Overview
What is South Suburban Affordable Housing Inc?
South Suburban Affordable Housing Inc is a nonprofit organization situated in South Weymouth, Massachusetts. Their primary mission is to develop, manage, and renovate housing units specifically for households with incomes below 80% of the median income. The organization stands out by ensuring that 100% of its 20-unit development is occupied by income-eligible families, which is not a common practice in the affordable housing sector. This project also aligns with the Commonwealth's smart growth policy, as it is situated near the commuter rail station in South Weymouth. The organization's activities encompass fostering, financing, leasing, selling, and buying properties to provide affordable housing options for the local community.
Is South Suburban Affordable Housing Inc legitimate?
South Suburban Affordable Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. South Suburban Affordable Housing 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 South Suburban Affordable Housing Inc?
South Suburban Affordable Housing Inc's mission is centered around fostering, managing, developing, building, financing, leasing, selling, buying, and renovating housing for households earning below 80% of the median income. Their primary objective is to provide affordable housing options for these income-eligible households. The organization is currently engaged in the development of a 20-unit affordable housing development, with all units intended for occupation by income-eligible households. This is an unusual approach, as typically, only 25% of units in affordable housing developments are reserved for households earning below 80% of the median income. This particular development is a rental property, located within walking distance of a commuter rail station, aligning with the Commonwealth's smart growth policy.
Who is the CEO of South Suburban Affordable Housing Inc?
Donald Sheehan is the Director of South Suburban Affordable Housing Inc.
What is the revenue of South Suburban Affordable Housing Inc?
South Suburban Affordable Housing Inc's revenue in 2022 was $49.
Who are the executives of South Suburban Affordable Housing Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- 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 South Suburban Affordable Housing Inc?
South Suburban Affordable Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of South Suburban Affordable Housing Inc
South Suburban Affordable Housing Inc is dedicated to promoting, managing, developing, constructing, financing, leasing, selling, purchasing, and renovating housing for households earning less than 80% of the median income. The organization's mission is to provide affordable housing solutions, ensuring that a substantial portion of its properties is occupied by income-eligible households. This is an unusual approach in the affordable housing sector, as most developments allocate only 25% of their units for households below the 80% income threshold, with the remaining units being accessible to market tenants.
South Suburban Affordable Housing Inc's mission is exemplified in a current project - the development of a 20-unit affordable housing development. This initiative aims to provide homes for low and moderate-income households, with all 20 units being occupied by income-eligible families. This rental development not only contributes to the organization's mission but also aligns with the Commonwealth's Smart Growth policy, as it is situated within walking distance of a commuter rail station in South Weymouth. This strategic location not only makes the housing development more accessible but also encourages sustainable transportation options.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
South Suburban Affordable Housing Inc. significantly impacts the Weymouth community by developing essential affordable housing solutions. The organization is dedicated to creating a 20-unit affordable housing development specifically for low and moderate-income households earning less than 80% of the median income. What sets this initiative apart is its commitment to ensuring that all 20 units will be occupied by income-eligible households, a rarity in affordable housing projects where typically only 25% of units meet this criterion.
This development not only addresses the pressing need for affordable housing in the region but is also strategically located within walking distance of the commuter rail station in South Weymouth, aligning with the Commonwealth's smart growth policy. By fostering a community where low- and moderate-income families can thrive, South Suburban Affordable Housing Inc. plays a vital role in enhancing economic stability, promoting diversity, and improving the overall quality of life in South Weymouth.
This information is meant to be a general summary of South Suburban Affordable Housing 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.
- Gross Receipts: $49
Assets and Liabilities:
- Total Assets: $164,701
- Total Liabilities: $0
- Net Assets: $164,701
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2001
Phone
(617) 699-0435Principal Officer
Donald Sheehan
Main Address
145 BALD EAGLE ROAD, SOUTH WEYMOUTH, MA, 02190
NTEE Category
Code: L20 - Housing
If you are a representative of South Suburban Affordable Housing Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.