Overview
What is Marion Project Iii Inc?
Marion Project III Inc. is a not-for-profit organization established in Iowa, with a focus on constructing, owning, and managing a 40-unit housing community named Trinity Pointe. Located in Marion, Iowa, this community is specifically designed to provide affordable housing for low-income elderly individuals, adhering to Section 202 of the National Housing Act. The organization has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD), imposing restrictions on property transfers, management rights, and debt assumption. HUD also requires the community to maintain 39 of its 40 units as affordable housing for low-income elderly residents and conduct annual eligibility recertification.
Is Marion Project Iii Inc legitimate?
Marion Project Iii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marion Project Iii 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 Marion Project Iii Inc?
Marion Project III Inc, a non-profit corporation, was established with the objective of constructing, owning, and operating a 40-unit housing community named Trinity Pointe. This community, located in an unspecified location, is designed to provide affordable housing for low-income elderly individuals, in accordance with Section 202 of the National Housing Act. The corporation entered into a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD), which includes restrictions on transferring property, managing rights, and assuming additional indebtedness. As per this agreement, the community must maintain 39 out of its 40 units as affordable housing for low-income elderly individuals. The community is obligated to recertify resident eligibility on an annual basis. In essence, Marion Project III Inc's mission revolves around providing affordable housing for elderly individuals, adhering to specific regulations, and ensuring continued eligibility for its residents.
Who is the CEO of Marion Project Iii Inc?
Dick Dearinger is the President of Marion Project Iii Inc.
What is the revenue of Marion Project Iii Inc?
Marion Project Iii Inc's revenue in 2022 was $246,876.
Who are the executives of Marion Project Iii Inc and what are their salaries?
There 9 volunteers at Marion Project Iii Inc.
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Where can I find the form 990 for Marion Project Iii Inc?
Marion Project Iii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Marion Project Iii Inc
Marion Project III, Inc., a not-for-profit organization, was established with a mission to construct, own, and operate a 40-unit community known as Trinity Pointe. Located in Marion, Iowa, this community serves as affordable housing for low-income elderly individuals, in accordance with Section 202 of the National Housing Act. The organization entered into a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD), which includes restrictions on transferring properties, managing rights, receiving rents, and assuming additional debt. As per the agreement, the community is obligated to maintain 39 out of its 40 units as affordable housing for low-income elderly residents. Marion Project III, Inc., is further required to recertify resident eligibility annually. The organization's mission is dedicated to providing affordable housing solutions for the elderly population, ensuring their continued livelihood and maintaining their eligibility criteria on a yearly basis.
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Impact
October, 2024
Marion Project III Inc. plays a crucial role in addressing the housing needs of low-income elderly individuals in Marion, Iowa, through the operation of Trinity Pointe, a 40-unit community. By providing affordable housing specifically designated for this demographic, the organization helps to ensure that elderly residents have access to safe and stable living environments. This initiative fosters community well-being, allowing senior citizens to maintain their independence while also benefiting from the support that comes with living among peers.
The project operates under a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD), ensuring strict adherence to affordability requirements. This mandate requires that 39 out of the 40 units remain affordable for low-income elderly residents, thereby reinforcing the community's commitment to serving those in need.
Furthermore, by regularly recertifying resident eligibility, Marion Project III Inc. ensures that resources are allocated effectively to those who qualify, enhancing the sustainability of the community. In summary, the impact of Marion Project III Inc. is evident in its significant contribution to affordable housing and the improvement of living conditions for low-income elderly residents in the area.
This information is meant to be a general summary of Marion Project Iii 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: $608
- Program Service Revenue: $171,772
- Gross Receipts: $246,876
Assets and Liabilities:
- Total Assets: $2,994,352
- Total Liabilities: $101,398
- Net Assets: $2,892,954
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$171,772
Organization Details
Founding Year
2006
Phone
(402) 979-8149Principal Officer
Dick Dearinger
Main Address
2840 S 123RD COURT, OMAHA, NE, 68144
NTEE Category
Code: L22 - Housing
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