Enriched Housing for Seniors (India Home)

Enriched Housing for Seniors (India Home)

Enriched Housing for Seniors

Enriched Housing for Seniors

Overview

Raised this Round: 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    Open SEC Filing

Interest Rate

8.00%

Term Length

3.0 years

Year Founded

2007

Industry

Real Estate & Construction

Tech Sector

Non-Tech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

Jamaica, New York

Business Type

Life Style

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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India Home on Common Owner 2022
Platform: Common Owner
Security Type: Debt

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