Overview
What is Ahepa 110 Inc?
Ahepa 110 Inc is a nonprofit organization dedicated to addressing the housing needs of the elderly with limited income. Established with the purpose of constructing, owning, and operating an affordable housing apartment community, its primary mission is to provide suitable living accommodations for this population segment. The corporation aims to fulfill this mission by offering low income elderly housing, ensuring that these individuals have a secure and comfortable living space.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement - 67% (Two-Star out of Four Star rating)
Ahepa 110 Inc has received a Two-Star rating from Charity Navigator, indicating areas in need of improvement, particularly regarding its accountability and finance practices. The organization has a solid program expense ratio of 92.77%, showing that a significant portion of its expenditures is directed toward its mission. Additionally, it boasts a fully independent board, ensuring that governance is free from conflicts of interest.
However, the nonprofit has several shortcomings that affect its overall score. Key policies such as conflict of interest, whistleblower, and document retention are missing, which could raise concerns about transparency and governance practices. Furthermore, the organization has a high liabilities to assets ratio, which may indicate financial instability and could be a potential risk for future operations.
Overall, while Ahepa 110 Inc demonstrates strong program focus and governance independence, it must address its missing policies and financial management issues to improve its standing and operations in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Ahepa 110 Inc legitimate?
Ahepa 110 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 110 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:
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What is the mission statement of Ahepa 110 Inc?
Ahepa 110 Inc, as established, has a mission to construct, manage, and operate an affordable housing apartment community. This initiative is primarily aimed at catering to the needs of the elderly population with low income. The corporation's goal is to provide a comfortable living space for this demographic, ensuring they have access to affordable housing options.
Who is the CEO of Ahepa 110 Inc?
John Grossomanides is the President of Ahepa 110 Inc.
What is the revenue of Ahepa 110 Inc?
Ahepa 110 Inc's revenue in 2022 was $612,273.
Who are the executives of Ahepa 110 Inc and what are their salaries?
There 12 volunteers at Ahepa 110 Inc.
Here are 12 key members and their salaries:
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Where can I find the form 990 for Ahepa 110 Inc?
Ahepa 110 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ahepa 110 Inc
Ahepa 110 Inc, a nonprofit organization, was established with a mission to construct, own, and manage an affordable housing apartment community. The primary focus of this corporation is to provide housing for individuals with low income, specifically the elderly. By offering such accommodations, Ahepa 110 Inc aims to make housing more accessible and affordable for a segment of the population that may otherwise struggle to secure adequate housing. This mission reflects the organization's commitment to addressing housing inequality and ensuring that elderly individuals can live with dignity and comfort.
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Impact
July, 2024
Ahepa 110 Inc's impact can be seen in the provision of affordable housing for low-income elderly individuals in Norwich, CT. By constructing, owning, and operating an affordable housing apartment community, they are addressing a critical need in the community. This initiative not only provides a safe and stable living environment for the elderly but also contributes to overall community well-being by promoting affordable housing options. Ahepa 110 Inc's focus on housing demonstrates their commitment to supporting vulnerable populations and enhancing quality of life for elderly individuals with limited financial resources.
This information is meant to be a general summary of Ahepa 110 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 2022.
- Investment Income: $328
- Program Service Revenue: $610,371
- Gross Receipts: $612,273
Assets and Liabilities:
- Total Assets: $1,419,019
- Total Liabilities: $2,540,584
- Net Assets: -$1,121,565
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT ASSISTANCE HUD
Revenue
$424,292
RENTAL INCOME
Revenue
$186,079
Organization Details
Founding Year
1986
Phone
(860) 823-1131Principal Officer
John Grossomanides
Main Address
110 PUKALLUS AVE, NORWICH, CT, 06360
NTEE Category
Code: L21Z - Housing
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