Overview
What is Sag Harbor Community Housing Trust Inc?
Sag Harbor Community Housing Trust Inc is a charitable organization based in Sag Harbor, New York. Its primary mission is to foster the development of affordable workforce housing within the community. This includes acquiring, owning, and leasing property, as well as constructing, rehabilitating, managing, maintaining, and operating affordable housing units. The trust provides financial assistance and guidance to homeowners, prospective home buyers, and tenants, aiming to make housing more accessible and affordable. Its work is centered around promoting the development and operation of high-quality, affordable housing that meets the needs of the Sag Harbor community. The organization currently employs 1 individual.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating
The Sag Harbor Community Housing Trust Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial health. The organization scored 94% in its Accountability & Finance metrics, indicating robust governance and transparency practices. With an independent board comprising entirely of independent members, they demonstrate a solid governance structure that enhances trust and integrity.
Strengths of the organization include a high program expense ratio of 98.16%, showing that nearly all of its expenditures are directed towards achieving its mission. Additionally, there are no material diversions of assets reported, and they maintain comprehensive policies on conflict of interest, whistleblower protections, and document retention. This commitment to effective management and operational efficiency positions them favorably in the nonprofit sector.
However, while the financial metrics are strong, detailed qualitative feedback from beneficiaries or the community served is not included in the available data. This absence may limit a fuller understanding of the organization's impact and effectiveness on the ground. Overall, the Sag Harbor Community Housing Trust appears to be a responsible and efficient entity focused on its housing mission.
This AI summary has been generated from information found on Charity Navigator.
Is Sag Harbor Community Housing Trust Inc legitimate?
Sag Harbor Community Housing Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sag Harbor Community Housing Trust 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: $24,120
For more financial information, click here
What is the mission statement of Sag Harbor Community Housing Trust Inc?
The Sag Harbor Community Housing Trust Inc is established for a charitable purpose, aiming to create a community housing trust. Its primary objective is to acquire land, construct, rehabilitate, lease, manage, maintain, develop, and operate affordable workforce housing. The trust also provides financial assistance and guidance to homeowners, purchasers, and tenants, as well as landlords, in relation to purchasing, financing, maintaining, constructing, or renting their homes. Furthermore, the trust works towards promoting the development, construction, or rental, rehabilitation, management, maintenance, and operation of affordable, quality workforce housing that caters to the needs of the community.
Who is the CEO of Sag Harbor Community Housing Trust Inc?
Gregory N Ferraris Cpa is the Director of Sag Harbor Community Housing Trust Inc.
What is the revenue of Sag Harbor Community Housing Trust Inc?
Sag Harbor Community Housing Trust Inc's revenue in 2022 was $162,086.
Who are the executives of Sag Harbor Community Housing Trust Inc and what are their salaries?
The average compensation at Sag Harbor Community Housing Trust Inc during 2022 was $24,120. There is 1 employee at Sag Harbor Community Housing Trust Inc.
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 Sag Harbor Community Housing Trust Inc?
Sag Harbor Community Housing Trust Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Sag Harbor Community Housing Trust Inc
Sag Harbor Community Housing Trust Inc is established with a charitable purpose to create a Community Housing Trust. This organization aims to acquire land, construct, rehabilitate, lease, manage, maintain, develop, and operate affordable workforce housing. Sag Harbor Community Housing Trust Inc provides financial assistance and guidance to homeowners, prospective home buyers, and tenants, assisting them in the purchase, financing, maintenance, construction, or rent of their homes. The trust's mission is also to promote the development, construction, or rental, rehabilitation, management, maintenance, and operation of affordable, high-quality workforce housing that caters to the needs of the Sag Harbor community.
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Impact
October, 2024
Sag Harbor Community Housing Trust Inc significantly influences the local housing landscape by developing and managing affordable workforce housing. Its efforts are focused on addressing the critical need for accessible and quality housing options in the community. The Trust actively acquires land and rehabilitates properties, ensuring that residents can find stable housing that meets their needs.
By providing financial assistance and guidance, the Trust empowers prospective homeowners and renters to navigate the complexities of purchasing and maintaining homes. This support not only facilitates home ownership but also enhances the overall quality of life for residents, promoting community stability and growth.
Additionally, the Trust collaborates with stakeholders to promote the development and rental of affordable housing, further strengthening its commitment to fostering a diverse and inclusive community. The overall impact encompasses not just housing availability, but also the social and economic well-being of the Sag Harbor community, ultimately contributing to a thriving environment for all residents.
This information is meant to be a general summary of Sag Harbor Community Housing Trust 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: $1,530
- Program Service Revenue: $160,556
- Gross Receipts: $162,086
Assets and Liabilities:
- Total Assets: $3,094,029
- Total Liabilities: $716,989
- Net Assets: $2,377,040
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$128,778
INCLUSIONARY ZONING FEES
Revenue
$31,778
Organization Details
Founding Year
2008
Phone
(631) 725-0145Principal Officer
Gregory N Ferraris Cpa
Main Address
PO BOX 143, SAG HARBOR, NY, 11963
NTEE Category
Code: L80 - Housing
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