Overview
What is Lasalle Park Homes Ii Inc?
Lasalle Park Homes II Inc is a not-for-profit organization established in Indiana, with a primary goal to construct, own, and manage a 42-unit apartment community named William C. Ellison Residence in South Bend, Indiana. The organization operates under Section 202 of the National Affordable Housing Act, and its operations are governed by a regulatory agreement with the Federal Housing Administration section of HUD. Lasalle Park Homes II Inc also has a Project Rental Assistance Contract (PRAC Contract) with HUD, which provides rent assistance to low-income families or individuals as part of the Section 8 program of the National Housing Act. The organization's mission is to provide affordable housing solutions to the community.
Is Lasalle Park Homes Ii Inc legitimate?
Lasalle Park Homes Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lasalle Park Homes Ii 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:
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What is the mission statement of Lasalle Park Homes Ii Inc?
Lasalle Park Homes II Inc., as a not-for-profit corporation, was established with the objective of constructing, owning, and operating a 42-unit apartment community, known as William C. Ellison Residence, in compliance with Section 202 of the National Affordable Housing Act. The corporation has a regulatory agreement with HUD, which oversees the project's operations in conjunction with the Federal Housing Administration section of HUD. Moreover, Lasalle Park Homes II Inc. has entered into a Project Rental Assistance Contract (PRAC Contract) with HUD, which is a rent assistance program for low-income families or individuals, as per the Section 8 program of the National Housing Act. The organization's primary focus is to provide affordable housing solutions for such families or individuals.
What is the revenue of Lasalle Park Homes Ii Inc?
Lasalle Park Homes Ii Inc's revenue in 2023 was $308,432.
Who are the executives of Lasalle Park Homes Ii Inc and what are their salaries?
There 9 volunteers at Lasalle Park Homes Ii Inc.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Lasalle Park Homes Ii Inc?
Lasalle Park Homes Ii Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Lasalle Park Homes Ii Inc
Lasalle Park Homes II, Inc. is a not-for-profit organization with a mission to construct, own, and operate a 42-unit apartment community in South Bend, Indiana, named William C. Ellison Residence. This mission is in line with Section 202 of the National Affordable Housing Act. The corporation has established a regulatory agreement with the HUD's Federal Housing Administration section, which governs the operations of the project. Furthermore, Lasalle Park Homes II, Inc. has entered into a Project Rental Assistance Contract (PRAC Contract) with HUD. This contract is a rent assistance program for low-income families or individuals, as part of the Section 8 program under the National Housing Act.
In essence, Lasalle Park Homes II, Inc. is committed to providing affordable housing for low-income families and individuals. Through its projects, the organization aims to contribute to the housing market while prioritizing the needs of those with limited financial resources. By partnering with HUD, Lasalle Park Homes II, Inc. ensures that its operations are regulated and that its residents have access to the necessary assistance to maintain their housing. The PRAC Contract is a testament to the organization's dedication to making housing affordable and accessible to those who need it most.
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Impact
October, 2024
Lasalle Park Homes II Inc. operates the William C. Ellison Residence in South Bend, Indiana, providing crucial housing solutions for the community. By constructing and managing a 42-unit apartment community, it plays a significant role in addressing the shortage of affordable housing, particularly for low-income families and individuals.
The organization’s collaboration with HUD through a regulatory agreement ensures that the operations are aligned with federal guidelines, promoting stable and safe housing options. Additionally, the Project Rental Assistance Contract (PRAC) offers rental assistance under the Section 8 program, helping to alleviate the financial burdens on residents who may struggle to afford market-rate housing.
The impact of Lasalle Park Homes II Inc. extends beyond mere housing; it fosters a sense of community, stability, and dignity for its residents. By prioritizing affordable living spaces, it contributes positively to the social fabric of South Bend, empowering individuals and families to build better lives.
This information is meant to be a general summary of Lasalle Park Homes Ii 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 2023.
- Program Service Revenue: $143,686
- Gross Receipts: $308,432
Assets and Liabilities:
- Total Assets: $1,830,172
- Total Liabilities: $3,112,707
- Net Assets: -$1,282,535
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$143,686
Organization Details
Founding Year
2006
Principal Officer
Rod Ludwig
NTEE Category
Code: L21 - Housing
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