Corrigan Neighborhood Association

Organization Overview

Corrigan Neighborhood Association, operating under the name Corrigan Heights, is located in Omaha, NE. The organization was established in 1985. According to its NTEE Classification (S22) the organization is classified as: Neighborhood & Block Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corrigan Heights 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, Corrigan Heights generated $343.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $304.5k during the year ending 12/2021. While expenses have increased by 1.3% 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

CORRIGAN HEIGHTS IS A THIRTY-FOUR UNIT RENTAL PROJECT OWNED AND OPERATED BY CORRIGAN NEIGHBORHOOD ASSOCIATION, INC., A NONPROFIT ORGANIZATION LOCATED IN OMAHA, NEBRASKA. THE PROJECT IS OPERATED UNDER SECTION 207, PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT OF 1974, MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS, AND IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WITH RESPECT TO RENTAL CHANGES AND OPERATING METHODS. THE PROJECTS MAJOR PROGRAM IS ITS SECTION 207 SUBSIDIZED LOAN. THE PROJECT IS ALSO SUBJECT TO SECTION 8 ASSISTANCE PAYMENTS AGREEMENTS WITH HUD AND A SIGNIFICANT PORTION OF THE PROJECTS RENT IS RECEIVED FROM HUD. THE PROJECTS NONMAJOR PROGRAM IS ITS SECTION 8 RENT SUBSIDY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CORRIGAN HEIGHTS IS A THIRTY-FOUR UNIT RENTAL PROJECT OWNED AND OPERATED BY CORRIGAN NEIGHBORHOOD ASSOCIATION, INC., A NONPROFIT ORGANIZATION LOCATED IN OMAHA, NEBRASKA. THE PROJECT IS OPERATED UNDER SECTION 207, PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT OF 1974, MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS, AND IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) WITH RESPECT TO RENTAL CHANGES AND OPERATING METHODS. THE PROJECTS MAJOR PROGRAM IS ITS SECTION 207 SUBSIDIZED LOAN. THE PROJECT IS ALSO SUBJECT TO SECTION 8 ASSISTANCE PAYMENTS AGREEMENTS WITH HUD AND A SIGNIFICANT PORTION OF THE PROJECTS RENT IS RECEIVED FROM HUD. THE PROJECTS NONMAJOR PROGRAM IS ITS SECTION 8 RENT SUBSIDY.


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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$295,726
Investment income $17
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 $343,811

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