1114 Morris Avenue Housing Development Fund Corp

1114 Morris Avenue Housing Development Fund Corp (HDFC) is a nonprofit organization classified as a public charity under section 501(c)(3) of the Internal Revenue Code. It is based in the Bronx, New York, and specializes in the rehabilitation and preservation of housing units, contributing to affordable housing development within the community.

Mission and Activities

The organization’s primary focus is on rehabilitating housing in the Bronx, aiming to improve living conditions and promote stable, affordable housing options for residents. By managing and restoring existing housing stock, it supports community revitalization efforts and helps maintain neighborhood stability.

Financial Overview

According to publicly available financial data, 1114 Morris Avenue Housing Development Fund Corp reported an annual revenue of approximately $684,817 to $753,000 in recent years, with corresponding expenses closely matching revenues, indicating a balanced budget approach. The organization holds total assets valued near $1.79 million to $2 million, with liabilities significantly lower, demonstrating overall fiscal health. It did not issue grants in the latest reported fiscal year but focuses its resources on direct housing rehabilitation projects.

Governance and Structure

As a Housing Development Fund Corporation, it operates under state and local regulations pertinent to HDFCs in New York, emphasizing nonprofit management of residential properties for community benefit.

Community Impact

Through its housing development initiatives, 1114 Morris Avenue Housing Development Fund Corp contributes to affordable housing availability in the Bronx, helping address housing needs in an area with high demand and limited affordable options.

This summary is based on publicly accessible nonprofit financial and operational data.