Overview
What is Annetta M Lane Housing Inc?
Annetta M Lane Housing Inc is a Virginia-based nonprofit corporation established to own and manage a 40-unit apartment community named Annetta M. Lane in Norfolk, Virginia. This initiative aligns with Section 202 of the National Housing Act and involves agreements with the Federal Housing Administration (FHA) division of the Department of Housing and Urban Development. The organization's primary mission is to provide affordable housing solutions to low-income families and individuals by leasing apartment units in the usual course of business.
Is Annetta M Lane Housing Inc legitimate?
Annetta M Lane Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Annetta M Lane 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:
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What is the mission statement of Annetta M Lane Housing Inc?
Annetta M Lane Housing Inc, as a non-profit organization, was established with the mission to own and manage a 40-unit apartment complex, known as Annetta M. Lane, primarily for low-income families or individuals. This venture is in accordance with Section 202 of the National Housing Act, and the organization has entered into regulatory agreements with the Federal Housing Administration, a division of the Department of Housing and Urban Development. The corporation operates by leasing these apartment units in the regular course of business.
Who is the CEO of Annetta M Lane Housing Inc?
Lodies Gloston is the President of Annetta M Lane Housing Inc.
What is the revenue of Annetta M Lane Housing Inc?
Annetta M Lane Housing Inc's revenue in 2023 was $367,670.
Who are the executives of Annetta M Lane Housing Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Annetta M Lane Housing Inc?
Annetta M Lane Housing Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Annetta M Lane Housing Inc
Annetta M Lane Housing Inc, a Virginia-based non-profit corporation, was established with a mission to own and operate a 40-unit apartment community. This community is known as Annetta M Lane and was established in accordance with Section 202 of the National Housing Act. The corporation entered into standard regulatory agreements with the Federal Housing Administration section of the Department of Housing and Urban Development, governing the operation of the project. The primary function of Annetta M Lane Housing Inc is to lease apartment units to low-income families or individuals, carrying out its operations in the typical course of business. The corporation's mission is to provide affordable housing solutions for individuals in need, contributing to the betterment of their living conditions and fostering a sense of community.
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Impact
October, 2024
Annetta M Lane Housing Inc significantly contributes to the well-being of low-income families and individuals in Norfolk, Virginia, by providing affordable housing through its 40-unit apartment community, Annetta M. Lane. By ensuring access to safe, stable housing, it directly addresses the critical need for affordable living options in the area, which is vital for fostering community stability and enhancing the quality of life for its residents.
The organization operates under the guidelines of the Federal Housing Administration, adhering to regulatory agreements that promote responsible management and maintenance of the property. This commitment not only guarantees proper housing standards but also supports the sustainability of the community by offering a reliable housing solution for those who might otherwise struggle to find a home.
By leasing units specifically to low-income families or individuals, Annetta M Lane Housing Inc plays a crucial role in alleviating housing insecurity and contributing to the local economy. Stable housing supports residents in achieving greater financial independence and empowerment, allowing them to focus on other essential aspects of their lives, such as education, employment, and health. The impact of this organization extends beyond just housing; it enhances community cohesion and provides a foundation for residents to thrive.
This information is meant to be a general summary of Annetta M Lane 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 2023.
- Investment Income: $371
- Program Service Revenue: $122,809
- Gross Receipts: $370,030
Assets and Liabilities:
- Total Assets: $1,031,283
- Total Liabilities: $2,050,098
- Net Assets: -$1,018,815
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$122,809
Organization Details
Founding Year
1994
Phone
(757) 622-3969Principal Officer
Lodies Gloston
Main Address
1620 CHURCH ST, NORFOLK, VA, 23504
NTEE Category
Code: L22 - Housing
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