Overview
What is L&T Affordable Housing Urban Renewal Corporation?
L&T Affordable Housing Urban Renewal Corporation is a nonprofit organization situated in Cliffside Park, New Jersey, with an address at 596 Anderson Avenue. Their primary mission is to offer and manage housing solutions for families with moderate and low incomes. This organization is committed to making a significant impact in their community by ensuring accessible and affordable living options, thereby contributing to societal equality and well-being.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star Rating)
L&T Affordable Housing Urban Renewal Corporation has received an 82% score, reflecting a solid Three-Star rating based on its accountability and finance. This rating indicates that the organization demonstrates a strong commitment to fiscal responsibility and transparency, which is a significant strength for potential donors and stakeholders. The score is derived entirely from its accountability and finance metrics, showcasing the charity's focus on maintaining high standards in these areas.
The organization boasts a fully independent board, with 100% of its members being independent, and it has a well-structured governance framework. The board size consists of six independent members, and the charity has received top scores for its audit and oversight committee, material diversion of assets, and documentation of board meeting minutes. These components underline the charity's effective oversight and commitment to sound financial practices.
While the organization excels in several financial metrics, such as a strong program expense ratio of 100%, it maintains a liabilities to assets ratio of 42.20%, which is relatively healthy. Overall, the organization’s strengths in accountability and governance suggest that it is well-positioned to fulfill its mission effectively, although potential donors might want to consider the broader impact and effectiveness of its programs beyond financial metrics alone.
This AI summary has been generated from information found on Charity Navigator.
Is L&T Affordable Housing Urban Renewal Corporation legitimate?
L&T Affordable Housing Urban Renewal Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. L&T Affordable Housing Urban Renewal 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: $59,474
For more financial information, click here
What is the mission statement of L&T Affordable Housing Urban Renewal Corporation?
L&T Affordable Housing Urban Renewal Corporation is committed to a mission of providing and managing housing solutions for families with modest and low incomes. This organization's primary objective is to ensure that these families have access to suitable living spaces. By undertaking this mission, the corporation aims to contribute positively to the local community and help families in need achieve stable living situations. The corporation's activities are centered around the provision of housing, demonstrating its dedication to addressing housing affordability concerns.
Who is the CEO of L&T Affordable Housing Urban Renewal Corporation?
Louis Ric is the Principal Officer of L&T Affordable Housing Urban Renewal Corporation.
What is the revenue of L&T Affordable Housing Urban Renewal Corporation?
L&T Affordable Housing Urban Renewal Corporation's revenue in 2022 was $1,363,037.
Who are the executives of L&T Affordable Housing Urban Renewal Corporation and what are their salaries?
There 6 volunteers at L&T Affordable Housing Urban Renewal Corporation.
Here are 6 key members and their salaries:
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Where can I find the form 990 for L&T Affordable Housing Urban Renewal Corporation?
L&T Affordable Housing Urban Renewal Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of L&T Affordable Housing Urban Renewal Corporation
L&T Affordable Housing Urban Renewal Corporation is committed to a significant mission. This nonprofit organization focuses on providing and managing housing for families who fall under the categories of low and moderate income. By undertaking this mission, L&T Affordable Housing Urban Renewal Corporation aims to make a substantial impact on the lives of these families, offering them a stable living environment. The corporation's primary objective is to ensure that affordable housing becomes an achievable reality for these families, thereby enhancing their overall quality of life.
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Impact
July, 2024
L&T Affordable Housing Urban Renewal Corporation's impact is significant as it provides essential housing for low and moderate-income families in Cliffside Park, NJ. By offering affordable housing options, this organization plays a vital role in addressing housing insecurity and improving the quality of life for families in need in the community. Their mission to provide and manage housing for those in need directly contributes to creating a more inclusive and supportive living environment for vulnerable populations.
This information is meant to be a general summary of L&T Affordable Housing Urban Renewal 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: $307,076
- Gross Receipts: $1,363,037
Assets and Liabilities:
- Total Assets: $2,911,333
- Total Liabilities: $1,228,678
- Net Assets: $1,682,655
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL UNITS
Revenue
$307,076
Organization Details
Founding Year
2019
Phone
(201) 943-4449Principal Officer
Louis Ric
Main Address
596 ANDERSON AVENUE, CLIFFSIDE PARK, NJ, 07010
NTEE Category
Code: L40 - Housing
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