Overview
What is Grand Street Settlement Senior Housing Development Fund?
Grand Street Settlement Senior Housing Development Fund is a nonprofit organization situated in New York, specifically at 152 WEST 57TH STREET, 18 FLOOR. Their primary mission is to offer affordable housing options for low-income elderly individuals. They accomplish this through two housing programs: HUD Section 202 and HUD Section 8. The HUD Section 202 program provides rental units for eligible seniors, while HUD Section 8 helps subsidize the rent for these residents, ensuring they can maintain a comfortable living situation. The organization's focus on affordable housing for the elderly contributes significantly to the community, providing a safe and supportive living environment for this demographic.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% - Three-Star out of Four Star Rating
Grand Street Settlement Senior Housing Development Fund has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and finance management within the organization. The overall score reflects a strong performance in several key areas, particularly in governance, where the organization boasts a fully independent board and effective oversight mechanisms.
The organization's strengths include a high program expense ratio of 86.57%, suggesting that a significant portion of its resources is directed toward fulfilling its mission. Additionally, the presence of comprehensive policies regarding conflict of interest, whistleblower protections, and proper document management demonstrates a commitment to transparency and ethical governance.
However, the liabilities to assets ratio of 132.08% raises some concerns regarding financial stability, as this indicates that liabilities exceed assets. While the organization showcases strong governance practices, addressing this financial ratio may be necessary to improve its overall fiscal health and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Grand Street Settlement Senior Housing Development Fund legitimate?
Grand Street Settlement Senior Housing Development Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Grand Street Settlement Senior Housing Development Fund 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: $198,534
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What is the mission statement of Grand Street Settlement Senior Housing Development Fund?
The Grand Street Settlement Senior Housing Development Fund's mission is centered around providing affordable housing opportunities for low-income elderly individuals. Through their initiatives, they offer rental units from a 75-unit apartment complex, utilizing funding from the U.S. Department of Housing and Urban Development's Section 202 and Section 8 programs. Their primary goal is to ensure that this vulnerable population has a secure and affordable place to live.
Who is the CEO of Grand Street Settlement Senior Housing Development Fund?
Patricia Brennan is the President of Grand Street Settlement Senior Housing Development Fund.
What is the revenue of Grand Street Settlement Senior Housing Development Fund?
Grand Street Settlement Senior Housing Development Fund's revenue in 2023 was $2,043,249.
Who are the executives of Grand Street Settlement Senior Housing Development Fund and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Grand Street Settlement Senior Housing Development Fund?
Grand Street Settlement Senior Housing Development Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Grand Street Settlement Senior Housing Development Fund
Grand Street Settlement Senior Housing Development Fund is committed to providing affordable housing for low-income elderly individuals. With a focus on this demographic, the organization aims to offer them a safe and comfortable living space. This is achieved through the operation of a 75-unit apartment complex, which is funded under HUD Section 202 and HUD Section 8 programs. By providing these rental units, Grand Street Settlement Senior Housing Development Fund ensures that elderly individuals with limited income have access to decent housing. This mission is a significant contribution towards ensuring the well-being and dignity of this vulnerable population.
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Impact
July, 2024
Grand Street Settlement Senior Housing Development Fund's impact is significant in providing affordable housing for low-income elderly individuals in New York. Through rentals from a 75-unit apartment complex under HUD Section 202 and HUD Section 8, this organization ensures that elderly individuals with limited financial resources have access to safe and affordable housing. By fulfilling its mission of providing housing for low-income elderly individuals, Grand Street Settlement Senior Housing Development Fund plays a crucial role in addressing the housing needs of this vulnerable population.
This information is meant to be a general summary of Grand Street Settlement Senior Housing Development Fund. 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 2023.
- Investment Income: $16,591
- Program Service Revenue: $2,026,658
- Gross Receipts: $2,043,249
Assets and Liabilities:
- Total Assets: $8,565,169
- Total Liabilities: $11,313,587
- Net Assets: -$2,748,418
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,025,596
LAUNDRY & VENDING
Revenue
$1,062
Organization Details
Founding Year
2002
Phone
(212) 225-8093Principal Officer
Patricia Brennan
Main Address
152 WEST 57TH STREET 18 FLOOR, NEW YORK, NY, 10019
NTEE Category
Code: L20 - Housing
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