Bay Aging Apartments Westmoreland, Inc.

Bay Aging Apartments Westmoreland, Inc., is a non-profit organization classified as a 501(c)(3) exempt from income tax. It is associated with Bay Aging, a broader nonprofit agency dedicated to providing various services in the Middle Peninsula and Northern Neck regions of Virginia.

Overview

Bay Aging Apartments Westmoreland, Inc., primarily operates as a component of Bay Aging's housing division. The organization focuses on providing affordable and supportive housing for elderly individuals. Its most notable project is Parker Run, a 24-unit residential facility located in Montross, Virginia. This facility is specifically designed for elderly adults and operates under the National Affordable Housing Act as a Section 202 project.

Operations

The organization is managed by Bay Aging, which offers accounting and other related services. The financial structure includes substantial support from the U.S. Department of Housing and Urban Development (HUD), particularly through the Section 8 Housing Assistance Program. In 2023, Bay Aging Apartments Westmoreland, Inc., received significant rental assistance through this program.

Financials

As of the financial year ending March 31, 2023, the organization reported a total net asset value of approximately $1.33 million. The financial statements indicate a focus on rent revenues and subsidies from HUD, which are significant components of its total revenue.

Purpose and Impact

Bay Aging Apartments Westmoreland, Inc., like its parent organization, aims to help individuals maintain independence by providing accessible housing options. The organization's efforts contribute to Bay Aging's broader mission to support people of all ages in living independently in their communities. This is achieved through collaborative partnerships and innovative programs that address housing and social needs in rural Virginia.

Partnerships and Governance

The organization is governed by a board of directors, which includes Bay Aging's leadership. This structure ensures alignment with Bay Aging's strategic goals while allowing for specialized focus on housing initiatives. The management agreement with HUD ensures that operations are conducted transparently and efficiently.

Programs and Services

While Bay Aging Apartments Westmoreland, Inc., is specifically involved in elderly housing, its broader impact benefits from the comprehensive services provided by Bay Aging. These include housing assistance, weatherization, transportation, and health-related programs that enhance the quality of life for residents in the Middle Peninsula and Northern Neck regions.

History

The organization's history is intertwined with Bay Aging, which was established in June 1978. Over the years, Bay Aging has expanded its services, including housing initiatives managed by entities like Bay Aging Apartments Westmoreland, Inc.

Conclusion

Bay Aging Apartments Westmoreland, Inc., plays a crucial role in providing affordable and supportive housing for elderly residents in Virginia. As part of Bay Aging's efforts to foster independent living, this organization contributes significantly to addressing housing needs in rural communities.