IRS 990 Nonprofit Profile

Bethany Village Apartments INC

Bethany village apartments, inc. (the project) was organized to construct, own and operate a 100-unit apartment community in indianapolis, indiana, known as bethany village apartments, pursuant to section 202 of the national affordable housing act as amended. the project has executed a regulatory agreement with hud, which governs the operation of the project with the federal housing administration (fha) section of hud. the project has also entered into a housing assistance payment contract (hap contract) with hud. the hap contract is a rent assistance program for low-income families (or persons) as provided by the section 8 program of the national housing act. eligible low-income tenants pay 30% of their income as rent while hud pays the difference between this rental amount and contract rent (as defined). the project can request from hud an additional amount equal to 80% of contract rent during periods that the unit is vacant if certain conditions are met, but not to exceed 60 days. i

Filing year

2013

Total revenue

$760K

Total expenses

$774K

Program expenses

$595K

Administration

$179K

Fundraising

$0

Program share of expenses

77%

EIN

311010573

Location

Indianapolis, IN