994,545
BOOKKEEPING FEES
Revenue
$107,679
VAN TRANSPORTATION FEES
Revenue
$50,900
OTHER PROGRAM SERVICES
Revenue
$18,071
Organization Details
Founding Year
1978
Principal Officer
Jay Weinstein
Website
www.federationhousing.orgNTEE Category
Code: S31 - Community improvement
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