$905K in expenses

The fund's primary program service is to provide HUD subsidized/low income housing to qualified tenants. In 2015, the fund commenced a multi-year rehabilitation project under which approximately $3.5 million will be committed to the complete rehabilitation of the fund's housing project in scotia. This project will include the rehabilitation of each apartment, the various common areas, and the replacement of the building elevators. It is projected that approximately $300,000 will be expended in each of the next four years, with the completion of the project in 2028.

$37K in expenses

From time to time, the fund may grant monies to other exempt organizations which share a common mission of supporting senior housing, meals for those living in low income housing, and other purposes which might be otherwise aligned with the fund's mission. In the current fiscal year, the fund provided grants to two exempt organizations in the total amount of $37,000. These grants are reported under page 10, part ix, line 1, with more detailed information reported under schedule i, part ii of this form 990.