Overview
What is Acacia Real Estate Development Inc C/O Office Of Legal Affairs?
Acacia Real Estate Development Inc C/O Office of Legal Affairs is a nonprofit organization situated in the Bronx, New York, specifically at 300 East 175th Street. Their primary mission is centered around community and economic development, with a focus on providing affordable housing for low-income individuals and families. To achieve this objective, they undertake various activities, such as construction, securing financing, obtaining federal, state, or local tax credits, acquiring necessary governmental approvals and commitments, providing property management and leasing services, and entering into joint ventures with third parties. Their work aims to improve living conditions and contribute to the overall development of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54% (One-Star out of Four Stars)
Acacia Real Estate Development Inc. has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial health and effectiveness. The organization scored well in areas of governance, with 100% independent board members and strong audit oversight, which reflects a commitment to accountability and transparency. However, overall, its accountability and finance score remains low at 54%, highlighting potential issues in its financial management.
The charity's program expense ratio is notably concerning, with a score of 0.00%. This suggests that no funds are being allocated toward program expenses, which is a critical factor in assessing the organization's impact and effectiveness. Additionally, the liabilities to assets ratio stands at 34.90%, indicating a relatively high level of liabilities compared to its assets, which may raise red flags for potential donors regarding the organization's financial stability.
Despite these limitations, Acacia Real Estate Development Inc. has implemented essential policies such as conflict of interest and whistleblower policies, demonstrating a degree of commitment to ethical governance. However, these strengths are overshadowed by the financial concerns, urging potential supporters to carefully consider their contributions in light of the organization's current performance.
This AI summary has been generated from information found on Charity Navigator.
Is Acacia Real Estate Development Inc C/O Office Of Legal Affairs legitimate?
Acacia Real Estate Development Inc C/O Office Of Legal Affairs is a legitimate nonprofit organization registered as a 501(c)(3) entity. Acacia Real Estate Development Inc C/O Office Of Legal Affairs 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: $64,619
For more financial information, click here
What is the mission statement of Acacia Real Estate Development Inc C/O Office Of Legal Affairs?
Acacia Real Estate Development Inc, under its Office of Legal Affairs, is committed to promoting community and economic development. Their primary focus is on providing housing accommodations for individuals and families of low income. This mission is executed through various activities, such as constructing housing units, securing necessary financing and funding, obtaining governmental approvals, and managing and leasing properties. They also engage in joint ventures with third parties to further their mission. Their ultimate goal is to contribute to the development of suitable living spaces for those in need.
Who is the CEO of Acacia Real Estate Development Inc C/O Office Of Legal Affairs?
Lymaris Albors is the President of Acacia Real Estate Development Inc C/O Office Of Legal Affairs. The CEO's salary of Acacia Real Estate Development Inc C/O Office Of Legal Affairs is $0 and their total compensation is $795,306.
What is the revenue of Acacia Real Estate Development Inc C/O Office Of Legal Affairs?
Acacia Real Estate Development Inc C/O Office Of Legal Affairs's revenue in 2022 was $1,182,964.
Who are the executives of Acacia Real Estate Development Inc C/O Office Of Legal Affairs and what are their salaries?
There 3 volunteers at Acacia Real Estate Development Inc C/O Office Of Legal Affairs.
Here are 9 key members and their salaries (Acacia Real Estate Development Inc C/O Office Of Legal Affairs's CEO's salary is $0 and their total compensation is $795,306):
- Compensation: $0
- Related: $861,432
- Other: $73,959
- Compensation: $0
- Related: $748,860
- Other: $46,446
- Compensation: $0
- Related: $560,176
- Other: $40,861
- Compensation: $0
- Related: $432,484
- Other: $41,248
- 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
Where can I find the form 990 for Acacia Real Estate Development Inc C/O Office Of Legal Affairs?
Acacia Real Estate Development Inc C/O Office Of Legal Affairs's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Acacia Real Estate Development Inc C/O Office Of Legal Affairs
Acacia Real Estate Development Inc C/O Office of Legal Affairs is dedicated to engaging in community and economic development activities. Their primary focus is on developing housing accommodations for individuals and families of low income. This mission is accomplished through various undertakings, such as construction, securing financing, obtaining equity funding, and securing governmental approvals and commitments. Furthermore, the organization also manages and leases the developed properties, and enters into joint ventures with third parties to facilitate the development process. In essence, Acacia Real Estate Development Inc C/O Office of Legal Affairs works tirelessly to provide affordable housing solutions and contribute to the overall improvement of their community.
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Impact
July, 2024
Acacia Real Estate Development Inc C/O Office Of Legal Affairs has a significant impact on the community and economic development in the Bronx, NY, by providing housing accommodations for persons and families of low income. Through its activities, such as construction, securing financing, obtaining equity funding, and property management, Acacia Real Estate Development Inc plays a crucial role in addressing the housing needs of the low-income population in the area. The organization's focus on developing affordable housing contributes to creating a more sustainable and inclusive community for individuals and families in need.
This information is meant to be a general summary of Acacia Real Estate Development Inc C/O Office Of Legal Affairs. 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: $1,182,964
- Gross Receipts: $1,182,964
Assets and Liabilities:
- Total Assets: $2,799,721
- Total Liabilities: $977,225
- Net Assets: $1,822,496
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INVEST EARNINGS FROM INTEREST IN HOUSING DEVELOPER
Revenue
$1,182,964
Organization Details
Founding Year
2017
Phone
(718) 299-1100Principal Officer
Lymaris Albors
Main Address
300 East 175th Street, Bronx, NY, 10457
NTEE Category
Code: L20 - Housing
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