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Great Falls Housing Corporation

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 272230034 ✦ Paterson, NJ ✦ Designated as a 501(c)(3)

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Overview

What is Great Falls Housing Corporation?

Great Falls Housing Corporation, situated in Paterson, New Jersey, serves as a community housing development organization. Their primary mission is to foster affordable housing for charitable purposes. As a dedicated entity, they strive to make a significant impact in their city by providing affordable living solutions. Their activities are centered around the creation of affordable housing, contributing positively to the community.

What are the reviews and ratings of this charity?

Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star Rating)

Great Falls Housing Corporation has received a Two-Star rating from Charity Navigator, indicating that the organization has room for improvement in its operations and governance. With an overall score of 74%, it reflects some solid financial practices, particularly a program expense ratio of 100%, which suggests that all expenses are directed towards its mission. However, the organization is lacking in transparency, as evidenced by its missing website on the tax form and tax form documentation on its website.

One notable strength is the absence of material diversion of assets, earning a perfect score in that area. The organization also has established conflict of interest and whistleblower policies, which are essential for maintaining accountability. However, the board's governance appears weak, with only 33% independent members and a size of just one independent member, which raises concerns about its oversight capabilities.

Overall, while Great Falls Housing Corporation demonstrates a commitment to its mission through its financial allocations, challenges remain in its governance structure and transparency efforts. Addressing these limitations could enhance its accountability and effectiveness in serving the community.


This AI summary has been generated from information found on Charity Navigator.

Is Great Falls Housing Corporation legitimate?

Great Falls Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Great Falls Housing 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

For more financial information, click here

What is the mission statement of Great Falls Housing Corporation?

The Great Falls Housing Corporation serves as a community housing development organization, with its primary mission being the creation of affordable housing. Located in an unspecified location, this organization is committed to making housing more accessible for those in need, specifically in the city they operate in. Their activities are geared towards providing affordable housing for charitable purposes, contributing to the betterment of the community by addressing the housing needs of its inhabitants.

Who is the CEO of Great Falls Housing Corporation?

Robert Guarasci is the Chair/President of Great Falls Housing Corporation.

What is the revenue of Great Falls Housing Corporation?

Great Falls Housing Corporation's revenue in 2022 was $559,720.

Who are the executives of Great Falls Housing Corporation and what are their salaries?

There 3 volunteers at Great Falls Housing Corporation.


Here are 3 key members and their salaries:


Robert F Guarasci (Chair/President)
  • Compensation: $0
  • Related: $254,685
  • Other: $12,436
Martin Vergara (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael Cassidy (Secretary/Treasurer)
  • Compensation: $0
  • Related: $141,040
  • Other: $323
Where can I find the form 990 for Great Falls Housing Corporation?

Great Falls Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Great Falls Housing Corporation

Great Falls Housing Corporation, as a community housing development organization, is committed to a noble mission. Their primary goal is to create affordable housing opportunities within the city, contributing positively to the community. By focusing on charitable purposes, they strive to make housing more accessible for individuals who might otherwise struggle with high costs. This organization's mission is instrumental in addressing the housing needs of various segments of society, thereby promoting social equality and stability.

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Impact




July, 2024

Great Falls Housing Corporation's impact can be seen in the creation of affordable housing in the city of Paterson, New Jersey. By serving as a community housing development organization, Great Falls Housing Corporation works towards its mission of providing affordable housing options for residents in need. Through their programs and initiatives, they contribute to addressing the issue of housing affordability in Paterson, thereby enhancing the quality of life for individuals and families in the community. Their dedication to this cause helps to improve housing stability and accessibility for those facing financial challenges.




This information is meant to be a general summary of Great Falls Housing 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.

Revenue
$559,720 (2022)
Expenses
$622,578 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $191
  • Program Service Revenue: $342,592
  • Gross Receipts: $575,450

Assets and Liabilities:

  • Total Assets: $8,324,639
  • Total Liabilities: $4,127,712
  • Net Assets: $4,196,927

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

PROGRAM INCOME

Revenue

$342,592

Organization Details

Founding Year

2009

Principal Officer

Robert Guarasci

Main Address

PO BOX 6976, PATERSON, NJ, 07509

NTEE Category

Code: L21 - Housing

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