Overview
What is Wellsburg Unity Apartments Inc?
Wellsburg Unity Apartments Inc is a nonprofit organization based in Morgantown, West Virginia. Following the sale of its 35-unit housing complex in January 2009, the corporation now holds a residual receipts note. Any proceeds from this note are subject to restrictions, specifically for low-income housing, requiring prior approval from the U.S. Department of Housing and Urban Development (HUD). Wellsburg Unity Apartments Inc supports thirteen other similarly controlled entities, all operating HUD-approved housing complexes. These entities provide financial assistance for low-income elderly and disabled individuals. In essence, Wellsburg Unity Apartments Inc aids in funding subsidized housing for those with limited resources.
Official website here: www.hrdewv.org
Is Wellsburg Unity Apartments Inc legitimate?
Wellsburg Unity Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wellsburg Unity Apartments 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: $0
For more financial information, click here
Official website here: www.hrdewv.org
What is the mission statement of Wellsburg Unity Apartments Inc?
Wellsburg Unity Apartments Inc's mission is centered around providing financial assistance. This organization specifically aids commonly controlled subsidized housing entities, focusing on low-income elderly and disabled individuals. Their objective is to contribute to the betterment of these communities by offering financial support. After selling their own 35-unit housing complex in January 2009, they now hold a residual receipts note. The funds from this note are subject to restrictions, with the approval of the U.S. Department of Housing and Urban Development (HUD), being required for use in low-income housing projects. Additionally, Wellsburg Unity Apartments Inc supports thirteen (13) other similarly controlled entities that operate HUD-approved housing complexes.
Official website here: www.hrdewv.org
Who is the CEO of Wellsburg Unity Apartments Inc?
Joshua D Sword is the President of Wellsburg Unity Apartments Inc.
Official website here: www.hrdewv.org
What is the revenue of Wellsburg Unity Apartments Inc?
Wellsburg Unity Apartments Inc's revenue in 2022 was $526.
Official website here: www.hrdewv.org
Who are the executives of Wellsburg Unity Apartments Inc and what are their salaries?
There 17 volunteers at Wellsburg Unity Apartments Inc.
Here are 20 key members and their salaries:
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- Related: $91,060
- Other: $50,748
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- Other: $35,323
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- Related: $73,385
- Other: $39,088
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Official website here: www.hrdewv.org
Where can I find the form 990 for Wellsburg Unity Apartments Inc?
Wellsburg Unity Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hrdewv.org
Learn more at the official website: www.hrdewv.org
Mission Statement of Wellsburg Unity Apartments Inc
Wellsburg Unity Apartments Inc is dedicated to providing financial aid to subsidized housing entities that cater to low-income elderly and disabled individuals. This mission is a crucial part of their operations, aiming to ensure affordable housing for those who might otherwise struggle with housing costs. Upon selling its own 35-unit housing complex in January 2009, the organization retained a Residual Receipts Note, the proceeds from which are subject to specific usage restrictions. These restrictions allow for the allocation of funds towards low-income housing, with prior approval from the U.S. Department of Housing and Urban Development (HUD). Moreover, Wellsburg Unity Apartments Inc supports thirteen (13) other commonly controlled entities that operate HUD-approved housing complexes, further extending its reach in providing affordable housing solutions for low-income elderly and disabled individuals.
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Impact
October, 2024
Wellsburg Unity Apartments Inc plays a crucial role in enhancing the living conditions of low-income elderly and disabled individuals in Morgantown, WV. By providing financial assistance to subsidized housing entities, the organization ensures that vulnerable populations can access safe and affordable housing options.
Since the sale of its 35-unit housing complex in 2009, Wellsburg Unity Apartments has maintained its commitment to housing assistance through a residual receipts note. The proceeds from this note are specifically allocated for low-income housing initiatives with the oversight of the U.S. Department of Housing and Urban Development (HUD). This structure enables the organization to support thirteen other commonly controlled HUD-approved housing complexes, thereby amplifying its impact in the community.
Through these efforts, Wellsburg Unity Apartments Inc not only sustains affordable housing solutions but also strengthens the overall housing infrastructure for those who are often underserved. The organization’s focus on financially supporting these housing entities is integral to providing quality living arrangements for the elderly and disabled, fostering stability and better quality of life for its residents.
This information is meant to be a general summary of Wellsburg Unity Apartments 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 2022.
- Investment Income: $26
- Gross Receipts: $526
Assets and Liabilities:
- Total Assets: $914,447
- Total Liabilities: $18,547
- Net Assets: $895,900
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Organization Details
Founding Year
1986
Phone
(304) 296-8223Principal Officer
Joshua D Sword
Main Address
1369 STEWARTSTOWN ROAD, MORGANTOWN, WV, 26505
Website
www.hrdewv.orgNTEE Category
Code: L22 - Housing
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