Overview
What is Ndc Housing & Economic Development Corporation - Group Return?
The Ndc Housing & Economic Development Corporation is a nonprofit organization dedicated to creating quality affordable housing for disadvantaged communities and stimulating economic development in low-income areas. They also construct and maintain public buildings to lessen the burdens of government and promote social welfare. In 2022, the corporation began pre-construction work on two projects, acting as the owner/developer for a parking garage in Riverhead, New York, and a mixed-use development in Hartford, which will provide space for the city's Department of Health and additional retail uses. In total, they have developed and financed over thirty-one properties at a cost of more than $2.5 billion on behalf of local governments. Their projects include public buildings, city halls, educational and medical research facilities, student housing, parking facilities, and other public infrastructure.
Official website here: www.growamerica.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 62%, earning a Two-Star out of Four Star rating.
Ndc Housing & Economic Development Corporation has received a two-star rating from Charity Navigator, indicating that the organization faces challenges in its accountability and financial practices. While it excels in areas such as having a majority of independent board members and maintaining a conflict of interest policy, it notably struggles with transparency, particularly regarding its financial statements and the posting of its tax forms on its website.
Strengths of the organization include a solid program expense ratio, demonstrating that it allocates a significant portion of its budget towards its programs. However, the lack of financial transparency, as evidenced by the low scores in financial statements and liabilities to assets ratio, raises concerns about its overall fiscal health and accountability.
In summary, while Ndc Housing & Economic Development Corporation shows commitment in governance and program spending, its financial reporting shortcomings may affect its credibility and donor trust. Prospective supporters should consider these factors when evaluating their contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Ndc Housing & Economic Development Corporation - Group Return legitimate?
Ndc Housing & Economic Development Corporation - Group Return is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ndc Housing & Economic Development Corporation - Group Return 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
Official website here: www.growamerica.org
What is the mission statement of Ndc Housing & Economic Development Corporation - Group Return?
The Ndc Housing & Economic Development Corporation is dedicated to creating affordable housing for disadvantaged individuals and stimulating economic development in low-income areas. Part of their charitable objectives involve constructing new low-income housing, managing, operating, and promoting existing ones, and financing and supporting their development. Additionally, they collaborate with local governments to erect public buildings, monuments, and facilities, aiming to lessen the burdens of government. The corporation's mission encompasses the development and financing of over $2.5 billion worth of properties, primarily focusing on public buildings, city halls, educational and medical research facilities, student housing, parking facilities, and other public infrastructure. During 2022, the corporation began pre-construction work on two projects, acting as the owner/developer for one, a parking garage for a town, and another mixed-use project, providing space for a city's department of health and some retail uses.
Official website here: www.growamerica.org
Who is the CEO of Ndc Housing & Economic Development Corporation - Group Return?
Daniel Marsh Iii is the Bd Member/Coo of Ndc Housing & Economic Development Corporation - Group Return.
Official website here: www.growamerica.org
What is the revenue of Ndc Housing & Economic Development Corporation - Group Return?
Ndc Housing & Economic Development Corporation - Group Return's revenue in 2022 was $115,628,960.
Official website here: www.growamerica.org
Who are the executives of Ndc Housing & Economic Development Corporation - Group Return and what are their salaries?
There 17 volunteers at Ndc Housing & Economic Development Corporation - Group Return.
Here are 29 key members and their salaries:
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- Related: $220,109
- Other: $90,195
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- Related: $209,259
- Other: $27,998
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- Other: $86,257
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- Related: $452,944
- Other: $190,813
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- Related: $214,643
- Other: $85,560
- Compensation: $0
- Related: $213,515
- Other: $120,444
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- Other: $0
- Compensation: $0
- Related: $214,066
- Other: $81,711
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- Other: $0
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- Related: $243,106
- Other: $90,436
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- Related: $252,267
- Other: $104,725
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- Related: $216,670
- Other: $72,461
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- Related: $215,123
- Other: $73,474
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- Other: $0
- Compensation: $0
- Related: $101,193
- Other: $77,225
Official website here: www.growamerica.org
Where can I find the form 990 for Ndc Housing & Economic Development Corporation - Group Return?
Ndc Housing & Economic Development Corporation - Group Return's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.growamerica.org
Learn more at the official website: www.growamerica.org
Mission Statement of Ndc Housing & Economic Development Corporation - Group Return
Ndc Housing & Economic Development Corporation, commonly known as HEDC, is a mission-driven organization established with the charitable purpose of creating quality affordable housing for the disadvantaged, stimulating economic development, and generating jobs in low-income areas. The Corporation further aims to lessen the burdens of government and promote social welfare.
HEDC's primary focus is on constructing new low-income housing and developing, managing, operating, promoting, funding, and supporting existing ones. By partnering with local governments, HEDC also contributes to erecting and maintaining public buildings, monuments, and facilities. This holistic approach allows HEDC to address various aspects of community development and well-being. Over the years, HEDC has developed and financed more than thirty-one properties with a total cost exceeding $2.5 billion on behalf of local governments.
The organization's underlying mission is to "lessen the burden of government." In 2022, HEDC began pre-construction work on two projects as the owner/developer, adhering to this mission. The first project is a parking garage for the Town of Riverhead, New York, which is expected to close financing and begin construction in 2024. The second project is a mixed-use development in the City of Hartford, which will provide space for the city's Department of Health, as well as some additional retail uses. The transaction for this project is set to have a final closing on all financing in early 2024.
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Impact
October, 2024
NDC Housing & Economic Development Corporation - Group Return significantly impacts communities by addressing the critical need for quality affordable housing and promoting economic development in low-income areas. Its initiatives not only create new housing opportunities for disadvantaged populations but also stimulate local economies and create jobs. The organization's collaboration with local governments to develop public infrastructure—such as city halls, medical research facilities, and student housing—enhances community resources while lightening the burdens on government entities.
In 2022, NDC began crucial projects, including a parking garage in Riverhead, NY, and a mixed-use development in Hartford, CT, which will host the city's Health Department alongside retail spaces. Both projects are set to commence construction in 2024, demonstrating NDC's ongoing commitment to addressing community needs through strategic development efforts. The cumulative result of these projects, which exceed $2.5 billion in financing across thirty-one properties, reflects a robust investment in improving living conditions and fostering economic growth where it is needed most.
This information is meant to be a general summary of Ndc Housing & Economic Development Corporation - Group Return. 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.
- Investment Income: -$2,515,552
- Program Service Revenue: $75,619,828
- Gross Receipts: $118,144,512
Assets and Liabilities:
- Total Assets: $906,903,124
- Total Liabilities: $791,875,336
- Net Assets: $115,027,788
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$57,816,922
INTEREST REVENUE
Revenue
$15,271,305
DEVELOPER FEE INCOME
Revenue
$1,481,601
FINANCIAL ASSISTANCE
Revenue
$1,050,000
Organization Details
Founding Year
1988
Phone
(212) 682-1106Principal Officer
Daniel Marsh Iii
Main Address
633 THIRD AVE 19J, NEW YORK, NY, 10017
Website
www.growamerica.orgNTEE Category
Code: L200 - Housing
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