Overview
What is Restoration Housing Inc?
Restoration Housing Inc is a nonprofit organization located in Roanoke, Virginia. Their primary mission is to develop and preserve historical buildings, with the aim of addressing the housing needs of families with limited income and enhancing community development. In 2022, they completed the restoration of their sixth vacant property and moved in two families, contributing to the local community. Throughout the year, they hosted their annual fundraiser and community partnership day, and worked diligently to maintain their properties and serve as reliable landlords. Towards the end of 2022, they secured a new acquisition and applied for grants to begin its restoration, which was finalized in early 2023. The organization, which employs 5 individuals, is dedicated to reducing blight and vacancy in the community while providing affordable housing solutions.
Official website here: www.restorationhousing.org
Is Restoration Housing Inc legitimate?
Restoration Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Restoration Housing 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: $28,875
Professional Fundraising Fees: $0
Other Salaries and Wages: $41,203
For more financial information, click here
Official website here: www.restorationhousing.org
What is the mission statement of Restoration Housing Inc?
Restoration Housing Inc's mission is centered around the creation and assistance in development projects, with a focus on preserving historical architectural resources. The organization aims to address the needs of low-income families and strengthen communities by reducing blight and vacancy. Through their projects, they strive to make a positive impact by providing affordable housing and contributing to the overall betterment of the community. In 2022, Restoration Housing Inc successfully restored two vacant properties and housed two families, and they also held their annual fundraiser and community partnership day. Throughout the year, they continued their commitment to being responsible stewards of their properties and reliable landlords for their affordable housing units. They also prepared for their next acquisition, which they found in the summer of 2022.
Official website here: www.restorationhousing.org
Who is the CEO of Restoration Housing Inc?
Isabel Thornton is the President of Restoration Housing Inc.
Official website here: www.restorationhousing.org
What is the revenue of Restoration Housing Inc?
Restoration Housing Inc's revenue in 2022 was $399,676.
Official website here: www.restorationhousing.org
Who are the executives of Restoration Housing Inc and what are their salaries?
The average compensation at Restoration Housing Inc during 2022 was $14,016. There are 5 employees and 22 volunteers at Restoration Housing Inc.
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- Compensation: $28,875
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Official website here: www.restorationhousing.org
Where can I find the form 990 for Restoration Housing Inc?
Restoration Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.restorationhousing.org
Learn more at the official website: www.restorationhousing.org
Mission Statement of Restoration Housing Inc
Restoration Housing Inc is dedicated to creating and assisting in the development of projects with a focus on historic preservation of architectural resources. The organization's mission is twofold: firstly, it aims to address the needs of limited-income families by providing them with housing. Secondly, it seeks to strengthen the community by reducing blight and vacancy, thereby enhancing the overall living conditions. By restoring vacant properties and transforming them into affordable housing units, Restoration Housing Inc contributes to the revitalization of communities and provides homes for families who may not otherwise be able to afford them. The organization's work not only meets the basic need for shelter but also plays a significant role in community development, making it a valuable asset in the fight against urban decay.
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Impact
October, 2024
Restoration Housing Inc significantly impacts the community by focusing on the historic preservation of architectural resources while addressing housing needs for limited-income families. In 2022, the organization successfully restored its sixth vacant property, transforming it into affordable housing for two families earning between 50-60% of the area median income. This effort not only provides stable housing but also revitalizes neighborhoods by reducing blight and vacancy.
The organization's commitment to community engagement is evident through its annual fundraising events and partnership days, fostering collaboration and awareness around the importance of affordable housing and historic preservation. As good stewards of their properties, Restoration Housing Inc ensures reliable living conditions for tenants while actively pursuing further development projects to enhance community resilience and character. The ongoing preparations for their next property acquisition indicate a dedicated approach to sustainable growth and the enhancement of local heritage.
Overall, Restoration Housing Inc plays a crucial role in improving housing accessibility, preserving cultural assets, and strengthening the Roanoke community.
This information is meant to be a general summary of Restoration Housing 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: $54
- Program Service Revenue: $42,514
- Gross Receipts: $420,242
Assets and Liabilities:
- Total Assets: $1,777,561
- Total Liabilities: $1,120
- Net Assets: $1,776,441
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REAL ESTATE MANAGEMENT
Revenue
$42,514
Organization Details
Founding Year
2014
Phone
(917) 887-9840Principal Officer
Isabel Thornton
Main Address
1116 MAIN STREET STEB, ROANOKE, VA, 24015
Website
www.restorationhousing.orgNTEE Category
Code: L21 - Housing
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