The Parodneck Foundation for Self-Help Housing & Community Development Inc
The Parodneck Foundation for Self-Help Housing & Community Development Inc
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About this organization
Mission
The principal purpose of the organization is to provide direct financial and technical assistance to low income senior citizen homeowners, low income tenants, and community development efforts in the city of New York. This is accomplished through the provisions of no and low interest and forgivable loans, the administration of government loan funds for qualified low income individuals and groups, technical assistance to neighborhood preservation and development efforts, and counseling in the areas of predatory lending remediation, foreclosure prevention, and loss mitigation.
About
SCHAP - Senior Citizen Homeowner Assistance Program. Through this program, the foundation provides home improvement loans and other forms of financial assistance to low-income seniors who are at risk of losing their homes for reasons ranging from deferred maintenance to being victimized by predatory lenders. Resources for this program are obtained through public and private sources, the majority coming from the city of New York, acting through its department of housing preservation and development. The foundation is a licensed mortgage bank in the state of New York and originates and services mortgages that meet the credit needs of low and moderate income borrowers. Loan terms vary from conventional interest bearing and fully amortizable to fully forgivable loans.
Interesting data from their 2020 990 filing
The filing clearly states the mission of the non-profit as “The mission of the parodneck foundation for self-help housing and community development, inc. (the "foundation") is to provide financial and technical assistance to self-help housing and community development efforts throughout new york city. the foundation pursues this mission through a number of program initiatives, substantially all involving the provision of short-term and long-term financing.”.
When outlining its functions, they were explained as: “The principal purpose of the organization is to provide direct financial and technical assistance to low income senior citizen homeowners, low income tenants, and community development efforts in the city of new york. this is accomplished through the provisions of no and low interest and forgivable loans, the administration of government loan funds for qualified low income individuals and groups, technical assistance to neighborhood preservation and development efforts, and counseling in the areas of predatory lending remediation, foreclosure prevention, and loss mitigation.”.
- In compliance with legal regulations, the non-profit has reported their state of operation as NY.
- The filing records the non-profit's address for 2020 as 121 SIXTH AVE, NEW YORK, NY, 10013.
- As of 2020, the non-profit's form reports a total of 8 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is -$246,372.
- The organization has 4 independent voting members.
- The organization was formed in 1970.
- The organization pays $613,065 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
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