Overview
What is Richland East Inc?
Richland East Inc. is a South Carolina-based nonprofit corporation established with the objective of acquiring real estate and constructing group homes for individuals with special needs, adhering to Section 202 of the National Housing Act. The organization manages two such homes, housing a total of 16 units in Richland County, South Carolina. The project primarily serves low- and moderate-income elderly individuals and persons with disabilities, subject to regulatory oversight by the U.S. Department of Housing and Urban Development (HUD) regarding rental charges and operating methods. Remarkably, the project also receives a significant portion of its rental income through Section 8 Housing Assistance Payments agreements with HUD. The nonprofit's secondary program involves providing Section 8 rent subsidies.
Is Richland East Inc legitimate?
Richland East Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Richland East 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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Other Salaries and Wages: $23,678
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What is the mission statement of Richland East Inc?
Richland East Inc, a South Carolina-based not-for-profit organization, was established to acquire real property and construct two group homes for individuals with special needs. The organization's primary goal is to provide housing solutions for the low- and moderate-income elderly and individuals with disabilities, regulated by the U.S. Department of Housing and Urban Development (HUD). The project's rental charges and operating methods are subject to HUD regulations, and it receives a significant portion of its rental income from HUD through Section 8 Housing Assistance Payments Agreements. Additionally, Richland East Inc's non-major program involves providing Section 8 rent subsidies.
What is the revenue of Richland East Inc?
Richland East Inc's revenue in 2024 was $204,252.
Who are the executives of Richland East Inc and what are their salaries?
Here are 15 key members and their salaries:
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Where can I find the form 990 for Richland East Inc?
Richland East Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Richland East Inc
Richland East Inc, a South Carolina-based not-for-profit corporation, was established with the primary objective of acquiring real property and constructing group homes for individuals with special needs. The organization's mission is to provide housing solutions for low- and moderate-income elderly individuals and persons with disabilities, in adherence to regulations set by the U.S. Department of Housing and Urban Development (HUD). The project, which consists of two group homes with 16 units, is subject to Section 8 Housing Assistance Payments agreements with HUD. A significant portion of the project's rental income is derived from HUD, demonstrating its close relationship with the department. In addition to its primary program, Richland East Inc also operates a Section 8 rent subsidy, providing financial assistance to help cover rental expenses for eligible residents.
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Impact
October, 2024
Richland East Inc significantly impacts the community by providing essential housing services to individuals with special needs, primarily in Richland County, South Carolina. By constructing and operating two group homes with 16 units, the organization creates a supportive environment for low- and moderate-income elderly individuals and persons with disabilities.
This initiative not only meets the urgent demand for accessible housing but also enhances the quality of life for its residents by offering them a safe and stable living situation. The organization operates under the guidelines of the HUD’s Section 202 and Section 8 programs, ensuring that rental costs remain affordable while maintaining high standards of living. Moreover, the collaboration with HUD reflects a robust financial foundation that enables the project to provide necessary support and resources to its occupants, thereby fostering community inclusion and empowerment for vulnerable populations.
Overall, Richland East Inc plays a crucial role in addressing housing inequality and promoting social welfare through its dedicated services and commitment to the needs of those it serves.
This information is meant to be a general summary of Richland East 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 2024.
- Investment Income: $35
- Program Service Revenue: $60,062
- Gross Receipts: $204,252
Assets and Liabilities:
- Total Assets: $475,567
- Total Liabilities: $220,232
- Net Assets: $255,335
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT
Revenue
$60,062
Organization Details
Founding Year
1978
Principal Officer
Thoyd B Warren
NTEE Category
Code: Z99Z - Unknown
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