Overview
What is Fair Bluff Housing Inc?
Fair Bluff Housing Inc is a nonprofit organization established to manage a 40-unit apartment complex named Cypress Village Apartments, located in Fair Bluff, North Carolina. The organization was founded under Section 202 of the National Housing Act and adhered to standard regulatory agreements with the FHA section of HUD, operating under a Housing Assistance Payment (HAP) contract through the Section 8 program of the National Housing Act. The apartment complex was sold during its fiscal year ending in June 2016, and the contract with HUD was subsequently closed. Currently, the organization is holding the net proceeds from the sale, deliberating on the most suitable way to utilize these funds to accomplish its mission. The specifics of the mission have not been specified in the provided information.
Is Fair Bluff Housing Inc legitimate?
Fair Bluff Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fair Bluff 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Fair Bluff Housing Inc?
Fair Bluff Housing Inc was established with the mission to own and manage a 40-unit apartment community, known as Cypress Village Apartments. This was done in compliance with Section 202 of the National Housing Act. The organization entered into regulatory agreements with the FHA section of HUD and secured a Housing Assistance Payment Contract (HAP) under the Section 8 program of the National Housing Act. After selling the apartment complex during the fiscal year ending June 30, 2026, and closing the contract with HUD, Fair Bluff Housing Inc is currently holding the net proceeds from the sale. The corporation is currently determining the best use of these funds to fulfill its mission.
Who is the CEO of Fair Bluff Housing Inc?
Carl W Meares Jr is the President of Fair Bluff Housing Inc.
What is the revenue of Fair Bluff Housing Inc?
Fair Bluff Housing Inc's revenue in 2022 was $86.
Who are the executives of Fair Bluff Housing Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Fair Bluff Housing Inc?
Fair Bluff Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Fair Bluff Housing Inc
Fair Bluff Housing Inc was established with a mission to own and operate a 40-unit apartment community, known as Cypress Village Apartments. This mission was carried out under Section 202 of the National Housing Act, and the organization entered into standard regulatory agreements with the FHA section of HUD. A Housing Assistance Payment Contract (HAP) provided through the Section 8 program of the National Housing Act governed the operation of the community.
Initially, Fair Bluff Housing Inc successfully managed Cypress Village Apartments. However, during the fiscal year ending on June 30, 2026, the apartment complex was sold. Following the sale, the organization closed its contract with HUD. Currently, Fair Bluff Housing Inc holds the net proceeds from the sale. The corporation is now in the process of determining the best use of these funds to continue fulfilling its mission.
In summary, Fair Bluff Housing Inc's primary purpose was to provide affordable housing through the operation of Cypress Village Apartments. The organization did so in compliance with the National Housing Act and in partnership with HUD. After selling the apartment complex, the corporation is now deciding how to allocate the proceeds in order to continue serving its mission.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Fair Bluff Housing Inc. has played a crucial role in providing affordable housing through the operation of the Cypress Village Apartments, a 40-unit apartment community in Fair Bluff, NC. This initiative not only addressed the need for housing in the area but also adhered to regulatory requirements under the National Housing Act, specifically Section 202, which aims to assist low-income individuals.
By entering into agreements with the Federal Housing Administration (FHA) and participating in the Section 8 program, Fair Bluff Housing served as a vital resource for individuals and families seeking affordable living options. The community fostered a stable environment for residents, contributing to improved quality of life and social stability in Fair Bluff.
Although the apartment complex was sold in the fiscal year ending June 30, 2016, the organization is now in a position to utilize the net proceeds from the sale to further its mission. This strategic holding of funds enables Fair Bluff Housing Inc. to explore new opportunities for impact, ensuring that its commitment to enhancing housing accessibility continues in meaningful ways.
This information is meant to be a general summary of Fair Bluff 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 2022.
- Investment Income: $86
- Gross Receipts: $86
Assets and Liabilities:
- Total Assets: $495,024
- Total Liabilities: $0
- Net Assets: $495,024
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1981
Phone
(910) 649-7091Principal Officer
Carl W Meares Jr
Main Address
PO 187, FAIR BLUFF, NC, 28439
NTEE Category
Code: L21Z - Housing
If you are a representative of Fair Bluff Housing Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.