Overview
What is Capitol Hall Preservation Housing Development Fund Corporation?
Capitol Hall Preservation Housing Development Fund Corporation is a nonprofit organization situated in New York City, specifically at 593 Columbus Avenue, New York, NY 10024. The organization's primary objective is to support affordable housing for low-income and formerly homeless individuals. They accomplish this by holding nominal title to land, which enables them to receive funds for the rehabilitation of properties under IRC 42. Additionally, they provide property tax relief under NYC 420-C program, thereby making affordable housing more accessible. By assuming ownership of the land, this organization facilitates the revitalization of properties, ultimately benefiting those in need of affordable housing solutions.
Is Capitol Hall Preservation Housing Development Fund Corporation legitimate?
Capitol Hall Preservation Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Capitol Hall Preservation 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: $264,502
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What is the mission statement of Capitol Hall Preservation Housing Development Fund Corporation?
The Capitol Hall Preservation Housing Development Fund Corporation's mission is centered around supporting affordable housing for low-income individuals and those who have previously been homeless. They achieve this by holding nominal title to the land, enabling the receipt of funds for property rehabilitation under the Internal Revenue Code Section 42. Additionally, they provide property tax relief under the NYC 420-C program. This organization's primary goal is to make housing more accessible for those in need, thereby contributing to a more equitable community.
Who is the CEO of Capitol Hall Preservation Housing Development Fund Corporation?
Roderick Jones is the President of Capitol Hall Preservation Housing Development Fund Corporation.
What is the revenue of Capitol Hall Preservation Housing Development Fund Corporation?
Capitol Hall Preservation Housing Development Fund Corporation's revenue in 2022 was $704,490.
Who are the executives of Capitol Hall Preservation Housing Development Fund Corporation and what are their salaries?
Here are 4 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for Capitol Hall Preservation Housing Development Fund Corporation?
Capitol Hall Preservation Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Capitol Hall Preservation Housing Development Fund Corporation
Capitol Hall Preservation Housing Development Fund Corporation is committed to providing affordable housing for low-income individuals and those who have previously experienced homelessness. The organization achieves this mission by holding nominal title to the land, which allows it to receive funds for the rehabilitation of the property under the Internal Revenue Code (IRC) 42. Additionally, Capitol Hall Preservation Housing Development Fund Corporation ensures property tax relief for eligible properties under the New York City 420-C program. By leveraging these programs, the organization is able to contribute to the creation and maintenance of affordable housing solutions for those in need.
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Impact
October, 2024
Capitol Hall Preservation Housing Development Fund Corporation plays a vital role in addressing the affordable housing crisis for low-income and formerly homeless individuals in New York City. By holding nominal title to the land, the organization enables the funding necessary for property rehabilitation under the Internal Revenue Code (IRC) Section 42. This strategic approach allows for the receipt of financing that is crucial for revitalizing properties and making them safe and habitable.
Additionally, through participation in the NYC 420-C program, the organization provides significant property tax relief. This alleviates financial burdens on property owners, facilitating the development and maintenance of affordable housing. As a result, more individuals have access to stable housing, which is essential for fostering community stability and personal wellbeing.
The impacts of its work extend beyond individual housing units; by promoting affordable housing solutions, Capitol Hall contributes to broader social outcomes, such as reduced homelessness, improved public health, and enhanced community development. Overall, the organization serves as a key player in New York City's efforts to create inclusive housing opportunities for those most in need.
This information is meant to be a general summary of Capitol Hall Preservation 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: $704,490
- Gross Receipts: $704,490
Assets and Liabilities:
- Total Assets: $24,215,503
- Total Liabilities: $1,124,459
- Net Assets: $23,091,044
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SELLERS NOTE INTEREST
Revenue
$632,471
RESERVE NOTE INTEREST
Revenue
$72,019
Organization Details
Founding Year
2002
Phone
(212) 873-6600Principal Officer
Roderick Jones
Main Address
593 COLUMBUS AVENUE, NEW YORK, NY, 10024
NTEE Category
Code: L20 - Housing
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