Overview
What is Perry S Hall Inc?
Perry S Hall Inc is a company based in Alexandria, Virginia, primarily known for its involvement in the real estate sector. Specifically, it provides subordinate financing for two significant housing projects. The first project is Union on Queen, a 193-unit mixed-income rental project situated in Arlington, Virginia. The second project is Quarry Station Apartments, a 79-unit senior affordable housing development located in Manassas, Virginia. Initially, Perry S Hall Inc acquired the Manassas project from Quarry Station Seniors Apartments, LP in 2017, which it subsequently sold to Wesley Quarry, LLC in 2022. Now, Wesley Quarry Station, LLC holds a seller loan from Perry S Hall Inc. Despite its primary focus on real estate, Perry S Hall Inc's role in these projects demonstrates its commitment to providing affordable housing options in Virginia.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 87%, Three-Star out of Four Star rating.
Perry S Hall Inc has achieved an overall score of 87%, indicating a solid performance in terms of accountability and financial management. The organization boasts a majority independent board, which enhances its governance, and has implemented strong policies including conflict of interest and whistleblower protections. The financial oversight is commendable, with a perfect score in audit and oversight, reflecting transparency in operations.
Notably, the charity's liabilities to assets ratio stands at 0.00%, suggesting a strong financial position with no outstanding debts, while maintaining a program expense ratio of 100.00%. This highlights the organization's commitment to allocating all its resources toward its programs and mission, ensuring that donors' contributions are effectively utilized.
However, while the ratings are positive, potential donors may want to consider the overall impact and effectiveness of the programs offered by the organization, as these aspects are not detailed in the scoring metrics. Overall, the charity demonstrates strong governance practices and financial health, making it a trustworthy option for supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Perry S Hall Inc legitimate?
Perry S Hall Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Perry S Hall 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $53,611
For more financial information, click here
What is the mission statement of Perry S Hall Inc?
Perry S Hall Inc's primary role is to provide financing for two residential projects. One is a 193-unit mixed-income rental project, and the other is a 79-unit senior affordable housing project. The company serves as the sole member in the latter project, which is located in Manassas, VA. Previously, on April 20, 2017, Quarry Station Seniors Apartments, LP sold its assets to Perry S. Hall Inc. These assets, consisting of the 79-unit senior affordable housing project, were subsequently sold to Wesley Quarry, LLC, which is solely owned and managed by Perry S. Hall, Inc. On April 19, 2022, these assets were then sold to Wesley Quarry Station, LLC, with a seller loan now held by the company. In essence, Perry S Hall Inc's mission is to facilitate the financing of affordable housing projects, contributing to the provision of housing options for various income groups.
Who is the CEO of Perry S Hall Inc?
Kamilah Mcafee is the President of Perry S Hall Inc.
What is the revenue of Perry S Hall Inc?
Perry S Hall Inc's revenue in 2022 was $5,436,104.
Who are the executives of Perry S Hall Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $245,000
- Other: $23,602
Where can I find the form 990 for Perry S Hall Inc?
Perry S Hall Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Perry S Hall Inc
Perry S. Hall Inc, as a financial entity, is committed to providing subordinate financing for two specific housing projects. One of these projects is Union on Queen, a 193-unit mixed-income rental property situated in Arlington, Virginia. The organization serves as the sole member in another project, Quarry Station Apartments, a 79-unit senior affordable housing complex located in Manassas, Virginia. By providing financing for these projects, Perry S. Hall Inc contributes to the development and sustenance of affordable housing options for various income groups, including seniors.
In 2017, Quarry Station Seniors Apartments, LP sold its assets to Perry S. Hall Inc, which then became the sole owner and manager of the 79-unit senior affordable housing project. Subsequently, these assets were sold to Wesley Quarry, LLC, a company entirely owned and managed by Perry S. Hall Inc. In 2022, these assets were further transferred to Wesley Quarry Station, LLC, with Perry S. Hall Inc retaining a seller loan. Through these transactions, Perry S. Hall Inc has played a significant role in the financing and management of affordable housing projects, contributing to the availability of affordable living spaces for seniors in Virginia.
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Impact
July, 2024
Perry S Hall Inc's impact is centered around providing essential subordinate financing for affordable housing projects in Virginia. This includes supporting the development and maintenance of mixed-income rental projects like Union on Queen in Arlington and senior affordable housing projects like Quarry Station Apartments in Manassas. By facilitating the creation of such housing options, Perry S Hall Inc contributes to addressing the critical need for affordable homes in these communities, ultimately improving the quality of life for residents in need of housing assistance.
This information is meant to be a general summary of Perry S Hall 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: $5,169,055
- Program Service Revenue: $267,049
- Gross Receipts: $8,876,307
Assets and Liabilities:
- Total Assets: $8,812,239
- Total Liabilities: $0
- Net Assets: $8,812,239
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$215,707
TENANT ASSISTANCE PAYMENT
Revenue
$40,194
OTHER INCOME
Revenue
$8,809
LAUNDRY & VENDING
Revenue
$2,339
Organization Details
Founding Year
1985
Phone
(703) 642-3830Principal Officer
Kamilah Mcafee
Main Address
2311 HUNTINGTON AVENUE, ALEXANDRIA, VA, 22303
NTEE Category
Code: L200 - Housing
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