Overview
What is Garden Court Downtown Inc?
Garden Court Downtown Inc is a not-for-profit organization based in Indiana, with a primary objective of constructing, owning, and operating a 30-unit apartment complex named Garden Court Downtown in New Albany, Indiana. Established under Section 202 of the National Housing Act, the organization collaborates with the Federal Housing Administration (FHA) and has signed standard regulatory agreements to oversee its operations. Additionally, Garden Court Downtown Inc has entered into a Housing Assistance Payment (HAP) contract with HUD, which provides a rent assistance program for low-income families or individuals, as stipulated in Section 8 of the National Housing Act. The organization's mission is to provide affordable housing solutions for those in need.
Is Garden Court Downtown Inc legitimate?
Garden Court Downtown Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Garden Court Downtown 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.
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What is the mission statement of Garden Court Downtown Inc?
Garden Court Downtown Inc, being a non-profit organization based in Indiana, was established with the purpose of constructing, owning, and operating a 30-unit apartment complex. This complex, named Garden Court Downtown, is located in New Albany, Indiana. The organization was organized under Section 202 of the National Housing Act, aiming to provide housing solutions for low-income families or individuals.
Garden Court Downtown Inc has entered into regulatory agreements with the Federal Housing Administration (FHA) and signed a Housing Assistance Payment (HAP) contract with the HUD. The HAP contract is a rent assistance program, as per Section 8 of the National Housing Act. This program provides financial aid to low-income families or individuals, allowing them to afford housing.
In essence, the mission of Garden Court Downtown Inc is to contribute to housing affordability and accessibility for low-income families or individuals, ensuring they have a suitable living environment. The organization achieves this by adhering to the regulatory agreements and rent assistance contracts with the FHA and HUD, respectively.
Who is the CEO of Garden Court Downtown Inc?
Jim Causey is the President of Garden Court Downtown Inc.
What is the revenue of Garden Court Downtown Inc?
Garden Court Downtown Inc's revenue in 2022 was $311,997.
Who are the executives of Garden Court Downtown Inc and what are their salaries?
There 15 volunteers at Garden Court Downtown Inc.
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Where can I find the form 990 for Garden Court Downtown Inc?
Garden Court Downtown Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Garden Court Downtown Inc
Garden Court Downtown Inc, a not-for-profit organization, was established with the primary objective of constructing, owning, and operating a 30-unit apartment complex. This complex, known as Garden Court Downtown, is situated in New Albany, Indiana. The organization was established in accordance with Section 202 of the National Housing Act, which was subsequently amended.
The primary mission of Garden Court Downtown Inc is to provide affordable housing solutions for low-income families and individuals. To accomplish this, the organization has entered into a Housing Assistance Payment (HAP) contract with the Federal Housing Administration (FHA), as per Section 8 of the National Housing Act. This contract serves as a rental assistance program, enabling Garden Court Downtown Inc to provide affordable housing to those in need.
In essence, Garden Court Downtown Inc is dedicated to enhancing the living standards of low-income families and individuals by offering them affordable housing options. Through its contract with the FHA, the organization is able to provide the necessary financial assistance, making it possible for these families and individuals to secure suitable housing. This mission aligns with the broader objective of the National Housing Act, which is to promote affordable housing and address housing challenges in the United States.
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Impact
October, 2024
Garden Court Downtown Inc significantly impacts the community by addressing the need for affordable housing in New Albany, Indiana. By constructing and operating a 30-unit apartment complex, it provides essential support to low-income families and individuals who might otherwise struggle to find suitable housing.
Through the execution of standard regulatory agreements with the U.S. Department of Housing and Urban Development (HUD) and the establishment of a Housing Assistance Payment (HAP) contract, Garden Court Downtown ensures that residents receive vital rent assistance. This framework facilitates access to safe and stable living conditions, directly improving the quality of life for its residents.
Moreover, by complying with the federal regulations set forth in Section 202 of the National Housing Act, Garden Court Downtown Inc contributes to the broader goal of promoting affordable housing options, fostering community stability, and encouraging economic development within the region. Overall, its efforts play a crucial role in alleviating housing insecurity and enhancing the wellbeing of low-income residents in the area.
This information is meant to be a general summary of Garden Court Downtown 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: $279
- Program Service Revenue: $102,089
- Gross Receipts: $311,997
Assets and Liabilities:
- Total Assets: $502,176
- Total Liabilities: $867,853
- Net Assets: -$365,677
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$102,089
Organization Details
Founding Year
1987
Phone
(219) 234-9923Principal Officer
Jim Causey
Main Address
PO BOX 540, SOUTH BEND, IN, 46224
NTEE Category
Code: L21Z - Housing
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