Overview
What is Back Track Inc?
Back Track Inc is a nonprofit organization located in Louisville, Kentucky, specifically at 422 Heywood Avenue. Their primary mission is to provide affordable housing solutions to individuals aged 55 or older, whose annual income falls below 50% of the area median income. The organization ensures that the rents are further capped at 50% of the current rent limit, which is published annually, to maintain affordability. By doing so, Back Track Inc plays a crucial role in offering a secure living environment for this specific demographic in need.
Is Back Track Inc legitimate?
Back Track Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Back Track 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.
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What is the mission statement of Back Track Inc?
Back Track Inc is an organization dedicated to providing affordable housing solutions. Their primary mission is to cater to low-income individuals who are 55 years old or above, ensuring that their annual income does not surpass 50% of the area median income. The rents in these housing units are further regulated, not exceeding 50% of the current rent limit, which is updated annually. Overall, Back Track Inc aims to offer quality, affordable living spaces to this specific demographic, enhancing their living standards within their financial means.
Who is the CEO of Back Track Inc?
Rick Hiles is the Chairman of Back Track Inc.
What is the revenue of Back Track Inc?
Back Track Inc's revenue in 2022 was $353,029.
Who are the executives of Back Track Inc 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 Back Track Inc?
Back Track Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Back Track Inc
Back Track Inc, a nonprofit organization, is committed to providing quality and affordable housing to individuals who are 55 years old or older and have an annual income that falls below 50% of the area median income. The rents in these housing units are further capped, ensuring they do not exceed 50% of the current rent limit, which is published annually. The mission of Back Track Inc is to offer affordable housing to qualifying low-income and senior individuals, providing them with a secure living environment during their golden years.
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Impact
October, 2024
Back Track Inc significantly enhances the quality of life for low-income residents aged 55 and older by providing them with access to quality affordable housing. Targeting individuals with an annual income at or below 50% of the area median income, the organization ensures that housing costs are manageable, capping rents at no more than 50% of the current rent limit published annually. This approach not only alleviates financial strain for seniors but also fosters a sense of community and stability among residents. By addressing the critical housing needs of this vulnerable demographic in Louisville, KY, Back Track Inc plays a vital role in promoting dignity, security, and well-being for seniors who might otherwise struggle to find suitable living arrangements.
This information is meant to be a general summary of Back Track 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.
- Program Service Revenue: $353,029
- Gross Receipts: $353,029
Assets and Liabilities:
- Total Assets: $2,774,640
- Total Liabilities: $3,926,069
- Net Assets: -$1,151,429
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOW INCOME HOUSING
Revenue
$353,029
Organization Details
Founding Year
2000
Phone
(502) 636-2900Principal Officer
Rick Hiles
Main Address
422 HEYWOOD AVENUE, LOUISVILLE, KY, 40208
NTEE Category
Code: L22 - Housing
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