Enriched Housing for Seniors (India Home)
Enriched Housing for Seniors
Overview
Raised: $652,250
Total Commitments ($USD)
Platform
Common Owner
Start Date
11/07/2022
Close Date
12/31/2022
Min. Goal
$600,000
Max. Goal
$800,000
Min. Investment
$2,000
Security Type
Debt
SEC Filing Type
RegCF
Interest Rate
8.00%
Term Length
3.0 years
Rolling Commitments ($USD)
Status
Funded
Reporting Date
12/31/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$12,307
# of Investors
27
Momentum
Funded
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Year Founded
2007
Industry
Real Estate & Construction
Tech Sector
Non-Tech
Distribution Model
B2C
Margin
Medium
Capital Intensity
High
India Home is raising funds on Common Owner. It is a non-profit organization dedicated to addressing the needs of the Indian and other South Asian senior immigrants in New York City. The company is currently focused on purchasing a building in Jamaica, New York, and renovating it into an assisted living facility for seniors. The culturally-competent adult care facility will provide assistance to seniors with their daily activities, medication management, and comfortable living. Vasundhara Kalasapudi founded India Home in March 2007. The current crowdfunding campaign has a minimum target of $600,000 and a maximum target of $800,000. The campaign proceeds will be used for building applications and permits, architectural designs, business plan developments, policy and procedure manuals, and government grant applications.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$1,397,552 |
$873,838 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$201,224 |
$50,396 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$286,511 |
$545,061 |
|
Accounts Receivable |
$469,531 |
$39,750 |
|
Total Assets |
$2,404,643 |
$663,391 |
|
Short-Term Debt |
$329,200 |
$285,573 |
|
Long-Term Debt |
$1,648,401 |
$152,000 |
|
Total Liabilities |
$1,977,601 |
$437,573 |
Financials as of: 11/07/2022
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