Overview
What is Riese Projects Urban Renewal Corporation?
Riese Projects Urban Renewal Corporation is a nonprofit organization situated in Paterson, New Jersey. Their primary mission is to provide affordable housing for low-income senior citizens and individuals with disabilities. The organization manages a 201-unit apartment project, specifically catering to the elderly population. This project operates under Section 236 of the National Housing Act, with regulatory oversight from both the New Jersey Housing Mortgage and Finance Agency (NJHMFA) and the U.S. Department of Housing and Urban Development (HUD), ensuring proper rental charges and operational methods are maintained. The organization is staffed by a team of five individuals.
Is Riese Projects Urban Renewal Corporation legitimate?
Riese Projects Urban Renewal Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Riese Projects Urban Renewal 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:
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Other Salaries and Wages: $271,019
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What is the mission statement of Riese Projects Urban Renewal Corporation?
Riese Projects Urban Renewal Corporation's mission is centered around providing affordable housing for senior citizens and individuals with disabilities. They operate a 201-unit apartment complex, adhering to regulations set by the New Jersey Housing Mortgage and Finance Agency (NJHMFA) and the U.S. Department of Housing and Urban Development (HUD). The corporation's primary goal is to offer housing solutions for low-income individuals, ensuring a comfortable living environment for this particular demographic. The Riese Projects Inc. manages the complex, with one unit allocated for the superintendent.
What is the revenue of Riese Projects Urban Renewal Corporation?
Riese Projects Urban Renewal Corporation's revenue in 2023 was $2,908,846.
Who are the executives of Riese Projects Urban Renewal Corporation and what are their salaries?
The average compensation at Riese Projects Urban Renewal Corporation during 2023 was $54,204. There are 5 employees and 13 volunteers at Riese Projects Urban Renewal Corporation.
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Where can I find the form 990 for Riese Projects Urban Renewal Corporation?
Riese Projects Urban Renewal Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Riese Projects Urban Renewal Corporation
Riese Projects Urban Renewal Corporation is dedicated to providing affordable housing for low-income senior citizens and individuals with disabilities. Operating under Section 236 of the National Housing Act, this organization manages a 201-unit apartment complex, regulated by both the New Jersey Housing Mortgage and Finance Agency (NJHMFA) and the U.S. Department of Housing and Urban Development (HUD). The project's rental charges and operating methods are closely monitored by these regulatory bodies. Riese Projects Urban Renewal Corporation's mission is reflected in its provision of 201 units, with one unit occupied by the superintendent, ensuring that elderly and disabled individuals have access to suitable living spaces. The corporation's commitment to affordable housing for this population group enables them to maintain their independence and dignity, contributing to a stronger and more inclusive community.
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Impact
October, 2024
Riese Projects Urban Renewal Corporation plays a significant role in addressing the housing needs of low-income elderly individuals in Paterson, NJ. By providing 201 dedicated apartment units under Section 236 of the National Housing Act, it ensures that vulnerable seniors have access to affordable living spaces. The project is regulated by both the New Jersey Housing Mortgage and Finance Agency (NJHMFA) and the U.S. Department of Housing and Urban Development (HUD), guaranteeing that rental charges remain manageable and operating methods meet required standards.
Through its focused mission, the corporation alleviates housing insecurity for senior citizens and individuals with disabilities, contributing to the overall well-being of the community. This initiative not only supports residents in maintaining their independence but also fosters a sense of community, allowing elderly individuals to live with dignity in their later years. In a time when access to affordable housing is critical, Riese Projects Urban Renewal Corporation serves as a vital resource in Paterson, enhancing the quality of life for its residents.
This information is meant to be a general summary of Riese Projects Urban Renewal 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 2023.
- Investment Income: $143,267
- Program Service Revenue: $2,728,977
- Gross Receipts: $2,908,846
Assets and Liabilities:
- Total Assets: $11,357,576
- Total Liabilities: $1,451,585
- Net Assets: $9,905,991
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT- SENIOR HOUSING P
Revenue
$2,728,977
Organization Details
Founding Year
1971
Principal Officer
Msgr Herbert K Tillyer
NTEE Category
Code: L20 - Housing
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