Overview
What is Moulton Development Corporation?
Moulton Development Corporation is a nonprofit organization situated in Moulton, Iowa. Their primary mission involves offering affordable housing solutions to the elderly, disabled, and families within the community. They achieve this by basing the rent on a maximum of 30% of the applicant's annual income, with the remaining balance subsidized through USDA/Rural Development grants. This innovative approach has allowed Moulton Development Corporation to provide 28 families with secure and budget-friendly living spaces, ensuring their residents have access to safe and affordable housing options.
Is Moulton Development Corporation legitimate?
Moulton Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Moulton Development Corporation submitted a form 990EZ, 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.
What is the mission statement of Moulton Development Corporation?
The Moulton Development Corporation's mission revolves around providing affordable housing solutions. Specifically, it targets the elderly, disabled, and families, setting the rent at 30% of the applicant's annual income. The organization covers the remaining costs through USDA/Rural Development subsidies, thereby ensuring that 28 families in this community can enjoy safe and reasonably priced living spaces.
Who is the CEO of Moulton Development Corporation?
Randy Welch is the President of Moulton Development Corporation.
What is the revenue of Moulton Development Corporation?
Moulton Development Corporation's revenue in 2022 was $182,225.
Who are the executives of Moulton Development Corporation and what are their salaries?
Here are 3 key members and their salaries:
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Where can I find the form 990EZ for Moulton Development Corporation?
Moulton Development Corporation's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of Moulton Development Corporation
Moulton Development Corporation, a nonprofit organization, is dedicated to providing affordable housing solutions to the elderly, disabled, and families. By adhering to a rent structure where the tenant pays 30% of their annual income, with the remaining balance subsidized by USDA/Rural Development, the corporation ensures that safe and affordable living options are accessible to 28 families. This innovative approach by Moulton Development Corporation has been instrumental in addressing the housing needs of those in need, thereby enhancing their overall quality of life.
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Impact
October, 2024
Moulton Development Corporation makes a significant impact by providing low-rent housing to the elderly, disabled, and families in Moulton, Iowa. By offering housing options where rent is calculated at 30% of an applicant's yearly income, the organization ensures that affordability is maintained while the remainder of the rent is subsidized by USDA/Rural Development. This model has allowed Moulton Development Corporation to create safe and affordable living environments for 28 families, thus enhancing their quality of life and contributing to community stability. The focus on accessible housing plays a crucial role in supporting vulnerable populations, ultimately fostering a more inclusive community in Moulton.
This information is meant to be a general summary of Moulton 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.
- Investment Income: $98
- Program Service Revenue: $162,958
- Gross Receipts: $182,225
Assets and Liabilities:
- Total Assets: $199,974
- Total Liabilities: $45,656
- Net Assets: $154,318
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Organization Details
Phone
(515) 295-2927Principal Officer
Randy Welch
Main Address
PO Box 476, Algona, IA, 50511
NTEE Category
Code: L22 - Housing
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