Private nonprofit organization

Private nonprofit organization means any incorporated private institution or foundation:
(1) No part of the net earnings of which inures to the benefit of any member, founder, contributor, or individual;
(2) That has a governing board:
(i) The membership of which is selected in a manner to assure that there is significant representation of the views of the community in which such housing is located; and
(ii) Which is responsible for the operation of the housing assisted under this section, except that, in the case of a nonprofit organization that is the sponsoring organization of multiple housing projects assisted under this section, HUD may determine the criteria or conditions under which financial, compliance, and other administrative responsibilities exercised by a single-entity private nonprofit organization that is the owner corporation of an individual housing project may be shared or transferred to the governing board of such sponsoring organization; and
(3) Which is approved by HUD as to financial responsibility.

Source

24 CFR § 891.205

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Scoping language

As used in this part in reference to the Section 202 Program, and in addition to the applicable definitions in 891.105:

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