Opportunity Apartments Inc

Organization Overview

Opportunity Apartments Inc is located in Kendallville, IN. The organization was established in 1991. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Opportunity Apartments Inc 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 06/2021, Opportunity Apartments Inc generated $156.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $164.1k during the year ending 06/2021. While expenses have increased by 1.4% per year over the past 6 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

OPPORTUNITY APARTMENTS, INC. IS AN INDIANA NOT-FOR-PROFIT AND WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 15 UNIT APARTMENT COMPLEX IN KENDALLVILLE, INDIANA KNOWN AS OPPORTUNITY APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT. THE ORGANIZATION HAS EXECUTED THE STANDARD REGULATORY AGREEMENTS WITH HUD THAT GOVERN THE OPERATIONS OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION (FHA). IN ADDITION, THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP) WITH HUD. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR ELIGIBLE LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY HUD.

Describe the Organization's Program Activity:

Part 3 - Line 4a

OPPORTUNITY APARTMENTS, INC. IS AN INDIANA NOT-FOR-PROFIT AND WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 15 UNIT APARTMENT COMPLEX IN KENDALLVILLE, INDIANA KNOWN AS OPPORTUNITY APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT. THE ORGANIZATION HAS EXECUTED THE STANDARD REGULATORY AGREEMENTS WITH HUD THAT GOVERN THE OPERATIONS OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION (FHA). IN ADDITION, THE CORPORATION HAS ALSO ENTERED INTO A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP) WITH HUD. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR ELIGIBLE LOW INCOME FAMILIES OR PERSONS AS PROVIDED BY HUD.


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Board, Officers & Key Employees

Name (title)Compensation
Steve Howell
President
$0
John Cox
Secretary / Treasurer
$0
Mark Pfefferkorn
Director
$0
Dorothy Fuentes
Director
$0
Rebecca Calhoun
Director
$0
Virgilia Mueller
Hr Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $106,255
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$106,255
Total Program Service Revenue$48,377
Investment income $283
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 $156,544

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