Overview
What is 90 Sands Housing Development Fund Corporation?
90 Sands Housing Development Fund Corporation is a nonprofit organization situated in New York City, specifically at 505 Eighth Avenue, 5th Floor. Their primary mission is to operate a housing project, offering supportive accommodations for formerly homeless young adults and low-income single adults. The building, standing at 29 stories tall, houses 305 studio units for the former group and 202 residential units for income-bridged families, with incomes ranging from 30% to 100% of the area median income (AMI). On-site social services are available, including personalized case management, primary medical care, mental health services, vocational guidance, and benefits counseling. The ground floor and cellar spaces of the building are intended for community facilities and manufacturing tenants.
Official website here: www.breakingground.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (66%)
The 90 Sands Housing Development Fund Corporation has received a two-star rating from Charity Navigator, indicating a need for improvement in its accountability and finance practices. The organization scored 66%, reflecting some strengths in financial oversight, such as a fully compliant audit and oversight committee, and a strong program expense ratio, which shows effective use of funds for its mission.
However, the organization faces significant challenges, particularly in governance, as it has no independent board members and lacks a robust board size. The absence of independent oversight may raise concerns about transparency and accountability. Additionally, the organization did not post its tax form on its website, which detracts from its overall transparency.
While the nonprofit demonstrates strong policies regarding conflict of interest, whistleblower protections, and document retention, its liabilities to assets ratio raises flags about financial health. Overall, while there are positive aspects to note, the organization must address its governance issues to enhance accountability and improve its rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is 90 Sands Housing Development Fund Corporation legitimate?
90 Sands Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 90 Sands Housing Development Fund Corporation 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: $603,064
For more financial information, click here
Official website here: www.breakingground.org
What is the mission statement of 90 Sands Housing Development Fund Corporation?
The 90 Sands Housing Development Fund Corporation operates a housing project with the primary objective of benefiting formerly homeless young adults. This organization provides eligible young adults, who were formerly homeless and have low income, with housing, job training, and employment services. The mission of 90 Sands encompasses operating a 29-story building that houses 305 studio units of supportive housing for adults with chronic mental illness and 202 units for low- and moderate-income households. The on-site social services offered include individualized case management, primary medical care, mental health services, vocational guidance, and benefits counseling.
Official website here: www.breakingground.org
Who is the CEO of 90 Sands Housing Development Fund Corporation?
Brenda Rosen is the President And Ceo of 90 Sands Housing Development Fund Corporation. The CEO's salary of 90 Sands Housing Development Fund Corporation is $0 and their total compensation is $600,372.
Official website here: www.breakingground.org
What is the revenue of 90 Sands Housing Development Fund Corporation?
90 Sands Housing Development Fund Corporation's revenue in 2022 was $1,094,025.
Official website here: www.breakingground.org
Who are the executives of 90 Sands Housing Development Fund Corporation and what are their salaries?
Here are 5 key members and their salaries (90 Sands Housing Development Fund Corporation's CEO's salary is $0 and their total compensation is $600,372):
- Compensation: $0
- Related: $587,598
- Other: $12,774
- Compensation: $0
- Related: $306,168
- Other: $43,943
- Compensation: $0
- Related: $256,279
- Other: $19,123
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $338,301
- Other: $43,787
Official website here: www.breakingground.org
Where can I find the form 990 for 90 Sands Housing Development Fund Corporation?
90 Sands Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.breakingground.org
Learn more at the official website: www.breakingground.org
Mission Statement of 90 Sands Housing Development Fund Corporation
90 Sands Housing Development Fund Corporation is dedicated to operating a housing project that benefits formerly homeless young adults. Their mission involves providing more than just a place to live; they offer eligible young adults, who have experienced homelessness and fall into the low-income bracket, access to job training and employment services. The organization's 29-story building, located at 90 Sands Street, includes 305 studio units of supportive housing for adults struggling with chronic mental illness, as well as 202 units for low- and moderate-income households.
On-site social services are a significant aspect of 90 Sands' mission. These services include individualized case management, primary medical care, mental health services, vocational guidance, and benefits counseling. By offering these comprehensive services, the nonprofit aims to support its residents in overcoming their challenges and reintegrating into society. The building also includes community facilities and manufacturing tenants on the ground floor and cellar spaces, contributing to the overall well-being and self-sufficiency of its residents.
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Impact
July, 2024
90 Sands Housing Development Fund Corporation's impact lies in providing crucial support and housing for formerly homeless young adults in New York City. The organization operates a housing project that offers a stable living environment, access to job training, and employment services to eligible individuals. The 29-story building at 90 Sands Street accommodates 305 studio units of supportive housing for formerly homeless adults with chronic mental illness, as well as 202 units for low- and moderate-income households. On-site social services include individualized case management, primary medical care, mental health services, vocational guidance, and benefits counseling. By addressing the housing needs of vulnerable populations and providing essential support services, 90 Sands is making a tangible difference in the lives of those it serves.
This information is meant to be a general summary of 90 Sands Housing Development Fund Corporation. 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: $1,094,025
- Gross Receipts: $1,094,025
Assets and Liabilities:
- Total Assets: $245,808,774
- Total Liabilities: $272,423,229
- Net Assets: -$26,614,455
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME HOUSING RENTAL INCOME
Revenue
$650,142
TENANT HOUSING (GOV'T CONTRACTS)
Revenue
$443,883
Organization Details
Founding Year
2018
Phone
(212) 389-9300Principal Officer
Brenda Rosen
Main Address
505 EIGHTH AVENUE 5TH FLOOR, NEW YORK, NY, 10018
Website
www.breakingground.orgNTEE Category
Code: L20 - Housing
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