Overview
What is Asian-American Housing Development Fund Company Inc?
Asian-American Housing Development Fund Company Inc, based in New York, New York, is a dedicated nonprofit organization. Their primary mission is to acquire, preserve, and operate affordable rental housing for families with low to median incomes. They currently manage 14 such buildings within the city. By providing affordable housing, the organization contributes significantly to the community, ensuring that a diverse range of families can maintain a stable living environment.
Official website here: www.aafe,org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Asian-American Housing Development Fund Company Inc has received a two-star rating from Charity Navigator, indicating that there are significant areas for improvement in its operations. With an overall score of 69%, the organization demonstrates strengths in financial oversight, as evidenced by high scores in areas such as audit and oversight committee performance and adherence to conflict of interest policies. However, the lack of independent board members and the size of the independent board raise concerns regarding governance.
Despite strong program expense ratios, showcasing that a substantial portion of funds goes directly to programs, the nonprofit struggles with a high liabilities to assets ratio, which suggests potential financial risk. The organization’s transparency is also called into question due to the absence of its tax form on its website, which could hinder public trust and accountability.
The organization has implemented several positive policies, including whistleblower and document retention policies, which reflect a commitment to ethical operations. However, addressing governance and transparency issues will be crucial for the organization to improve its rating and public perception in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Asian-American Housing Development Fund Company Inc legitimate?
Asian-American Housing Development Fund Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Asian-American Housing Development Fund Company 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: $0
For more financial information, click here
Official website here: www.aafe,org
What is the mission statement of Asian-American Housing Development Fund Company Inc?
The Asian-American Housing Development Fund Company Inc's mission revolves around acquiring, preserving, and operating affordable rental housing for families with low to median incomes. This organization is committed to providing a residence solution for these families, ensuring they have access to housing within their financial means. In essence, their mission is to make affordable housing a reality for these income groups. They oversee 14 low-income housing buildings, demonstrating their dedication to this cause.
Official website here: www.aafe,org
Who is the CEO of Asian-American Housing Development Fund Company Inc?
Thomas Yu is the Co-Executive Director (Outgoing) of Asian-American Housing Development Fund Company Inc.
Official website here: www.aafe,org
What is the revenue of Asian-American Housing Development Fund Company Inc?
Asian-American Housing Development Fund Company Inc's revenue in 2022 was $2,173,519.
Official website here: www.aafe,org
Who are the executives of Asian-American Housing Development Fund Company Inc and what are their salaries?
There 2 volunteers at Asian-American Housing Development Fund Company Inc.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $160,060
- Other: $40,689
- Compensation: $0
- Related: $268,717
- Other: $53,087
- Compensation: $0
- Related: $163,579
- Other: $13,682
- Compensation: $0
- Related: $142,982
- Other: $43,741
- Compensation: $0
- Related: $63,838
- Other: $1,921
- Compensation: $0
- Related: $96,262
- Other: $10,776
Official website here: www.aafe,org
Where can I find the form 990 for Asian-American Housing Development Fund Company Inc?
Asian-American Housing Development Fund Company Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aafe,org
Learn more at the official website: www.aafe,org
Mission Statement of Asian-American Housing Development Fund Company Inc
Asian-American Housing Development Fund Company Inc, a nonprofit organization, is committed to acquiring, preserving, and operating affordable rental housing for families with low to medium income. Their mission is to ensure that these families have access to secure and affordable living spaces. By undertaking this mission, the organization aims to make a significant contribution towards addressing housing inequality and improving the living standards of vulnerable communities. The company operates a range of low-income housing buildings, providing a much-needed solution to the housing needs of these families. By preserving and operating these properties, the Asian-American Housing Development Fund Company Inc is not only providing a roof over the heads of these families but also ensuring that they can continue to reside in their communities, maintaining stable living environments.
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Impact
August, 2024
The Asian-American Housing Development Fund Company Inc has a significant impact on the community by acquiring, preserving, and operating affordable rental housing for low to median income families. They currently operate 14 low-income housing buildings in New York, New York. Through their mission to provide affordable housing, they contribute to addressing the housing needs of individuals and families in need, ultimately helping to create more stable and secure living environments for those in the community. Their work directly impacts the quality of life for low to median income families in New York City by offering safe and affordable housing options.
This information is meant to be a general summary of Asian-American Housing Development Fund Company 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: $53,396
- Program Service Revenue: $2,086,973
- Gross Receipts: $2,173,519
Assets and Liabilities:
- Total Assets: $14,073,985
- Total Liabilities: $9,366,665
- Net Assets: $4,707,320
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,086,973
Organization Details
Founding Year
1986
Phone
(212) 477-2265Principal Officer
Thomas Yu
Main Address
141 NORFOLK ST, NEW YORK, NY, 10002
Website
www.aafe,orgNTEE Category
Code: L20 - Housing
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