Overview
What is Kearney Villa Housing Corporation?
Kearney Villa Housing Corporation is a nonprofit organization situated in Springfield, Missouri, dedicated to providing safe and affordable housing for 31 elderly and low-income families. Established under Section 202 of the National Housing Act, the corporation manages a 31-unit apartment complex, regulated by the US Department of Housing and Urban Development (HUD). The initial construction loan was provided by HUD, and they continue to offer substantial support through Section 8 Housing Assistance Payments, particularly for the elderly. The program allows eligible low-income tenants to pay 30% of their income as rent, with HUD covering the remaining difference. The corporation's mission aligns with HUD's goals of ensuring affordable housing for vulnerable populations.
Is Kearney Villa Housing Corporation legitimate?
Kearney Villa Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kearney Villa Housing Corporation 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: $39,357
For more financial information, click here
What is the mission statement of Kearney Villa Housing Corporation?
Kearney Villa Housing Corporation is dedicated to providing safe and affordable housing for very low-income families. Operating under Section 202 of the National Housing Act, the corporation's activities are governed by the regulations set by the U.S. Department of Housing and Urban Development (HUD). HUD initially funded the construction of the 31-unit apartment complex and continues to provide significant support through monthly rent subsidies, specifically Section 8 - Housing Assistance Payments for the elderly. Eligible low-income tenants pay 30% of their income as rent, with HUD covering the remaining difference between the contract rent and the tenant's payment. The organization's mission is to ensure that these families have access to secure and reasonably priced housing.
Who is the CEO of Kearney Villa Housing Corporation?
Trevor Logan is the Director of Kearney Villa Housing Corporation.
What is the revenue of Kearney Villa Housing Corporation?
Kearney Villa Housing Corporation's revenue in 2022 was $195,151.
Who are the executives of Kearney Villa Housing Corporation and what are their salaries?
The average compensation at Kearney Villa Housing Corporation during 2022 was $19,678. There are 2 employees and 7 volunteers at Kearney Villa Housing Corporation.
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Where can I find the form 990 for Kearney Villa Housing Corporation?
Kearney Villa Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Kearney Villa Housing Corporation
Kearney Villa Housing Corporation is committed to providing safe and affordable housing for very low-income families. Operating under Section 202 of the National Housing Act and regulated by the rules and regulations of the US Department of Housing and Urban Development (HUD), the corporation owns and manages a 31-unit apartment complex. HUD provided the initial loan to construct the facility, and continues to provide significant support through monthly rent subsidies under Section 8 - Housing Assistance Payments for the elderly. This rental assistance program allows eligible low-income tenants to pay only 30% of their income as rent, with HUD covering the remaining cost between the contract rent and the rent paid by the tenant. By offering this affordable housing solution, Kearney Villa Housing Corporation aims to support those in need and contribute to a stronger, more inclusive community.
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Impact
October, 2024
Kearney Villa Housing Corporation significantly impacts the Springfield, MO community by providing safe and affordable housing for very low-income families, especially the elderly. By operating a 31-unit apartment complex, it serves as a vital resource for those who may struggle to find stable housing due to financial constraints.
The organization functions under Section 202 of the National Housing Act, ensuring compliance with the regulations set forth by the U.S. Department of Housing and Urban Development (HUD). This not only facilitates the construction of quality housing but also secures ongoing support through the Section 8 Housing Assistance Payments program, which helps cover rent costs for eligible tenants. Consequently, residents are only required to pay 30% of their income towards rent, making housing much more attainable for those in need.
The impact of Kearney Villa extends beyond just providing shelter; it fosters a sense of community among its residents. By creating a stable environment for low-income families, Kearney Villa plays a crucial role in supporting individual well-being and enhancing the overall quality of life in the area. The continuous support from HUD further reinforces the sustainability of these housing solutions, ensuring that they remain a reliable option for vulnerable populations.
This information is meant to be a general summary of Kearney Villa Housing 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: $193
- Program Service Revenue: $194,958
- Gross Receipts: $195,151
Assets and Liabilities:
- Total Assets: $463,412
- Total Liabilities: $871,235
- Net Assets: -$407,823
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME HOUSING
Revenue
$194,958
Organization Details
Founding Year
1990
Phone
(314) 727-6664Principal Officer
Trevor Logan
Main Address
2320 N FREMONT AVE STE D1, SPRINGFIELD, MO, 65803
NTEE Category
Code: L22 - Housing
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