Overview
What is Huntington Senior Citizens Housing Development Fund Co Inc?
Huntington Senior Citizens Housing Development Fund Co Inc is a nonprofit organization situated in Greenlawn, New York. Their primary mission is to improve and update existing low-income senior citizen housing units for their affiliates, as well as acquire new land for future projects. They aim to finance the construction and renovation of these units through low-income housing credits and federal funding, adhering to HUD guidelines. Their work involves planning and developing senior citizen housing projects, ultimately providing affordable rental housing options for low-income senior citizens, enabling them to qualify for HUD subsidies.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53% (One-Star out of Four Stars)
Huntington Senior Citizens Housing Development Fund Co Inc has received a low rating of 53%, which corresponds to a One-Star designation. This rating is solely based on its Accountability & Finance score, highlighting significant concerns regarding its organizational governance and transparency practices. The majority of the ratings are influenced by the lack of independent board members and the absence of key policies, which negatively impacts its score.
The organization does demonstrate some strengths, particularly in its financial management, as indicated by a high program expense ratio of 99.94% and a favorable liabilities to assets ratio of 20.30%. These metrics suggest that most of its expenses are directed toward its programs rather than administrative costs, which is a positive aspect for contributors looking for efficient use of funds.
However, the charity's weaknesses are substantial, including a complete lack of independent board members and missing essential governance policies such as conflict of interest and whistleblower policies. These shortcomings emphasize the need for greater transparency and accountability to build trust with stakeholders and the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Huntington Senior Citizens Housing Development Fund Co Inc legitimate?
Huntington Senior Citizens Housing Development Fund Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Huntington Senior Citizens Housing Development Fund Co 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Huntington Senior Citizens Housing Development Fund Co Inc?
Huntington Senior Citizens Housing Development Fund Co Inc's mission is centered around providing senior citizen housing projects. They actively seek, acquire, renovate, and finance rental housing units for low-income senior citizens, adhering to HUD guidelines. The organization owns the rental housing units through its not-for-profit affiliates, which share a common board of directors. Their efforts involve identifying potential locations, improving and updating existing senior citizen housing units of their affiliates, acquiring land, and planning for new senior citizen housing projects. They also secure private and state financing through low-income housing credits and federal funding for the construction and renovation of these senior citizen housing units.
Who is the CEO of Huntington Senior Citizens Housing Development Fund Co Inc?
William Davidson is the President of Huntington Senior Citizens Housing Development Fund Co Inc.
What is the revenue of Huntington Senior Citizens Housing Development Fund Co Inc?
Huntington Senior Citizens Housing Development Fund Co Inc's revenue in 2022 was $13,706.
Who are the executives of Huntington Senior Citizens Housing Development Fund Co Inc and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $232,380
- Other: $0
- Compensation: $0
- Related: $143,690
- Other: $0
- Compensation: $0
- Related: $49,756
- Other: $0
- Compensation: $0
- Related: $109,376
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $50,326
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $205,940
- Other: $0
Where can I find the form 990 for Huntington Senior Citizens Housing Development Fund Co Inc?
Huntington Senior Citizens Housing Development Fund Co Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Huntington Senior Citizens Housing Development Fund Co Inc
Huntington Senior Citizens Housing Development Fund Co Inc is a non-profit organization with a mission to provide planning and development of senior citizen housing projects. Their primary goal is to seek, acquire, renovate, and finance rental housing units for low-income senior citizens, as defined and approved under HUD guidelines. The organization achieves this mission through its not-for-profit affiliates, which own the rental housing units. The Board of Directors of these affiliates and Huntington Senior Citizens Housing Development Fund Co Inc share common leadership.
In pursuit of its mission, Huntington Senior Citizens Housing Development Fund Co Inc actively seeks potential locations for senior citizen housing projects, works to improve and update existing units, acquires land for new projects, and plans for future low-income senior citizen housing units. The organization also seeks private and state financing for its projects, utilizing low-income housing credits and federal funding for construction and renovation of the rental units. The ultimate aim is to provide affordable housing options for low-income senior citizens, ensuring they can benefit from the HUD HAP subsidy.
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Impact
August, 2024
Huntington Senior Citizens Housing Development Fund Co Inc plays a crucial role in providing planning and development for senior citizen housing projects. By seeking out potential locations, improving current low-income senior citizens housing units, acquiring land, and obtaining financing through various means, the organization contributes to the availability of affordable housing for seniors in need. Their mission to renovate and finance rental housing units for low-income senior citizens aligns with HUD guidelines, ultimately helping seniors qualify for necessary housing subsidies. Through their efforts, they help address the housing needs of this vulnerable population in Greenlawn, NY.
This information is meant to be a general summary of Huntington Senior Citizens Housing Development Fund Co 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: $13,706
- Gross Receipts: $1,980,581
Assets and Liabilities:
- Total Assets: $5,354,467
- Total Liabilities: $1,348,173
- Net Assets: $4,006,294
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Organization Details
Founding Year
1972
Phone
(631) 262-0101Principal Officer
William Davidson
Main Address
650 PAUMANACK VILLAGE DRIVE, GREENLAWN, NY, 11740
NTEE Category
Code: L22 - Housing
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