Overview
What is 1854 Cedar Avenue Housing Development Fund Corp?
The 1854 Cedar Avenue Housing Development Fund Corp is a nonprofit organization situated in New York City, specifically at 17 Battery Place Suite 1326, New York, NY 10004. Its primary mission is to support the development of affordable housing projects for individuals with mental illness and low-income families. By providing essential resources, this organization aims to contribute to the construction of housing complexes catering to those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, earning it a Two-Star out of Four Star rating. The rating highlights significant concerns regarding accountability and financial practices within the organization. While it maintains a strong program expense ratio of 100%, indicating all expenses go towards its programs, other financial metrics, including a liabilities to assets ratio of 99.46%, raise red flags about its financial health.
The organization has a few strengths, including a strong audit and oversight committee, and it has implemented policies for conflict of interest, whistleblowing, and document retention, which are crucial for transparency and governance. However, weaknesses are evident in its board composition, with only 33% independent members, and it has not provided its tax form or website on required documentation, resulting in lost points in accountability measures.
Overall, while 1854 Cedar Avenue Housing Development Fund Corp demonstrates a commitment to program delivery, its governance structure and financial transparency present significant challenges. Stakeholders might consider these factors when assessing the organization's reliability and effectiveness in achieving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is 1854 Cedar Avenue Housing Development Fund Corp legitimate?
1854 Cedar Avenue Housing Development Fund Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. 1854 Cedar Avenue Housing Development Fund Corp 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 1854 Cedar Avenue Housing Development Fund Corp?
The 1854 Cedar Avenue Housing Development Fund Corp is committed to providing support for the development of housing projects. Their primary goal is to cater to individuals with low income, including those struggling with mental illness and low-income families. Through their efforts, they aim to make affordable housing an accessible reality for these groups, promoting community development and social equality. The organization serves as a vital resource, contributing to the overall well-being and livelihood of its target demographic by facilitating the construction and maintenance of affordable housing projects.
Who is the CEO of 1854 Cedar Avenue Housing Development Fund Corp?
Carolyn Hedigan is the Principal Officer of 1854 Cedar Avenue Housing Development Fund Corp.
What is the revenue of 1854 Cedar Avenue Housing Development Fund Corp?
1854 Cedar Avenue Housing Development Fund Corp's revenue in 2022 was $1,284,276.
Who are the executives of 1854 Cedar Avenue Housing Development Fund Corp and what are their salaries?
There 1 volunteer at 1854 Cedar Avenue Housing Development Fund Corp.
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $158,467
- Other: $21,222
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for 1854 Cedar Avenue Housing Development Fund Corp?
1854 Cedar Avenue Housing Development Fund Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 1854 Cedar Avenue Housing Development Fund Corp
1854 Cedar Avenue Housing Development Fund Corp is dedicated to providing support for the development of housing projects aimed at individuals of low income. The organization's mission is to ensure affordable housing is available for people struggling with mental illness and low-income families. By offering their expertise and resources, they strive to create housing solutions that cater to the specific needs of these vulnerable communities. The ultimate goal of 1854 Cedar Avenue Housing Development Fund Corp is to contribute to a more equitable society where everyone has access to safe and affordable housing, regardless of their financial situation or health status.
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Impact
October, 2024
1854 Cedar Avenue Housing Development Fund Corp plays a crucial role in addressing the housing needs of low-income individuals and families, particularly those grappling with mental illness. By providing essential support for the development of affordable housing projects, the organization helps create stable living environments for marginalized populations in New York. This not only promotes social equity but also positively impacts community health and wellbeing by reducing homelessness and providing safe shelter. Ultimately, their efforts enhance the quality of life for those in need, fostering a more inclusive and supportive community.
This information is meant to be a general summary of 1854 Cedar Avenue Housing Development Fund Corp. 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: $1,284,276
Assets and Liabilities:
- Total Assets: $13,646,473
- Total Liabilities: $13,580,640
- Net Assets: $65,833
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Organization Details
Founding Year
2008
Phone
(212) 780-1400Principal Officer
Carolyn Hedigan
Main Address
17 Battery Place Suite 1326, NEW YORK, NY, 10004
NTEE Category
Code: L21 - Housing
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