Overview
What is Reclaim Housing Development Fund Corporation?
Reclaim Housing Development Fund Corporation is a nonprofit organization situated in Bronx, New York, specifically at 2751 Grand Concourse, ZIP code 10468. Their primary focus is on the preservation and enhancement of housing, serving the local community in Bronx with affordability in mind. They manage ten buildings, providing homes to a total of 273 low and moderate-income tenants. Additionally, ten commercial units are part of their properties. Their mission is deeply rooted in the Bronx community, working tirelessly to enhance the living conditions and improve the overall quality of housing within the area.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 72%, Two-Star out of Four Star rating.
Reclaim Housing Development Fund Corporation has received a Two-Star rating from Charity Navigator, reflecting a score of 72%. This rating is primarily based on their accountability and finance practices, which indicate that while the organization performs well in several areas, there are significant concerns regarding their financial health, particularly the liabilities to assets ratio.
The organization demonstrates strengths such as having an entirely independent board and effective financial oversight measures, which are crucial for maintaining transparency and accountability. Furthermore, their program expense ratio is quite high at 98.55%, suggesting they allocate a significant portion of their resources towards their mission-driven activities.
However, the organization's liabilities to assets ratio of 77.95% raises concerns about their financial stability, indicating that a large percentage of their assets are tied up in liabilities. This could pose risks for future operations and sustainability. Overall, while Reclaim Housing Development Fund Corporation displays positive governance and accountability practices, its financial challenges could impact its long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Reclaim Housing Development Fund Corporation legitimate?
Reclaim Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Reclaim 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: $249,682
For more financial information, click here
What is the mission statement of Reclaim Housing Development Fund Corporation?
The Reclaim Housing Development Fund Corporation is committed to preserving and enhancing the quality of housing for low and moderate-income tenants. This mission is carried out through the management of 10 buildings, which house a total of 273 apartments and 10 commercial units. The organization's primary goal is to provide suitable living spaces and commercial facilities, contributing positively to the community.
Who is the CEO of Reclaim Housing Development Fund Corporation?
Jumelia Abrahamson is the Treasurer of Reclaim Housing Development Fund Corporation.
What is the revenue of Reclaim Housing Development Fund Corporation?
Reclaim Housing Development Fund Corporation's revenue in 2022 was $3,543,007.
Who are the executives of Reclaim Housing Development Fund Corporation and what are their salaries?
There 2 volunteers at Reclaim Housing Development Fund Corporation.
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Reclaim Housing Development Fund Corporation?
Reclaim Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Reclaim Housing Development Fund Corporation
Reclaim Housing Development Fund Corporation is dedicated to the preservation and improvement of housing in Bronx, New York. This nonprofit organization manages ten buildings, housing a total of 273 apartments designed for individuals and families with low to moderate incomes. Beyond providing residential units, Reclaim Housing Development Fund Corporation also oversees ten commercial units, contributing to the local community's economic vitality. By focusing on the preservation and improvement of housing, this organization plays a significant role in ensuring that a diverse range of residents in Bronx have access to safe and affordable living spaces.
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Impact
October, 2024
Reclaim Housing Development Fund Corporation significantly contributes to the preservation and improvement of housing in the Bronx, NY. By operating 10 buildings with a total of 273 apartment units, the organization provides essential housing options for low and moderate-income tenants, addressing critical needs in the community. Additionally, the inclusion of 10 commercial units promotes local economic growth and supports neighborhood vitality. The organization's efforts help to stabilize housing conditions, foster community development, and enhance the overall quality of life for residents in the Bronx.
This information is meant to be a general summary of Reclaim 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: $36,982
- Program Service Revenue: $3,506,025
- Gross Receipts: $3,543,007
Assets and Liabilities:
- Total Assets: $16,849,443
- Total Liabilities: $13,281,885
- Net Assets: $3,567,558
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,574,268
RENTAL INCOME - SECTION 8
Revenue
$437,815
RENTAL INCOME - COMMERCIAL
Revenue
$493,806
RENTAL INCOME - OTHER
Revenue
$136
Organization Details
Founding Year
2010
Phone
(718) 933-3101Principal Officer
Jumelia Abrahamson
Main Address
2751 Grand Concourse, Bronx, NY, 10468
NTEE Category
Code: L20 - Housing
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