Overview
What is Wilton Commons Gp Inc?
Wilton Commons Gp Inc is a nonprofit organization with a focus on providing affordable housing for low and moderate-income families. Established as the general partner in a limited partnership in Bridgeport, Connecticut, under Internal Revenue Code Section 42, this entity invests in an affordable residential housing project. The revenue generated from this project is accounted for separately on the limited partnership's books, with Wilton Commons Gp Inc reflecting its share of the net loss. The compliance period for this arrangement ends in 2027, at which point the project ownership structure may be restructured, potentially leading to the dissolution of Wilton Commons Gp Inc. The organization's mission is to contribute to affordable housing solutions through its investment in this limited partnership.
Official website here: www.cthousingpartners.org
Is Wilton Commons Gp Inc legitimate?
Wilton Commons Gp Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wilton Commons Gp 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.
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For more financial information, click here
Official website here: www.cthousingpartners.org
What is the mission statement of Wilton Commons Gp Inc?
Wilton Commons Gp Inc is committed to providing affordable housing to low and moderate income families. They achieve this by investing in a limited partnership that operates affordable residential housing. Their mission is to make affordable housing a reality for many families, ensuring they have a place to call home. The organization operates under Internal Revenue Code Section 42, with the project revenue reflected on the limited partnership's books. The entity serves as the general partner in a limited partnership project in Bridgeport, CT. Once the compliance period under IRC Section 42 ends in 2027, the project ownership will be restructured, with the intent of dissolving this entity at that time.
Official website here: www.cthousingpartners.org
Who is the CEO of Wilton Commons Gp Inc?
Renee Dobos is the Executive Director of Wilton Commons Gp Inc.
Official website here: www.cthousingpartners.org
What is the revenue of Wilton Commons Gp Inc?
Wilton Commons Gp Inc's revenue in 2022 was $0.
Official website here: www.cthousingpartners.org
Who are the executives of Wilton Commons Gp Inc and what are their salaries?
There 14 volunteers at Wilton Commons Gp Inc.
Here are 14 key members and their salaries:
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Official website here: www.cthousingpartners.org
Where can I find the form 990 for Wilton Commons Gp Inc?
Wilton Commons Gp Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cthousingpartners.org
Learn more at the official website: www.cthousingpartners.org
Mission Statement of Wilton Commons Gp Inc
Wilton Commons Group Inc, as a nonprofit organization, is dedicated to providing affordable housing solutions for low and moderate-income families. They achieve this mission by investing in a limited partnership that operates affordable residential housing. By serving as the general partner, Wilton Commons Group Inc plays a significant role in ensuring the project's revenue is managed effectively, with all related financial transactions reflected in the limited partnership's books. Their primary objective is to ensure that a portion of the net loss, specifically their share, is accurately represented. The organization's role as a general partner is instrumental in the project's compliance period, which, in this case, ended in 2027. At this point, the project ownership is expected to undergo a restructuring process involving the developer, the limited partner, and Wilton Commons Group Inc. It is intended that this entity will be dissolved once the restructuring is complete.
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Impact
October, 2024
Wilton Commons Gp Inc significantly impacts the community by providing affordable housing options for low and moderate-income families. By investing in a limited partnership that operates residential housing, the organization plays a crucial role in addressing the housing needs of vulnerable populations in Bridgeport, CT. Its focus on affordable living fosters stability and promotes better quality of life for families who may otherwise struggle to find suitable housing.
The organization's strategic approach involves participating as the general partner in a housing project under Internal Revenue Code Section 42, ensuring compliance with regulatory guidelines while maximizing the benefits for residents. This partnership model allows for better resource allocation and management, directly contributing to the availability of affordable units.
As the compliance period concludes in 2027, the planned restructuring of ownership signifies a forward-looking strategy aimed at sustaining the project's mission. Ultimately, Wilton Commons Gp Inc’s commitment to affordable housing not only alleviates housing insecurity but also strengthens the community by fostering diverse and inclusive neighborhoods.
This information is meant to be a general summary of Wilton Commons Gp 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.
Assets and Liabilities:
- Total Assets: $1,068,939
- Total Liabilities: $0
- Net Assets: $1,068,939
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Organization Details
Founding Year
2011
Phone
(203) 359-6940Principal Officer
Renee Dobos
Main Address
1235 HUNTINGTON TURNPIKE, TRUMBULL, CT, 06611
Website
www.cthousingpartners.orgNTEE Category
Code: L20 - Housing
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