Overview
What is Mins Court Housing Company Inc?
Mins Court Housing Company Inc is a nonprofit organization based in New York State, specifically in the Bronx. Their primary mission is to create and upkeep a housing project, catering to moderate and middle-income families. This mission is carried out under the State's Mitchell-Lama program, a notable initiative aimed at making housing options more affordable for such families. The company manages an 84-unit housing project, ensuring that the goal of providing accessible renting and cooperative ownership options is met.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Mins Court Housing Company Inc has received a solid three-star rating from Charity Navigator, indicating a good level of accountability and financial health. With a score of 79% overall, the organization demonstrates strong governance practices, including a fully independent board of directors and robust financial oversight measures. Their program expense ratio is particularly high at 97.11%, suggesting that most of their financial resources are directed towards their mission-related activities.
Despite these strengths, the organization faces challenges with its liabilities to assets ratio, which stands at 129.68%. This indicates a potential risk regarding financial sustainability, as it suggests the organization has more liabilities than assets. While they have implemented effective policies related to conflict of interest, whistleblower protections, and document retention, the high liabilities could impact their long-term operational stability.
Overall, Mins Court Housing Company Inc shows a commitment to transparency and effective management but must address its financial ratios to strengthen its position and ensure continued service delivery.
This AI summary has been generated from information found on Charity Navigator.
Is Mins Court Housing Company Inc legitimate?
Mins Court Housing Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mins Court Housing Company Inc 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: $0
For more financial information, click here
What is the mission statement of Mins Court Housing Company Inc?
Mins Court Housing Company Inc's mission is centered around developing and maintaining a housing project, with the primary goal of making rental and cooperative ownership options more accessible for moderate and middle-income families in New York State, under the State's Mitchell-Lama program. Their project aims to provide an affordable living solution, fostering a sense of community and home for these families. The company is committed to upholding this mission, as demonstrated by their 84-unit housing project located in Bronx, NY.
Who is the CEO of Mins Court Housing Company Inc?
Lymaris Albors is the President of Mins Court Housing Company Inc. The CEO's salary of Mins Court Housing Company Inc is $0 and their total compensation is $795,306.
What is the revenue of Mins Court Housing Company Inc?
Mins Court Housing Company Inc's revenue in 2022 was $1,879,700.
Who are the executives of Mins Court Housing Company Inc and what are their salaries?
There 4 volunteers at Mins Court Housing Company Inc.
Here are 9 key members and their salaries (Mins Court Housing Company Inc's CEO's salary is $0 and their total compensation is $795,306):
- Compensation: $0
- Related: $861,432
- Other: $73,959
- Compensation: $0
- Related: $748,860
- Other: $46,446
- Compensation: $0
- Related: $560,176
- Other: $40,861
- Compensation: $0
- Related: $432,484
- Other: $41,248
- Compensation: $0
- Related: $0
- Other: $0
- 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 Mins Court Housing Company Inc?
Mins Court Housing Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mins Court Housing Company Inc
Mins Court Housing Company Inc is committed to developing and maintaining a housing project that caters to moderate and middle-income families in New York State. This mission is carried out under the State's Mitchell-Lama program. Their primary objective is to make renting and cooperative ownership an attainable option for these families. By doing so, they aim to contribute to the housing sector, providing a viable solution for a segment of the population that may otherwise find it challenging to secure decent living accommodations.
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Impact
July, 2024
Mins Court Housing Company Inc's impact is significant in providing affordable housing options for moderate and middle-income families in New York State. Through their development and maintenance of an 84-unit housing project in Bronx, NY, they contribute to making renting and cooperative ownership accessible to these families. By participating in the State's Mitchell-Lama program, Mins Court Housing Company Inc plays a crucial role in addressing the housing needs of these communities and ensuring they have a place to call home.
This information is meant to be a general summary of Mins Court Housing Company Inc. 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.
- Program Service Revenue: $1,682,426
- Gross Receipts: $1,879,700
Assets and Liabilities:
- Total Assets: $3,975,586
- Total Liabilities: $5,155,680
- Net Assets: -$1,180,094
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME FROM TENANTS
Revenue
$628,571
PARKING INCOME
Revenue
$12,873
RENTAL ASSISTANCE INCOME
Revenue
$1,040,982
Organization Details
Founding Year
2012
Phone
(718) 993-3504Principal Officer
Lymaris Albors
Main Address
300 East 175th Street, Bronx, NY, 10457
NTEE Category
Code: L20 - Housing
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