Overview
What is Greater Newark Housing Partnership Inc?
Greater Newark Housing Partnership Inc is a nonprofit organization based in Newark, New Jersey, specifically located at 188 Jefferson Street 340, Newark, NJ 07105. Their primary mission is to develop affordable housing projects for individuals with low and moderate incomes, where suitable housing options are currently lacking. They achieve this by leveraging government-aided financing and other permanent funding, as permitted by relevant state and federal laws. The organization strives to alleviate housing-related issues for both Greater Newark and the State of New Jersey by fostering public-private cooperation in the development of affordable housing projects. Recently, Greater Newark Housing Partnership Inc initiated construction rehabilitation of homes and a park location in Newark's West Ward, funded by a construction loan and line of credit. They have also received $2.5 million for the Federal Neighborhood Stabilization Program (NSP I and NSP II). In collaboration with Regan Development, they recently broke ground on a mixed-use, affordable housing site with supportive housing tax credit building in Hudson County.
Official website here: www.gnhp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 37%
The Greater Newark Housing Partnership Inc has received a low rating of 37%, indicating significant areas of concern regarding its accountability and finance practices. The organization has earned a Zero-Star out of Four Star rating, reflecting critical issues such as a lack of independent board members and a concerning liabilities to assets ratio of 115.00%. This high ratio suggests that the organization may have financial stability challenges.
On a more positive note, the organization has policies in place for conflict of interest, whistleblower protection, and document retention, which are essential for good governance. Additionally, it has listed its website on its tax form, demonstrating some level of transparency. However, it falls short in providing available financial documents on its website, which detracts from its overall accountability.
Overall, while the Greater Newark Housing Partnership shows commitment to certain governance policies, the substantial weaknesses in its financial management and board independence raise red flags for potential donors and supporters. It is crucial for the organization to address these issues to improve its rating and instill greater confidence among its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Newark Housing Partnership Inc legitimate?
Greater Newark Housing Partnership Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Newark Housing Partnership 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
Official website here: www.gnhp.org
What is the mission statement of Greater Newark Housing Partnership Inc?
The Greater Newark Housing Partnership Inc's mission is to develop affordable housing projects for individuals with low and moderate income, where such housing is currently lacking. This initiative is funded through government-aided or permanent financing, as outlined in relevant state and federal statutes. The organization is empowered to take necessary actions to accomplish its objectives. In connection with these activities, the partnership aims to alleviate the burden of providing houses and addressing housing-related issues, both in Greater Newark and the state of New Jersey. This is achieved through seeking public-private cooperation in the development of affordable housing projects.
Official website here: www.gnhp.org
Who is the CEO of Greater Newark Housing Partnership Inc?
Adam Gold is the President Eff. 07/18/22 of Greater Newark Housing Partnership Inc.
Official website here: www.gnhp.org
What is the revenue of Greater Newark Housing Partnership Inc?
Greater Newark Housing Partnership Inc's revenue in 2022 was $33,500.
Official website here: www.gnhp.org
Who are the executives of Greater Newark Housing Partnership Inc and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $139,427
- Other: $13,569
- Compensation: $0
- Related: $176,138
- Other: $42,829
- Compensation: $0
- Related: $181,730
- Other: $27,853
- Compensation: $0
- Related: $93,823
- Other: $34,929
- Compensation: $0
- Related: $50,338
- Other: $12,616
- Compensation: $0
- Related: $253,604
- Other: $37,784
- Compensation: $0
- Related: $137,683
- Other: $13,242
Official website here: www.gnhp.org
Where can I find the form 990 for Greater Newark Housing Partnership Inc?
Greater Newark Housing Partnership Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gnhp.org
Learn more at the official website: www.gnhp.org
Mission Statement of Greater Newark Housing Partnership Inc
Greater Newark Housing Partnership Inc, as a nonprofit organization, is committed to addressing the housing needs of individuals with low and moderate income. Their mission is twofold: firstly, they aim to develop one or more housing projects where adequate housing is currently unavailable for such individuals. Secondly, they strive to lessen the burden of providing housing and related issues within Greater Newark and New Jersey as a whole. To accomplish these objectives, they seek public-private cooperation in the development of affordable housing, leveraging government-aided financing or other permanent funding sources, as outlined in relevant state and federal statutes. By undertaking these activities, Greater Newark Housing Partnership Inc aims to make a significant contribution towards alleviating the housing challenges faced by many individuals, thereby promoting a more equitable living environment.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
August, 2024
Greater Newark Housing Partnership Inc develops housing projects for low and moderate-income individuals where there is a lack of adequate housing. Their initiatives are funded by government aid and other permanent financing as provided for in relevant state and federal statutes. By seeking public-private cooperation, they aim to alleviate the burden of providing housing and address housing-related issues in both Greater Newark and the state of New Jersey. They have undertaken construction and rehabilitation projects in the West Ward of Newark, secured federal funding through the Neighborhood Stabilization Program, and partnered with developers to create mixed-use affordable housing sites with supportive services. Through these efforts, Greater Newark Housing Partnership Inc is making a tangible impact on affordable housing access and community development in the region.
This information is meant to be a general summary of Greater Newark Housing Partnership 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.
- Program Service Revenue: $33,500
- Gross Receipts: $33,500
Assets and Liabilities:
- Total Assets: $1,923,417
- Total Liabilities: $2,212,110
- Net Assets: -$288,693
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADVISORY/DEVELOPER FEE
Revenue
$33,500
Organization Details
Founding Year
2007
Phone
(973) 735-2154Principal Officer
Adam Gold
Main Address
188 JEFFERSON STREET 340, NEWARK, NJ, 07105
Website
www.gnhp.orgNTEE Category
Code: L21 - Housing
If you are a representative of Greater Newark Housing Partnership Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.