Overview
What is 1270 Pacific Housing Development Fund Co Corporation?
1270 Pacific Housing Development Fund Co Corporation is a nonprofit entity, located in New York City, specifically at 75 Broad Street, New York, NY 10004. Their primary mission is to offer transitional housing solutions for homeless families, referring them from the NYC Department of Homeless Services. Since its establishment, the corporation has exclusively served as a property title holder. The responsibility for maintaining, developing, and operating any property owned by the fund was initially delegated to Urban Resource Institute. The organization's main objective remains providing a temporary living space for families in need, aiming to support their transition towards stability.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (54%)
The 1270 Pacific Housing Development Fund Co Corporation has received a low rating of 54%, resulting in a One-Star classification. This rating reflects a significant concern in its accountability and finance metrics, which make up the entirety of its score. While the organization demonstrates strengths in governance, including a fully independent board and proper conflict of interest and whistleblower policies, its financial performance raises red flags, notably with a concerning liabilities to assets ratio.
The organization scores well in several governance aspects, including 100% independent board members and a robust audit and oversight committee. These factors suggest a commitment to operational transparency. However, the lack of program expenses indicates that the organization may not be effectively directing its resources towards its intended charitable mission, which is critical in evaluating its overall impact and sustainability.
In summary, while the 1270 Pacific Housing Development Fund Co Corporation exhibits strong governance practices, its financial health and lack of program spending create notable limitations. Potential donors and stakeholders may wish to exercise caution and seek further information on the organization's operational effectiveness and mission delivery.
This AI summary has been generated from information found on Charity Navigator.
Is 1270 Pacific Housing Development Fund Co Corporation legitimate?
1270 Pacific Housing Development Fund Co Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 1270 Pacific Housing Development Fund Co 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: $0
For more financial information, click here
What is the mission statement of 1270 Pacific Housing Development Fund Co Corporation?
The 1270 Pacific Housing Development Fund Co Corporation's mission is centered around providing transitional housing for homeless families. This organization has a commitment to construct, rehabilitate, and operate housing units, with families referred by the NYC Department of Homeless Services as its primary focus. Initially, the company solely held title to the properties, delegating the responsibility for maintaining, developing, and operating these properties to the Urban Resource Institute.
Who is the CEO of 1270 Pacific Housing Development Fund Co Corporation?
Carla Smith is the CEO of 1270 Pacific Housing Development Fund Co Corporation The CEO's salary of 1270 Pacific Housing Development Fund Co Corporation is $0 and their total compensation is $333,224.
What is the revenue of 1270 Pacific Housing Development Fund Co Corporation?
1270 Pacific Housing Development Fund Co Corporation's revenue in 2023 was $574,064.
Who are the executives of 1270 Pacific Housing Development Fund Co Corporation and what are their salaries?
There 3 volunteers at 1270 Pacific Housing Development Fund Co Corporation.
Here are 6 key members and their salaries (1270 Pacific Housing Development Fund Co Corporation's CEO's salary is $0 and their total compensation is $333,224):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $287,576
- Other: $23,686
- Compensation: $0
- Related: $289,471
- Other: $43,753
- Compensation: $0
- Related: $505,550
- Other: $75,418
Where can I find the form 990 for 1270 Pacific Housing Development Fund Co Corporation?
1270 Pacific Housing Development Fund Co Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of 1270 Pacific Housing Development Fund Co Corporation
1270 Pacific Housing Development Fund Co Corporation is dedicated to providing transitional housing solutions for homeless families. Their primary mission is centered around constructing, rehabilitating, and operating housing units, which are then handed over to families referred by the New York City Department of Homeless Services. Initially, this corporation served as a title-holding entity, with the responsibility for maintaining, developing, and operating any property under its ownership being delegated to Urban Resource Institute at its inception.
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Impact
July, 2024
1270 Pacific Housing Development Fund Co Corporation has made a significant impact by providing transitional housing for homeless families in New York City. The organization focuses on constructing, rehabilitating, and operating housing for homeless families referred by the NYC Department of Homeless Services. By exclusively serving as a company holding title to property, 1270 Pacific Housing Development Fund Co Corporation has effectively delegated the responsibility for maintaining, developing, and operating the properties to Urban Resource Institute, ensuring that homeless families have a safe and stable place to stay during difficult times.
This information is meant to be a general summary of 1270 Pacific Housing Development Fund Co 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 2023.
- Program Service Revenue: $574,064
- Gross Receipts: $574,064
Assets and Liabilities:
- Total Assets: $8,388,423
- Total Liabilities: $8,375,475
- Net Assets: $12,948
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACT REVENUE
Revenue
$574,064
Organization Details
Founding Year
2019
Principal Officer
Nathaniel Fields
NTEE Category
Code: L40 - Housing
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