Overview
What is Reclaim Round Ii Housing Development Fund Corporation?
Reclaim Round II Housing Development Fund Corporation is a nonprofit organization situated in the Bronx, New York, specifically at 2751 Grand Concourse, 10468. Their primary mission revolves around preserving and enhancing housing in the Bronx area. They manage four buildings, providing 161 apartment units for low- and moderate-income tenants, in addition to four community-rental spaces. Their commitment is to improving the housing situation in the Bronx, providing essential living spaces for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating
Reclaim Round II Housing Development Fund Corporation has achieved a solid Three-Star rating from Charity Navigator, indicating a good level of transparency and accountability. The organization scores a perfect 100% in Accountability & Finance, showcasing strong governance practices including a fully independent board and comprehensive financial oversight. Additionally, their program expense ratio is extremely high at 98.67%, demonstrating a commitment to directing funds towards their mission.
However, the organization does face a notable concern regarding its liabilities to assets ratio, which stands at 113.70%. This suggests a potential financial risk that could impact its long-term sustainability. While the charity has established policies for conflict of interest, whistleblowing, and document retention, the high liabilities could warrant closer scrutiny from potential donors and stakeholders to ensure that the organization can meet its obligations effectively.
Overall, while Reclaim Round II Housing Development Fund Corporation demonstrates strong financial practices and commitment to its mission, the financial health indicated by the liabilities may require attention to maintain its operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Reclaim Round Ii Housing Development Fund Corporation legitimate?
Reclaim Round Ii Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Reclaim Round Ii 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: $143,452
For more financial information, click here
What is the mission statement of Reclaim Round Ii Housing Development Fund Corporation?
The Reclaim Round II Housing Development Fund Corporation's mission is centered around preserving and enhancing housing facilities. Specifically, their focus is on the Bronx area, where they manage four buildings housing 161 low-income and moderate-income tenants. Additionally, they manage four community rental spaces. Their primary objective is to maintain and improve these housing units, ensuring they remain suitable and accessible for their residents.
Who is the CEO of Reclaim Round Ii Housing Development Fund Corporation?
Joseph P Muriana is the Secretary of Reclaim Round Ii Housing Development Fund Corporation.
What is the revenue of Reclaim Round Ii Housing Development Fund Corporation?
Reclaim Round Ii Housing Development Fund Corporation's revenue in 2022 was $2,078,418.
Who are the executives of Reclaim Round Ii Housing Development Fund Corporation and what are their salaries?
There 3 volunteers at Reclaim Round Ii 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 Round Ii Housing Development Fund Corporation?
Reclaim Round Ii Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Reclaim Round Ii Housing Development Fund Corporation
Reclaim Round II Housing Development Fund Corporation is dedicated to the preservation and enhancement of housing in the Bronx, New York. This nonprofit organization manages four buildings, providing a total of 161 apartment units for tenants with low-to-moderate incomes. Beyond housing, Reclaim Round II also offers four community-rental spaces.
In essence, the mission of Reclaim Round II Housing Development Fund Corporation revolves around upkeeping and enhancing the quality of housing for individuals with limited financial means. By managing these buildings and spaces, the organization contributes to the overall well-being of the community, ensuring that residents have safe and comfortable living environments. The corporation's activities extend beyond mere property management, as it also provides amenities and facilities that cater to the needs of its tenants, contributing to their overall quality of life.
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Impact
October, 2024
Reclaim Round II Housing Development Fund Corporation plays a crucial role in the housing landscape of the Bronx, NY, by focusing on the preservation and improvement of housing for low- and moderate-income residents. By operating four buildings with a total of 161 apartment units, it directly addresses the need for affordable housing in a city where such resources are often scarce.
In addition to providing housing, the organization manages four community-rental spaces, which can facilitate local businesses and enhance the economic vitality of the neighborhood. The impact extends beyond mere housing availability; it fosters community engagement and stability, contributing to a healthier urban environment.
Through its efforts, Reclaim Round II not only helps to maintain existing housing stock but also supports the well-being of its tenants by ensuring they have access to safe and improved living conditions. This commitment to housing preservation and improvement serves as a vital support system for families and individuals striving for a better quality of life in the Bronx.
This information is meant to be a general summary of Reclaim Round Ii 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: $144,820
- Program Service Revenue: $1,933,598
- Gross Receipts: $2,078,418
Assets and Liabilities:
- Total Assets: $14,212,266
- Total Liabilities: $16,072,292
- Net Assets: -$1,860,026
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME - TENANT
Revenue
$1,449,123
RENTAL SUBSIDIARY - SECTION 8
Revenue
$484,475
Organization Details
Founding Year
2011
Phone
(718) 933-3101Principal Officer
Joseph P Muriana
Main Address
2751 Grand Concourse, Bronx, NY, 10468
NTEE Category
Code: L21 - Housing
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