Overview
What is Meadow Lane Housing Development Fund Company Inc?
Meadow Lane Housing Development Fund Company Inc, based in New Rochelle, New York, is a nonprofit organization with a mission to provide housing facilities and services for low-income elderly and disabled individuals. Under Section 202 of the National Housing Act, they operate a 32-unit senior housing facility, offering a safe and suitable living environment that caters to their physical, social, and psychological needs. The company's purpose is to promote the health, security, happiness, and usefulness of its residents, operating on a nonprofit basis to ensure affordable charges.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, Two-Star out of Four Star rating.
Meadow Lane Housing Development Fund Company Inc has received a score of 71%, which reflects a moderate level of accountability and financial health. The organization excels in certain areas, such as having a fully independent board and effective oversight of its financial statements, earning full points in these categories. However, its overall rating is hindered by missing policies related to whistleblower protections and document retention, as well as the absence of posted tax forms on its website.
Financially, the nonprofit shows a strong program expense ratio of 74.31%, indicating that a significant portion of its budget is directed toward its mission-driven activities. However, the liabilities to assets ratio of 78.55% raises some concerns, suggesting that the organization may have high debt relative to its assets. This could impact its financial stability and ability to fund future initiatives effectively. Overall, while the organization demonstrates strengths in governance and program spending, it faces challenges in transparency and financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Meadow Lane Housing Development Fund Company Inc legitimate?
Meadow Lane Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Meadow Lane 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: $0
For more financial information, click here
What is the mission statement of Meadow Lane Housing Development Fund Company Inc?
Meadow Lane Housing Development Fund Company Inc, as a nonprofit organization, is committed to developing, owning, and operating a 32-unit senior housing facility. The primary focus of this company is to provide affordable housing for low-income elderly persons, ensuring that their physical, social, and psychological needs are met. The mission of Meadow Lane is to promote their health, security, happiness, and usefulness in longer living. The charges for these facilities and services are maintained on a nonprofit basis, ensuring that these essential services remain accessible and affordable for those in need.
Who is the CEO of Meadow Lane Housing Development Fund Company Inc?
Rita C Mabli is the President & Ceo of Meadow Lane Housing Development Fund Company Inc. The CEO's salary of Meadow Lane Housing Development Fund Company Inc is $0 and their total compensation is $1,182,609.
What is the revenue of Meadow Lane Housing Development Fund Company Inc?
Meadow Lane Housing Development Fund Company Inc's revenue in 2022 was $501,931.
Who are the executives of Meadow Lane Housing Development Fund Company Inc and what are their salaries?
There 7 volunteers at Meadow Lane Housing Development Fund Company Inc.
Here are 8 key members and their salaries (Meadow Lane Housing Development Fund Company Inc's CEO's salary is $0 and their total compensation is $1,182,609):
- Compensation: $0
- Related: $1,101,716
- Other: $80,893
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $307,044
- Other: $46,635
Where can I find the form 990 for Meadow Lane Housing Development Fund Company Inc?
Meadow Lane Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Meadow Lane Housing Development Fund Company Inc
Meadow Lane Housing Development Fund Company Inc, as a nonprofit organization, is dedicated to the development, ownership, and operation of a 32-unit senior housing facility. Their primary mission is to provide affordable housing for low-income elderly individuals, addressing their physical, social, and psychological needs. The company aims to promote the health, security, happiness, and usefulness of its residents in their later years by offering housing facilities and services specifically designed to cater to their unique needs. The costs for these facilities and services are maintained on a nonprofit basis, ensuring affordability for the residents.
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Impact
July, 2024
Meadow Lane Housing Development Fund Company Inc's impact can be seen in the provision of a 32-unit senior housing facility for low-income elderly individuals in New Rochelle, NY. By owning and operating this housing project under Section 202 of the National Housing Act, Meadow Lane is directly addressing the housing needs of this vulnerable population. Their mission to develop, own, and operate housing projects for low-income individuals, especially focusing on the elderly and disabled, demonstrates a commitment to ensuring access to housing that meets their specific physical, social, and psychological needs. Through this initiative, Meadow Lane is promoting the health, security, happiness, and overall wellbeing of the residents, ultimately contributing to their longevity and quality of life.
This information is meant to be a general summary of Meadow Lane 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: $190
- Program Service Revenue: $161,862
- Gross Receipts: $501,931
Assets and Liabilities:
- Total Assets: $7,328,395
- Total Liabilities: $5,756,581
- Net Assets: $1,571,814
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$161,862
Organization Details
Founding Year
2013
Phone
(914) 632-2804Principal Officer
Rita C Mabli
Main Address
391 PELHAM ROAD, NEW ROCHELLE, NY, 10805
NTEE Category
Code: L22 - Housing
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