Overview
What is Schad Inc?
Schad Inc, located in Owatonna, Minnesota, is a nonprofit organization primarily focused on providing housing for specific groups of individuals. These groups include the elderly and individuals with disabilities, in accordance with Section 8 of the National Housing Act. The organization's mission is centered around ensuring that these defined classes of people have access to suitable housing. Through its activities, Schad Inc strives to rent a 76-unit apartment building, serving as a residential solution for these individuals in need.
Is Schad Inc legitimate?
Schad Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Schad 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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Professional Fundraising Fees: $0
Other Salaries and Wages: $43,278
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What is the mission statement of Schad Inc?
Schad Inc, as an organization, is committed to providing housing for specific categories of individuals, particularly the elderly and those with disabilities, in accordance with Section 8 of the National Housing Act. Their primary mission is to ensure that these individuals have access to suitable living spaces under this legislative framework. The company's activities primarily revolve around renting a 76-unit apartment building to such eligible individuals, in line with the provisions of the National Housing Act.
What is the revenue of Schad Inc?
Schad Inc's revenue in 2024 was $911,369.
Who are the executives of Schad Inc and what are their salaries?
There 1 volunteer at Schad Inc.
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Where can I find the form 990 for Schad Inc?
Schad Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Schad Inc
Schad Inc, a nonprofit organization, is committed to providing housing for specific groups of individuals, including the elderly and those with disabilities, under Section 8 of the National Housing Act. Their mission is to offer suitable living spaces for these defined classes of people, ensuring they have access to safe and comfortable homes. To execute this mission, Schad Inc manages a 76-unit apartment building, which is rented out to eligible elderly and handicapped individuals, in accordance with the provisions of Section 8 of the National Housing Act. The organization's goal is to make housing more accessible and affordable for these vulnerable groups, providing them with a secure living environment, and contributing to their overall well-being.
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Impact
October, 2024
Schad Inc plays a significant role in addressing housing needs in Owatonna, MN, by providing affordable rental options for vulnerable populations, specifically the elderly and handicapped. By operating a 76-unit apartment building under the guidelines of Section 8 of the National Housing Act, Schad Inc ensures that these defined classes of persons have access to safe and stable housing. This initiative contributes not only to individual well-being but also to the greater community by fostering inclusive living environments and reducing homelessness among those who are often marginalized. The organization's commitment to affordable housing positively impacts residents' quality of life and enhances community cohesion.
This information is meant to be a general summary of Schad 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 2024.
- Investment Income: $32,417
- Program Service Revenue: $878,952
- Gross Receipts: $911,369
Assets and Liabilities:
- Total Assets: $2,370,085
- Total Liabilities: $103,824
- Net Assets: $2,266,261
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
APARTMENT RENTAL
Revenue
$870,640
LAUNDRY
Revenue
$8,312
Organization Details
Founding Year
1970
Principal Officer
Dave Chatelaine
NTEE Category
Code: L21 - Housing
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