Overview
What is Stoneboro Development Corporation?
Stoneboro Development Corporation, doing business as Lakeview Manor, is a nonprofit organization based in Stoneboro, Pennsylvania. They manage a 50-unit apartment complex, providing affordable housing for low-income elderly individuals. This housing is subsidized under Section 202 of the National Housing Act, overseen by the U.S. Department of Housing and Urban Development (HUD). HUD's involvement ensures proper regulation of rental charges, operating expenses, and distributions, ensuring the wellbeing and affordability of the housing complex.
Is Stoneboro Development Corporation legitimate?
Stoneboro Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Stoneboro 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
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What is the mission statement of Stoneboro Development Corporation?
Stoneboro Development Corporation, operating under the name Lakeview Manor, is dedicated to providing subsidized housing for low-income elderly individuals. This is done in compliance with Section 202 of the National Housing Act. The corporation's operations are regulated by the U.S. Department of Housing and Urban Development (HUD), which oversees aspects such as rental charges, operational expenses, distributions to officers or directors, and operational methods. The primary focus of Stoneboro Development Corporation is to ensure affordable housing for the elderly population, promoting their well-being and independence.
Who is the CEO of Stoneboro Development Corporation?
Elena Reither is the Director of Stoneboro Development Corporation.
What is the revenue of Stoneboro Development Corporation?
Stoneboro Development Corporation's revenue in 2022 was $369,069.
Who are the executives of Stoneboro Development Corporation and what are their salaries?
There 5 volunteers at Stoneboro Development Corporation.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Stoneboro Development Corporation?
Stoneboro Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Stoneboro Development Corporation
Stoneboro Development Corporation, operating under the name Lakeview Manor, is dedicated to providing subsidized housing for the low-income elderly. This mission is carried out under Section 202 of the National Housing Act, which aims to ensure affordable living spaces for elderly individuals with limited income. The corporation's operations are regulated by the U.S. Department of Housing and Urban Development (HUD), overseeing aspects such as rental charges, operating expenses, distributions to officers or directors, and the overall management of the housing complex. By providing subsidized housing, Stoneboro Development Corporation contributes to the well-being of elderly individuals, offering them a secure and affordable living environment.
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Impact
October, 2024
Stoneboro Development Corporation plays a crucial role in providing safe and affordable housing to low-income elderly individuals in Mercer County, Pennsylvania. By managing a 50-unit apartment complex, known as Lakeview Manor, the corporation addresses the pressing need for accessible housing options for seniors. The operation is governed by the guidelines set forth under Section 202 of the National Housing Act, ensuring that rental charges remain affordable and that the overall living environment is maintained to support the well-being of its residents.
The impact of the Stoneboro Development Corporation extends beyond simply providing shelter; it fosters a sense of community and enhances the quality of life for elderly residents. By offering a stable living situation, the corporation allows seniors to maintain their independence while having access to necessary support services. This model not only contributes to the well-being of individuals but also strengthens the fabric of the local community by encouraging social interaction and engagement among residents. Overall, the corporation is essential in addressing housing insecurity among the elderly population, thereby promoting dignity and enhancing life quality for seniors in the area.
This information is meant to be a general summary of Stoneboro 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: $84
- Program Service Revenue: $165,665
- Gross Receipts: $369,069
Assets and Liabilities:
- Total Assets: $584,859
- Total Liabilities: $1,875,462
- Net Assets: -$1,290,603
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL PAYMENTS
Revenue
$163,887
LAUNDRY AND VENDING
Revenue
$1,749
TENANT CHARGES
Revenue
$29
Organization Details
Founding Year
1982
Phone
(800) 963-1280Principal Officer
Elena Reither
Main Address
25 LAKE STREET, STONEBORO, PA, 16153
NTEE Category
Code: L220 - Housing
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