Overview
What is Herkimer Affordable Housing Inc?
Herkimer Affordable Housing Inc, a charitable organization based in Herkimer, New York, is dedicated to supporting low-income residents in the area. Their primary mission is to increase the accessibility and quality of housing, aiming to enhance the lives and economic self-sufficiency of families within Herkimer County. They achieve this by working with various organizations, businesses, and governments to secure resources for low-income housing. Furthermore, they seek financial support from governmental agencies, private foundations, and other entities to fulfill their mission. Herkimer Affordable Housing Inc also provides supportive services to strengthen the economic and social well-being of the community. In an effort to achieve these goals, the nonprofit collaborated with the Herkimer Housing Authority and secured a highly competitive allocation of New York State HCR 9% LIHTC to preserve and convert the Eastern Gardens Residence. This public-private partnership aims to maintain affordable housing options in Herkimer County, ultimately benefiting the local community.
Official website here: www.herkimerhousing.org/
What are the reviews and ratings of this charity?
88% rating from Charity Navigator, earning a Three-Star out of Four Star rating. This score indicates a solid performance in accountability and finance, reflecting the organization’s commitment to transparency and effective financial management.
Herkimer Affordable Housing Inc demonstrates strengths in governance, with a fully independent board and strong financial practices, including a high program expense ratio of 78.76%. The organization excels in areas such as independent board size and financial statement audits, showing a strong commitment to ethical management.
However, there are notable gaps in policy documentation, specifically the lack of a whistleblower policy and a document retention and destruction policy. Additionally, the tax form is not posted on the nonprofit's website, which could impact transparency efforts. Overall, while the organization has robust financial practices, addressing these policy deficiencies would enhance its accountability further.
This AI summary has been generated from information found on Charity Navigator.
Is Herkimer Affordable Housing Inc legitimate?
Herkimer Affordable Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Herkimer Affordable Housing 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:
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Official website here: www.herkimerhousing.org/
What is the mission statement of Herkimer Affordable Housing Inc?
Herkimer Affordable Housing Inc was established with a charitable purpose to support low-income residents in a specific area. Its primary objectives include increasing the accessibility and quality of housing for individuals and families with moderate incomes, enhancing their quality of life, and promoting economic self-sufficiency. The corporation collaborates with various organizations, businesses, governments, and other entities to secure resources for increasing affordable housing availability. It also seeks financial and other resources from governmental organizations, private foundations, and other entities to support its mission. Furthermore, Herkimer Affordable Housing Inc provides supportive services to aid in the economic and social self-sufficiency of the families and individuals in the area.
Official website here: www.herkimerhousing.org/
Who is the CEO of Herkimer Affordable Housing Inc?
Richard Dowe is the Executive Director of Herkimer Affordable Housing Inc.
Official website here: www.herkimerhousing.org/
What is the revenue of Herkimer Affordable Housing Inc?
Herkimer Affordable Housing Inc's revenue in 2022 was $5,539,862.
Official website here: www.herkimerhousing.org/
Who are the executives of Herkimer Affordable Housing Inc and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.herkimerhousing.org/
Where can I find the form 990 for Herkimer Affordable Housing Inc?
Herkimer Affordable Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.herkimerhousing.org/
Learn more at the official website: www.herkimerhousing.org/
Mission Statement of Herkimer Affordable Housing Inc
Herkimer Affordable Housing Inc, a charitable organization, was established with the primary purpose of supporting low-income residents in Herkimer, New York. Its mission is multifaceted, aiming to increase the availability, quality, and accessibility of housing for individuals and families with modest incomes in Herkimer County. The corporation seeks to enhance the quality of life and economic self-sufficiency of these families and individuals within the Herkimer area.
To accomplish its goals, Herkimer Affordable Housing Inc collaborates with various organizations, businesses, governments, and other entities to identify and obtain resources for increasing the availability of affordable housing for low-income residents. Furthermore, the organization actively solicits financial and other resources from governmental organizations, private foundations, and other entities to support its mission.
Lastly, Herkimer Affordable Housing Inc provides supportive services to help families and individuals within Herkimer achieve economic and social self-sufficiency. This includes working to ensure that the residents have the necessary resources to maintain their housing and improve their overall well-being. The organization's mission is instrumental in addressing the housing needs of low-income communities and promoting economic development within these communities.
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Impact
July, 2024
Herkimer Affordable Housing Inc's impact is primarily focused on increasing the availability, quality, and accessibility of housing for low and moderate-income individuals and families within Herkimer County, New York. By working to develop public-private partnerships and secure resources, the organization supports the Herkimer Housing Authority in its mission to provide affordable housing to area residents. Additionally, Herkimer Affordable Housing Inc aims to enhance the quality of life and economic self-sufficiency of families and individuals in the Herkimer area through the provision of supportive services. The organization's efforts contribute to addressing housing needs and promoting social and economic stability in the community.
This information is meant to be a general summary of Herkimer Affordable Housing 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.
- Program Service Revenue: $4,832,262
- Gross Receipts: $5,539,862
Assets and Liabilities:
- Total Assets: $5,910,232
- Total Liabilities: $1,294,948
- Net Assets: $4,615,284
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TAX CREDIT PAYMENT
Revenue
$3,625,868
DEVELOPMENT FEE
Revenue
$1,180,478
FACILITY USE
Revenue
$15,210
DAYCARE FEES
Revenue
$10,706
Organization Details
Founding Year
2017
Phone
(315) 866-2252Principal Officer
Richard Dowe
Main Address
315 N PROSPECT ST, HERKIMER, NY, 13350
Website
www.herkimerhousing.org/NTEE Category
Code: L80 - Housing
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