Overview
What is Affordable Housing Associates Of Lynn Inc?
Affordable Housing Associates of Lynn Inc, situated in Lynn, Massachusetts, is a dedicated nonprofit organization with a primary focus on housing development and management. Their mission is clear and straightforward: to provide affordable housing options for the community. This mission is carried out through their housing development and management activities, ensuring that affordable housing remains accessible for residents in the area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 27%
Affordable Housing Associates Of Lynn Inc has received a low rating of 27%, resulting in a Zero-Star out of Four Star rating. This score indicates significant concerns regarding the organization’s accountability and financial practices. While it excels in having a fully independent board, it struggles with financial transparency, as evidenced by the absence of financial statements and various missing policies that are crucial for operational integrity.
The organization has demonstrated strong governance through its independent board structure, with all board members meeting independence criteria. However, the lack of essential financial documentation and missing policies on conflict of interest and whistleblowing raises red flags about its overall management and accountability. These gaps could hinder the organization's credibility and trustworthiness among stakeholders.
Moreover, the financial ratios indicate a concerning situation, with a program expense ratio of 0.00%, suggesting that the charity may not be allocating resources effectively toward its mission. The absence of a website listed on its tax form further complicates efforts for transparency and accessibility of information. Without addressing these critical areas, Affordable Housing Associates Of Lynn Inc may struggle to gain the confidence of potential donors and the communities it aims to serve.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Housing Associates Of Lynn Inc legitimate?
Affordable Housing Associates Of Lynn Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Housing Associates Of Lynn Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $90,366
For more financial information, click here
What is the mission statement of Affordable Housing Associates Of Lynn Inc?
Affordable Housing Associates is a nonprofit organization dedicated to providing affordable housing solutions. Their mission is to make housing accessible for all, ensuring that everyone has a place to call home, regardless of their financial circumstances. They work tirelessly to develop and manage affordable housing units, striving to make a positive impact on their community. The organization's efforts aim to bridge the gap between housing needs and availability, promoting equality and stability for all individuals.
What is the revenue of Affordable Housing Associates Of Lynn Inc?
Affordable Housing Associates Of Lynn Inc's revenue in 2023 was $612,171.
Who are the executives of Affordable Housing Associates Of Lynn Inc and what are their salaries?
The average compensation at Affordable Housing Associates Of Lynn Inc during 2023 was $90,366. There is 1 employee at Affordable Housing Associates Of Lynn Inc.
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Where can I find the form 990 for Affordable Housing Associates Of Lynn Inc?
Affordable Housing Associates Of Lynn Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Affordable Housing Associates Of Lynn Inc
Affordable Housing Associates of Lynn is a dedicated nonprofit organization that prioritizes providing affordable housing. Their mission is straightforward and compelling; it revolves around the provision of affordable housing. This mission is not just a statement, but a commitment to address the housing needs of individuals who may be struggling financially, ensuring everyone has a roof over their heads. By focusing on affordable housing, this nonprofit organization contributes significantly to the well-being and stability of its community.
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Impact
October, 2024
Affordable Housing Associates of Lynn Inc significantly impacts the community by addressing the critical need for affordable housing in Lynn, MA. Their efforts contribute to alleviating housing insecurity, which is essential for fostering stable communities and improving overall quality of life for residents.
By developing and managing affordable housing, the organization helps ensure that low- and moderate-income families have access to safe and stable living conditions. This not only provides shelter but also promotes neighborhood revitalization and social cohesion. Furthermore, their work aids in reducing homelessness and the economic burden on families, allowing residents to invest in education, healthcare, and other essential areas of their lives.
The mission to provide affordable housing also supports local economic growth by creating job opportunities in construction, property management, and related fields. Overall, Affordable Housing Associates of Lynn Inc plays a vital role in enhancing the well-being of individuals and families, fostering a healthier, more inclusive community in Lynn.
This information is meant to be a general summary of Affordable Housing Associates Of Lynn Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $7,209
- Gross Receipts: $1,186,981
Assets and Liabilities:
- Total Assets: $3,818,642
- Total Liabilities: $1,833,464
- Net Assets: $1,985,178
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Organization Details
Principal Officer
Robert Ferrari
NTEE Category
Code: L20 - Housing
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