Overview
What is Fifth Street Highrise Inc?
Fifth Street Highrise Inc. is a nonprofit organization, established in compliance with Kentucky's not-for-profit laws. Initially, its primary objective was to acquire, own, construct, and operate J.O. Blanton House, a 258-unit apartment complex in Louisville, Kentucky. The corporation received financial assistance through Section 236 of the National Housing Act from the U.S. Department of Housing and Urban Development. After selling the property to Jo Blanton Affordable Limited Partnership on October 19, 2018, Fifth Street Highrise Inc. continues to support the project through a seller carryback loan and serves as the managing member of Fifth Street Housing GP, LLC, which acts as the general partner of Jo Blanton Affordable Limited Partnership. Moving forward, the main purpose of Fifth Street Highrise Inc. will be to function as a funding arm for the low-income housing project now owned by Jo Blanton Affordable Limited Partnership.
Is Fifth Street Highrise Inc legitimate?
Fifth Street Highrise Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fifth Street Highrise 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 Fifth Street Highrise Inc?
Fifth Street Highrise Inc., established as a non-profit organization in accordance with Kentucky's statutes, was initially formed to acquire, own, construct, and operate a 258-unit apartment complex. The corporation received housing assistance payments from the U.S. Department of Housing and Urban Development under Section 236 of the National Housing Act. In October 2018, the property was sold to Jo Blanton Affordable Limited Partnership. Now, Fifth Street Highrise Inc. funds the project through a seller carryback loan and serves as the managing member of Fifth Street Housing GP, LLC. The general partner of Jo Blanton Affordable Limited Partnership, Fifth Street Housing GP, LLC, this non-profit organization's primary role moving forward is to function as a financing arm for the low-income project now owned by Jo Blanton Affordable Limited Partnership.
Who is the CEO of Fifth Street Highrise Inc?
Cecil Brookins is the President of Fifth Street Highrise Inc.
What is the revenue of Fifth Street Highrise Inc?
Fifth Street Highrise Inc's revenue in 2023 was $5,401.
Who are the executives of Fifth Street Highrise Inc and what are their salaries?
There 8 volunteers at Fifth Street Highrise Inc.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Fifth Street Highrise Inc?
Fifth Street Highrise Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Fifth Street Highrise Inc
Fifth Street Highrise Inc, established as a nonprofit organization in accordance with Kentucky's statutes, was formed with the primary objective of acquiring, owning, constructing, and operating J.O. Blanton House, a 258-unit apartment complex in Louisville, Kentucky. The corporation receives housing assistance payments from the U.S. Department of Housing and Urban Development under Section 236 of the National Housing Act. After the property was sold to Jo Blanton Affordable Limited Partnership on October 19, 2018, Fifth Street Highrise Inc continued its involvement by funding the project through a seller carryback loan and serving as the managing member of Fifth Street Housing GP, LLC. This limited partnership acts as the general partner for Jo Blanton Affordable Limited Partnership. Moving forward, Fifth Street Highrise Inc's main purpose is to serve as a financing arm for the low-income project now owned by Jo Blanton Affordable Limited Partnership.
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Impact
August, 2024
Fifth Street Highrise Inc's impact is focused on providing affordable housing for low-income individuals in Louisville, Kentucky. Through its ownership and operation of the J.O. Blanton House, a 258-unit apartment complex, the organization receives housing assistance payments from the U.S. Department of Housing and Urban Development. By serving as a financing arm for the low-income project owned by Jo Blanton Affordable Limited Partnership, Fifth Street Highrise Inc plays a crucial role in supporting individuals in need of affordable housing in the community.
This information is meant to be a general summary of Fifth Street Highrise 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 2023.
- Investment Income: $2,184
- Program Service Revenue: $3,217
- Gross Receipts: $5,401
Assets and Liabilities:
- Total Assets: $15,142,221
- Total Liabilities: $0
- Net Assets: $15,142,221
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPMENT FEE INCOME
Revenue
$3,217
Organization Details
Founding Year
1972
Phone
(502) 587-1259Principal Officer
Cecil Brookins
Main Address
850 W MUHAMMAD ALI BLVD, LOUISVILLE, KY, 40203
NTEE Category
Code: L210 - Housing
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