Overview
What is Fac Advance Housing Development Fund Corporation?
Fac Advance Housing Development Fund Corporation is a nonprofit organization situated in Brooklyn, New York. Its primary mission is to provide affordable housing for qualified low-income individuals in the area. The organization owns, develops, and operates apartment buildings, leasing out a total of 12 units annually. By doing so, it contributes to the housing needs of the local community.
Official website here: www.fifthave.org
Is Fac Advance Housing Development Fund Corporation legitimate?
Fac Advance Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Fac Advance 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: $0
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Official website here: www.fifthave.org
What is the mission statement of Fac Advance Housing Development Fund Corporation?
The Fac Advance Housing Development Fund Corporation's mission is centered around providing housing solutions. The organization strives to own, develop, and manage apartment buildings specifically for individuals with low income. This mission is carried out with a focus on the Brooklyn, New York area. The organization's goal is to make a significant impact in the lives of these individuals by providing them with suitable residential spaces. During the year, these apartments were leased out, furthering the organization's mission of providing affordable housing solutions.
Official website here: www.fifthave.org
What is the revenue of Fac Advance Housing Development Fund Corporation?
Fac Advance Housing Development Fund Corporation's revenue in 2023 was $321,980.
Official website here: www.fifthave.org
Who are the executives of Fac Advance Housing Development Fund Corporation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $233,154
- Other: $10,691
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.fifthave.org
Where can I find the form 990 for Fac Advance Housing Development Fund Corporation?
Fac Advance Housing Development Fund Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.fifthave.org
Learn more at the official website: www.fifthave.org
Mission Statement of Fac Advance Housing Development Fund Corporation
Fac Advance Housing Development Fund Corporation is an organization committed to serving qualified low-income individuals. Their primary mission is to own, develop, and operate apartment buildings in various locations, as indicated in this case, within the Brooklyn, New York area. Their ultimate goal is to provide housing solutions for those who fall under this income category. Throughout the year, they lease out a total of 12 apartments to meet the housing needs of their intended clientele.
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Impact
October, 2024
Fac Advance Housing Development Fund Corporation significantly impacts the Brooklyn community by providing affordable housing options for qualified low-income individuals. By owning, developing, and operating apartment buildings, the organization addresses the critical need for accessible housing in a rapidly changing urban environment.
With a portfolio that includes 12 leased apartments, it directly supports individuals and families who might struggle to find suitable living accommodations due to economic constraints. This initiative not only alleviates housing insecurity but also fosters a sense of community and stability for residents. By focusing on low-income populations, the corporation plays a vital role in enhancing the social fabric of Brooklyn, contributing to more diverse and inclusive neighborhoods.
This information is meant to be a general summary of Fac Advance 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 2023.
- Investment Income: $50
- Program Service Revenue: $301,165
- Gross Receipts: $321,980
Assets and Liabilities:
- Total Assets: $3,180,424
- Total Liabilities: $4,304,017
- Net Assets: -$1,123,593
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$301,165
Organization Details
Founding Year
2008
Principal Officer
Michelle De La Uz
Website
www.fifthave.orgNTEE Category
Code: L20 - Housing
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