Overview
What is Cosmo & Lewis Estates Inc C/O Pendergraph Management?
Cosmo & Lewis Estates Inc C/O Pendergraph Management is a nonprofit organization established to construct, own, and operate a 14-unit apartment community in Raleigh, North Carolina, specifically designed for the elderly, handicapped, and disabled individuals. This project, known as Cosmo and Lewis Estates, adheres to Section 202 of the National Housing Act and operates under the standard HUD regulatory agreements with the Federal Housing Administration section of HUD. The organization secures rental assistance for low-income families or individuals through a HAP contract under the Section 8 program of the National Housing Act, with HUD covering the remaining balance of the rent.
Is Cosmo & Lewis Estates Inc C/O Pendergraph Management legitimate?
Cosmo & Lewis Estates Inc C/O Pendergraph Management is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cosmo & Lewis Estates Inc C/O Pendergraph Management 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 Cosmo & Lewis Estates Inc C/O Pendergraph Management?
Cosmo & Lewis Estates Inc C/O Pendergraph Management was established with a mission to construct, own, and operate a 14-unit apartment community specifically designed for the elderly, handicapped, and disabled individuals. This initiative was carried out in accordance with Section 202 of the National Housing Act, amended. The organization entered into standard regulatory agreements with the Federal Housing Administration sector of HUD, which govern the community's operation. A Housing Assistance Payment (HAP) contract is in place, providing rental assistance for low-income families under the Section 8 program of the National Housing Act. The balance of the rent is covered by HUD, thereby making affordable housing available for this demographic.
Who is the CEO of Cosmo & Lewis Estates Inc C/O Pendergraph Management?
Bettie Branch is the Director of Cosmo & Lewis Estates Inc C/O Pendergraph Management.
What is the revenue of Cosmo & Lewis Estates Inc C/O Pendergraph Management?
Cosmo & Lewis Estates Inc C/O Pendergraph Management's revenue in 2022 was $126,618.
Who are the executives of Cosmo & Lewis Estates Inc C/O Pendergraph Management 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 Cosmo & Lewis Estates Inc C/O Pendergraph Management?
Cosmo & Lewis Estates Inc C/O Pendergraph Management's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Cosmo & Lewis Estates Inc C/O Pendergraph Management
Cosmo & Lewis Estates Inc C/O Pendergraph Management, a not-for-profit corporation, was established with a mission to construct, own, and operate a 14-unit apartment community in Raleigh, NC, specifically catering to the elderly, handicapped, and disabled individuals. In line with Section 202 of the National Housing Act, this organization was established to provide a secure living environment for these individuals. By entering into standard HUD regulatory agreements with the Federal Housing Administration section of HUD, Cosmo & Lewis Estates Inc C/O Pendergraph Management ensures the operation of the community adheres to strict guidelines.
To further support low-income families or individuals, Cosmo & Lewis Estates Inc C/O Pendergraph Management has secured a Housing Assistance Payment (HAP) contract. Under this agreement, the Section 8 program of the National Housing Act provides rent assistance, while the balance of the rent is covered by HUD. This arrangement enables the organization to provide affordable housing solutions, ensuring that individuals in need can maintain a stable living environment.
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Impact
October, 2024
Cosmo & Lewis Estates Inc, through the operation of its 14-unit apartment community in Raleigh, NC, significantly enhances the living conditions for elderly, handicapped, and disabled individuals. By providing affordable housing options, it directly addresses the critical need for supportive living environments for vulnerable populations. The establishment of this community enables residents to enjoy a secure and stable home, which is essential for their well-being and quality of life.
The incorporation of a Housing Assistance Payment (HAP) contract facilitates rent assistance under the Section 8 program, ensuring that low-income families and individuals can afford to live in this community. This financial support not only alleviates the burden of high housing costs but also promotes social inclusion by enabling residents to remain in their communities and maintain connections with friends and family.
Moreover, Cosmo & Lewis Estates adheres to strict guidelines set forth by the Federal Housing Administration (FHA), ensuring that the operational standards meet the needs of its residents. This compliance fosters a safe, nurturing environment conducive to the health and happiness of the elderly, handicapped, and disabled populations it serves. Overall, Cosmo & Lewis Estates plays a crucial role in addressing housing disparities and improving the quality of life for its residents.
This information is meant to be a general summary of Cosmo & Lewis Estates Inc C/O Pendergraph Management. 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: $4
- Program Service Revenue: $36,884
- Gross Receipts: $126,618
Assets and Liabilities:
- Total Assets: $199,193
- Total Liabilities: $263,929
- Net Assets: -$64,736
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$36,884
Organization Details
Founding Year
1986
Phone
(919) 755-0558Principal Officer
Bettie Branch
Main Address
PO BOX 19691, RALEIGH, NC, 27619
NTEE Category
Code: L21 - Housing
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