North Vernon Senior Housing Corporation

Organization Overview

North Vernon Senior Housing Corporation is located in North Vernon, IN. The organization was established in 1977. 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. As of 12/2021, North Vernon Senior Housing Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Vernon Senior Housing Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2021, North Vernon Senior Housing Corporation generated $378.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $349.6k during the year ending 12/2021. 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

TO PROVIDE SUBSIDIZED RENTAL HOUSING TO LOW INCOME SENIOR CITIZENS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

INTEREST EXPENSE ON LOANS THAT WERE OBTAINED TO BUILD THE RENTAL ASSISTED HOUSING UNITS WHICH ARE THE BASIS FOR THE PROGRAM SERVICES.


DEPRECIATION EXPENSE ON THE RENTAL HOUSING UNITS THAT ARE THE BASIS FOR PROGRAM SERVICES.


OCCUPANCY EXPENSES FOR THE RENTAL HOUSING UNITS THAT ARE THE BASIS FOR PROGRAM SERVICES.


OTHER PROGRAM SERVICE EXPENSES CONSIST MOSTLY OF WAGES AND INSURANCE.


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Board, Officers & Key Employees

Name (title)Compensation
Frances Gwin
Secretary And Manager
$29,600
Tom Taylor
Treasurer
$0
Earl Taggart
VP
$0
Merrill Salyers
President
$0

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$368,570
Investment income $1,875
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 $377,987

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