Overview
What is The Apartments At Orchard View Inc?
The Apartments at Orchard View Inc. is a North Carolina-based nonprofit corporation, established with the purpose of managing and operating a 48-unit apartment complex named Orchard View Apartments. This community is situated in Franklin, North Carolina, and is specifically designed to cater to low-income families. The project has been granted Low Income Housing Tax Credits, as per Section 42 of the Internal Revenue Code, which was enacted by the Tax Reform Act of 1986. The nonprofit's mission is to provide affordable housing solutions for families in need, contributing positively to the local community.
Is The Apartments At Orchard View Inc legitimate?
The Apartments At Orchard View Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Apartments At Orchard View 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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What is the mission statement of The Apartments At Orchard View Inc?
The mission of The Apartments at Orchard View Inc, as a North Carolina not-for-profit corporation, is to provide and manage a 48-unit apartment project for low-income families. This project, known as Orchard View Apartments, is eligible and qualified for low-income housing tax credits in accordance with Section 42 of the Internal Revenue Code, as enacted by the Tax Reform Act of 1986. The organization's primary goal is to offer affordable housing solutions for families in need, contributing to the betterment of their living conditions. By doing so, The Apartments at Orchard View Inc aims to contribute to the broader societal objective of ensuring housing security for underserved segments of the population.
What is the revenue of The Apartments At Orchard View Inc?
The Apartments At Orchard View Inc's revenue in 2023 was $276,152.
Who are the executives of The Apartments At Orchard View Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for The Apartments At Orchard View Inc?
The Apartments At Orchard View Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of The Apartments At Orchard View Inc
The Apartments at Orchard View Inc, a North Carolina not-for-profit corporation, was established with a mission to own and manage a 48-unit apartment project, known as Orchard View Apartments, specifically for low-income families. This community, situated in Franklin, North Carolina, was eligible and qualified for Low Income Housing Tax Credits, as defined under Section 42 of the Internal Revenue Code, following the enactment of the Tax Reform Act of 1986. In essence, the organization's mission is to provide affordable housing solutions for families in need, thereby contributing to their overall well-being and stability.
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Impact
October, 2024
The Apartments At Orchard View Inc. significantly impacts the community in Franklin, North Carolina, by providing affordable housing to low-income families. By operating a 48-unit apartment complex known as Orchard View Apartments, it ensures that individuals and families who might otherwise struggle to find safe and reliable housing have access to comfortable living spaces.
This initiative addresses the critical need for affordable housing in the area, contributing to community stability and enhancing the quality of life for residents. The apartments are eligible for Low-Income Housing Tax Credits, which allows for the maintenance and sustainability of affordable housing options, promoting long-term accessibility for families in need.
In addition to offering shelter, The Apartments At Orchard View Inc. fosters a sense of community, creating an environment where families can thrive and connect with their neighbors. This positive impact not only benefits the residents but also contributes to the overall health and vitality of the Franklin area.
This information is meant to be a general summary of The Apartments At Orchard View 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: $3,674
- Program Service Revenue: $205,963
- Gross Receipts: $288,222
Assets and Liabilities:
- Total Assets: $1,125,399
- Total Liabilities: $1,500,603
- Net Assets: -$375,204
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$205,963
Organization Details
Founding Year
2010
Principal Officer
Patrick Betancourt
NTEE Category
Code: L21 - Housing
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