The group of companies started with CARE Housing Services Corporation. It was founded in 1989 as a California non-profit public benefit corporation to promote development of affordable housing for low and very low-income residents. It functions as the parent entity for a group of nonprofit corporations working together in concert toward that purpose.
CARE qualifies for federal tax exemption as a public charity under Sections 501(c)(3) and 509(a)(3) of the Internal Revenue Code and is also exempt from state taxation. It meets the requirements of a “qualified nonprofit organization” for purposes of the Federal Low Income Housing Tax Credit under Section 42(h)(5)(C) of the Internal Revenue Code, as well as a nonprofit organization that qualifies as a priority purchaser under Section 231 of the Low Income Housing Preservation and Resident Home Ownership Act of 1990. CARE also qualifies as an eligible nonprofit purchaser of residential properties from the Resolution Trust Corporation in accordance with 12 U.S. Code, Section 1441A(c)(6)(A) as enacted by the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (“FIRREA”).
The CARE Housing Services group of companies was created solely to provide the housing needs for individuals in all stages of life, in all different types of circumstances, and to help better their lives in many ways. We accomplish our mission in several key ways:
- Acquisition, rehabilitation and sale of affordable single-family homes
- Development, or acquisition and rehabilitation of multifamily projects
- Offering a variety of valuable resident services.
CARE’s primary goal is to help resolve the affordable housing crisis today, and tomorrow, by saving “at risk properties” from going to market rents, as well as meeting the immediate need for safe, decent and affordable housing. With an eye toward a more equitable future, we aim to provide residents with catalysts for social mobility.
CARE’s mission is to provide decent, affordable housing with accessory social services for the populations it serves. CARE accomplishes this mission through two specific interrelated approaches:
1) Assuring, through direct involvement of individual residents, a responsible attitude toward the maintenance of safe, sanitary and decent facilities, in order to promote a wholesome environment for all residents.
2) Directly, or in conjunction with others, developing and implementing social programs in the fields of education, employment, childcare, health care and other counseling that provides its residents opportunities for individual advancement and general improvement in their lives.