Overview
What is Merit Housing Incorporated?
Merit Housing Incorporated is a nonprofit organization located in Orange, California. Its primary mission is to offer housing and related services to low-income individuals. Currently, Merit Housing manages or participates in five low-income housing rental projects, providing a total of 581 rental units. Established with the goal of expanding housing opportunities for low-income families and seniors, Merit Housing primarily achieves this mission through partnerships. The organization participates in Section 42 Limited Partnerships, which qualify under the Low-Income Housing Tax Credit Program. Merit Housing typically contributes a minimal percentage, often 1%, to these partnerships, and in some cases, does not require significant up-front capital contributions. The organization's endeavors aim to provide long-term affordable housing solutions for low-income households.
Is Merit Housing Incorporated legitimate?
Merit Housing Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. Merit Housing Incorporated 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
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What is the mission statement of Merit Housing Incorporated?
Merit Housing Incorporated, with a primary focus on providing housing services, was established with the mission to expand affordable housing opportunities for low-income families and seniors. The organization achieves this by participating in housing partnerships, often contributing a minor percentage in Section 42 Limited Partnerships under the Low-Income Housing Tax Credit Program. Merit Housing's involvement in these partnerships is an extension of its mission, aiming to provide long-term affordable housing solutions for low-income families and seniors. The organization's activities primarily revolve around fostering housing through partnerships, ensuring the availability of affordable housing options for those in need.
Who is the CEO of Merit Housing Incorporated?
Eunice Bobert is the CEO of Merit Housing Incorporated The CEO's salary of Merit Housing Incorporated is $0 and their total compensation is $0.
What is the revenue of Merit Housing Incorporated?
Merit Housing Incorporated's revenue in 2023 was $1,630,392.
Who are the executives of Merit Housing Incorporated and what are their salaries?
Here are 6 key members and their salaries (Merit Housing Incorporated's CEO's salary is $0 and their total compensation is $0):
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Where can I find the form 990 for Merit Housing Incorporated?
Merit Housing Incorporated's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Merit Housing Incorporated
Merit Housing Incorporated was established with the purpose of expanding housing opportunities for low-income families and seniors. The organization's mission is to provide affordable housing to these communities, either by owning properties directly or participating in housing partnerships. Currently, Merit Housing primarily achieves this mission through partnerships, fostering long-term affordable housing for low-income families and seniors.
To achieve this goal, Merit Housing participates in Section 42 Limited Partnerships, which qualify under the Low-Income Housing Tax Credit Program. In these partnerships, Merit Housing typically holds a minimal ownership percentage, often less than 1%, and may not require or only provide a small up-front capital contribution for several projects. This strategy allows Merit Housing to extend its mission of providing affordable housing on a larger scale, ensuring that low-income families and seniors have access to secure and affordable living spaces.
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Impact
October, 2024
Merit Housing Incorporated significantly impacts the community by enhancing housing opportunities for low-income households, including families and seniors. By owning and operating five low-income housing rental projects, the organization provides 581 rental units in Orange, California. These units serve as essential resources for individuals who may otherwise struggle to find affordable housing.
The organization's mission focuses on expanding access to safe and stable housing through a mix of direct ownership and active participation in housing partnerships. By engaging in Section 42 limited partnerships under the Low-Income Housing Tax Credit Program, Merit Housing successfully facilitates the development of affordable housing without heavy financial burdens on their end, allowing them to contribute meaningfully to long-term housing solutions.
Through these collaborative efforts, Merit Housing fosters a supportive environment for low-income families and seniors, ensuring they have access to housing that meets their needs. The impact of their initiatives reverberates throughout the community, promoting stability, security, and dignity for those who benefit from their services.
This information is meant to be a general summary of Merit Housing Incorporated. 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: $32,757
- Program Service Revenue: $1,597,635
- Gross Receipts: $1,630,392
Assets and Liabilities:
- Total Assets: $2,582,113
- Total Liabilities: $0
- Net Assets: $2,582,113
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTNERSHIP INCOME
Revenue
$1,595,135
MGMT/ADMIN FEES
Revenue
$2,500
Organization Details
Founding Year
1996
Principal Officer
Eunice Bobert
NTEE Category
Code: L20 - Housing
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