Overview
What is Marion Senior Living Inc?
Marion Senior Living Inc, a nonprofit organization established under Iowa's not-for-profit regulations, is committed to providing affordable housing for low-income elderly individuals, including those with physical disabilities. Situated in Marion, Iowa, the organization manages Moundview Manor, a 40-unit community, in accordance with Section 202 of the National Housing Act. To ensure affordability, Marion Senior Living Inc has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD), maintaining 39 out of 40 units as affordable housing for eligible residents. Through a Project Rental Assistance Contract (PRAC) with HUD, the organization offers subsidies to eligible residents, enabling them to live in safe, adequate housing facilities that they might otherwise struggle to afford.
Is Marion Senior Living Inc legitimate?
Marion Senior Living Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marion Senior Living 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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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Marion Senior Living Inc?
Marion Senior Living Inc, established under the not-for-profit laws of Iowa, is dedicated to providing housing for low-income seniors, including those with physical disabilities. The organization operates a 40-unit community known as Moundview Manor, situated in an unspecified location, which caters to the housing needs of low-income elderly individuals with disabilities, as per Section 202 of the National Housing Act. Marion Senior Living Inc has entered into a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD), requiring it to maintain 39 of its 40 units as affordable housing for low-income elderly residents. The organization receives rent subsidies through a Project Rental Assistance Contract (PRAC) with HUD. The PRAC provides subsidies to eligible residents, enabling them to afford safe and adequate housing they might not be able to otherwise.
Who is the CEO of Marion Senior Living Inc?
Dick Dearinger is the President of Marion Senior Living Inc.
What is the revenue of Marion Senior Living Inc?
Marion Senior Living Inc's revenue in 2022 was $276,968.
Who are the executives of Marion Senior Living Inc and what are their salaries?
There 8 volunteers at Marion Senior Living Inc.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Marion Senior Living Inc?
Marion Senior Living Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Marion Senior Living Inc
Marion Senior Living Inc, established under the not-for-profit statutes of Iowa, is committed to providing housing for low-income seniors, including those with physical disabilities. The organization's primary activity is the operation of Moundview Manor, a 40-unit community, located in an unspecified location. This community serves as a sanctuary for elderly individuals with limited income, offering them secure and suitable housing facilities they would otherwise be unable to afford.
Marion Senior Living Inc's mission is further supported by a regulatory agreement with the U.S. Department of Housing and Urban Development (HUD). Under this agreement, the organization is required to maintain 39 of its 40 units as affordable housing options for low-income seniors. To facilitate this, Marion Senior Living Inc receives rent subsidies through a Project Rental Assistance Contract (PRAC) with HUD. The PRAC provides financial aid to eligible residents, enabling them to reside in safe and adequate housing facilities. This subsidy is extended to 39 units within the Moundview Manor community.
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Impact
October, 2024
Marion Senior Living Inc plays a significant role in addressing the housing needs of low-income seniors in Marion, Iowa. By owning and operating Moundview Manor, a 40-unit community, the organization creates a safe and supportive living environment specifically designed for elderly individuals, including those with physical disabilities.
The impact is profoundly felt through the provision of affordable housing, as 39 of the 40 units are kept within financial reach for low-income elderly residents through rent subsidies facilitated by the U.S. Department of Housing and Urban Development (HUD). This support not only enables residents to maintain their dignity and independence but also ensures they have access to adequate housing facilities that might otherwise be inaccessible due to financial constraints.
The focus on affordable living significantly contributes to the overall well-being of the community, allowing seniors to live in a stable environment where they can thrive. This initiative not only combats homelessness among elderly populations but also fosters a sense of community, enhancing the quality of life for its residents. Through its structured programs and regulatory agreements, Marion Senior Living Inc addresses crucial social needs, ultimately positively influencing the lives of many vulnerable individuals.
This information is meant to be a general summary of Marion Senior Living 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: $440
- Program Service Revenue: $161,022
- Gross Receipts: $276,968
Assets and Liabilities:
- Total Assets: $2,115,689
- Total Liabilities: $35,056
- Net Assets: $2,080,633
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$161,022
Organization Details
Founding Year
1999
Phone
(402) 333-7373Principal Officer
Dick Dearinger
Main Address
2840 S 123RD COURT, OMAHA, NE, 68144
NTEE Category
Code: L22 - Housing
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