Overview
What is Cherokee Housing Corporation?
Cherokee Housing Corporation, operating under the name Cherokee Manor, is a 50-unit housing project situated in Centre, Alabama, primarily catering to the elderly and disabled population. Originally funded and constructed under Section 202 of the National Housing Act, this project was subsequently restructured under the 223(F) program. The project is regulated by the U.S. Department of Housing and Urban Development (HUD) regarding rental charges and operating methods. Furthermore, Cherokee Manor has a Section 8 Housing Assistance Payments (HAP) agreement with HUD, and a significant portion of its rental income is derived from this source. The corporation's primary mission is to provide affordable housing options for the elderly and disabled community.
Official website here: www.spm.net
Is Cherokee Housing Corporation legitimate?
Cherokee Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cherokee Housing Corporation 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: $87,047
For more financial information, click here
Official website here: www.spm.net
What is the mission statement of Cherokee Housing Corporation?
The Cherokee Housing Corporation, in its mission, focuses on providing affordable housing solutions for the elderly and disabled individuals. This mission is carried out through the operation of a 50-unit apartment complex, known as Cherokee Manor, located in an unspecified location. The project was initially funded under Section 202 of the National Housing Act and was later restructured under the 223(F) program. The project is regulated by the Department of Housing and Urban Development (HUD) in terms of rental charges and operating methods. Moreover, the project also has a Section 8 Housing Assistance Payment (HAP) agreement with HUD, and a significant portion of the rental income comes from HUD. The availability of rent subsidy payments is subject to the sufficiency of appropriate HUD allocations.
Official website here: www.spm.net
What is the revenue of Cherokee Housing Corporation?
Cherokee Housing Corporation's revenue in 2024 was $472,221.
Official website here: www.spm.net
Who are the executives of Cherokee Housing Corporation and what are their salaries?
There 8 volunteers at Cherokee Housing Corporation.
Here are 8 key members and their salaries:
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Official website here: www.spm.net
Where can I find the form 990 for Cherokee Housing Corporation?
Cherokee Housing Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.spm.net
Learn more at the official website: www.spm.net
Mission Statement of Cherokee Housing Corporation
Cherokee Housing Corporation, as a nonprofit organization, is dedicated to providing affordable housing solutions for the elderly and disabled individuals. Their mission is to create and manage housing facilities that cater to this specific demographic, ensuring they can live comfortably and independently. The corporation achieves this by overseeing projects such as Cherokee Manor, a 50-unit apartment complex in Centre, Alabama. This project was initially developed under Section 202 of the National Housing Act and later restructured under the 223(F) program. Cherokee Housing Corporation adheres to regulations set by the United States Department of Housing and Urban Development (HUD), which govern rental charges and operational methods. Additionally, the project receives a substantial portion of its rental income through Section 8 Housing Assistance Payments (HAP) agreements with HUD. The availability of these subsidies is subject to sufficient appropriations determined by HUD, ensuring that the elderly and disabled residents can afford their living expenses.
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Impact
October, 2024
Cherokee Housing Corporation significantly impacts the community by providing affordable housing specifically designed for the elderly and disabled. Operating the Cherokee Manor, a 50-unit apartment complex in Centre, Alabama, it ensures that vulnerable populations have access to safe and secure living environments. The project is financed through federal programs, making it a crucial resource for those who might otherwise struggle to find suitable housing.
By adhering to regulations set forth by the U.S. Department of Housing and Urban Development (HUD), Cherokee Housing Corporation maintains affordability through controlled rental charges, bolstered by housing assistance payments. This structure not only stabilizes rental costs for residents but also fosters a supportive community atmosphere. The organization's commitment to meeting the housing needs of these demographics plays a vital role in enhancing their quality of life, promoting independence, and reducing the risk of homelessness within this segment of the population.
This information is meant to be a general summary of Cherokee Housing Corporation. 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: $533
- Program Service Revenue: $150,713
- Gross Receipts: $472,221
Assets and Liabilities:
- Total Assets: $1,049,364
- Total Liabilities: $1,811,130
- Net Assets: -$761,766
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE - RENT
Revenue
$150,713
Organization Details
Founding Year
1991
Principal Officer
Larry Paul Maddox
Website
www.spm.netNTEE Category
Code: L22 - Housing
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