Overview
What is Howard Street Development Corporation?
Howard Street Development Corporation is a nonprofit organization situated in San Francisco, California, specifically at 201 Eddy Street. Its primary mission is to provide housing opportunities for individuals with low and extremely low incomes, particularly in the Tenderloin neighborhood. The corporation achieves this goal by acting as a general partner in a Low Income Housing Credit Limited Partnership, which manages 74 units of affordable multi-family housing and 88 studio apartments. Additionally, Howard Street Development Corporation supports the Tenderloin Neighborhood Development Corporation in fulfilling its objectives, with a significant focus on providing affordable housing for low-income senior residents in 2022.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating.
Howard Street Development Corporation has achieved a solid rating of 79%, indicating a commendable level of accountability and financial health. The organization excels in governance aspects, notably having a fully independent board and policies in place for conflict of interest and whistleblower protections. The high program expense ratio of 99.86% reflects a strong commitment to directing funds towards programmatic efforts.
However, the organization faces challenges with its liabilities to assets ratio, which stands at 335.34%, suggesting potential financial risk. This could be a concern for donors who favor organizations with a more balanced financial structure. Despite this limitation, the overall strengths in governance and programmatic spending underscore Howard Street Development Corporation's dedication to its mission and responsible management of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Howard Street Development Corporation legitimate?
Howard Street Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Howard Street Development 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 Howard Street Development Corporation?
The Howard Street Development Corporation's mission is centered around providing housing opportunities for individuals with low and extremely low income, particularly senior residents. This organization also supports the Tenderloin Neighborhood Development Corporation in carrying out its purpose. In 2022, one of their key activities involved operating 162 units of affordable housing, including both multi-family and studio units. This initiative aims to contribute to housing solutions for those in need, promoting a more inclusive living environment.
Who is the CEO of Howard Street Development Corporation?
Maurilio Leon is the Ceo of Howard Street Development Corporation. The CEO's salary of Howard Street Development Corporation is $0 and their total compensation is $338,922.
What is the revenue of Howard Street Development Corporation?
Howard Street Development Corporation's revenue in 2022 was $56,946.
Who are the executives of Howard Street Development Corporation and what are their salaries?
There 17 volunteers at Howard Street Development Corporation.
Here are 22 key members and their salaries (Howard Street Development Corporation's CEO's salary is $0 and their total compensation is $338,922):
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- Other: $9,238
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- Other: $2,481
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- Related: $99,445
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- Related: $205,742
- Other: $35,895
Where can I find the form 990 for Howard Street Development Corporation?
Howard Street Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Howard Street Development Corporation
Howard Street Development Corporation, a nonprofit organization, is dedicated to providing housing opportunities for individuals with low incomes. Its mission is twofold: firstly, to offer affordable housing solutions for seniors who fall into the low and extremely low-income categories. Secondly, it supports Tenderloin Neighborhood Development Corporation in executing its purpose. In essence, Howard Street Development Corporation serves as a general partner of a Low Income Housing Credit Limited Partnership, managing 74 units of affordable multifamily housing and 88 studio units of affordable housing, all aimed at catering to low-income individuals.
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Impact
October, 2024
Howard Street Development Corporation significantly impacts the Tenderloin neighborhood by providing affordable housing opportunities for low and extremely low-income individuals, particularly seniors. In 2022, the organization facilitated the operation of 74 multifamily units and 88 affordable studio housing units, which directly addresses the pressing housing needs of the community. By serving as a general partner in a low-income housing credit limited partnership, the corporation plays a vital role in making housing accessible to those who may otherwise be unable to secure stable living conditions. This initiative not only enhances the quality of life for residents but also contributes to the overall development and economic stability of the Tenderloin area. Through its dedicated efforts, Howard Street Development Corporation supports housing equity and fosters a sense of community among its residents.
This information is meant to be a general summary of Howard Street Development 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: $46,946
- Gross Receipts: $56,946
Assets and Liabilities:
- Total Assets: $3,817,260
- Total Liabilities: $12,800,987
- Net Assets: -$8,983,727
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ASSET MANAGEMENT FEE
Revenue
$46,920
OTHER REVENUE
Revenue
$25
GROUND LEASE REVENUE
Revenue
$1
Organization Details
Founding Year
1999
Phone
(415) 776-2151Principal Officer
Maurilio Leon
Main Address
201 EDDY STREET, SAN FRANCISCO, CA, 94102
NTEE Category
Code: L20 - Housing
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