Overview
What is Old Vineyard Street Residents' Association Inc?
Old Vineyard Street Residents' Association Inc is a nonprofit organization situated at 50 S Beretania Street C-101, Honolulu, HI 96813. Their primary mission is to provide housing accommodations for individuals and families with low to moderate incomes. They achieve this by renting out 32 units, and the rental income is subsidized through Housing Assistance Payments provided by the U.S. Department of Housing and Urban Development (HUD) on behalf of the tenants, under the Federal Section 8 Housing Assistance Payment Contract. This arrangement allows the nonprofit to offer affordable housing options to those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Star rating)
The Old Vineyard Street Residents' Association Inc has received a 67% score from Charity Navigator, reflecting a Two-Star rating. This rating indicates that while the organization demonstrates some positive accountability and financial practices, it also has areas needing improvement. Notably, the organization scores well in board independence and financial management, with a majority of independent board members and a strong liabilities to assets ratio.
Strengths of the organization include a high program expense ratio of 87.82%, suggesting that a significant portion of its resources is directed toward its programs rather than administrative costs. Additionally, the organization has effectively documented board meeting minutes and has shown no material diversion of assets, indicating responsible stewardship of funds.
However, the overall rating of 67% suggests that there are potential concerns regarding the organization’s operational effectiveness or transparency that may warrant further investigation by potential donors or stakeholders. Improvements in these areas could enhance its standing and impact within the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Old Vineyard Street Residents' Association Inc legitimate?
Old Vineyard Street Residents' Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Old Vineyard Street Residents' Association Inc 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 Old Vineyard Street Residents' Association Inc?
The Old Vineyard Street Residents' Association Inc is dedicated to providing housing solutions for individuals and families with low to moderate incomes. Their mission is manifested through the rental of 32 units, which are subsidized by the Housing Assistance Payments subsidies from the U.S. Department of Housing and Urban Development (HUD). These subsidies are designed to support the tenants under the Federal Section 8 Housing Assistance Payment contract. In essence, the association's primary goal is to make affordable housing available to those who need it most.
Who is the CEO of Old Vineyard Street Residents' Association Inc?
Akihiko Sinoto is the President of Old Vineyard Street Residents' Association Inc.
What is the revenue of Old Vineyard Street Residents' Association Inc?
Old Vineyard Street Residents' Association Inc's revenue in 2022 was $528,793.
Who are the executives of Old Vineyard Street Residents' Association Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $17,784
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $6,615
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Old Vineyard Street Residents' Association Inc?
Old Vineyard Street Residents' Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Old Vineyard Street Residents' Association Inc
Old Vineyard Street Residents' Association Inc is dedicated to providing housing solutions for individuals and families with low to moderate incomes. The primary objective of this nonprofit organization is to offer housing options, ensuring that those who fall under this income bracket have a place to call home. To accomplish this mission, Old Vineyard Street Residents' Association Inc generates rental income from the 32 units they rent out. This income is substantially aided by Housing Assistance Payment Subsidies, which are funded by the U.S. Department of Housing and Urban Development (HUD) on behalf of the tenants. By doing so, the organization is able to keep the rent affordable for the low and moderate income individuals and families residing in these units, under the Federal Section 8 Housing Assistance Payment Contract.
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Impact
July, 2024
Old Vineyard Street Residents' Association Inc's impact lies in providing affordable housing for low and moderate-income individuals and families in Honolulu, Hawaii. Through the rental of 32 units, this organization ensures that those in need have a place to call home. By subsidizing rental income with Housing Assistance Payment subsidies from the U.S. Department of Housing and Urban Development under the Federal Section 8 program, they are able to make housing more accessible for their tenants. This crucial support helps to address housing insecurity and contribute to the overall well-being of the community.
This information is meant to be a general summary of Old Vineyard Street Residents' Association Inc. 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: $59
- Program Service Revenue: $523,845
- Gross Receipts: $528,793
Assets and Liabilities:
- Total Assets: $945,639
- Total Liabilities: $34,082
- Net Assets: $911,557
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$523,845
Organization Details
Founding Year
1974
Phone
(808) 524-2731Principal Officer
Akihiko Sinoto
Main Address
50 S BERETANIA STREET C-101, HONOLULU, HI, 96813
NTEE Category
Code: L50 - Housing
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