Overview
What is Dekalb County Residential Dev Corp?
Dekalb County Residential Dev Corp is a nonprofit organization located in DeKalb, Illinois. Its primary mission is to offer decent, safe, and sanitary housing for individuals of low income. They accomplish this by purchasing, constructing, managing, operating, renting, or selling housing units. Specifically, they have three apartment buildings, two with six units and one with 26 units, which are dedicated to serving homeless individuals with disabilities. The organization provides housing solutions by charging rents based on the HUD-approved Housing Voucher Payment Standard, with the tenant portion being a portion of their adjusted gross income. The remaining balance of the rent is covered through a housing assistance subsidy from the federal government's Shelter Plus Care Grant. In summary, Dekalb County Residential Dev Corp is committed to addressing the housing needs of low-income individuals and homeless individuals with disabilities in DeKalb County, Illinois, by providing them with safe, decent, and affordable housing options.
Is Dekalb County Residential Dev Corp legitimate?
Dekalb County Residential Dev Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dekalb County Residential Dev Corp 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
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What is the mission statement of Dekalb County Residential Dev Corp?
The Dekalb County Residential Development Corporation's mission is centered around providing decent, safe, and sanitary housing for individuals of low income. This is achieved through various means, including the purchase, construction, management, operation, rental, or sale of housing units. The organization goes beyond just providing housing, as evidenced by its ownership and operation of three apartment buildings, two of which serve homeless individuals with disabilities, and one serving 26 homeless individuals with mental disabilities. The rents for these apartments are based on the HUD-approved Housing Voucher Payment Standard, with the tenant's portion being a percentage of their adjusted gross income. The remaining balance of the rent is covered by a housing assistance subsidy received through the federal government's Shelter Plus Care Grant.
Who is the CEO of Dekalb County Residential Dev Corp?
Mitchel T Hallgren is the Director/Sec-Treas of Dekalb County Residential Dev Corp.
What is the revenue of Dekalb County Residential Dev Corp?
Dekalb County Residential Dev Corp's revenue in 2022 was $369,883.
Who are the executives of Dekalb County Residential Dev Corp and what are their salaries?
Here are 3 key members and their salaries:
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Where can I find the form 990 for Dekalb County Residential Dev Corp?
Dekalb County Residential Dev Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Dekalb County Residential Dev Corp
Dekalb County Residential Development Corp, as a nonprofit organization, is dedicated to providing decent, safe, and sanitary housing for individuals of low income. Their mission revolves around purchasing, constructing, managing, operating, renting, or selling housing units to cater to this demographic. Specifically, the corporation owns and manages three apartment buildings, with two housing six units each and one accommodating 26 units. These buildings serve as homes for two distinct groups: the homeless with disabilities and the mentally disabled homeless individuals.
The rents for these apartments are governed by the HUD-approved Housing Voucher Payment Standard. Tenants are responsible for paying 30% of their adjusted gross income as their portion of the rent. The remaining balance of the rent is covered through a housing assistance subsidy granted by the federal government under the Shelter Plus Care Grant. By providing affordable and accessible housing, Dekalb County Residential Development Corp plays a crucial role in enhancing the living conditions of those in need, thereby contributing positively to their overall well-being.
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Impact
October, 2024
Dekalb County Residential Development Corporation significantly impacts the community by providing accessible and safe housing for low-income individuals and families in DeKalb County, IL. The organization operates two 6-unit apartment buildings and one 26-unit building, specifically designed to cater to the housing needs of vulnerable populations, including those who are homeless and have disabilities.
By offering 26 apartments for the homeless with disabilities and 12 apartments for those with mental disabilities, the organization directly addresses the critical housing shortage faced by these groups. The total rent is determined based on HUD's approved Housing Voucher Payment Standard, ensuring affordability for tenants, who only pay 30% of their adjusted gross income towards rent. The remaining balance is covered by housing assistance subsidies through the federal government's Shelter Plus Care Grant.
This approach not only provides stable housing but also promotes dignity and security for residents, aiding in their transition towards more independent living. The efforts of Dekalb County Residential Development Corporation foster a stronger, more inclusive community by addressing the urgent housing needs of its most vulnerable citizens.
This information is meant to be a general summary of Dekalb County Residential Dev Corp. 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: $12,717
- Program Service Revenue: $332,131
- Gross Receipts: $369,883
Assets and Liabilities:
- Total Assets: $2,551,437
- Total Liabilities: $53,599
- Net Assets: $2,497,838
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT FROM TENANTS
Revenue
$84,126
GOVERNMENT RENT SUBSIDY
Revenue
$244,126
LAUNDRY INCOME
Revenue
$3,879
Organization Details
Founding Year
1991
Phone
(815) 758-2692Principal Officer
Mitchel T Hallgren
Main Address
310 NORTH 6TH STREET, DEKALB, IL, 60115
NTEE Category
Code: L80Z - Housing
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