Overview
What is Loretto Apartments At O'Brien Road Housing Development Fund Company Inc?
Loretto Apartments At O'Brien Road Housing Development Fund Company Inc is a nonprofit organization located in Syracuse, New York, with an address at 990 James Street. Their primary mission is to provide and manage a 24-unit low-income housing project, adhering to Section 202 of the National Housing Act. This nonprofit was established with the sole purpose of developing, owning, and operating this affordable housing project, operating on a nonprofit basis.
Official website here: www.christopher-community.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
Loretto Apartments At O'Brien Road Housing Development Fund Company Inc has achieved an impressive 97% rating from Charity Navigator, signifying a strong commitment to accountability and financial health. The rating is based solely on the Accountability & Finance beacon, reflecting the organization's transparency and responsible management of funds.
The organization boasts a fully independent board, with 100% of its members being independent, and it has demonstrated excellent governance practices. Key factors contributing to its rating include a high program expense ratio of 85.74%, indicating that the majority of its expenses are allocated directly to program services rather than administrative costs. Additionally, Loretto Apartments has no material diversion of assets, showcasing its integrity in financial reporting.
While the nonprofit excels in these areas, it is important for potential donors and stakeholders to consider the overall context of its operations and impact in the community. Nonetheless, the strong financial practices and governance structures in place highlight a well-managed organization dedicated to its mission, making it a trustworthy choice for potential supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Loretto Apartments At O'Brien Road Housing Development Fund Company Inc legitimate?
Loretto Apartments At O'Brien Road Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Loretto Apartments At O'Brien Road Housing Development Fund 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: $18,959
For more financial information, click here
Official website here: www.christopher-community.org
What is the mission statement of Loretto Apartments At O'Brien Road Housing Development Fund Company Inc?
Loretto Apartments At O'Brien Road Housing Development Fund Company Inc was established with a specific purpose. The corporation's mission is to develop, manage, and operate a low-income housing project on a non-profit basis, in accordance with Section 202 of the National Housing Act. Their primary objective is to provide affordable housing solutions for individuals with limited financial resources. The project, consisting of 24 units, is operated on a non-profit basis, providing a much-needed service in the housing sector. The company's mission is aligned with the goal of making housing accessible and affordable for those who require it the most.
Official website here: www.christopher-community.org
Who is the CEO of Loretto Apartments At O'Brien Road Housing Development Fund Company Inc?
Kimberly Townsend is the Chairperson of Loretto Apartments At O'Brien Road Housing Development Fund Company Inc.
Official website here: www.christopher-community.org
What is the revenue of Loretto Apartments At O'Brien Road Housing Development Fund Company Inc?
Loretto Apartments At O'Brien Road Housing Development Fund Company Inc's revenue in 2022 was $171,864.
Official website here: www.christopher-community.org
Who are the executives of Loretto Apartments At O'Brien Road Housing Development Fund Company Inc and what are their salaries?
There 5 volunteers at Loretto Apartments At O'Brien Road Housing Development Fund Company Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $806,740
- Other: $58,527
- Compensation: $0
- Related: $312,171
- Other: $15,447
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.christopher-community.org
Where can I find the form 990 for Loretto Apartments At O'Brien Road Housing Development Fund Company Inc?
Loretto Apartments At O'Brien Road Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.christopher-community.org
Learn more at the official website: www.christopher-community.org
Mission Statement of Loretto Apartments At O'Brien Road Housing Development Fund Company Inc
Loretto Apartments At O'Brien Road Housing Development Fund Company Inc was established with a specific mission in mind. The corporation's primary objective is to develop, manage, and operate a low-income housing project on a nonprofit basis, adhering to Section 202 of the National Housing Act. This mission is aimed at providing affordable housing solutions for individuals and families with limited financial resources, thereby contributing to their overall well-being and stability. The operation of this 24-unit low-income housing project is a testament to the corporation's commitment to addressing the housing needs of its community, ensuring that everyone has access to a decent place to live.
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Impact
October, 2024
Loretto Apartments at O'Brien Road Housing Development Fund Company Inc has a significant impact on the local community by providing affordable housing options to low-income individuals and families in Syracuse, NY. By operating a 24-unit housing project, it addresses critical needs for affordable living spaces, helping to alleviate homelessness and housing insecurity.
The project is designed in accordance with Section 202 of the National Housing Act, ensuring that it meets the necessary standards for low-income housing. This initiative not only contributes to the housing landscape but also fosters a sense of community among residents. It enhances the quality of life for occupants by offering them stable and secure homes, which can lead to improved health outcomes and greater opportunities for personal and economic development.
Furthermore, the operation of such housing projects supports local economies by generating jobs and providing opportunities for local businesses to serve the residents. Overall, Loretto Apartments at O'Brien Road plays a crucial role in promoting social equity and well-being within the Syracuse community through its low-income housing efforts.
This information is meant to be a general summary of Loretto Apartments At O'Brien Road Housing Development 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.
- Investment Income: $24
- Program Service Revenue: $170,772
- Gross Receipts: $171,864
Assets and Liabilities:
- Total Assets: $3,068,631
- Total Liabilities: $25,190
- Net Assets: $3,043,441
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME - TENANT
Revenue
$109,245
RENTAL INCOME - HUD
Revenue
$61,527
Organization Details
Founding Year
2012
Phone
(315) 424-1821Principal Officer
Kimberly Townsend
Main Address
990 JAMES STREET, SYRACUSE, NY, 13203
NTEE Category
Code: L20 - Housing
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