Overview
What is 4Nyc Housing Inc?
4Nyc Housing Inc is a nonprofit organization situated in New York City, specifically at 141 Norfolk Street, GFL, New York, NY 10002. Their primary mission is to promote, encourage, and sponsor the development of affordable housing for individuals with low income and limited means. They achieve this by leveraging social finance social impact bonds. The project is designed to alleviate hardship and suffering stemming from inadequate housing and living arrangements. The organization ensures that 100% of the facilities are rented to individuals who meet specific income restrictions, and their eligibility is reassessed annually. The nonprofit's initiatives aim to provide housing and related facilities, enabling disadvantaged individuals to live with dignity and stability.
Is 4Nyc Housing Inc legitimate?
4Nyc Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 4Nyc 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of 4Nyc Housing Inc?
4Nyc Housing Inc's mission is centered around promoting, encouraging, and sponsoring the development of affordable housing for individuals with low income and limited means. The organization aims to alleviate hardship and suffering that stem from inadequate housing and living arrangements. This mission is accomplished through a low-income housing project, funded through social finance and social impact bonds. The facility rents 100% of its units to individuals who meet specific income restrictions, with recertification and proof of eligibility required annually.
Who is the CEO of 4Nyc Housing Inc?
Thomas Yu is the Co-Excutive Director (Outgoing) of 4Nyc Housing Inc.
What is the revenue of 4Nyc Housing Inc?
4Nyc Housing Inc's revenue in 2022 was $689,000.
Who are the executives of 4Nyc Housing Inc and what are their salaries?
There 1 volunteer at 4Nyc Housing Inc.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $160,060
- Other: $40,689
- Compensation: $0
- Related: $268,262
- Other: $53,087
- Compensation: $0
- Related: $163,579
- Other: $13,682
- Compensation: $0
- Related: $96,262
- Other: $10,776
- Compensation: $0
- Related: $63,838
- Other: $1,921
Where can I find the form 990 for 4Nyc Housing Inc?
4Nyc Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 4Nyc Housing Inc
4Nyc Housing Inc, a nonprofit organization, is dedicated to promoting, encouraging, and sponsoring the development of affordable housing and related facilities for individuals of low income and limited means. The primary objective of this organization is to alleviate hardship and suffering that stem from inadequate housing and living arrangements within this disadvantaged group.
To achieve this mission, 4Nyc Housing Inc is undertaking a low-income affordable housing project, which will be funded through social finance social impact bonds. The project aims to provide housing facilities that will be fully rented to individuals who meet specific income restrictions. The eligibility of residents is reassessed and verified annually to ensure that they continue to fall within the income bracket intended for this housing project. This approach allows 4Nyc Housing Inc to provide affordable living spaces to those who truly require them, thereby contributing to their overall well-being and improving their living conditions.
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Impact
October, 2024
4Nyc Housing Inc plays a critical role in addressing the housing needs of individuals and families with low income in New York City. By focusing on the development and sponsorship of affordable housing projects, it creates opportunities for those facing economic hardships due to inadequate living arrangements. The organization specifically targets a disadvantaged group, working tirelessly to alleviate the suffering caused by housing insecurity.
Through its initiatives, 4Nyc Housing Inc ensures that 100% of its facilities are rented to individuals who meet strict income restrictions. Annual recertification processes help maintain compliance and ensure that the housing remains accessible to those who need it most. The use of social finance and social impact bonds as funding mechanisms underpins a sustainable approach to housing development, enabling the organization to create long-term solutions for affordable housing needs.
The impact of 4Nyc Housing Inc is significant. It not only addresses immediate housing shortages but also fosters stability and self-sufficiency among low-income residents. By promoting safe and affordable living conditions, the organization contributes to the overall well-being of the community, allowing individuals to thrive rather than merely survive.
This information is meant to be a general summary of 4Nyc 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.
- Gross Receipts: $689,000
Assets and Liabilities:
- Total Assets: $2,612,277
- Total Liabilities: $2,099,915
- Net Assets: $512,362
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Organization Details
Founding Year
2017
Phone
(212) 477-2265Principal Officer
Thomas Yu
Main Address
141 NORFOLK STREET GFL, NEW YORK, NY, 10002
NTEE Category
Code: L19 - Housing
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