Overview
What is The Wilton Housing Development Fund Corporation?
The Wilton Housing Development Fund Corporation is a nonprofit organization situated in the Bronx, New York. Their primary mission is to offer affordable housing options, catering to individuals with low and moderate incomes. It manages two buildings, accommodating 31 rental apartments and six commercial spaces for small businesses, thereby contributing to the local Bronx community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement, 72%)
The Wilton Housing Development Fund Corporation has received a Two-Star rating from Charity Navigator, indicating a need for improvement in its overall operations. The organization excels in accountability and financial management, achieving a perfect score of 100% in this area. It has implemented essential policies such as conflict of interest, whistleblower, and document retention, showcasing a commitment to transparency and ethical governance.
Despite its strengths, the organization faces challenges, particularly in its independent board size, which scored 0 out of 7 points. This could raise concerns about governance and oversight. Additionally, the liabilities to assets ratio of 70.02% suggests a relatively high level of debt compared to its assets, which may pose financial risks and impact sustainability.
Overall, while The Wilton Housing Development Fund Corporation demonstrates strong financial accountability and an effective program expense ratio of 96.04%, its governance structure and financial ratios highlight areas needing attention. Addressing these issues could enhance its overall rating and effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is The Wilton Housing Development Fund Corporation legitimate?
The Wilton Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Wilton 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: $34,821
For more financial information, click here
What is the mission statement of The Wilton Housing Development Fund Corporation?
The Wilton Housing Development Fund Corporation's mission is centered around providing affordable housing options. Specifically, their mission is to offer reasonably priced living spaces for individuals with lower and moderate income levels. To achieve this, the organization operates two buildings in an unspecified location, housing 31 rental apartments and six commercial units for small businesses. This initiative aims to contribute positively to the community by providing both residences and business opportunities at affordable prices.
Who is the CEO of The Wilton Housing Development Fund Corporation?
Jumelia Abrahamson is the Treasurer of The Wilton Housing Development Fund Corporation.
What is the revenue of The Wilton Housing Development Fund Corporation?
The Wilton Housing Development Fund Corporation's revenue in 2022 was $665,645.
Who are the executives of The Wilton Housing Development Fund Corporation and what are their salaries?
There 2 volunteers at The Wilton Housing Development Fund Corporation.
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for The Wilton Housing Development Fund Corporation?
The Wilton Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Wilton Housing Development Fund Corporation
The Wilton Housing Development Fund Corporation is committed to providing affordable housing solutions in an unspecified location. Specifically, this organization operates two buildings that house 31 rental apartments designed for individuals with low and moderate incomes. Additionally, the corporation offers six commercial units for small businesses within the same community, thereby contributing to the economic growth and stability of the area. In essence, the Wilton Housing Development Fund Corporation's mission revolves around enhancing the living conditions and opportunities for individuals with limited financial resources.
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Impact
July, 2024
The Wilton Housing Development Fund Corporation's impact lies in its provision of affordable housing in the Bronx of New York. Through the operation of two buildings containing 31 rental apartment units for low and moderate-income tenants and six commercial units for small businesses, this organization plays a crucial role in addressing the housing needs of the community. By offering affordable housing options, The Wilton Housing Development Fund Corporation contributes to the stability and well-being of individuals and families in the Bronx, helping to enhance the overall quality of life in the area.
This information is meant to be a general summary of The Wilton 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: $665,345
- Gross Receipts: $665,645
Assets and Liabilities:
- Total Assets: $2,837,898
- Total Liabilities: $2,072,905
- Net Assets: $764,993
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$431,126
OTHER RENTAL INCOME
Revenue
$234,219
Organization Details
Founding Year
2016
Phone
(718) 933-3101Principal Officer
Jumelia Abrahamson
Main Address
2751 Grand Concourse, Bronx, NY, 10468
NTEE Category
Code: L20 - Housing
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