Orford Village Housing Development Corporation

Organization Overview

Orford Village Housing Development Corporation is located in Manchester, CT. The organization was established in 2017. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Orford Village Housing Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Orford Village Housing Development Corporation generated $765.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $863.6k during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE ORGANIZATION WAS ESTABLISHED FOR THE PURPOSE OF PURCHASING, BUILDING, RENTING, AND OPERATING A 44-UNIT HOUSING COMPLEX, KNOWN AS KRAUSE GARDENS, AND A 20-UNIT HOUSING COMPLEX KNOWN AS CROCKETT FIELDS. BOTH ARE LOCATED IN MANCHESTER, CONNECTICUT AND THEY OPERATE UNDER AN AFFORDABLE HOUSING PROGRAM ASSISTANCE AGREEMENT BETWEEN THE STATE OF CONNECTICUT AND THE ORGANIZATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

RENTING AND OPERATING A 44-UNIT HOUSING COMPLEX AND A 20-UNIT HOUSING COMPLEX UNDER AN AFFORDABLE HOUSING PROGRAM ASSISTANCE AGREEMENT WITH THE STATE OF CONNECTICUT.


RENTING AND OPERATING A 44-UNIT HOUSING COMPLEX AND A 20-UNIT HOUSING COMPLEX UNDER AN AFFORDABLE HOUSING PROGRAM ASSISTANCE AGREEMENT WITH THE STATE OF CONNECTICUT. THE STATE MADE A GRANT TO THE PROJECT THAT WOULD BE USED TO REIMBURSE FOR ELIGIBLE COSTS INCURRED BY THE PROJECT TO RENT TO ELDERLY TENANTS WITH INCOMES AT 50% TO 80% OF AREA MEDIAN INCOME AND WHOSE RENT IS NO MORE THAT 30% OF THEIR ANNAUL INCOME FOR A PERIOD OF 15 YEARS.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$765,182
Investment income $29
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $765,211

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Orford Village Housing Development Corporation has recieved totaling $15,000.

Awarding OrganizationAmount
Bowdoin Apartments Corp

Malden, MA

PURPOSE: PROGRAM SUPPORT

$15,000
View Grant Recipient Profile

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