Overview
What is Upgrade Development Corporation?
Upgrade Development Corporation, based in Peoria, Illinois, was primarily engaged in the rental of affordable housing for low to moderate-income individuals. Their operations were supported by HUD's Section 8 program, which subsidized the rent for tenants, who paid based on their income. As of January 2020, the corporation sold its rental apartments, resulting in the loss of its physical property. Despite this transition, Upgrade Development Corporation continues to focus on its mission of providing affordable housing opportunities.
Is Upgrade Development Corporation legitimate?
Upgrade Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Upgrade Development Corporation 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 Upgrade Development Corporation?
Upgrade Development Corporation's mission revolves around providing low to moderate income housing. They achieve this by renting out properties, with the rent being subsidized by HUD through the Section 8 program. Under this arrangement, tenants pay rent based on their income. As of January 2020, the corporation sold its rental apartments, and currently, it does not own any physical property. Essentially, Upgrade Development Corporation's mission is to make affordable housing available to income-restricted individuals.
Who is the CEO of Upgrade Development Corporation?
Gene Gathers is the Board Member of Upgrade Development Corporation.
What is the revenue of Upgrade Development Corporation?
Upgrade Development Corporation's revenue in 2022 was $0.
Who are the executives of Upgrade Development Corporation and what are their salaries?
Here are 11 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
- 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
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Upgrade Development Corporation?
Upgrade Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Upgrade Development Corporation
Upgrade Development Corporation, as a nonprofit organization, is dedicated to providing affordable housing for individuals and families with low to moderate incomes. They achieve this mission by renting out properties, with the rent being subsidized by HUD through the Section 8 program. This means that tenants pay rent based on their income levels, making these housing options more accessible and affordable. As of January 2020, Upgrade Development Corporation sold the rental apartments they had been managing, transitioning away from owning physical property. Despite this change, their commitment to providing affordable housing remains a fundamental part of their mission.
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
Upgrade Development Corporation has played a significant role in addressing the housing needs of low to moderate income families in Peoria, IL. By facilitating rental opportunities subsidized by the HUD Section 8 program, the organization helped ensure that tenants could afford housing based on their income levels. This targeted support has improved living conditions and stabilized communities by making housing more accessible to those in need.
Although Upgrade Development no longer owns physical property as of January 2020, its legacy continues through the services and financial mechanisms it implemented. The impact of this initiative is evident in the enhanced quality of life for residents who have benefited from affordable housing options, ultimately contributing to a more diverse and inclusive community.
This information is meant to be a general summary of Upgrade Development Corporation. 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.
Assets and Liabilities:
- Total Assets: $500,656
- Total Liabilities: $2,400
- Net Assets: $498,256
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1968
Phone
(309) 676-4717Principal Officer
Gene Gathers
Main Address
1720 Great Oak Rd, Peoria, IL, 61604
NTEE Category
Code: L20 - Housing
If you are a representative of Upgrade Development Corporation 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.