Overview
What is 1260 Housing Development Corporation?
1260 Housing Development Corporation is a Pennsylvania-based nonprofit organization situated in Philadelphia. Their mission is to develop, acquire, finance, and manage affordable permanent housing for individuals dealing with behavioral health issues, as well as those in need of transitional and emergency housing within the city. Established to address the housing needs of vulnerable populations, this corporation plays a significant role in providing essential housing solutions for individuals in the City of Philadelphia.
Official website here: www.missionfirsthousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating from Charity Navigator)
The 1260 Housing Development Corporation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in Accountability and Finance. The organization scored an impressive 96%, indicating a high level of transparency and financial responsibility. This rating is based solely on their strength in accountability, which is a vital aspect for donors and stakeholders in assessing the efficacy of nonprofit organizations.
The nonprofit demonstrates robust governance practices, with a fully independent board comprised of seven members and a complete adherence to policy requirements, including conflict of interest and whistleblower policies. Their financial management is also notable, with no reported material diversion of assets and a healthy liabilities to assets ratio of 45.70%, showcasing their ability to manage debt effectively.
While the overall financial health appears to be solid, it's important to note that the rating is derived from a specific focus on accountability and finance. There may be additional dimensions of the organization's operations or program impact that are not captured in this score, warranting further exploration for those interested in the breadth of its mission and services.
This AI summary has been generated from information found on Charity Navigator.
Is 1260 Housing Development Corporation legitimate?
1260 Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 1260 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.missionfirsthousing.org
What is the mission statement of 1260 Housing Development Corporation?
The 1260 Housing Development Corporation is a not-for-profit organization dedicated to providing housing solutions for individuals with behavioral health issues and those in need of transitional and emergency housing. Through developing, acquiring, financing, and managing low-income permanent housing, the corporation aims to make a positive impact on the community. Specifically, their program offers affordable housing to low-income individuals, including vulnerable populations and those with physical and mental disabilities. The corporation's mission is to improve the lives of these individuals by providing them with a stable living environment. Their commitment extends beyond housing, as they also strive to ensure their residents have access to essential resources and support services to help them thrive.
Official website here: www.missionfirsthousing.org
Who is the CEO of 1260 Housing Development Corporation?
Thomas Ak Queenan is the President & Ceo, Since June 2022 of 1260 Housing Development Corporation. The CEO's salary of 1260 Housing Development Corporation is $0 and their total compensation is $0.
Official website here: www.missionfirsthousing.org
What is the revenue of 1260 Housing Development Corporation?
1260 Housing Development Corporation's revenue in 2022 was $16,943,789.
Official website here: www.missionfirsthousing.org
Who are the executives of 1260 Housing Development Corporation and what are their salaries?
There 10 volunteers at 1260 Housing Development Corporation.
Here are 11 key members and their salaries (1260 Housing Development Corporation's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Related: $215,076
- Other: $20,395
- Compensation: $0
- Related: $197,715
- Other: $20,779
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.missionfirsthousing.org
Where can I find the form 990 for 1260 Housing Development Corporation?
1260 Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.missionfirsthousing.org
Learn more at the official website: www.missionfirsthousing.org
Mission Statement of 1260 Housing Development Corporation
1260 Housing Development Corporation, a not-for-profit organization, is dedicated to developing, acquiring, financing, and managing low-income permanent housing for individuals dealing with behavioral health issues and those in need of transitional and emergency housing in various communities. By offering this essential service, the Corporation aims to address the housing needs of vulnerable populations, including those who are physically and mentally disabled.
The mission of 1260 Housing Development Corporation extends beyond merely providing permanent housing solutions. The organization is committed to improving the lives of those it serves by creating a supportive environment where individuals can focus on their well-being and recovery. Through this effort, the Corporation is making a significant contribution to the overall health and stability of the communities it serves.
In practice, the Affordable Housing Program initiated by 1260 Housing Development Corporation is designed to provide shelter and a sense of belonging to low-income individuals who might otherwise struggle to find a stable living situation. The program's emphasis on inclusivity ensures that it caters to a wide range of people, providing them with the opportunity to build a better future for themselves and their families. By addressing the critical need for affordable housing, 1260 Housing Development Corporation is actively working to create more vibrant, resilient communities where everyone can thrive.
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Impact
October, 2024
1260 Housing Development Corporation significantly enhances the quality of life for low-income individuals in Philadelphia, particularly those facing behavioral health challenges. By developing, acquiring, financing, and managing affordable housing, it creates permanent housing solutions that cater to vulnerable populations, including individuals with physical and mental disabilities.
The corporation plays a critical role in addressing the urgent need for transitional and emergency housing, offering a safety net for those in crisis. This support fosters stability, allowing individuals to regain independence and integrate more effectively into the community.
Overall, 1260 Housing Development Corporation's impact extends beyond providing housing; it contributes to the well-being and rehabilitation of its residents, promoting a more inclusive and supportive environment in Philadelphia.
This information is meant to be a general summary of 1260 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: $1,759,421
- Program Service Revenue: $15,103,003
- Gross Receipts: $16,943,789
Assets and Liabilities:
- Total Assets: $77,316,707
- Total Liabilities: $32,274,710
- Net Assets: $45,041,997
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GOVERNMENT CONTRACT INCOME
Revenue
$11,032,033
RENTAL INCOME FROM TENANTS
Revenue
$2,863,444
SECTION 8 - HUD
Revenue
$845,789
GRANT INCOME
Revenue
$245,246
REAL ESTATE SERVICES
Revenue
$116,491
Organization Details
Founding Year
1988
Phone
(215) 577-8414Principal Officer
Thomas Ak Queenan
Main Address
2042-48 ARCH STREET 2ND FLOOR, PHILADELPHIA, PA, 191031412
Website
www.missionfirsthousing.orgNTEE Category
Code: L210 - Housing
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