Overview
What is Derose Hdc Inc?
Derose Hdc Inc is a nonprofit organization based in San Jose, California, with an address at 505 W Julian Street. This organization serves as a general partner in limited partnerships that own and operate housing for low and moderate-income individuals and families. Besides this, Derose Hdc Inc is also the sole member of Hermocilla LLC, an entity with the purpose of acquiring, rehabilitating, and operating a 100-unit affordable senior housing complex in San Jose, currently operating under the name Villa Hermosa Apartments. The mission of Derose Hdc Inc is to facilitate the development of affordable housing.
Is Derose Hdc Inc legitimate?
Derose Hdc Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Derose Hdc 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 Derose Hdc Inc?
Derose Hdc Inc's mission is centered around facilitating the development of affordable housing. The organization operates as a general partner in limited partnerships, which own and operate housing and provide related services to individuals and families with low and moderate incomes. Additionally, Derose Hdc Inc is the sole member of Hermocilla LLC, an entity dedicated to acquiring, rehabilitating, and operating a 100-unit affordable senior housing complex in San Jose, California, currently known as Villa Hermosa Apartments. The organization's activities are geared towards addressing the housing needs of those with limited financial resources.
Who is the CEO of Derose Hdc Inc?
Preston Prince is the President of Derose Hdc Inc.
What is the revenue of Derose Hdc Inc?
Derose Hdc Inc's revenue in 2022 was $1,587,834.
Who are the executives of Derose Hdc Inc and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $382,229
- Other: $62,452
- Compensation: $0
- Related: $285,602
- Other: $46,751
Where can I find the form 990 for Derose Hdc Inc?
Derose Hdc Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Derose Hdc Inc
Derose Hdc Inc, a nonprofit organization, is committed to facilitating the development of affordable housing. This mission is achieved through the organization's role as a general partner in limited partnerships that own and operate housing, providing related services to low and moderate income individuals and families. To further expand its impact, Derose Hdc Inc is also the sole member of Hermocilla LLC, an entity established with the purpose of acquiring, rehabilitating, and operating a 100-unit affordable senior housing complex in San Jose, California, currently operating under the name Villa Hermosa Apartments. By engaging in these activities, Derose Hdc Inc plays a significant role in addressing the housing needs of individuals and families with limited financial resources, contributing to the creation of communities where affordable housing is accessible to all.
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Impact
October, 2024
Derose Hdc Inc plays a vital role in addressing the housing needs of low and moderate-income individuals and families in San Jose, California. By operating housing projects and serving as a general partner in limited partnerships, the organization ensures that affordable housing options are available to those who need them most.
One of its significant initiatives includes the management of Villa Hermosa Apartments, a 100-unit affordable senior housing complex. This facility not only provides shelter but also fosters a supportive community for seniors, enhancing their quality of life. Through its commitment to acquiring, rehabilitating, and operating affordable housing, Derose Hdc Inc contributes to the broader goal of increasing access to safe and stable living environments, thereby helping to combat homelessness and housing insecurity in the region.
Overall, the organization is instrumental in facilitating the development of affordable housing, which is crucial for supporting the livelihoods and well-being of underserved populations in the area.
This information is meant to be a general summary of Derose Hdc 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: $184
- Program Service Revenue: $1,587,650
- Gross Receipts: $1,587,834
Assets and Liabilities:
- Total Assets: $5,718,595
- Total Liabilities: $7,206,973
- Net Assets: -$1,488,378
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,538,948
MANAGEMENT FEE
Revenue
$30,000
OTHER INCOME
Revenue
$18,702
Organization Details
Founding Year
1998
Phone
(408) 275-8770Principal Officer
Preston Prince
Main Address
505 W JULIAN STREET, SAN JOSE, CA, 95110
NTEE Category
Code: L22Z - Housing
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