Overview
What is 532 East 6th Street Housing Development Fund Corporation?
532 East 6th Street Housing Development Fund Corporation is a nonprofit organization situated in New York, NY. Their primary mission is to develop, construct, and manage low-income housing projects. By operating within this sector, they contribute significantly to providing affordable housing solutions for individuals in need. The corporation's primary focus lies in housing development and management.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, 73%
532 East 6th Street Housing Development Fund Corporation has received a Two-Star out of Four Star rating from Charity Navigator, indicating areas that require attention. The organization scores well in several governance aspects, including having a fully independent board and maintaining a low liabilities to assets ratio. However, the overall score reflects a need for improvement in transparency and adherence to best practices.
Key strengths include an impressive program expense ratio of 87.25%, demonstrating a strong commitment to programmatic activities. The organization shows solid governance through documented board meeting minutes and an independent board structure. Despite these positives, the lack of key policies, such as a conflict of interest policy and a whistleblower policy, raises concerns about operational transparency.
Limitations noted in the evaluation include missing documentation related to tax forms and organizational policies, which contribute to a lower accountability score. This could impact potential donors' confidence in the organization's governance. Addressing these gaps could enhance its overall rating and effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is 532 East 6th Street Housing Development Fund Corporation legitimate?
532 East 6th Street Housing Development Fund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. 532 East 6th Street 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: $11,829
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What is the mission statement of 532 East 6th Street Housing Development Fund Corporation?
The 532 East 6th Street Housing Development Fund Corporation is dedicated to operating a low-income housing project. As its main operational focus, the organization is involved in housing development, construction, and management. The corporation's mission revolves around providing affordable housing solutions for individuals in need. By engaging in these activities, the organization aims to contribute positively to the community and address the housing needs of those with limited resources.
Who is the CEO of 532 East 6th Street Housing Development Fund Corporation?
Francesca Manisco is the Treasurer of 532 East 6th Street Housing Development Fund Corporation.
What is the revenue of 532 East 6th Street Housing Development Fund Corporation?
532 East 6th Street Housing Development Fund Corporation's revenue in 2022 was $116,110.
Who are the executives of 532 East 6th Street Housing Development Fund Corporation and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for 532 East 6th Street Housing Development Fund Corporation?
532 East 6th Street Housing Development Fund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 532 East 6th Street Housing Development Fund Corporation
532 East 6th Street Housing Development Fund Corporation is a non-profit organization that is dedicated to the development, construction, and management of low-income housing projects. Their primary mission is to provide affordable housing solutions for individuals who may not have access to such opportunities otherwise. This organization plays a crucial role in the housing sector, contributing to the development and maintenance of properties that cater to a specific demographic. By engaging in housing development, construction, and management, 532 East 6th Street Housing Development Fund Corporation is making a significant impact on the lives of those who rely on their services. Their work helps ensure that individuals and families have a safe and secure place to call home, regardless of their financial circumstances.
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Impact
October, 2024
532 East 6th Street Housing Development Fund Corporation plays a critical role in addressing the housing needs of low-income residents in New York City. By operating a low-income housing project, it contributes to the availability of affordable housing, which is vital in a city where housing costs have skyrocketed.
The organization focuses on housing development, construction, and management, ensuring that these residences are not only available but also well-maintained. This impact extends beyond mere shelter; it fosters community stability and promotes social equity by providing safe and reliable housing options for those who may otherwise be displaced or unable to afford living in urban environments.
Additionally, the work of the corporation helps alleviate some of the pressures of housing insecurity in New York, contributing to a more inclusive community. This commitment to supporting low-income individuals and families ultimately enhances the overall well-being of the neighborhood, making it a more vibrant and diverse place to live.
This information is meant to be a general summary of 532 East 6th Street 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.
- Investment Income: $2,464
- Program Service Revenue: $113,646
- Gross Receipts: $116,110
Assets and Liabilities:
- Total Assets: $811,046
- Total Liabilities: $261,669
- Net Assets: $549,377
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$113,646
Organization Details
Founding Year
1992
Phone
(212) 473-5940Principal Officer
Francesca Manisco
Main Address
228 EAST 3RD STREET, NEW YORK, NY, 10009
NTEE Category
Code: L21 - Housing
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