Overview
What is E Reyes Apartments Housing Development Fund Corporation?
E Reyes Apartments Housing Development Fund Corporation is a nonprofit organization situated in Brooklyn, New York, specifically at 434 South 5th Street. Their primary mission is dedicated to providing and maintaining affordable housing opportunities for individuals of low income. This mission encompasses tasks such as acquiring, rehabilitating, managing, leasing, maintaining, developing, and operating housing projects. The corporation currently manages 47 apartments and 4 commercial spaces, catering to this specific demographic.
Official website here: www.lossures.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
E Reyes Apartments Housing Development Fund Corporation has received a solid Three-Star rating from Charity Navigator, reflecting an 81% score based exclusively on its Accountability & Finance practices. This high score indicates a consistent commitment to maintaining transparency and financial integrity, which are essential for nonprofit organizations.
Strengths of the organization include having a fully independent board of directors, robust financial oversight through an Audit and Oversight Committee, and a strong track record of no material diversion of assets. Additionally, the charity has comprehensive policies in place, such as a conflict of interest policy and a whistleblower policy, which enhance its governance and accountability.
While the organization demonstrates excellent financial practices with a program expense ratio of 92.50%, the summary does not highlight any specific areas for improvement. Overall, the strong ratings in governance and financial management suggest a well-managed nonprofit focused on its mission.
This AI summary has been generated from information found on Charity Navigator.
Is E Reyes Apartments Housing Development Fund Corporation legitimate?
E Reyes Apartments Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. E Reyes Apartments 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:
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For more financial information, click here
Official website here: www.lossures.org
What is the mission statement of E Reyes Apartments Housing Development Fund Corporation?
The E Reyes Apartments Housing Development Fund Corporation is established with a specific purpose. It is organized primarily to acquire, renovate, manage, lease, maintain, develop, and operate housing projects for individuals with low income. The organization's mission is geared towards providing affordable housing, catering to a demographic in need. The corporation operates a total of 47 apartments and 4 commercial spaces, all aimed at providing comfortable living spaces for those who qualify for low-income housing.
Official website here: www.lossures.org
Who is the CEO of E Reyes Apartments Housing Development Fund Corporation?
Juan Ramos is the Board Member of E Reyes Apartments Housing Development Fund Corporation.
Official website here: www.lossures.org
What is the revenue of E Reyes Apartments Housing Development Fund Corporation?
E Reyes Apartments Housing Development Fund Corporation's revenue in 2022 was $742,388.
Official website here: www.lossures.org
Who are the executives of E Reyes Apartments Housing Development Fund Corporation and what are their salaries?
There 15 volunteers at E Reyes Apartments Housing Development Fund Corporation.
Here are 17 key members and their salaries:
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- Related: $140,848
- Other: $15,855
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- Related: $131,594
- Other: $15,855
Official website here: www.lossures.org
Where can I find the form 990 for E Reyes Apartments Housing Development Fund Corporation?
E Reyes Apartments Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lossures.org
Learn more at the official website: www.lossures.org
Mission Statement of E Reyes Apartments Housing Development Fund Corporation
E Reyes Apartments Housing Development Fund Corporation is an organization that is specifically established with the mission to own, rehabilitate, manage, lease, maintain, develop, and operate housing projects for individuals of low income. This nonprofit is dedicated to providing affordable living solutions for those who may not have the means to secure such accommodations on their own. By overseeing the operation of 47 apartments and 4 commercial spaces, E Reyes Apartments Housing Development Fund Corporation plays a vital role in making housing accessible and affordable for those who need it most. Through its efforts, this nonprofit is making a significant impact in the lives of individuals and families who may otherwise struggle to secure suitable housing.
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Impact
October, 2024
E Reyes Apartments Housing Development Fund Corporation plays a crucial role in addressing the housing needs of low-income individuals and families in Brooklyn, NY. By owning, rehabilitating, and managing 47 apartments, along with four commercial spaces, it provides affordable housing options that contribute to community stability and growth.
The organization’s commitment to maintaining and developing quality housing ensures that residents have access to safe and supportive living environments. This not only improves their quality of life but also fosters a sense of community among residents. Additionally, the presence of commercial spaces can enhance local economic activity, potentially creating jobs and services that benefit both tenants and the surrounding neighborhood.
The impact of E Reyes Apartments extends beyond mere housing; it contributes to the overall socio-economic upliftment of low-income households, allowing them to focus on other essential aspects of life such as education, healthcare, and employment. Through its operations, the corporation plays a vital role in combating housing insecurity and promoting a more equitable society.
This information is meant to be a general summary of E Reyes Apartments 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 2022.
- Investment Income: $3,280
- Program Service Revenue: $685,765
- Gross Receipts: $742,388
Assets and Liabilities:
- Total Assets: $2,361,742
- Total Liabilities: $3,145,802
- Net Assets: -$784,060
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$685,765
Organization Details
Founding Year
2009
Phone
(718) 387-3600Principal Officer
Juan Ramos
Main Address
434 SOUTH 5TH STREET, BROOKLYN, NY, 11211
Website
www.lossures.orgNTEE Category
Code: L21 - Housing
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