Covenant Place Inc.
Covenant Place Inc.
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About this organization
Revenue
$299,389
Expenses
$315,061
Mission
The not for profit corporation was organized to own and operate a 40 unit apartment community in Smithfield, VA known as Covenant Place Apartments. It was organized pursuant to Section 202 of the National Housing Act as amended and has entered into the standard FHA regulatory agreements, which govern the operation of the community, with the Federal Housing Administration section of HUD. A project rental assistance contract (PRAC) provides rent assistance for low income families (or persons), while HUD pays the balance of the rent.
About
The not for profit corporation was organized to own and operate a 40 unit apartment community in Smithfield, VA known as Covenant Place Apartments. It was organized pursuant to Section 202 of the National Housing Act as amended and has entered into the standard FHA regulatory agreements, which govern the operation of the community, with the Federal Housing Administration section of HUD. A project rental assistance contract (PRAC) provides rent assistance for low income families (or persons), while HUD pays the balance of the rent.
Interesting data from their 2020 990 filing
The mission of the non-profit, as stated in the filing, is “The not for profit corporation was organized to own and operate a 40 unit apartment community in smithfield, va known as covenant place apartments. it was organized pursuant to section 202 of the national housing act as amended and has entered into the standard fha regulatory agreements, which govern the operation of the community, with the federal housing administration section of hud. a project rental assistance contract (prac) provides rent assistance for low income families (or persons), while hud pays the balance of the rent.”.
When referring to its tasks, they were described as: “The not for profit corporation was organized to own and operate a 40 unit apartment community in smithfield, va known as covenant place apartments. it was organized pursuant to section 202 of the national housing act as amended and has entered into the standard fha regulatory agreements, which govern the operation of the community, with the federal housing administration section of hud. a project rental assistance contract (prac) provides rent assistance for low income families (or persons), while hud pays the balance of the rent.”.
- The non-profit is operating legally in the state of VA.
- The non-profit's address for the year 2020 is listed as 517 W MAIN STREET, SMITHFIELD, VA, 23430 in the filing.
- The form submitted by the non-profit organization for 2020 reports 0 employees.
- Is not a private foundation.
- Expenses are between $250,000 and $500,000.
- Revenue is between $250,000 and $500,000.
- Revenue less expenses is -$15,672.
- The organization has 7 independent voting members.
- The organization was formed in 1993.
- The organization pays $0 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
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