Overview
What is St Mark Affordable Housing Devlop Fund Corporation?
St. Mark Affordable Housing Development Fund Corporation is a nonprofit organization that focuses on providing low-income housing apartments. Their primary mission is to contribute to the housing sector, catering to individuals who may have limited financial resources. The organization's operations revolve around managing affordable housing apartments, offering a vital service in addressing housing inequality. The details provided do not specify any additional programs, resources, or initiatives the organization may offer.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77%, Three-Star out of Four Star rating.
St Mark Affordable Housing Development Fund Corporation has achieved a score of 77%, reflecting solid accountability and finance practices. The organization demonstrates strong governance as evidenced by its fully independent board, with 8 out of 8 points awarded for having majority independent members. Additionally, the organization has robust policies in place for audits, conflicts of interest, and whistleblower protections.
Despite its strengths, the organization faces challenges with its financial stability, indicated by a liabilities to assets ratio of 119.30%, which resulted in a score of 0 out of 15 points in that category. However, it maintains a commendable program expense ratio of 78.68%, showcasing effective allocation of funds towards its mission. Overall, while St Mark Affordable Housing Development Fund Corporation exhibits effective governance and program spending, attention to its financial liabilities is essential for sustained operation and growth.
This AI summary has been generated from information found on Charity Navigator.
Is St Mark Affordable Housing Devlop Fund Corporation legitimate?
St Mark Affordable Housing Devlop Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Mark Affordable Housing Devlop 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: $248,201
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What is the mission statement of St Mark Affordable Housing Devlop Fund Corporation?
St. Mark Affordable Housing Development Fund Corporation's primary mission is focused on providing low-income housing facilities. In carrying out this mission, the corporation operates apartments that cater to individuals with limited financial resources. The organization's primary objective is to contribute to the housing needs of this demographic, ensuring they have access to suitable living spaces. The corporation does not provide a detailed mission statement, but its activities clearly indicate its commitment to affordable housing.
Who is the CEO of St Mark Affordable Housing Devlop Fund Corporation?
Beverly Jules is the President of St Mark Affordable Housing Devlop Fund Corporation.
What is the revenue of St Mark Affordable Housing Devlop Fund Corporation?
St Mark Affordable Housing Devlop Fund Corporation's revenue in 2022 was $1,853,732.
Who are the executives of St Mark Affordable Housing Devlop Fund Corporation and what are their salaries?
Here are 17 key members and their salaries:
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Where can I find the form 990 for St Mark Affordable Housing Devlop Fund Corporation?
St Mark Affordable Housing Devlop Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of St Mark Affordable Housing Devlop Fund Corporation
St. Mark Affordable Housing Development Fund Corporation is dedicated to providing low-income housing apartments. Their mission is centered around making a significant impact in the lives of individuals and families who may be financially disadvantaged, offering them a secure and affordable living space. The organization's primary objective is to operate and manage these apartments, ensuring that they remain accessible and affordable for those who need them most. By doing so, St. Mark Affordable Housing Development Fund Corporation contributes to the overall well-being and stability of the communities it serves.
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Impact
July, 2024
St Mark Affordable Housing Development Fund Corporation's impact is seen in its operation of low-income housing apartments in Brooklyn, NY. By providing affordable housing options, the organization plays a critical role in addressing housing insecurity and supporting individuals and families in need. Through its mission, St Mark Affordable Housing Development Fund Corporation contributes to creating a more equitable community where people have access to safe and stable housing.
This information is meant to be a general summary of St Mark Affordable Housing Devlop 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: $15,024
- Program Service Revenue: $1,782,292
- Gross Receipts: $1,853,732
Assets and Liabilities:
- Total Assets: $10,635,486
- Total Liabilities: $12,688,839
- Net Assets: -$2,053,353
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,771,372
LEGAL , NSF ETC
Revenue
$10,920
Organization Details
Founding Year
2011
Phone
(718) 756-6607Principal Officer
Beverly Jules
Main Address
1417 UNION ST, BROOKLYN, NY, 11213
NTEE Category
Code: L80 - Housing
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