$108K in expenses

Appletree court was incorporated as a 501(c)(3) independent, income-based, senior housing unit in 1998. This 20 apartment complex was established to provide clean, comfortable, safe, and affordable housing for elderly, low-income residents of the breckenridge community. Appletree court's 10-member board of directors and the director oversee the operations of the housing complex and provide reduced rents to its tenants. The rent on the apartments is adjusted based on each tenant's income. If the rent is less than the housing and urban development (HUD) established minimum, $552 in 2023 and $613 in 2024, HUD makes up the difference. However, the HUD minimum rent is less than the market rate for similar housing developments in our community, thus allowing the tenants to live in housing of a higher quality than they could otherwise afford. Appletree court also provides social and recreational activities for the tenants of the complex. In addition, appletree court provides meeting space free of charge to several health-related community groups, such as weight loss, grief support, etc. Tenants are also encouraged to use the community areas free of charge.