Overview
What is Division Housing Corporation?
Division Housing Corporation is a Brooklyn, New York-based nonprofit organization dedicated to providing low-income rental housing. Operating at 60 Division Avenue, they manage a complex consisting of 534 residential units and two commercial spaces. Established on a nonprofit basis, they received municipal aid to own, rehabilitate, maintain, and manage this housing project. With a team of 26 employees, Division Housing Corporation continues its mission to accommodate individuals with low income in Brooklyn, NY.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 79%, Three-Star out of Four Star rating.
Division Housing Corporation has achieved a solid Three-Star rating on Charity Navigator, primarily reflecting its strong accountability and finance practices. The organization has demonstrated a commitment to transparency, evidenced by having 100% of its board members being independent, ensuring that governance is free from conflicts of interest. Their compliance with key policies such as whistleblower and document retention further underscores their operational integrity.
Financially, Division Housing Corporation shows impressive performance with a program expense ratio of 95.56%, indicating that the majority of its resources are directed toward its mission rather than administrative costs. Additionally, the organization has no liabilities, which speaks to its financial health and stability.
While the rating is overall positive, potential donors and supporters should consider the limited scope of the evaluation, as the score is based solely on accountability and finance metrics. Future assessments that encompass program effectiveness and impact could provide a more comprehensive view of the organization's overall performance.
This AI summary has been generated from information found on Charity Navigator.
Is Division Housing Corporation legitimate?
Division Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Division 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: $1,950,817
For more financial information, click here
What is the mission statement of Division Housing Corporation?
The Division Housing Corporation is a nonprofit organization dedicated to owning, rehabilitating, maintaining, and managing a municipally-aided housing project for individuals with low income. The corporation provides essential housing services, transforming dilapidated properties into thriving communities. With a mission rooted in compassion, they strive to make a difference in people's lives by offering affordable housing options. Currently, they manage a complex consisting of 534 residential units and two commercial spaces. Through their relentless efforts, they ensure the continued provision of safe, comfortable living spaces for those in need.
Who is the CEO of Division Housing Corporation?
Msgr Anthony Hernandez is the President of Division Housing Corporation.
What is the revenue of Division Housing Corporation?
Division Housing Corporation's revenue in 2022 was $16,618,579.
Who are the executives of Division Housing Corporation and what are their salaries?
The average compensation at Division Housing Corporation during 2022 was $75,031. There are 26 employees at Division Housing Corporation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Division Housing Corporation?
Division Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Division Housing Corporation
Division Housing Corporation, a nonprofit organization, is dedicated to owning, rehabilitating, maintaining, and managing a municipally-aided housing project for individuals with low income. This project, located in Brooklyn, New York, consists of 534 residential units and two commercial spaces, serving as an essential source of affordable housing for the community.
The Division Housing Corporation's mission is to provide a safe and nurturing environment for its residents. By taking on this responsibility on a nonprofit basis, the organization demonstrates a strong commitment to improving the lives of those in need. The Corporation not only ensures the ongoing renovation and upkeep of the residential complex but also manages it efficiently, offering an affordable housing solution for its residents.
With a focus on providing housing for individuals with low income, the Division Housing Corporation plays a crucial role in the community. Its efforts to maintain and manage the project create a stable living environment that allows residents to focus on their personal growth and well-being. By offering affordable housing, the organization enables its residents to prioritize their financial resources on essential needs, rather than spending a significant portion of their income on housing expenses. This, in turn, contributes to the overall community development and stability.
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Impact
October, 2024
Division Housing Corporation plays a crucial role in addressing the housing needs of low-income individuals and families in Brooklyn, NY. By owning, rehabilitating, maintaining, and managing a municipally-aided housing project, it provides affordable rental options in a city where housing costs can be prohibitively high.
The Corporation operates an apartment complex consisting of 534 residential units and two commercial spaces, ensuring that residents have access to essential services and opportunities within their community. By focusing on low-income housing, Division Housing Corporation not only provides shelter but also fosters stability and support for residents, encouraging their social and economic well-being.
Through its mission, Division Housing Corporation contributes to the overall health of the neighborhood. It revitalizes properties, enhances the quality of life for residents, and supports a diverse community. This approach helps mitigate the challenges associated with poverty and housing insecurity, making a lasting impact on the lives of those it serves. By prioritizing affordable housing, Division Housing Corporation reinforces its commitment to equitable access to housing and a better future for all its residents.
This information is meant to be a general summary of Division 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $43,685
- Program Service Revenue: $16,574,894
- Gross Receipts: $16,618,579
Assets and Liabilities:
- Total Assets: $37,066,960
- Total Liabilities: $33,647,839
- Net Assets: $3,419,121
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REVENUE - RENTAL OPERATIONS
Revenue
$15,300,675
INTEREST REDUCTION PAYMENTS REVEN
Revenue
$1,274,219
Organization Details
Founding Year
2011
Phone
(212) 692-8348Principal Officer
Msgr Anthony Hernandez
Main Address
60 DIVISION AVENUE, BROOKLYN, NY, 11249
NTEE Category
Code: L21 - Housing
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