Overview
What is Somerset Court Apartments Inc?
Somerset Court Apartments Inc is a dedicated nonprofit organization situated in Christiansburg, Virginia. Their primary focus is on providing affordable housing, as evidenced by their operation of a 48-unit apartment complex. In addition to this, they are actively engaged in housing development, construction, and management, further cementing their commitment to low-income housing. By offering these services, Somerset Court Apartments Inc contributes positively to the community, providing essential living solutions for those in need.
Is Somerset Court Apartments Inc legitimate?
Somerset Court Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Somerset Court 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: $54,782
For more financial information, click here
What is the mission statement of Somerset Court Apartments Inc?
Somerset Court Apartments Inc is committed to serving the low-income community. Their mission revolves around providing housing solutions, involving themselves in housing development, construction, and management. They offer a 48-unit apartment complex, aiming to make affordable housing options widely available. While the specifics of their support activities or additional initiatives aren't mentioned, it can be inferred that their primary focus lies in providing housing for those with limited financial resources.
Who is the CEO of Somerset Court Apartments Inc?
Jeffrey Reed is the Chief Executive Officer of Somerset Court Apartments Inc. The CEO's salary of Somerset Court Apartments Inc is $0 and their total compensation is $616,715.
What is the revenue of Somerset Court Apartments Inc?
Somerset Court Apartments Inc's revenue in 2022 was $299,603.
Who are the executives of Somerset Court Apartments Inc and what are their salaries?
Here are 12 key members and their salaries (Somerset Court Apartments Inc's CEO's salary is $0 and their total compensation is $616,715):
- Compensation: $0
- Related: $555,107
- Other: $61,608
- Compensation: $0
- Related: $333,052
- Other: $35,717
- Compensation: $0
- Related: $405,876
- Other: $56,798
- Compensation: $0
- Related: $237,553
- Other: $54,080
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Somerset Court Apartments Inc?
Somerset Court Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Somerset Court Apartments Inc
Somerset Court Apartments Inc, a nonprofit organization, is dedicated to providing low-income housing. Their mission is centered around operating a 48-unit apartment complex and engaging in various aspects of housing development, construction, and management. By specializing in low-income housing, Somerset Court Apartments Inc aims to contribute to the community by offering affordable living solutions to individuals in need. Their involvement in housing development and construction demonstrates their commitment to expanding and improving their facilities, ensuring they can continue to meet the housing needs of their residents.
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Impact
October, 2024
Somerset Court Apartments Inc plays a vital role in addressing the need for affordable housing in Christiansburg, VA. By specializing in low-income housing, they operate a 48-unit apartment complex, providing a stable living environment for families and individuals who may otherwise struggle to find affordable accommodations. Their commitment to housing development, construction, and management ensures that communities have access to safe and supportive living spaces.
The impact of Somerset Court Apartments extends beyond merely providing shelter; it contributes to the overall stability and well-being of the local community. By facilitating access to affordable housing, they help alleviate financial burdens for residents, allowing them to allocate resources towards other essential needs such as education, healthcare, and transportation. This fosters a healthier community dynamic, where residents can thrive and engage more fully in their neighborhoods.
Furthermore, their ongoing involvement in housing development signifies a proactive approach to addressing the evolving housing needs in the region. By maintaining and improving the quality of their properties, Somerset Court Apartments ensures that residents experience a sense of pride and belonging in their homes. In summary, Somerset Court Apartments Inc is a cornerstone of affordable housing solutions in Christiansburg, driving positive social and economic impacts for its residents and the broader community.
This information is meant to be a general summary of Somerset Court 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 2022.
- Investment Income: $197
- Program Service Revenue: $299,406
- Gross Receipts: $299,603
Assets and Liabilities:
- Total Assets: $794,315
- Total Liabilities: $1,160,692
- Net Assets: -$366,377
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$299,406
Organization Details
Founding Year
2013
Phone
(540) 382-2002Principal Officer
Jeffrey Reed
Main Address
448 DEPOT STREET, CHRISTIANSBURG, VA, 24073
NTEE Category
Code: L20 - Housing
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