Overview
What is Newport Millennium Housing Corporation Iii?
Newport Millennium Housing Corporation III is a nonprofit organization based in Newport, Kentucky. Their primary mission is to provide low-income housing solutions through the acquisition and development of property. They have been involved in the construction of a senior high-rise building and a separate twenty-unit building, utilizing funds from the HOPE VI program. The organization's activities are focused on creating and managing multi-income housing projects in the Newport area.
Is Newport Millennium Housing Corporation Iii legitimate?
Newport Millennium Housing Corporation Iii is a legitimate nonprofit organization registered as a 501(c)(3) entity. Newport Millennium Housing Corporation Iii 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: $28,200
Professional Fundraising Fees: $0
Other Salaries and Wages: $160,000
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What is the mission statement of Newport Millennium Housing Corporation Iii?
Newport Millennium Housing Corporation III is dedicated to creating low-income housing opportunities. They accomplish this by acquiring property for the development and operation of multi-income housing projects. In their mission, they aim to provide affordable living solutions for a diverse range of income groups. Recently, they have collaborated with developers to construct a senior high-rise building and a separate twenty-unit structure, utilizing HOPE VI funds. Their primary goal is to make housing more accessible for those with limited financial resources.
Who is the CEO of Newport Millennium Housing Corporation Iii?
Thomas Guidugli is the Chairperson of Newport Millennium Housing Corporation Iii.
What is the revenue of Newport Millennium Housing Corporation Iii?
Newport Millennium Housing Corporation Iii's revenue in 2022 was -$44,065.
Who are the executives of Newport Millennium Housing Corporation Iii and what are their salaries?
There 5 volunteers at Newport Millennium Housing Corporation Iii.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $21,473
- Related: $121,683
- Other: $18,417
- Compensation: $1,141
- Related: $44,492
- Other: $6,548
- Compensation: $4,156
- Related: $78,963
- Other: $18,036
- Compensation: $1,430
- Related: $27,178
- Other: $19,947
Where can I find the form 990 for Newport Millennium Housing Corporation Iii?
Newport Millennium Housing Corporation Iii's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Newport Millennium Housing Corporation Iii
Newport Millennium Housing Corporation III is committed to creating low-income housing by acquiring property for the development and operation of multi-income housing projects. The organization's mission is to make a significant impact in the housing sector, providing affordable living spaces for individuals who require financial assistance. In pursuit of this goal, the corporation has collaborated with developers to construct a senior high-rise building and a separate twenty-unit building using HOPE VI funds. By undertaking these projects, Newport Millennium Housing Corporation III is actively contributing to the availability of affordable housing options, thereby enhancing the living conditions of its intended residents.
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Impact
October, 2024
Newport Millennium Housing Corporation III significantly contributes to addressing the affordable housing crisis in Newport, Kentucky. By acquiring properties and facilitating the development of multi-income housing projects, it creates essential low-income housing options for the community. The organization’s partnership with developers has led to the establishment of a senior high-rise building and a separate twenty-unit building, both funded through HOPE VI, which enhances the living conditions for vulnerable populations.
This initiative not only provides housing but also promotes mixed-income communities, fostering diversity and inclusivity. As a result, Newport Millennium Housing Corporation III plays a crucial role in revitalizing neighborhoods, improving the overall quality of life for residents, and ensuring that affordable housing remains accessible in the region.
This information is meant to be a general summary of Newport Millennium Housing Corporation Iii. 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: $73,331
- Program Service Revenue: $288,063
- Gross Receipts: $3,014,558
Assets and Liabilities:
- Total Assets: $13,724,891
- Total Liabilities: $368,608
- Net Assets: $13,356,283
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$259,001
ASSET MANAGEMENT FEE INCOME
Revenue
$18,271
RELATED PARTY RENTAL
Revenue
$12,000
RELATED ENTITY LOSS
Revenue
-$1,209
Organization Details
Founding Year
2001
Phone
(859) 441-0466Principal Officer
Thomas Guidugli
Main Address
PO BOX 459, NEWPORT, KY, 410720459
NTEE Category
Code: L21 - Housing
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