NEW HOPE ESTATES GROUP HOME INC

NEW HOPE ESTATES GROUP HOME, INC. IS A NOT-FOR PROFIT ORGANIZATON WHICH IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND COMPARABLE STATE LAW. THE ORGANIZATION OWNS AND OPERATES A SIX UNIT RESIDENTIAL FACILITY FOR DISABLED PERSONS, LOCATED IN STAFFORD, VIRGINIA. SUBSTANTIALLY ALL REVENUES RESULT FROM TENANT RENTALS AND RENTAL SUBSIDIES FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SECTION 8 HOUSING ASSISTANCE PROGRAM. THE ORGANIZATION HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED ORGANIZATION UNDER SECTION 509(A) OF THE CODE. THE PROHECT IS A SECTION 811 PROJECT UNDER THE NATIONAL AFFORDABLE HOUSING ACT. THE ORGANIZATION IS MANAGED BY RAPPAHANNOCK AREA COMMUNITY SERVICES BOARD (RACSB). RENTAL OPERATIONS COMMENCED IN JULY 2007.