Overview
What is Passaic Affordable Housing Coalition?
Passaic Affordable Housing Coalition is a dedicated nonprofit organization situated in Passaic, New Jersey, at 183 Autumn Street. Their primary mission is to acquire, redevelop, or rehabilitate distressed properties and make them available for purchase or rental to families with moderate or low income. By doing so, they contribute to the city's housing landscape and provide affordable living solutions. The Coalition operates under the supervision of relevant authorities, ensuring their activities adhere to all necessary standards.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
The Passaic Affordable Housing Coalition has received a commendable Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. The organization achieved a remarkable score of 94% in the Accountability & Finance category, which is crucial for building trust with donors and ensuring that funds are effectively utilized for their mission.
One of the strengths of the organization is its governance structure, which boasts 85% independent board members. This independence promotes transparency and reduces potential conflicts of interest, supported by the presence of a well-documented conflict of interest policy. Additionally, the Coalition has implemented various policies such as a whistleblower policy and a document retention policy, further demonstrating its dedication to ethical practices.
Financially, the Passaic Affordable Housing Coalition maintains a healthy balance between its assets and liabilities, with a liabilities to assets ratio of 46.52%. They also allocate a significant portion of their budget, 75.28%, towards program expenses, indicating a strong focus on fulfilling their mission of providing affordable housing solutions. Overall, the Coalition's robust financial practices and commitment to accountability highlight its effectiveness as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Passaic Affordable Housing Coalition legitimate?
Passaic Affordable Housing Coalition is a legitimate nonprofit organization registered as a 501(c)(3) entity. Passaic Affordable Housing Coalition 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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Professional Fundraising Fees: $0
Other Salaries and Wages: $250,166
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What is the mission statement of Passaic Affordable Housing Coalition?
The Passaic Affordable Housing Coalition's mission is centered around acquiring distressed properties, either by redeveloping or rehabilitating them, and then making them available for sale or rent to families with low or moderate income. This organization aims to contribute to housing affordability, providing a much-needed solution for these income groups. By operating these properties, the Coalition seeks to provide a viable housing option, thereby contributing to the overall well-being of the community.
Who is the CEO of Passaic Affordable Housing Coalition?
Vincent Wynter is the Chairman of Passaic Affordable Housing Coalition.
What is the revenue of Passaic Affordable Housing Coalition?
Passaic Affordable Housing Coalition's revenue in 2022 was $543,036.
Who are the executives of Passaic Affordable Housing Coalition and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Passaic Affordable Housing Coalition?
Passaic Affordable Housing Coalition's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Passaic Affordable Housing Coalition
The Passaic Affordable Housing Coalition is an organization dedicated to acquiring distressed properties, redeveloping or rehabilitating them, and subsequently selling or renting them to low or moderate-income families. Their mission is to contribute positively to the community by providing affordable housing solutions, thereby making a significant impact on the lives of those in need. By operating these properties, the Coalition offers homes to families who may otherwise struggle to afford housing, thereby promoting social stability and fostering a sense of community.
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Impact
July, 2024
Passaic Affordable Housing Coalition's impact lies in its operation of distressed properties for low to moderate-income families in Passaic, NJ. The organization acquires these properties, redevelops or rehabilitates them, and then sells or rents them to families in need. Through these efforts, the Passaic Affordable Housing Coalition directly addresses the pressing issue of affordable housing in the city, providing opportunities for those who might otherwise struggle to find suitable housing options.
This information is meant to be a general summary of Passaic Affordable Housing Coalition. 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: $85
- Program Service Revenue: $233,980
- Gross Receipts: $543,036
Assets and Liabilities:
- Total Assets: $1,595,139
- Total Liabilities: $742,109
- Net Assets: $853,030
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$150,000
RENTAL INCOME
Revenue
$83,980
Organization Details
Founding Year
2008
Phone
(973) 583-5564Principal Officer
Vincent Wynter
Main Address
183 AUTUMN STREET, PASSAIC, NJ, 07055
NTEE Category
Code: L20 - Housing
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