Overview
What is Bedford 203 Housing Development Fund Corporation?
Bedford 203 Housing Development Fund Corporation is a nonprofit organization committed to developing and managing permanent supportive and affordable housing. Currently, they are working on a project located at 211 East 203rd Street in Bronx, NY. This project, named The Bedford, consists of 107 housing units and is funded by a social service organization. In addition to providing housing, Bedford 203 offers social services to its residents to support their well-being. The organization's mission is to offer a safe and affordable living environment for individuals from low-income backgrounds, thereby enhancing their overall quality of life.
Official website here: www.hsi-ny.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two Stars (66%)
The Bedford 203 Housing Development Fund Corporation has received a "Needs Improvement" rating, scoring 66% overall. While the organization excels in certain areas, such as having a high program expense ratio of 99.57%, indicating that most of its funds are directed towards its mission, it faces significant challenges in governance and financial accountability.
One major concern is the low percentage of independent board members, with only 33% of its members being independent, which raises questions about the effectiveness of oversight. Additionally, the organization has a concerning liabilities to assets ratio of 152.13%, indicating that its liabilities exceed its assets, which could impact its financial stability and sustainability in the long run.
Despite these limitations, Bedford 203 has established robust policies regarding conflict of interest, whistleblower protections, and document retention. However, it has not posted its tax form on its website, which could hinder transparency. Overall, while the organization shows strengths in program expenses and governance policies, improvements are necessary to enhance its accountability and overall performance.
This AI summary has been generated from information found on Charity Navigator.
Is Bedford 203 Housing Development Fund Corporation legitimate?
Bedford 203 Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bedford 203 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: $532,120
For more financial information, click here
Official website here: www.hsi-ny.org
What is the mission statement of Bedford 203 Housing Development Fund Corporation?
Bedford 203 Housing Development Fund Corporation is dedicated to operating permanent supportive and affordable housing. Currently, they are developing such housing facilities. The organization provides essential social services to the residents of their low-income supportive housing project. This project, known as The Bedford, houses 107 units and is funded by a social service. The corporation's mission is to provide a safe and supportive living environment for individuals in need, while also offering crucial social services to enhance their quality of life.
Official website here: www.hsi-ny.org
Who is the CEO of Bedford 203 Housing Development Fund Corporation?
James M Dill is the Trustee/Executive Director of Bedford 203 Housing Development Fund Corporation.
Official website here: www.hsi-ny.org
What is the revenue of Bedford 203 Housing Development Fund Corporation?
Bedford 203 Housing Development Fund Corporation's revenue in 2022 was $564,880.
Official website here: www.hsi-ny.org
Who are the executives of Bedford 203 Housing Development Fund Corporation and what are their salaries?
The average compensation at Bedford 203 Housing Development Fund Corporation during 2022 was $33,258. There are 16 employees at Bedford 203 Housing Development Fund Corporation.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $173,855
- Other: $28,207
- Compensation: $0
- Related: $172,294
- Other: $18,759
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $129,920
- Other: $19,365
- Compensation: $0
- Related: $122,442
- Other: $24,634
- Compensation: $0
- Related: $144,778
- Other: $0
- Compensation: $0
- Related: $147,505
- Other: $26,159
- Compensation: $0
- Related: $126,780
- Other: $0
Official website here: www.hsi-ny.org
Where can I find the form 990 for Bedford 203 Housing Development Fund Corporation?
Bedford 203 Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hsi-ny.org
Learn more at the official website: www.hsi-ny.org
Mission Statement of Bedford 203 Housing Development Fund Corporation
Bedford 203 Housing Development Fund Corporation is dedicated to operating permanent supportive and affordable housing. Currently, they are developing such housing, and once complete, they will provide social services to its residents. The organization's mission focuses on low-income individuals, offering them a stable living environment through its supportive housing project, known as The Bedford. Funded by a social service, this project features 107 housing units. By providing social services, Bedford 203 Housing Development Fund Corporation aims to support its residents, fostering a sense of community and promoting their well-being.
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Impact
July, 2024
Bedford 203 Housing Development Fund Corporation's impact is significant in providing permanent supportive and affordable housing to low-income residents in the Bronx, New York. Through their operation of the Bedford housing project, which consists of 107 housing units at 211 East 203rd Street, they are addressing the pressing need for affordable housing in the community. Additionally, the organization's provision of social services to the residents further enhances the support and well-being of individuals living in the supportive housing project. By actively working towards developing and maintaining such housing initiatives, Bedford 203 is contributing to the community's overall stability and ensuring that individuals in need have access to safe and affordable housing options.
This information is meant to be a general summary of Bedford 203 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.
- Gross Receipts: $564,880
Assets and Liabilities:
- Total Assets: $706,682
- Total Liabilities: $1,075,193
- Net Assets: -$368,511
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Organization Details
Founding Year
2018
Phone
(212) 252-9377Principal Officer
James M Dill
Main Address
243 WEST 30TH STREET 2ND FL, NEW YORK, NY, 10001
Website
www.hsi-ny.orgNTEE Category
Code: L99 - Housing
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