Overview
What is Carolina Chase Apartments Inc?
Carolina Chase Apartments Inc is a nonprofit organization, specifically a 501(c)(3) corporation, situated in Coppell, Texas. Their primary mission is to provide affordable housing to low-income families by acquiring and holding title to a property known as Carolina Chase Apartments, located at 5351 Peterson Lane, Dallas, Texas 75240. The organization collects income from this property, covering expenses, and then transfers the remaining amount to its sole shareholder, the Center for Housing Resources Inc. The nonprofit's objective is to contribute to affordable housing solutions in the community.
Is Carolina Chase Apartments Inc legitimate?
Carolina Chase Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(25) entity. Carolina Chase Apartments 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: $203,776
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What is the mission statement of Carolina Chase Apartments Inc?
Carolina Chase Apartments Inc's mission is primarily focused on acquiring and managing a specific property, namely the Carolina Chase Apartments, located at an undisclosed location. The primary objective is to generate income from this property and then transfer the entire net income (after accounting for expenses) to its sole shareholder, the Center for Housing Resources, Inc., a non-profit organization. This income transfer serves to support the charitable activities of the Center for Housing Resources, Inc. Additionally, the property is used to provide affordable rental housing to low-income families.
Who is the CEO of Carolina Chase Apartments Inc?
Terri L Anderson is the Chairman of Carolina Chase Apartments Inc.
What is the revenue of Carolina Chase Apartments Inc?
Carolina Chase Apartments Inc's revenue in 2022 was $1,607,205.
Who are the executives of Carolina Chase Apartments 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 Carolina Chase Apartments Inc?
Carolina Chase Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Carolina Chase Apartments Inc
Carolina Chase Apartments Inc, as a mission-driven organization, is dedicated to acquiring and holding title to a specific property known as Carolina Chase Apartments. This property is located at 5351 Peterson Lane, Dallas, Texas. The primary objective of Carolina Chase Apartments Inc is to collect income from this property and subsequently remit the entire amount, after deducting expenses, to its sole shareholder, the Center for Housing Resources, Inc. This non-profit organization operates under Section 501(c)(3) of the Internal Revenue Code, demonstrating its commitment to serving the community. In essence, Carolina Chase Apartments Inc serves as a provider of affordable rental housing for low-income families, ensuring that they have access to safe and comfortable living spaces.
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Impact
October, 2024
Carolina Chase Apartments Inc plays a crucial role in providing affordable rental housing to low-income families in Coppell, Texas. By acquiring and managing the property at 5351 Peterson Lane, the organization helps to alleviate housing insecurity in the area, enabling families to access stable and affordable living conditions.
The income generated from the apartments supports ongoing maintenance and operations, ensuring that residents have a safe and comfortable place to live. Additionally, the remittance of profits to its sole shareholder, The Center for Housing Resources, Inc., highlights a sustainable model that ultimately reinforces the broader mission of promoting affordable housing solutions in the community. This impact not only supports individual families but also contributes to the overall well-being and stability of the local population.
This information is meant to be a general summary of Carolina Chase Apartments 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.
- Investment Income: $308
- Program Service Revenue: $1,606,897
- Gross Receipts: $1,607,205
Assets and Liabilities:
- Total Assets: $1,128,804
- Total Liabilities: $1,724,370
- Net Assets: -$595,566
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$1,606,897
Organization Details
Founding Year
1996
Phone
(972) 567-4630Principal Officer
Terri L Anderson
Main Address
PO BOX 1850, COPPELL, TX, 75019
NTEE Category
Code: Z99 - Unknown
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