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Statement of Present Business Assets & Operations

In the 1970's and 80's the Sionito Group joined in the civil society initiatives of the Federal government that asked citizen groups across Canada to become part of the solution towards alleviating some of the challenges that impoverished Canadians faced. Thousands of social housing projects rose in response, four of them developed by Sionito. One of the projects in 1996 was reviewed as an empty derelict building of 84 units in Toronto. In 2009 we direct a program turning away 200 enquiries a year. The Sionito mandate and mission is to help the impoverished with specific emphasis on supporting marginalized seniors and adults whose impoverishment is a result of mental health and addiction challenges. The result of pursuing this mission has been the development of four social housing projects and their associated care programs; three located in Toronto and one located in London Ontario. Using financing from government sources, the Boards of Directors for these charities, incorporated as corporations without share capital (non-profit) have developed assets insured at $16,000,000 with annual operating budgets of $2,000,000. The 177 units effect approx. 262 lives every day, seven days a week.

 

Charity Name Project Name Units/Citizens Annual Revenues Approx. Replace
      (Life-ability + Shelter) = Total Values ( Ins. )
Zerin Development Corporation Zerin Family Apts (Tor) 15/45 0 + 200,796 = $203,786 $2,312,500
Zerin Development Corporation Zerin Place Apts (Lon) 40/80 0 + 450,000 = $354,007 $4,906,662
Sionito Community Development Corporation Alvaro S. Vidal Apts 38/51 39,593 + 364,200 = $404,000 $2,745,713
Grace-Carman Senior Citizens' Home Inc. Bill McMurray Residence 84/86 595,660 + 667,152 = $1,262,812 $5,976,860
Total   177/262 $2,225,000 *$15,942,000