Elders Lodge Corporation

Elders Lodge Corporation (the organization) is a non-profit Corporation, which operates a 43-unit apartment complex under section 202 of the national housing act. The complex, which is located in saint paul, Minnesota, began rental operations in april 1997. This organization is regulated by the u.s. department of housing and urban development (hud) as to rent charges and operating methods and participates in the hud rent supplement program. The organization's major program is its section 202 capital advance.the organization is subject to project rental assistance contract agreements with hud, and a significant portion of the organization's rental income is received from hud. Project rental assistance contract mn46-s941-001 expires april 22, 2023. Hud has agreed to pay the difference between the contract rent, as defined in the agreement, and that portion of rent payable by qualified tenants. The organization's non-major program is its project rental assistance, however, for federal awards compliance purposes this program is included as a major program.