Overview
What is Community Renewal Housing Fund Company Inc?
Community Renewal Housing Fund Company Inc is a nonprofit organization situated in New York, NY, dedicated to alleviating governmental responsibilities and offering social benefits. Their primary mission is to develop and manage a low-income housing project, offering 100% of their facilities to eligible individuals who meet specific income requirements. Through annual recertification and proof of eligibility, the corporation provides a home for those in need. Their objective is to rehabilitate and convert these housing units into cooperative ownership, thereby continuing to serve the community on a non-profit basis.
Is Community Renewal Housing Fund Company Inc legitimate?
Community Renewal Housing Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Renewal Housing Fund Company Inc submitted a form 990EZ, 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.
What is the mission statement of Community Renewal Housing Fund Company Inc?
Community Renewal Housing Fund Company Inc was established with the primary goal of creating and managing an affordable housing project. The organization targets individuals with low income, requiring them to meet certain income restrictions and undergo annual recertification and eligibility checks. The corporation's mission is centered around reducing the burden on government and offering social benefits. They achieve this by rehabilitating and converting housing projects into cooperative ownership, catering specifically to individuals with limited financial resources, on a non-profit basis.
Who is the CEO of Community Renewal Housing Fund Company Inc?
Thomas Yu is the President of Community Renewal Housing Fund Company Inc.
What is the revenue of Community Renewal Housing Fund Company Inc?
Community Renewal Housing Fund Company Inc's revenue in 2022 was $0.
Who are the executives of Community Renewal Housing Fund Company Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990EZ for Community Renewal Housing Fund Company Inc?
Community Renewal Housing Fund Company Inc's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of Community Renewal Housing Fund Company Inc
Community Renewal Housing Fund Company Inc, a non-profit organization, was established with a mission to alleviate the burden on government and offer social benefits. This mission is achieved through the development and operation of a low-income housing project. The project, located in New York, NY, provides affordable housing to individuals who meet specific income restrictions. This requirement is enforced annually, ensuring that only those in need are able to reside in the facilities. The company's mission is furthered by converting the housing project into cooperative ownership, providing a sense of community and shared responsibility among the residents. The overall objective of Community Renewal Housing Fund Company Inc is to lessen financial burdens and offer social benefits to individuals of low income, thereby contributing positively to society.
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Impact
October, 2024
Community Renewal Housing Fund Company Inc plays a vital role in addressing the affordable housing crisis in New York City. By developing and operating a low-income housing project, it ensures that individuals meeting specific income restrictions have access to safe and affordable living spaces. The project rents 100% of its facilities to those eligible, supporting families and individuals who may otherwise struggle to find housing in a high-cost area.
The organization's annual recertification process fosters accountability by ensuring that residents continue to meet income eligibility requirements, which promotes a sustainable and equitable housing model. Through its mission of rehabilitating properties and converting them to cooperative ownership, the company not only enhances living conditions for low-income individuals but also empowers them through a sense of ownership and community involvement.
By reducing the burden on government resources and providing social benefits, Community Renewal Housing Fund Company Inc contributes significantly to the well-being of the community, fostering stability, dignity, and support for some of the city's most vulnerable populations. Its innovative approach to affordable housing helps to strengthen neighborhoods and improve the quality of life for residents in New York City.
This information is meant to be a general summary of Community Renewal Housing Fund 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.
Assets and Liabilities:
- Total Assets: $5,219
- Total Liabilities: $12,713
- Net Assets: -$7,494
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Organization Details
Phone
(212) 477-2265Principal Officer
Thomas Yu
Main Address
141 NORFOLK ST, NEW YORK, NY, 10002
NTEE Category
Code: L21 - Housing
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