Overview
What is Hqm Properties Inc?
Hqm Properties Inc, located within the Borough of Madison, serves as a housing authority with a mission to offer affordable living solutions for its low and moderate-income residents. Their primary objective is to facilitate the development, rental, and promotion of affordable housing. This nonprofit organization strives to ensure that the housing they provide is decent, safe, and sanitary, thereby contributing positively to the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating
Hqm Properties Inc has achieved a commendable score of 88%, reflecting strong performance in the Accountability & Finance category. The rating is based entirely on this beacon, indicating a solid commitment to financial health and transparency. The organization has successfully maintained an independent board with all members being independent, which is a positive indicator of governance.
The financial statements are well audited, and the organization scores perfectly in aspects like material diversion of assets, conflict of interest policies, and document retention. With a liability-to-asset ratio of 46.91% and a program expense ratio of 100%, Hqm Properties Inc demonstrates effective management of resources and prioritization of programmatic spending.
While the overall rating is strong, the reliance on a single beacon score suggests that potential donors should consider looking into other aspects of the organization’s operations not captured in the Accountability & Finance score. Nonetheless, the indicators of governance and financial integrity are reassuring for supporters and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Hqm Properties Inc legitimate?
Hqm Properties Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hqm Properties 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: $61,327
For more financial information, click here
What is the mission statement of Hqm Properties Inc?
Hqm Properties Inc, as stated in its mission, is committed to promoting affordable housing, rental, and development. This mission is translated into action by providing decent, safe, and sanitary housing options for individuals with moderate and low incomes. The organization's primary goal is to contribute to making housing more accessible and affordable for a significant portion of the population.
Who is the CEO of Hqm Properties Inc?
Louis Ric is the Principal Officer of Hqm Properties Inc.
What is the revenue of Hqm Properties Inc?
Hqm Properties Inc's revenue in 2022 was $1,295,414.
Who are the executives of Hqm Properties Inc and what are their salaries?
The average compensation at Hqm Properties Inc during 2022 was $8,761. There are 7 employees at Hqm Properties Inc.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Hqm Properties Inc?
Hqm Properties Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hqm Properties Inc
Hqm Properties Inc, in its mission, strives to promote affordable housing, rental, and development. This nonprofit organization's primary goal is to provide decent, safe, and sanitary living conditions for low and moderate-income residents. By focusing on affordable housing, Hqm Properties Inc aims to contribute to the well-being of its community, ensuring that everyone has access to a suitable place to live.
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Impact
July, 2024
Hqm Properties Inc's impact lies in its mission to provide decent, safe, and sanitary housing for low and moderate-income residents of the Borough of Madison in Denville, NJ. By promoting affordable housing, rental, and development, Hqm Properties Inc plays a vital role in ensuring that individuals and families have access to housing that meets their needs and improves their quality of life. Through their efforts, they contribute to creating a more inclusive and sustainable community where all residents have a place to call home.
This information is meant to be a general summary of Hqm Properties 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: $298
- Program Service Revenue: $1,039,810
- Gross Receipts: $1,295,414
Assets and Liabilities:
- Total Assets: $6,999,919
- Total Liabilities: $3,336,608
- Net Assets: $3,663,311
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$423,006
HAP INCOME
Revenue
$462,467
GARAGE RENTAL INCOME
Revenue
$7,000
RAD ADMINISTRATIVE FEE
Revenue
$147,337
Organization Details
Founding Year
1992
Phone
(201) 787-8789Principal Officer
Louis Ric
Main Address
455 Diamond Spring Road, Denville, NJ, 07834
NTEE Category
Code: L20Z - Housing
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