Overview
What is Watauga Residential Development Corporation?
Watauga Residential Development Corporation is a non-profit organization based in Gray, Tennessee. Their primary focus revolves around providing housing for individuals struggling with chronic mental illness. They operate a semi-independent apartment project, which consists of 10 units, and this project is subsidized by the U.S. Department of Housing and Urban Development. Their operational expenses include administrative costs, utilities, maintenance, taxes and insurance, interest, and depreciation. The revenue they generate primarily comes from rent, with some interest income. The corporation also ensures the provision of essential services for the residents, although further details on specific support programs were not provided.
Official website here: www.frontierhealth.org
Is Watauga Residential Development Corporation legitimate?
Watauga Residential Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Watauga Residential Development 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.
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Official website here: www.frontierhealth.org
What is the mission statement of Watauga Residential Development Corporation?
The Watauga Residential Development Corporation is dedicated to providing housing solutions for individuals struggling with chronic mental illness. Their primary mission is to oversee a semi-independent apartment project, which is subsidized by the U.S. Department of Housing and Urban Development, offering accommodation for ten such individuals. The corporation's aim is to enhance the quality of life for these individuals by providing a supportive and subsidized living environment. The corporation manages various expenses related to the project, such as administrative costs, utilities, maintenance, taxes, insurance, and interest. The primary source of revenue for the project is rent, with some additional income from interest.
Official website here: www.frontierhealth.org
Who is the CEO of Watauga Residential Development Corporation?
Kristie Hammonds is the Board Member of Watauga Residential Development Corporation.
Official website here: www.frontierhealth.org
What is the revenue of Watauga Residential Development Corporation?
Watauga Residential Development Corporation's revenue in 2023 was $79,221.
Official website here: www.frontierhealth.org
Who are the executives of Watauga Residential Development Corporation and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.frontierhealth.org
Where can I find the form 990 for Watauga Residential Development Corporation?
Watauga Residential Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.frontierhealth.org
Learn more at the official website: www.frontierhealth.org
Mission Statement of Watauga Residential Development Corporation
The Watauga Residential Development Corporation, a nonprofit organization, is dedicated to providing housing solutions for individuals dealing with chronic mental illness. Specifically, they have initiated a Semi-Independent Apartment Project, which offers 10 units subsidized by the U.S. Department of Housing and Urban Development. This project aims to offer a supportive living environment for those struggling with mental illness, fostering their independence.
The Corporation's main mission revolves around managing the day-to-day operations of the project, including administrative tasks, utilities, maintenance, taxes, and insurance. They also take care of the property's depreciation and generate revenue through rent collection. Interestingly, the interest generated seems to be their only other source of income, as per the information given.
In essence, the Watauga Residential Development Corporation is an organization that offers housing and a supportive environment to those dealing with chronic mental illness, striving to empower these individuals and help them achieve a more independent lifestyle. Their project, funded by the U.S. Department of Housing and Urban Development, is a testament to their commitment to making a difference in the lives of those struggling with mental health issues.
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Impact
June, 2024
Watauga Residential Development Corporation's impact can be seen in their provision of housing for the mentally ill in Gray, TN. Their semi-independent apartment project with 10 units offers a subsidized living option for chronic mentally ill individuals, supported by the U.S. Department of Housing and Urban Development. Through their efforts, they provide a safe and supportive environment for individuals struggling with mental health challenges, promoting stability and improved well-being.
This information is meant to be a general summary of Watauga Residential Development 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 2023.
- Investment Income: $1
- Program Service Revenue: $79,220
- Gross Receipts: $79,221
Assets and Liabilities:
- Total Assets: $216,179
- Total Liabilities: $326,770
- Net Assets: -$110,591
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Payments from Tenants
Revenue
$29,834
Tenant Assistance Payments
Revenue
$49,386
Organization Details
Founding Year
1988
Phone
(423) 467-3600Principal Officer
Kristie Hammonds
Main Address
PO Box PO Box 9054, Gray, TN, 37615
Website
www.frontierhealth.orgNTEE Category
Code: F33Z - Mental health
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