Overview
What is Opportunity Apartments Inc?
Opportunity Apartments Inc, a not-for-profit organization based in Kendallville, Indiana, was established with the purpose of constructing, owning, and operating a 15-unit apartment complex named Opportunity Apartments. This was done in accordance with Section 202 of the National Housing Act. The organization has entered into regulatory agreements with the Federal Housing Administration (FHA) and signed a Housing Assistance Payment Contract (HAP) with HUD. This contract is a rent assistance program for eligible low-income families or individuals, as provided by HUD. The primary mission of Opportunity Apartments Inc is to provide affordable housing options in Kendallville.
Is Opportunity Apartments Inc legitimate?
Opportunity Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Opportunity 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
What is the mission statement of Opportunity Apartments Inc?
Opportunity Apartments Inc, a not-for-profit organization, was established with the purpose of constructing, owning, and operating a 15-unit apartment complex. This complex, named Opportunity Apartments, is located in Kendallville, Indiana. The organization was formed under Section 202 of the National Housing Act. Opportunity Apartments Inc has entered into regulatory agreements with the Federal Housing Administration (FHA) and a Housing Assistance Payment (HAP) contract with HUD. The HAP contract is a rent assistance program designed to support low-income families or individuals, as provided by HUD. The organization's primary role is to manage and operate this housing complex, providing suitable living spaces for eligible individuals.
Who is the CEO of Opportunity Apartments Inc?
Steve Howell is the CEO of Opportunity Apartments Inc The CEO's salary of Opportunity Apartments Inc is $0 and their total compensation is $251,835.
What is the revenue of Opportunity Apartments Inc?
Opportunity Apartments Inc's revenue in 2024 was $191,033.
Who are the executives of Opportunity Apartments Inc and what are their salaries?
There 2 volunteers at Opportunity Apartments Inc.
Here are 10 key members and their salaries (Opportunity Apartments Inc's CEO's salary is $0 and their total compensation is $251,835):
- Compensation: $0
- Related: $241,942
- Other: $9,893
- Compensation: $0
- Related: $119,904
- Other: $5,148
- Compensation: $0
- Related: $112,488
- Other: $5,148
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $112,974
- Other: $5,148
- Compensation: $0
- Related: $395,009
- Other: $5,148
- Compensation: $0
- Related: $254,903
- Other: $0
- Compensation: $0
- Related: $108,159
- Other: $5,148
- Compensation: $0
- Related: $321,764
- Other: $12,116
Where can I find the form 990 for Opportunity Apartments Inc?
Opportunity Apartments Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Opportunity Apartments Inc
Opportunity Apartments Inc, a not-for-profit organization, was established with a mission to construct, own, and operate a 15-unit apartment complex. This complex, known as Opportunity Apartments, is situated in Kendallville, Indiana. The organization was established under Section 202 of the National Housing Act. Opportunity Apartments Inc has entered into regulatory agreements with the Federal Housing Administration (FHA) and a Housing Assistance Payment (HAP) contract with HUD. The HAP contract serves as a rent assistance program for eligible low-income families or individuals, as stipulated by HUD. The mission of Opportunity Apartments Inc is to provide affordable housing solutions for those in need, ensuring they have a safe and comfortable living space.
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Impact
October, 2024
Opportunity Apartments Inc significantly impacts the community of Kendallville, Indiana, by providing affordable housing solutions to low-income families and individuals. The organization has established a 15-unit apartment complex that not only addresses the urgent need for accessible housing but also fosters a supportive living environment.
By aligning with HUD guidelines and participating in the Housing Assistance Payment (HAP) program, Opportunity Apartments Inc ensures that eligible residents receive crucial rent assistance, making it possible for them to secure stable living arrangements. This initiative is especially vital in a landscape where affordable housing options are scarce, offering residents a pathway to enhance their quality of life.
Moreover, the operation of Opportunity Apartments Inc contributes to community stability and cohesion. By creating a diverse living environment, it helps to reduce homelessness and housing insecurity in the area. Overall, Opportunity Apartments Inc plays a pivotal role in enhancing the well-being of its residents and strengthening the fabric of the local community.
This information is meant to be a general summary of Opportunity 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 2024.
- Investment Income: $1,624
- Program Service Revenue: $60,702
- Gross Receipts: $191,033
Assets and Liabilities:
- Total Assets: $480,204
- Total Liabilities: $703,256
- Net Assets: -$223,052
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$60,702
Organization Details
Founding Year
1990
Principal Officer
Steve Howell
NTEE Category
Code: L20Z - Housing
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