Overview
What is Union Senior Residents Housing Corp Corporation?
Union Senior Residents Housing Corp Corporation is a nonprofit organization dedicated to supporting senior citizen housing projects. They offer vital assistance by sponsoring and backing these initiatives. To further aid low-income elderly individuals, they provide rent subsidies to residents residing in these senior housing units. Through the HUD Section 236 program, the corporation secures a low-interest mortgage (1%) to construct 156 single-resident apartments, ensuring affordable living for eligible candidates selected from a waiting list.
Is Union Senior Residents Housing Corp Corporation legitimate?
Union Senior Residents Housing Corp Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Union Senior Residents Housing Corp 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:
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What is the mission statement of Union Senior Residents Housing Corp Corporation?
Union Senior Residents Housing Corp Corporation is committed to sponsoring and providing support for senior citizen housing projects. Their mission extends to offering rent subsidies to the residents of these projects. Utilizing the HUD Section 236 program, the corporation secures a low-interest mortgage of 1% to construct 156 single-resident apartments for elderly and low-income individuals. These individuals are selected from a waiting list and must meet specific eligibility requirements. The corporation's main objective is to provide affordable and suitable housing for senior citizens, ensuring they can live comfortably with financial assistance.
Who is the CEO of Union Senior Residents Housing Corp Corporation?
James Masterson is the President of Union Senior Residents Housing Corp Corporation.
What is the revenue of Union Senior Residents Housing Corp Corporation?
Union Senior Residents Housing Corp Corporation's revenue in 2022 was $106,760.
Who are the executives of Union Senior Residents Housing Corp Corporation and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Union Senior Residents Housing Corp Corporation?
Union Senior Residents Housing Corp Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Union Senior Residents Housing Corp Corporation
Union Senior Residents Housing Corp Corporation is dedicated to supporting senior citizen housing projects. This nonprofit organization goes beyond just providing housing, offering rent subsidies to its residents as well. Through the HUD Section 236 program, Union Senior Residents Housing Corp Corporation secures a low-interest mortgage, enabling it to offer 156 single-unit apartments to eligible elderly and low-income individuals. These individuals are selected from a waiting list, ensuring that the most in need have access to affordable housing. The corporation plays a vital role in addressing the housing needs of senior citizens, making it possible for them to live independently with financial assistance.
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Impact
October, 2024
Union Senior Residents Housing Corp Corporation plays a vital role in addressing the housing needs of elderly and low-income individuals in Union, NJ. By sponsoring and supporting senior citizen housing projects, the organization significantly contributes to the availability of affordable living options for vulnerable populations.
Through its involvement in the HUD Section 236 program, Union Senior Residents Housing Corp is able to offer 156 single resident apartments at a low-interest mortgage rate of 1%. This financial structure not only makes it feasible to maintain the housing but also ensures that rent remains affordable for the residents. Additionally, the corporation provides rent subsidies, further alleviating the financial burden on seniors.
The selection process for residents is structured to ensure that those in greatest need are prioritized, as eligibility requirements help target individuals who may be facing financial hardships. By creating a supportive and affordable living environment, Union Senior Residents Housing Corp enhances the quality of life for its residents, fostering a sense of community and security among elderly individuals in the area.
This information is meant to be a general summary of Union Senior Residents Housing Corp 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.
- Investment Income: $103,124
- Program Service Revenue: $3,636
- Gross Receipts: $106,760
Assets and Liabilities:
- Total Assets: $4,327,223
- Total Liabilities: $229,028
- Net Assets: $4,098,195
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LEASE FEE INCOME
Revenue
$3,636
Organization Details
Founding Year
1978
Phone
(908) 964-9342Principal Officer
James Masterson
Main Address
35 SUMNER AVENUE PO BOX 448, UNION, NJ, 07083
NTEE Category
Code: L22Z - Housing
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