We give our strength to provide excellent housing and services, enhancing the quality of living for elderly persons and their families. LUTHER TERRACE, INC. IS A NOT-FOR-PROFIT GENERAL WELFARE CORPORATION FORMED IN MAY 1978, IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF TENNESSEE. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 40 UNIT COMMUNITY LOCATED IN MEMPHIS, TENNESSEE KNOWN AS LUTHER TERRACE, WHICH PROVIDES HOUSING AND RELATED SERVICES FOR VERY LOW AND EXTREMELY LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.