Overview
What is Parkway Elderly Housing Development Fund Co Inc?
Parkway Elderly Housing Development Fund Co Inc is a nonprofit organization situated in Corning, New York, primarily committed to providing affordable housing for elderly and qualified disabled individuals. The organization operates DaySpring I, a 110-unit apartment complex, which is federally subsidized through the Insurance of its mortgage loan under Section 231 of the Federal Housing Act and an interest subsidy from HUD. Additionally, DaySpring I is subject to Section 8 Housing Assistance Payment Agreements, and a significant portion of its rental revenue is received from HUD. The mission of Parkway Elderly Housing Development Fund Co Inc is to ensure decent and sanitary housing for its residents, contributing to their overall well-being and quality of life.
Is Parkway Elderly Housing Development Fund Co Inc legitimate?
Parkway Elderly Housing Development Fund Co Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Parkway Elderly Housing Development Fund Co 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.
Here are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $236,047
For more financial information, click here
Mission Statement of Parkway Elderly Housing Development Fund Co Inc
Parkway Elderly Housing Development Fund Co Inc, as its name suggests, is dedicated to providing affordable housing for the elderly and qualified handicapped individuals. The organization's mission is to create an environment where these individuals can reside in decent and sanitary conditions. To achieve this, they established DaySpring I, a 110-unit apartment complex, in Corning, New York. This housing complex is supported by federal subsidies, including a mortgage loan insurance under Section 231 of the Federal Housing Act and an interest subsidy from HUD. Moreover, DaySpring I is subject to Section 8 Housing Assistance Payment agreements, and a significant portion of its rental revenue is received from HUD. In essence, Parkway Elderly Housing Development Fund Co Inc's mission is to ensure that the elderly and qualified handicapped individuals have access to affordable housing, providing them with a secure and comfortable living environment.
Impact
This information is meant to be a general summary of Parkway Elderly Housing Development Fund Co Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Parkway Elderly Housing Development Fund Co Inc's impact is significant in providing affordable housing to the elderly and qualified handicapped individuals. Their Dayspring I apartment complex in Corning, New York, offers 110 units specifically designed to offer decent and sanitary housing to this demographic. By being federally subsidized and receiving assistance from HUD, Parkway Elderly Housing Development Fund Co Inc ensures that residents have access to affordable housing options. Through their dedicated mission, they are making a positive difference in the community by addressing the housing needs of vulnerable populations.
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:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL INCOME
Revenue
$855,643
TENANT ASSISTANCE
Revenue
$794,125
MISCELLANEOUS INCOME
Revenue
$14,129
COMMERCIAL RENTS
Revenue
$4,950
Organization Details
Founding Year
1973
Phone
(607) 937-5361
Principal Officer
Frederick Maloney
Main Address
101 COLUMBIA STREET, CORNING, NY, 14830
NTEE Category
Code: L210 - Housing
If you are a representative of Parkway Elderly Housing Development Fund Co Inc 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.