Overview
What is Grace Place Retirement Community Inc?
Grace Place Retirement Community Inc is a nonprofit organization situated in Memphis, Tennessee, with a focus on providing affordable housing for the elderly. They achieve this objective through mortgages financed by the HUD and rental supplements. The organization's primary mission is to offer affordable living options for seniors, ensuring they maintain a comfortable living standard. With a dedicated workforce of just two individuals, Grace Place Retirement Community Inc plays a significant role in supporting the elderly community in Memphis, Tennessee.
Is Grace Place Retirement Community Inc legitimate?
Grace Place Retirement Community Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Grace Place Retirement Community 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $66,846
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What is the mission statement of Grace Place Retirement Community Inc?
Grace Place Retirement Community Inc's mission is centered around providing affordable housing solutions for the elderly with low income. This organization strives to meet this need through the management and development of rental housing, often financed by the HUD and supplemented with rent subsidies. Their primary objective is to ensure that elderly individuals have access to suitable housing, thereby improving their quality of life.
Who is the CEO of Grace Place Retirement Community Inc?
James Crusoe is the President of Grace Place Retirement Community Inc.
What is the revenue of Grace Place Retirement Community Inc?
Grace Place Retirement Community Inc's revenue in 2023 was $359,657.
Who are the executives of Grace Place Retirement Community Inc and what are their salaries?
The average compensation at Grace Place Retirement Community Inc during 2023 was $33,423. There are 2 employees at Grace Place Retirement Community Inc.
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Where can I find the form 990 for Grace Place Retirement Community Inc?
Grace Place Retirement Community Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Grace Place Retirement Community Inc
Grace Place Retirement Community Inc is dedicated to providing affordable housing for the elderly who have limited income. This nonprofit organization manages and develops rental housing for this specific demographic, utilizing mortgages financed by the HUD and supplemental rent funds. By doing so, Grace Place Retirement Community Inc ensures that elderly individuals have a safe and affordable place to call home. The mission of this organization is to alleviate the housing pressures faced by the elderly population, providing them with a sense of stability and security in their later years.
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Impact
October, 2024
Grace Place Retirement Community Inc significantly impacts the lives of low-income elderly individuals by providing affordable housing options that cater specifically to their needs. Through effective management and development of rental properties, the organization ensures that seniors have access to safe and stable living environments. By utilizing HUD-financed mortgages and rent supplements, Grace Place alleviates financial burdens and fosters a sense of community among residents in Memphis, TN. This commitment to affordable housing not only enhances the quality of life for elderly residents but also promotes their dignity and independence, ultimately contributing to their overall well-being.
This information is meant to be a general summary of Grace Place Retirement Community 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 2023.
- Investment Income: $675
- Program Service Revenue: $358,982
- Gross Receipts: $359,657
Assets and Liabilities:
- Total Assets: $2,588,346
- Total Liabilities: $33,669
- Net Assets: $2,554,677
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE PAYMENTS
Revenue
$229,831
TENANT RENTS
Revenue
$129,023
LAUNDRY, VENDING, MISC.
Revenue
$128
Organization Details
Founding Year
2009
Phone
(901) 759-1855Principal Officer
James Crusoe
Main Address
4044 S BORDEAUX CREEK COVE, MEMPHIS, TN, 38125
NTEE Category
Code: L22 - Housing
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