Overview
What is Riverview Avenue Apartments Housing Development Fund Company Inc?
Riverview Avenue Apartments Housing Development Fund Company Inc is a nonprofit organization established with the purpose of addressing the housing needs of individuals with low income. Located in Syracuse, New York, the company was founded to develop a housing project where suitable living spaces are not readily available for such individuals. This project is facilitated with the aid of a "Municipally-Aided Mortgage," as defined in Section 572(13) of the Private Housing Finance Law. The City of Cortland serves as the "Supervising Agency," providing mortgage loans, and other necessary instruments from federal, state, and local government are utilized to complete the project's financing. The organization's mission is centered around financing low-income housing projects, ensuring these individuals have access to adequate living spaces.
Is Riverview Avenue Apartments Housing Development Fund Company Inc legitimate?
Riverview Avenue Apartments Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Riverview Avenue Apartments 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
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What is the mission statement of Riverview Avenue Apartments Housing Development Fund Company Inc?
Riverview Avenue Apartments Housing Development Fund Company Inc was established with the mission to develop housing projects for individuals with low income, as there is a lack of adequate housing options for this demographic. The corporation achieves this goal by utilizing financially assistive measures, such as municipally-aided mortgages, which are defined under Section 572(13) of the Private Housing Finance Law. This assistance is provided through mortgage loans made by the city serving as the supervising agency, as well as other necessary instrumentalities from federal, state, and local governments. The aim is to complete the financing for the housing project, thereby providing suitable living spaces for individuals with low income.
Who is the CEO of Riverview Avenue Apartments Housing Development Fund Company Inc?
Kyle Lyskawa is the President of Riverview Avenue Apartments Housing Development Fund Company Inc.
What is the revenue of Riverview Avenue Apartments Housing Development Fund Company Inc?
Riverview Avenue Apartments Housing Development Fund Company Inc's revenue in 2022 was $308,923.
Who are the executives of Riverview Avenue Apartments Housing Development Fund Company Inc and what are their salaries?
Here are 3 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for Riverview Avenue Apartments Housing Development Fund Company Inc?
Riverview Avenue Apartments Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Riverview Avenue Apartments Housing Development Fund Company Inc
Riverview Avenue Apartments Housing Development Fund Company Inc was established with a mission to develop a housing project for individuals of low income. This mission is facilitated through the assistance of a "municipally-aided mortgage," as defined in Section 572(13) of the Private Housing Finance Law. The corporation secures this mortgage financing by obtaining one or more loan agreements from the city serving as the "supervising agency." Additionally, Riverview Avenue Apartments Housing Development Fund Company Inc seeks support from various instrumentalities of federal, state, and local governments to complete the financing for the project. The ultimate goal is to create a housing solution for individuals of low income, where such housing is currently inadequate.
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Impact
October, 2024
Riverview Avenue Apartments Housing Development Fund Company Inc significantly impacts the community by developing affordable housing solutions for low-income individuals and families, addressing a critical need in areas where adequate housing options are scarce. By facilitating the creation of housing projects through financing mechanisms like "municipally-aided mortgages," the organization ensures that vulnerable populations have access to safe and stable living conditions.
The initiative not only provides essential housing but also stimulates local economies through job creation during the construction phases and ongoing management of the properties. This approach fosters community growth and resilience, enabling residents to thrive. Furthermore, by collaborating with various levels of government and leveraging public resources, Riverview Avenue Apartments works to create sustainable living environments that enhance the quality of life for its residents. Overall, the development contributes to a more inclusive community landscape, promoting social equity and well-being for those in need.
This information is meant to be a general summary of Riverview Avenue Apartments 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: $75,298
- Gross Receipts: $308,923
Assets and Liabilities:
- Total Assets: $3,867,754
- Total Liabilities: $3,230,996
- Net Assets: $636,758
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Organization Details
Founding Year
2015
Phone
(315) 424-1821Principal Officer
Kyle Lyskawa
Main Address
990 JAMES STREET, SYRACUSE, NY, 13203
NTEE Category
Code: L20 - Housing
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