Overview
What is Nelson Luquer Housing Development Fund Corporation?
Nelson Luquer Housing Development Fund Corporation, based in Brooklyn, New York, is a nonprofit organization with a mission to provide affordable housing for low-income individuals. In 2014, they acquired and renovated five housing buildings in the area, increasing their portfolio to six buildings with a total of 44 units. These rehabilitated units are now rented out to eligible tenants, as per the regulations of New York's Private Housing Finance Law. The organization's work in Brooklyn continues to focus on offering quality housing solutions for those in need, contributing to the community's social fabric.
Official website here: www.none
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
The Nelson Luquer Housing Development Fund Corporation has received an overall rating of 82%, reflecting a focus on strong accountability and finance practices. The organization boasts a perfect score for its board composition, with 100% independent board members and a solid conflict of interest policy, which enhances its governance and transparency.
The organization has effectively demonstrated a commitment to financial integrity, as evidenced by an impressive program expense ratio of 82.24%. This indicates that a significant portion of its resources is directed towards its core programs. However, the organization faces a challenge with a liabilities to assets ratio of 146.19%, which could raise concerns about its financial sustainability.
Overall, while the Nelson Luquer Housing Development Fund Corporation exhibits strong governance and programmatic efficiency, potential donors may want to consider its financial liabilities as a factor in their decision-making.
This AI summary has been generated from information found on Charity Navigator.
Is Nelson Luquer Housing Development Fund Corporation legitimate?
Nelson Luquer Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nelson Luquer Housing Development Fund Corporation 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: $79,211
For more financial information, click here
Official website here: www.none
What is the mission statement of Nelson Luquer Housing Development Fund Corporation?
The Nelson Luquer Housing Development Fund Corporation was established with the objective of acquiring, rehabilitating, maintaining, and operating low-income housing buildings. These buildings, with a total of 44 units, are intended for individuals of low-income, as defined by Article XI of the Private Housing Finance Law. After acquiring six such buildings in Brooklyn, New York, in 2014, the corporation took over their operation with the continued purpose of rehabilitating and managing the rental units for eligible low-income occupants. The rehabilitation and weatherization project was completed in 2015.
Official website here: www.none
Who is the CEO of Nelson Luquer Housing Development Fund Corporation?
Vilma Heramia is the Vice President of Nelson Luquer Housing Development Fund Corporation.
Official website here: www.none
What is the revenue of Nelson Luquer Housing Development Fund Corporation?
Nelson Luquer Housing Development Fund Corporation's revenue in 2022 was $458,750.
Official website here: www.none
Who are the executives of Nelson Luquer Housing Development Fund Corporation and what are their salaries?
There 3 volunteers at Nelson Luquer Housing Development Fund Corporation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $102,982
- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.none
Learn more at the official website: www.none
Mission Statement of Nelson Luquer Housing Development Fund Corporation
Nelson Luquer Housing Development Fund Corporation, abbreviated as HDFC, was established with a mission to acquire, rehabilitate, maintain, and operate low-income housing buildings. The organization operates with a focus on providing housing units for individuals with low income, as defined by Article XI of the Private Housing Finance Law. In 2014, HDFC acquired and took over six low-income buildings, containing a total of 44 units, located in Brooklyn, New York. The corporation then proceeded to rehabilitate and weatherize these buildings, completing the project in 2015. The refurbished units were then made available for eligible low-income occupants, furthering HDFC's mission to provide affordable housing for those in need.
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Impact
July, 2024
Nelson Luquer Housing Development Fund Corporation has had a significant impact on the community by acquiring and rehabilitating five low-income housing buildings in Brooklyn. These buildings provide a total of 44 units rented to eligible tenants, offering much-needed affordable housing options in the area. The corporation's mission to maintain and operate these units for low-income individuals aligns with its goal of addressing housing affordability issues in the city. Through its work, Nelson Luquer HDFC contributes to creating stable and affordable housing opportunities for those in need, ultimately improving the quality of life for many residents in Brooklyn.
This information is meant to be a general summary of Nelson Luquer Housing Development Fund Corporation. 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: $425,133
- Gross Receipts: $458,750
Assets and Liabilities:
- Total Assets: $2,607,114
- Total Liabilities: $3,654,658
- Net Assets: -$1,047,544
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME FOR LOW-
Revenue
$425,133
Organization Details
Founding Year
2014
Phone
(718) 240-4111Principal Officer
Vilma Heramia
Main Address
201 COLUMBIA ST, BROOKLYN, NY, 11231
Website
www.noneNTEE Category
Code: L21 - Housing
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