Kearney Villa Housing Corporation

Organization Overview

Kearney Villa Housing Corporation is located in Springfield, MO. The organization was established in 1994. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Kearney Villa Housing Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kearney Villa Housing 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 12/2022, Kearney Villa Housing Corporation generated $195.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $223.5k during the year ending 12/2022. While expenses have increased by 2.7% per year over the past 8 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

2022

Describe the Organization's Mission:

Part 3 - Line 1

KEARNEY VILLA HOUSING CORPORATION OWNS AND OPERATES A 31 UNIT APARTMENT COMPLEX THAT PROVIDES SAFE AND AFFORDABLE HOUSING TO VERY LOW INCOME FAMILIES. THE CORPORATION'S ACTIVITIES ARE OPERATED UNDER SECTION 202 OF THE NATIONAL HOUSING ACT AND REGULATED BY RULES AND REGULATIONS OF THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). HUD PROVIDED THE INITIAL LOAN TO CONSTRUCT THE FACILITY AND PROVIDES MUCH OF THE CONTINUING SUPPORT BY WAY OF MONTHLY RENT SUBSIDY SECTION 8 - HOUSING ASSISTANCE PAYMENTS FOR THE ELDERLY. THE LOAN WAS REFINANCED IN 2017. THE HAP CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW INCOME FAMILIES. ELIGIBLE LOW INCOME TENANTS PAY 30% OF THEIR INCOME AS RENT WHILE HUD PAYS THE DIFFERENCE BETWEEN THE CONTRACT RENT AND THE RENT PAID BY THE TENANT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDES SAFE AND AFFORDABLE HOUSING TO 31 ELDERLY AND LOW INCOME FAMILIES.


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Board, Officers & Key Employees

Name (title)Compensation
Boyd Homer
Director
$0
Jeremy Pickens
Director
$0
William Reynolds
Director
$0
Daniel Adams
Secretary
$0
Trevor Logan
President
$0
Gary Pickens
Treasurer
$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$194,958
Investment income $193
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 $195,151

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