Overview
What is Black River Area Housing Development Corporation For Lawrence County?
Black River Area Housing Development Corporation for Lawrence County is a nonprofit organization situated in Pocahontas, Arkansas. Its primary mission is to construct and manage an apartment complex with 20 units in Walnut Ridge, Arkansas, under Section 202 of the National Housing Act. Regulated by the Department of Housing and Urban Development, the organization ensures that rent charges and operating methods adhere to their guidelines. The organization's activities primarily revolve around the operation of this apartment complex, with expenditures related to project operations and corporate purposes being considered program expenses.
Is Black River Area Housing Development Corporation For Lawrence County legitimate?
Black River Area Housing Development Corporation For Lawrence County is a legitimate nonprofit organization registered as a 501(c)(3) entity. Black River Area Housing Development Corporation For Lawrence County 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: $10,170
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,096
For more financial information, click here
What is the mission statement of Black River Area Housing Development Corporation For Lawrence County?
The Black River Area Housing Development Corporation's mission is centered around constructing and managing an apartment complex of 20 units. This project, regulated by the Department of Housing and Urban Development under Section 202 of the National Housing Act, is dedicated to providing housing solutions. The corporation's operations and methods are strictly supervised by the Department of Housing and Urban Development, particularly in regards to rental charges. The expenditures incurred in operating the project and those made for corporate purposes are categorized as program expenses. In essence, the corporation's mission is to provide affordable housing solutions within the regulations set by the National Housing Act.
Who is the CEO of Black River Area Housing Development Corporation For Lawrence County?
Fred Martin is the President of Black River Area Housing Development Corporation For Lawrence County.
What is the revenue of Black River Area Housing Development Corporation For Lawrence County?
Black River Area Housing Development Corporation For Lawrence County's revenue in 2022 was $272,300.
Who are the executives of Black River Area Housing Development Corporation For Lawrence County and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $105,555
- Other: $0
- Compensation: $0
- Related: $53,527
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Black River Area Housing Development Corporation For Lawrence County?
Black River Area Housing Development Corporation For Lawrence County's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Black River Area Housing Development Corporation For Lawrence County
Black River Area Housing Development Corporation for Lawrence County was established with a mission to construct and manage an apartment complex comprising 20 units. This project, operated under Section 202 of the National Housing Act, is regulated by the Department of Housing and Urban Development, overseeing both rent charges and operational methods. The corporation's primary objective is to provide affordable housing, ensuring program expenses cover all operational costs and corporate needs.
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Impact
October, 2024
The Black River Area Housing Development Corporation for Lawrence County has made a significant impact on the community by constructing and operating an apartment complex with 20 units in Walnut Ridge, Arkansas. This project addresses the critical need for affordable housing in the area, providing residents with safe and stable living conditions.
By operating under Section 202 of the National Housing Act and adhering to regulations set by the Department of Housing and Urban Development, the corporation ensures that rent charges and operating methods are managed responsibly, facilitating accessibility for low-income individuals. The financial investments made in operating this complex contribute directly to improving the quality of life for its residents, supporting local economic stability, and fostering a sense of community.
Overall, the initiative plays a vital role in alleviating housing shortages and promoting social well-being within Lawrence County.
This information is meant to be a general summary of Black River Area Housing Development Corporation For Lawrence County. 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: $633
- Program Service Revenue: $89,879
- Gross Receipts: $272,300
Assets and Liabilities:
- Total Assets: $743,424
- Total Liabilities: $207,481
- Net Assets: $535,943
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$89,879
Organization Details
Founding Year
1983
Phone
(870) 892-4547Principal Officer
Fred Martin
Main Address
1403 HOSPITAL DRIVE, POCAHONTAS, AR, 72455
NTEE Category
Code: L21Z - Housing
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