Overview
What is 1213 William Street Corporation?
1213 William Street Corporation is a nonprofit organization, established to adhere to the U.S. Department of Housing and Urban Development's requirements for Section 811 funding. Located in Key West, Florida, a region with high housing costs, the corporation's primary goal is to provide housing services for low-income individuals with disabilities. The organization ensures that tenants pay no more than 30% of their income towards rent and utilities, as most tenants rely on social security and disability benefits due to their inability to work. The corporation's affiliate, A.H. of Monroe County, Inc., offers additional support services to help the tenants maintain their health and quality of life. The organization operates as a single-purpose entity, initially funded by the U.S. Department of Housing and Urban Development, to acquire, renovate, and lease an apartment building for at least a one-year period.
Official website here: www.none
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Stars
The 1213 William Street Corporation has achieved an impressive 96% overall score, reflecting its strong accountability and financial health. The organization has received a Four-Star rating, indicating a high level of transparency and effective governance. Its score is derived entirely from its performance in the Accountability & Finance beacon, showcasing the organization's commitment to responsible financial practices.
The nonprofit boasts a fully independent board, comprised of 13 members, and has demonstrated excellent governance practices. Key policies, such as those addressing conflicts of interest and whistleblower protections, are well-documented and publicly available. Additionally, there have been no material diversions of assets, reinforcing the organization's integrity.
While the program expense ratio is commendable at 68.81%, indicating a significant portion of expenses directed towards programming, salaries for key personnel are relatively high, with the Executive Director earning $173,779. This might raise questions among some donors regarding compensation relative to the overall budget. Nevertheless, overall, the 1213 William Street Corporation is positioned as a trustworthy and financially sound organization.
This AI summary has been generated from information found on Charity Navigator.
Is 1213 William Street Corporation legitimate?
1213 William Street Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 1213 William Street 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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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.none
What is the mission statement of 1213 William Street Corporation?
The 1213 William Street Corporation's mission is centered around providing housing services for disabled individuals with low income. Originally funded by the U.S. Department of Housing and Urban Development, the organization acquired and renovated an apartment building to offer affordable living spaces. The apartments are leased to disabled low-income individuals for a minimum of one year, with their rent and utilities not exceeding 30% of their income. Tenants typically receive social security and disability income. The corporation's affiliate, A.H. of Monroe County, Inc., provides additional services to help tenants maintain their health and improve their quality of life. The organization's primary goal is to ensure that disabled individuals with low income have access to safe and affordable housing.
Official website here: www.none
What is the revenue of 1213 William Street Corporation?
1213 William Street Corporation's revenue in 2024 was $98,568.
Official website here: www.none
Who are the executives of 1213 William Street Corporation and what are their salaries?
There 13 volunteers at 1213 William Street Corporation.
Here are 16 key members and their salaries:
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- Related: $182,668
- Other: $20,037
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- Other: $35,682
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- Related: $92,804
- Other: $39,876
Official website here: www.none
Learn more at the official website: www.none
Mission Statement of 1213 William Street Corporation
1213 William Street Corporation, originally funded by the U.S. Department of Housing and Urban Development, is dedicated to providing housing services for disabled low-income individuals. Established to comply with federal Section 811 funding requirements, the organization acquires and renovates apartment buildings to lease out to these individuals for a minimum of one year. Due to the high cost of living, particularly in Key West, Florida, the need for such housing is significant. The corporation ensures that the rent and utilities for its tenants do not exceed 30% of their income, which is typically derived from social security and disability benefits, as most tenants are unable to work due to their disabilities. The corporation's affiliate, A.H. of Monroe County, Inc., provides additional services to tenants to help them maintain their health and quality of life.
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Impact
August, 2024
1213 William Street Corporation has a significant impact in providing housing services for disabled low-income individuals in Key West, Florida. By offering affordable housing options with rent and utilities capped at 30% of the tenants' income, the organization plays a crucial role in addressing the high cost of housing in the area. This ensures that disabled individuals with limited financial resources have access to a stable and comfortable living environment. Additionally, the corporation's affiliate, A.H. of Monroe County, Inc., provides valuable support services to tenants to help them maintain their health and overall quality of life. Through its mission-driven approach, 1213 William Street Corporation is making a positive difference in the lives of vulnerable individuals in the community.
This information is meant to be a general summary of 1213 William Street 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 2024.
- Investment Income: $457
- Program Service Revenue: $98,111
- Gross Receipts: $98,568
Assets and Liabilities:
- Total Assets: $524,087
- Total Liabilities: $101,537
- Net Assets: $422,550
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE
Revenue
$93,012
TENANT RENTAL INCOME
Revenue
$2,625
UTILITY REIMBURSEMENT
Revenue
$2,474
Organization Details
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