Wake County Opportunities Housing Corporation II
Wake County Opportunities Housing Corporation II
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More about this organization
Mission
The not for profit corporation was organized to own and operate a 40 unit apartment community in Holly Springs, NC known as Holly Springs II Apartments. It was organized pursuant to Section 202 of the National Housing Act as amended and has entered into the standard FHA regulatory agreemeents, 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) as provided by the Section 9 program of the National Housing Act.
About
The not for profit corporation was organized to own and operate a 40 unit apartment community in Holly Springs, NC known as Holly Springs II Apartments. It was organized pursuant to Section 202 of the National Housing Act as amended and has entered into the standard FHA regulatory agreemeents, 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) as provided by the Section 9 program of the National Housing Act.
Revenue
$221,443
Expenses
$284,295
Interesting data from their 2019 990 filing
The filing clearly states the mission of the non-profit as “The not for profit corporation was organized to own and operate a 40 unit apartment community in holly springs, nc known as holly springs ii apartments. it was organized pursuant to section 202 of the national housing act as amended and has entered into the standard fha regulatory agreemeents, 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) as provided by the section 9 program of the national housing act.”.
When outlining its functions, they were explained as: “The not for profit corporation was organized to own and operate a 40 unit apartment community in holly springs, nc known as holly springs ii apartments. it was organized pursuant to section 202 of the national housing act as amended and has entered into the standard fha regulatory agreemeents, 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) as provided by the section 9 program of the national housing act.”.
- In compliance with legal regulations, the non-profit has reported their state of operation as NC.
- The filing records the non-profit's address for 2019 as 567 E HARGETT STREET, RALEIGH, NC, 27601.
- As of 2019, the non-profit's form reports a total of 0 employees.
- Is not a private foundation.
- Expenses are between $250,000 and $500,000.
- Revenue is between $100,000 and $250,000.
- Revenue less expenses is -$62,852.
- The organization has 8 independent voting members.
- The organization was formed in 1998.
- The organization pays $0 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.