Overview
What is Eldon Development Corporation?
Eldon Development Corporation, situated in Eldon, Iowa, is a nonprofit organization primarily dedicated to offering affordable housing solutions. They cater to vulnerable populations, including the elderly, disabled individuals, and families who fall under an income-based threshold of 30%. The remainder of the rent is covered through a USDA/Rural Development subsidy, enabling them to provide secure and budget-friendly housing for 33 families. Their core program involves managing low-income rental properties, with a location in Algona, Iowa.
Is Eldon Development Corporation legitimate?
Eldon Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Eldon Development Corporation submitted a form 990EZ, 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.
What is the mission statement of Eldon Development Corporation?
Eldon Development Corporation, through its subsidiary Apartment Management Services Inc., is committed to providing affordable housing solutions. Specifically, they cater to the needs of elderly individuals, disabled persons, and families with income-based rates, setting the rate at 30%. The remaining balance of the rent is covered by a USDA/Rural Development subsidy. As a result of their services, they have successfully provided safe and affordable housing for 33 families. Their primary activity revolves around the management of low-income rental housing.
Who is the CEO of Eldon Development Corporation?
Patty Durflinger is the President of Eldon Development Corporation.
What is the revenue of Eldon Development Corporation?
Eldon Development Corporation's revenue in 2022 was $186,491.
Who are the executives of Eldon Development Corporation and what are their salaries?
Here are 3 key members and their salaries:
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Where can I find the form 990EZ for Eldon Development Corporation?
Eldon Development Corporation's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of Eldon Development Corporation
Eldon Development Corporation, a nonprofit organization, is dedicated to providing affordable housing solutions for individuals and families in need. Specifically, they cater to the elderly, the disabled, and families with income-based rates, setting the threshold at 30%. The remaining rent costs are covered through a USDA/Rural Development subsidy. As a result of their efforts, Eldon Development Corporation has successfully housed 33 families in a secure and economical environment. Their primary program focuses on low-income rental housing, thereby ensuring that those in need have access to safe and affordable living spaces.
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Impact
October, 2024
Eldon Development Corporation significantly impacts the community by providing safe and affordable housing options for elderly individuals, disabled persons, and low-income families in Eldon, Iowa. By offering rental rates based on 30% of residents' income, the organization ensures that housing is accessible to those who need it most. The USDA/Rural Development subsidy further supports this mission by covering the remainder of the rent, enabling 33 families to secure stable living conditions. This initiative not only helps alleviate the burden of housing costs but also fosters a sense of community and stability among residents, enhancing their overall quality of life.
This information is meant to be a general summary of Eldon Development Corporation. 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: $101
- Program Service Revenue: $174,396
- Gross Receipts: $186,491
Assets and Liabilities:
- Total Assets: $318,834
- Total Liabilities: $243,538
- Net Assets: $75,296
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Organization Details
Phone
(515) 295-2927Principal Officer
Patty Durflinger
Main Address
PO Box 476, Algona, IA, 50511
NTEE Category
Code: L22 - Housing
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