Overview
What is Dona Petra Santiago Apartments Housing Development Fund Corp?
Dona Petra Santiago Apartments Housing Development Fund Corp is a nonprofit organization based in New York City, New York. Its primary mission is to provide affordable housing for the low-income elderly population. The organization operates a 57-unit apartment project, which falls under Section 202 of the National Housing Act and is regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rental charges and operating methods. The project also has a Section 8 Housing Assistance Payments agreement with HUD, and a significant portion of its rental income is funded by the department. The project aims to offer comfortable living spaces and essential services to its elderly residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
Dona Petra Santiago Apartments Housing Development Fund Corp has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The charity has a perfect score in several areas, including having a majority of independent board members, indicating strong governance practices. The organization maintains a robust audit and oversight committee, contributing to its transparency and accountability in financial management.
In terms of financial efficiency, the charity allocates 90.33% of its expenses directly to programs, which is commendable. However, the organization faces challenges with its liabilities to assets ratio, which stands at 135.38%, a figure that raises some concerns about financial stability. This aspect may warrant closer scrutiny as it contrasts with the otherwise strong governance and program expenditure metrics.
Overall, Dona Petra Santiago Apartments Housing Development Fund Corp demonstrates effective management and a commitment to accountability, but potential supporters should consider the implications of its high liabilities relative to assets when evaluating the organization's long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Dona Petra Santiago Apartments Housing Development Fund Corp legitimate?
Dona Petra Santiago Apartments Housing Development Fund Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dona Petra Santiago Apartments Housing Development Fund Corp 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 Dona Petra Santiago Apartments Housing Development Fund Corp?
The Dona Petra Santiago Apartments Housing Development Fund Corp operates a 57-unit housing project primarily for the elderly. The project is managed under Section 202 of the National Housing Act and is regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rental charges and operating methods. The project also has a Section 8 Housing Assistance Payments agreement with HUD, and a substantial portion of its rental income comes from this department. The primary objective of this housing development is to provide suitable living spaces for the elderly, with HUD's support ensuring affordable rental rates.
Who is the CEO of Dona Petra Santiago Apartments Housing Development Fund Corp?
Georgina Acevedo is the Chair of Dona Petra Santiago Apartments Housing Development Fund Corp.
What is the revenue of Dona Petra Santiago Apartments Housing Development Fund Corp?
Dona Petra Santiago Apartments Housing Development Fund Corp's revenue in 2022 was $625,528.
Who are the executives of Dona Petra Santiago Apartments Housing Development Fund Corp and what are their salaries?
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
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Where can I find the form 990 for Dona Petra Santiago Apartments Housing Development Fund Corp?
Dona Petra Santiago Apartments Housing Development Fund Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Dona Petra Santiago Apartments Housing Development Fund Corp
Dona Petra Santiago Apartments Housing Development Fund Corp operates a 57-unit housing project specifically designed for the elderly. This project falls under Section 202 of the National Housing Act and is regulated by the U.S. Department of Housing and Urban Development (HUD) in terms of rental charges and operating methods. Furthermore, the project is subject to a Section 8 Housing Assistance Payments agreement with HUD, meaning a substantial portion of its rental income comes from this department. Essentially, the mission of Dona Petra Santiago Apartments Housing Development Fund Corp is to provide safe and affordable housing for the elderly, with financial support from both HUD and Section 8 housing assistance.
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Impact
July, 2024
Dona Petra Santiago Apartments provide essential housing for low-income elderly individuals in New York City. By offering 57 units under the Section 202 program and receiving support from the U.S. Department of Housing and Urban Development, this housing development fund plays a critical role in addressing the housing needs of an often vulnerable population. The impact of Dona Petra Santiago Apartments is evident in the provision of affordable and safe housing for elderly individuals, enhancing their quality of life and ensuring they have a stable living environment. This initiative contributes to the broader goal of creating inclusive and supportive communities for seniors in need of affordable housing options.
This information is meant to be a general summary of Dona Petra Santiago Apartments Housing Development Fund Corp. 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: $547
- Program Service Revenue: $624,981
- Gross Receipts: $625,528
Assets and Liabilities:
- Total Assets: $11,017,572
- Total Liabilities: $14,917,679
- Net Assets: -$3,900,107
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$624,981
Organization Details
Founding Year
2009
Phone
(212) 677-4772Principal Officer
Georgina Acevedo
Main Address
717 EAST 9TH STREET, NEW YORK, NY, 10009
NTEE Category
Code: L21 - Housing
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