Overview
What is Mhany Management Inc?
Mhany Management Inc, located at 470 Vanderbilt Ave, 9th Floor, Brooklyn, NY 11238, is a nonprofit organization dedicated to improving living conditions in distressed areas of New York City. Their primary mission is to provide housing for low and moderate income residents, aiming to alleviate neighborhood tensions, deterioration, and prejudice. In addition to housing, they engage in activities to enhance the targeted communities and offer information and technical assistance to its residents. With a workforce of 91 individuals, Mhany Management Inc strives to make a positive impact on the lives of those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Mhany Management Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in several key areas. The organization has a decent overall score of 67%, primarily due to its 100% independent board members and a strong program expense ratio, which suggests a significant portion of its budget goes directly to its programs. However, the lack of financial transparency is a major concern, as evidenced by missing financial statements and other accountability documents.
The organization demonstrates strengths in governance with all board members being independent, indicating a commitment to ethical oversight. However, the absence of critical documents such as conflict of interest policies, whistleblower policies, and a website listed on the tax form highlights a gap in transparency and accountability practices. These deficiencies contribute to the overall low score in the Accountability & Finance category.
While Mhany Management Inc allocates a high percentage of its expenses to programs, the significant issues related to documentation and transparency may hinder its credibility and effectiveness in the nonprofit sector. Continued improvements in governance practices and financial reporting could enhance its overall rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Mhany Management Inc legitimate?
Mhany Management Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mhany Management 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: $109,772
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,570,203
For more financial information, click here
What is the mission statement of Mhany Management Inc?
Mhany Management Inc's mission is centered around providing relief to those in need, specifically the poor, distressed, and underprivileged. This is done with the aim of lessening neighborhood tensions, deterioration, and prejudice. The organization operates by providing housing to individuals with low and moderate incomes. Additionally, they engage in activities to halt the deterioration of distressed areas, primarily in New York City. Furthermore, Mhany Management Inc disseminates information and offers technical assistance to their targeted residents.
Who is the CEO of Mhany Management Inc?
Ismene Speliotis is the Member of Mhany Management Inc.
What is the revenue of Mhany Management Inc?
Mhany Management Inc's revenue in 2022 was $5,058,922.
Who are the executives of Mhany Management Inc and what are their salaries?
The average compensation at Mhany Management Inc during 2022 was $29,450. There are 91 employees and 13 volunteers at Mhany Management Inc.
Here are 14 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $95,242
- Related: $0
- Other: $14,530
Where can I find the form 990 for Mhany Management Inc?
Mhany Management Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mhany Management Inc
Mhany Management Inc, as a nonprofit organization, is committed to providing relief to the poor, distressed, and underprivileged in a bid to lessen neighborhood tensions, deterioration, and prejudice. Their mission is centered around public good, aiming to alleviate the plight of those who are struggling financially and socially. To achieve this, they offer housing solutions to low and moderate income residents, providing them with a stable living environment.
In addition to housing, Mhany Management Inc also engages in activities to halt the deterioration of distressed areas. This could involve various community initiatives, aimed at improving the living conditions and reducing tensions in these areas. Furthermore, the organization disseminates information and provides technical assistance to targeted residents, empowering them to improve their own situations and contribute positively to their communities. By doing so, Mhany Management Inc plays a significant role in promoting social harmony and reducing prejudice.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Mhany Management Inc's impact lies in its dedicated efforts to provide housing and relief to the poor, distressed, and underprivileged residents of New York City. By focusing on offering affordable housing options to low and moderate-income individuals, Mhany Management Inc contributes to alleviating neighborhood tensions, halting the deterioration of distressed areas, and combating prejudice. This organization's work not only addresses the immediate needs of the community but also aims to create a more equitable and inclusive environment for all residents.
This information is meant to be a general summary of Mhany Management 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: $120,705
- Program Service Revenue: $3,208,635
- Gross Receipts: $5,058,922
Assets and Liabilities:
- Total Assets: $37,929,584
- Total Liabilities: $9,264,295
- Net Assets: $28,665,289
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTY MANAGEMENT FE
Revenue
$1,785,355
OTHER CONSULTING
Revenue
$646,001
DEVELOPMENT FEES
Revenue
$514,782
INCENTIVE MANAGEMENT F
Revenue
$262,497
Organization Details
Founding Year
1995
Phone
(718) 246-8080Principal Officer
Ismene Speliotis
Main Address
470 VANDERBILT AVE 9TH FLOOR, BROOKLYN, NY, 11238
NTEE Category
Code: L20 - Housing
If you are a representative of Mhany Management Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.