Can faith based organization manage all activities or do we need a management company?
A faith based organization can facilitate all activities as long as the applicant can indicate a capacity to do so and can meet HUD’s requirements for faith based organizations. • Do faith-based organizations have to submit a budget? Yes, as a non-profit/501 C-3, financial statements are still required. • How long do you need to be certified as a 501 C-3? There is no required length of time for certification as a 501(c)3 but the IRS designation must already have been made in order to qualify as a non-profit organization. • Is preference given to towards rental development projects vs home ownership? No preference is given towards to rental proposals over homeownership proposals • Is a ‘subcontractor’ an entity that directly receives funds from the State or a company that enters into a contract for services with a State NSP grantee? A subcontractor is an entity that enters into a contract for services with an NSP grantee. • What information will help to determine readiness to proceed? T
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- Can faith based organization manage all activities or do we need a management company?
