Overview
What is Heritage Acres I Ltd?
Heritage Acres I Ltd was initially established to provide housing facilities and services for elderly and handicapped individuals, with a 93-unit facility in Cape Charles, Virginia, and a 40-unit facility in Mountain City, Tennessee. Prior to 2020, their primary objective was to cater to the physical, social, and psychological needs of these residents, as well as support other charitable purposes. After selling their housing units in 2019, Heritage Acres I Ltd shifted its focus and redefined its purpose in 2020. Now, it aims to distribute funds to organizations that qualify as exempt under section 501(C)(3) of the Internal Revenue Code, while also continuing to support the elderly and handicapped with housing facilities and services.
Is Heritage Acres I Ltd legitimate?
Heritage Acres I Ltd is a legitimate nonprofit organization registered as a 501(c)(3) entity. Heritage Acres I Ltd 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: $0
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What is the mission statement of Heritage Acres I Ltd?
Prior to 2020, Heritage Acres I Ltd provided housing services to elderly and handicapped individuals, managing facilities in Cape Charles, Virginia, and Mountain City, Tennessee. Direct housing services were discontinued in 2019 following the sale of the housing units. Originally, the organization's mission also included supporting other exempt purposes. In 2020, Heritage Acres I Ltd revised its mission to include making distributions to organizations that qualify as exempt under Section 501(C)(3) of the tax code, as well as providing housing facilities and services to elderly and handicapped individuals.
Who is the CEO of Heritage Acres I Ltd?
Wf Mason Jr is the Ceo of Heritage Acres I Ltd. The CEO's salary of Heritage Acres I Ltd is $0 and their total compensation is $0.
What is the revenue of Heritage Acres I Ltd?
Heritage Acres I Ltd's revenue in 2022 was $18,742.
Who are the executives of Heritage Acres I Ltd and what are their salaries?
Here are 5 key members and their salaries (Heritage Acres I Ltd's CEO's salary is $0 and their total compensation is $0):
- Compensation: $0
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Heritage Acres I Ltd?
Heritage Acres I Ltd's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Heritage Acres I Ltd
Heritage Acres I Ltd, previously, offered housing services to elderly and handicapped individuals. This included a 93-unit facility in Cape Charles, Virginia, and a 40-unit facility in Mountain City, Tennessee. However, in 2019, the organization terminated its direct housing services following the sale of these facilities. In addition to providing housing for the elderly, Heritage Acres I Ltd had originally aimed to support other exempt purposes. In 2020, the organization redefined its mission. It now intends to make distributions to organizations that qualify as exempt under Section 501(C)(3) of the Internal Revenue Code. Moreover, Heritage Acres I Ltd also seeks to provide housing facilities and services for elderly and handicapped individuals.
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Impact
August, 2024
Heritage Acres I Ltd, prior to 2020, had a significant impact on the community by providing housing services to elderly and handicapped individuals through its facilities in Cape Charles, Virginia, and Mountain City, Tennessee. These facilities catered to approximately 200 individuals who required housing assistance due to their age or physical conditions. The organization aimed to meet the residents' physical, social, and psychological needs while also serving other charitable purposes.
However, in 2019, Heritage Acres I Ltd terminated its direct housing services with the sale of the housing units, shifting its focus towards supporting other tax-exempt organizations that qualify as 501(c)(3) entities. The organization restated its mission in 2020 to include making distributions to exempt organizations under Code Section 501(c)(3) and providing housing facilities and services to elderly and handicapped persons.
By providing vital housing services to a vulnerable population and now redirecting its efforts towards supporting other charitable causes, Heritage Acres I Ltd has made a lasting impact on the lives of many individuals in need.
This information is meant to be a general summary of Heritage Acres I Ltd. 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: $15,440
- Gross Receipts: $18,742
Assets and Liabilities:
- Total Assets: $907,868
- Total Liabilities: $28,013
- Net Assets: $879,855
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Organization Details
Founding Year
1978
Phone
(540) 774-4263Principal Officer
Wf Mason Jr
Main Address
POST OFFICE BOX 20662, ROANOKE, VA, 24018
NTEE Category
Code: L21 - Housing
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