Overview
What is Stanton Norfolk Inc?
Stanton Norfolk Inc, based in New York City, is a nonprofit organization dedicated to promoting, preserving, managing, and maintaining affordable housing. They provide assistance to tenants in obtaining and maintaining government and private housing aid, acting as a liaison between tenants and building owners, and devising solutions to help tenants overcome financial or other challenges to avoid eviction. The organization currently oversees over 900 affordable housing units in Lower Manhattan and Queens. Additionally, Stanton manages housing developments for Asian Americans for Equality, Inc. (AAFE), overseeing over 500 affordable housing units in Lower Manhattan. Beyond housing, Stanton also offers support for small businesses that benefit the community and coordinates related tenant services. With a team of 78 employees, Stanton Norfolk Inc. strives to enhance the living conditions and opportunities for individuals and families in need of affordable housing.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 79%, Three-Star out of Four Star rating.
Stanton Norfolk Inc has received a Three-Star rating, reflecting a solid performance in accountability and finance. The overall score is derived entirely from its accountability and finance metrics, which indicates a strong commitment to financial transparency and responsible management practices. The organization scored particularly well in critical areas such as financial statement audits, material diversion of assets, and the existence of essential policies like conflict of interest and whistleblower policies.
The charity's financial health appears robust, with a program expense ratio of 73.87%, demonstrating a significant portion of its budget dedicated to programmatic activities. The liabilities to assets ratio of 24.48% further suggests that the organization maintains a stable financial position with manageable liabilities.
Despite these strengths, the single beacon score may suggest limited diversity in the areas of evaluation. Future assessments that include more comprehensive metrics could provide a fuller picture of the nonprofit's overall effectiveness and impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Stanton Norfolk Inc legitimate?
Stanton Norfolk Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Stanton Norfolk 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: $177,261
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,326,785
For more financial information, click here
What is the mission statement of Stanton Norfolk Inc?
Stanton Norfolk Inc, as an organization, is committed to promoting, preserving, managing, and maintaining affordable housing. Their mission extends beyond this, as they also provide assistance and space for small businesses that positively impact the community. Furthermore, they coordinate related tenant services to ensure the smooth operation of the affordable housing units they oversee. Currently, Stanton manages over 900 affordable housing units in various locations. Their role includes acting as a liaison between tenants and building owners, offering tenant assistance, property administration, rental management, repairs, and staff supervision.
Who is the CEO of Stanton Norfolk Inc?
Thomas Yu is the Senior Director Asset & Pr of Stanton Norfolk Inc.
What is the revenue of Stanton Norfolk Inc?
Stanton Norfolk Inc's revenue in 2022 was $4,641,919.
Who are the executives of Stanton Norfolk Inc and what are their salaries?
The average compensation at Stanton Norfolk Inc during 2022 was $32,103. There are 78 employees at Stanton Norfolk Inc.
Here are 6 key members and their salaries:
- Compensation: $163,579
- Related: $0
- Other: $13,682
- Compensation: $0
- Related: $160,060
- Other: $40,689
- Compensation: $0
- Related: $142,982
- Other: $43,741
- Compensation: $0
- Related: $268,262
- Other: $53,542
- Compensation: $0
- Related: $63,837
- Other: $1,921
- Compensation: $0
- Related: $96,262
- Other: $10,776
Where can I find the form 990 for Stanton Norfolk Inc?
Stanton Norfolk Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Stanton Norfolk Inc
Stanton Norfolk Inc, a nonprofit organization, is committed to promoting, preserving, managing, and maintaining affordable housing. Their mission extends beyond just providing housing; they also offer assistance and space for small businesses that contribute positively to the community. Furthermore, Stanton Norfolk Inc coordinates related tenant services, ensuring the smooth operation of over 900 affordable housing units located in Lower Manhattan and Queens. By overseeing these housing developments and offering necessary support, the organization helps individuals and families in need of affordable housing, contributing to a more inclusive and equitable community.
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Impact
October, 2024
Stanton Norfolk Inc significantly influences the landscape of affordable housing in New York, particularly in Lower Manhattan and Queens. By overseeing more than 900 affordable housing units, Stanton plays a crucial role in promoting and preserving essential living spaces for individuals and families facing economic challenges. This organization acts as a vital link between tenants and property owners, providing assistance to tenants in securing and maintaining eligibility for various housing assistance programs.
Stanton’s proactive approach includes crafting solutions to help tenants navigate financial difficulties and avoid eviction, thus ensuring stability within the community. The comprehensive management of housing developments not only enhances the living conditions of residents but also fosters a sense of community and support among tenants. Additionally, Stanton’s commitment to coordinating tenant services and supporting small businesses contributes to the overall vitality and sustainability of neighborhoods in which it operates. Through its efforts, Stanton Norfolk Inc stands as a pillar of support and development, directly impacting the quality of life for countless residents in New York City.
This information is meant to be a general summary of Stanton Norfolk 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: $20
- Program Service Revenue: $3,971,917
- Gross Receipts: $4,641,919
Assets and Liabilities:
- Total Assets: $5,562,206
- Total Liabilities: $1,361,964
- Net Assets: $4,200,242
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTY MGMT FEES
Revenue
$2,757,618
COMMERCIAL RENT
Revenue
$841,403
RESTORATION AND REPAIR
Revenue
$309,146
LOANS INTEREST INCOME
Revenue
$63,750
Organization Details
Founding Year
2008
Phone
(212) 477-2265Principal Officer
Thomas Yu
Main Address
141 NORFOLK ST GROUND FLOOR, NEW YORK, NY, 10002
NTEE Category
Code: L21 - Housing
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