Overview
What is A Malcolm Housing Development Fund Corporation?
A Malcolm Housing Development Fund Corporation is a nonprofit organization situated in Bronx, New York, specifically at 1776 Eastchester Road Suite 210. Their primary mission involves providing housing solutions for the elderly and individuals with disabilities, adhering to the guidelines set by the U.S. Department of Housing and Urban Development (HUD) Section 202 program. This program enables the organization to offer suitable living accommodations, addressing the housing needs of this specific demographic. With a dedicated team of three employees, A Malcolm Housing Development Fund Corporation contributes to enhancing the quality of life for elderly and disabled individuals in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, Two-Star out of Four Star rating (71%)
A Malcolm Housing Development Fund Corporation has received a rating of "Needs Improvement" with a score of 71% from Charity Navigator. The organization demonstrates strong governance, evidenced by a fully independent board of directors and effective oversight of financial statements. Their program expense ratio is commendable at 100%, indicating that all expenses are directed towards their programs.
However, there are notable weaknesses in their accountability practices. The organization lacks critical policies, including a whistleblower policy and a document retention and destruction policy, which have negatively impacted their overall score. Additionally, the absence of a tax form on their website raises concerns about transparency.
The organization's liabilities to assets ratio is concerning at 121.42%, suggesting potential financial instability that could affect their operations. While A Malcolm Housing Development Fund Corporation shows promise in specific areas, addressing these limitations is essential for improving their rating and overall impact on the community.
This AI summary has been generated from information found on Charity Navigator.
Is A Malcolm Housing Development Fund Corporation legitimate?
A Malcolm Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. A Malcolm Housing Development Fund 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: $83,525
For more financial information, click here
What is the mission statement of A Malcolm Housing Development Fund Corporation?
A Malcolm Housing Development Fund Corporation is dedicated to providing affordable housing solutions for the elderly and disabled. Specifically, they focus on offering HUD Section 202 housing, a program designed to cater to this demographic. Their mission is centered around ensuring the elderly and disabled have access to suitable living spaces, thereby enhancing their quality of life. By offering HUD Section 202 projects, they contribute to the community by providing a secure and supportive living environment for these individuals.
Who is the CEO of A Malcolm Housing Development Fund Corporation?
Granville Senior is the Secretary of A Malcolm Housing Development Fund Corporation.
What is the revenue of A Malcolm Housing Development Fund Corporation?
A Malcolm Housing Development Fund Corporation's revenue in 2022 was $559,076.
Who are the executives of A Malcolm Housing Development Fund Corporation and what are their salaries?
The average compensation at A Malcolm Housing Development Fund Corporation during 2022 was $27,842. There are 3 employees at A Malcolm Housing Development Fund Corporation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for A Malcolm Housing Development Fund Corporation?
A Malcolm Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of A Malcolm Housing Development Fund Corporation
A Malcolm Housing Development Fund Corporation is committed to providing housing solutions for the elderly and disabled. In line with this mission, the organization has focused on offering HUD Section 202 housing. This housing type is specifically designed to cater to the needs of this population, ensuring they have a safe and comfortable living environment. By providing HUD Section 202 housing, A Malcolm Housing Development Fund Corporation is making a significant contribution to the well-being of these individuals, enabling them to maintain their independence and dignity in their later years. The organization's efforts in this area demonstrate a strong commitment to social responsibility and community support.
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Impact
July, 2024
A Malcolm Housing Development Fund Corporation provides HUD Section 202 housing to the elderly and disabled in the Bronx, New York. Their impact is significant as they offer affordable and safe housing options for vulnerable populations who may struggle to find suitable accommodation elsewhere. This helps improve the quality of life for the elderly and disabled individuals in the community by ensuring they have access to appropriate housing options that meet their needs.
This information is meant to be a general summary of A Malcolm Housing Development Fund 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.
- Gross Receipts: $559,076
Assets and Liabilities:
- Total Assets: $4,917,836
- Total Liabilities: $5,756,380
- Net Assets: -$838,544
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOUSING FOR THE ELDERLY
Organization Details
Founding Year
2009
Principal Officer
Granville Senior
Main Address
1776 EASTCHESTER ROAD SUITE 210, Bronx, NY, 10461
NTEE Category
Code: L21 - Housing
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