Overview
What is Kingsport Residential Development Corporation?
Kingsport Residential Development Corporation is a nonprofit organization situated in Gray, Tennessee. Their primary mission is to provide housing for individuals struggling with mental illness, specifically through a Semi-Independent Apartment Project. This project includes 11 residential units, which are funded by the U.S. Department of Housing and Urban Development (HUD). Their operations involve substantial expenses in various categories, such as administrative costs, utilities, taxes and insurance, depreciation, and rental income. They also receive significant contributions, which help sustain their services. The organization's activities primarily revolve around providing a supportive living environment for mentally ill adults, enabling them to live as independently as possible.
Official website here: www.frontierhealth.org
Is Kingsport Residential Development Corporation legitimate?
Kingsport Residential Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Kingsport 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 Kingsport Residential Development Corporation?
The Kingsport Residential Development Corporation's mission involves providing housing for chronically mentally ill adults. They have developed a semi-independent apartment project, subsidized by the U.S. Department of Housing and Urban Development (HUD), which comprises 11 units. The corporation's objective is to offer a supportive living environment for these individuals, enabling them to maintain a degree of independence. The project's expenses include administrative costs, utilities, operating expenses, taxes and insurance, and depreciation. The primary source of revenue comes from rent, with additional income from interest, laundry services, and contributions.
Official website here: www.frontierhealth.org
Who is the CEO of Kingsport Residential Development Corporation?
Kristie Hammonds is the Board Member of Kingsport Residential Development Corporation.
Official website here: www.frontierhealth.org
What is the revenue of Kingsport Residential Development Corporation?
Kingsport Residential Development Corporation's revenue in 2023 was $222,943.
Official website here: www.frontierhealth.org
Who are the executives of Kingsport 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 Kingsport Residential Development Corporation?
Kingsport 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 Kingsport Residential Development Corporation
Kingsport Residential Development Corporation, a nonprofit organization, is dedicated to providing housing solutions for chronically mentally ill adults. Their mission is realized through a Semi-Independent Apartment Project, which consists of 11 units. This project is supported by the U.S. Department of Housing and Urban Development (HUD). The primary objective of this project is to offer a living space that promotes independence for these individuals, while ensuring their mental health needs are met. The corporation's financial operations include expenses for administration, utilities, operating costs, taxes and insurance, and depreciation, as well as revenue from rent, interest, laundry services, and contributions. The financial support received allows Kingsport Residential Development Corporation to provide a secure and supportive environment for these individuals, enabling them to lead fulfilling and stable lives.
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Impact
October, 2024
Kingsport Residential Development Corporation significantly impacts the community by providing essential housing for adults with chronic mental illness. With a focus on semi-independent living, the organization operates 11 apartment units designed to support individuals in maintaining their independence while receiving the help they need.
Financially, the initiative demonstrates a robust model of support, with total revenue of $63,320 from rent and additional income through interest and contributions amounting to $159,121. Despite operating expenses, including administrative costs and utilities, the corporation effectively utilizes subsidies from the U.S. Department of Housing and Urban Development (HUD) to sustain its mission.
The housing solutions offered contribute both to the well-being of the residents and to the broader community by fostering a more inclusive society. By enabling chronic mentally ill adults to live in a supportive environment, Kingsport Residential Development Corporation not only addresses critical housing shortages but also empowers individuals to achieve greater stability and quality of life. This approach ultimately helps reduce the stigma surrounding mental health and highlights the importance of community-based support systems.
This information is meant to be a general summary of Kingsport 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: $2
- Program Service Revenue: $63,320
- Gross Receipts: $222,943
Assets and Liabilities:
- Total Assets: $655,462
- Total Liabilities: $205,443
- Net Assets: $450,019
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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
$32,232
Tenant Assistance Payments
Revenue
$31,088
Organization Details
Founding Year
1996
Phone
(423) 467-3600Principal Officer
Kristie Hammonds
Main Address
PO Box PO Box 9054, Gray, TN, 37615
Website
www.frontierhealth.orgNTEE Category
Code: P21Z - Human services
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