Overview
What is Northern Adirondack Housing Development Fund?
The Northern Adirondack Housing Development Fund is a nonprofit organization situated in Malone, New York, specifically at 337 W Main Street. Their primary mission is to construct, manage, and preserve affordable housing projects and programs, catering to the needs of low-income elderly, disabled, and family populations. They are committed to alleviating housing challenges within these communities, ensuring access to suitable living conditions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, Two-Star out of Four Star Rating
The Northern Adirondack Housing Development Fund has earned a 71% rating from Charity Navigator, indicating a modest level of accountability and financial health. The organization demonstrates strong governance practices, with a fully independent board and a solid policy for conflicts of interest. Their program expense ratio is high at 86.33%, suggesting that a significant portion of their spending is directed towards their mission.
However, the nonprofit faces challenges reflected in its liabilities to assets ratio, which stands at 130.10%. This indicates that the organization has more liabilities than assets, potentially raising concerns about its financial stability in the long term. Despite this, there are no reported material diversions of assets, and the charity maintains thorough financial documentation practices.
Overall, while the Northern Adirondack Housing Development Fund shows strengths in governance and program spending, the financial ratio concerning liabilities suggests the need for careful management to ensure sustainability and ongoing service delivery.
This AI summary has been generated from information found on Charity Navigator.
Is Northern Adirondack Housing Development Fund legitimate?
Northern Adirondack Housing Development Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northern Adirondack 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: $62,353
For more financial information, click here
What is the mission statement of Northern Adirondack Housing Development Fund?
The Northern Adirondack Housing Development Fund is dedicated to constructing, managing, and preserving affordable and low-income housing projects and programs. This organization aims to cater to the needs of elderly, disabled, and family populations who are financially disadvantaged. Their mission is to make a positive impact on the lives of these individuals, providing them with secure and affordable housing solutions.
Who is the CEO of Northern Adirondack Housing Development Fund?
Neil Seymour is the President of Northern Adirondack Housing Development Fund.
What is the revenue of Northern Adirondack Housing Development Fund?
Northern Adirondack Housing Development Fund's revenue in 2022 was $505,131.
Who are the executives of Northern Adirondack 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 Northern Adirondack Housing Development Fund?
Northern Adirondack Housing Development Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Northern Adirondack Housing Development Fund
The Northern Adirondack Housing Development Fund is committed to a mission that involves constructing, managing, and preserving low-income and affordable housing projects and programs. This organization serves a diverse range of individuals, including the elderly, disabled, and families who are financially disadvantaged. By undertaking these activities, the Northern Adirondack Housing Development Fund aims to contribute significantly to the housing needs of these vulnerable groups, ensuring they have access to secure and affordable living spaces.
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Impact
July, 2024
The Northern Adirondack Housing Development Fund is instrumental in providing crucial housing support for low-income elderly, disabled individuals, and families in the Malone, NY area. Through their efforts to build, manage, and preserve affordable housing projects and programs, they are directly impacting the lives of those in need by ensuring they have safe and stable housing options. This organization plays a vital role in addressing the housing challenges faced by vulnerable populations, ultimately improving their quality of life and fostering a sense of community support.
This information is meant to be a general summary of Northern Adirondack 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 2022.
- Investment Income: $97
- Program Service Revenue: $505,034
- Gross Receipts: $505,131
Assets and Liabilities:
- Total Assets: $4,740,728
- Total Liabilities: $5,970,229
- Net Assets: -$1,229,501
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MISCELLEANEOUS
Revenue
$18,379
RENTAL INCOME
Revenue
$486,655
Organization Details
Founding Year
2012
Phone
(518) 483-5934Principal Officer
Neil Seymour
Main Address
337 W MAIN STREET, MALONE, NY, 12953
NTEE Category
Code: L22 - Housing
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