Overview
What is Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff?
Foundation for Affordable Rental Housing Holdings Inc, formerly known as Farh-Lamplighter Aff, is a nonprofit organization dedicated to providing affordable housing solutions for individuals requiring public assistance. With two multifamily complexes, The Park at Fallbrook in Houston, Texas, and Gladden Farms Apartment Complex in Plainfield, Indiana, they offer a vital service to those in need. This mission-driven organization is committed to making a difference in people's lives by ensuring they have access to safe and affordable housing.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning a Two-Star out of Four Star rating.
Foundation For Affordable Rental Housing Holdings Inc has received a Two-Star rating from Charity Navigator, indicating some concerns regarding its financial health. While the organization displays strengths in governance, such as having a fully independent board and transparency in board meeting documentation, it faces significant challenges reflected in its liabilities to assets ratio, which is quite high at 96.14%. This raises questions about the organization's long-term financial sustainability.
On a positive note, the foundation excels in program expenses, directing 100% of its expenses towards its mission. Its accountability and finance score of 67 suggests some room for improvement in financial management practices. The organization has a solid governance framework with strong oversight mechanisms, which is crucial for maintaining donor trust and operational integrity.
Despite these strengths, potential donors and stakeholders should be aware of the financial risks associated with the organization's high liabilities. Addressing these financial challenges will be essential for the foundation to improve its overall rating and better fulfill its mission in providing affordable rental housing.
This AI summary has been generated from information found on Charity Navigator.
Is Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff legitimate?
Foundation For Affordable Rental Housing Holdings Inc F/K/A Farh-Lamplighter Aff is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundation For Affordable Rental Housing Holdings Inc F/K/A Farh-Lamplighter Aff 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 Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff?
Foundation for Affordable Rental Housing Holdings is a dedicated organization committed to making a difference in the lives of those in need. Through its mission-driven approach, the organization provides affordable housing solutions for individuals requiring public housing assistance. Spanning across two multifaceted complexes, The Park at Fallbrook in Houston, TX, and Gladden Farms Apartment Complex in Plainfield, IN, the organization offers shelter and a sense of community for its residents. By prioritizing affordable housing, the organization contributes significantly to improving living conditions and promoting self-sufficiency.
Who is the CEO of Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff?
James O'Connell is the Director of Foundation For Affordable Rental Housing Holdings Inc F/K/A Farh-Lamplighter Aff.
What is the revenue of Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff?
Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff's revenue in 2022 was $113,440,418.
Who are the executives of Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff?
Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff
Foundation for Affordable Rental Housing Holdings, a mission-driven organization, is dedicated to providing low income housing for individuals in need of public housing assistance. Through their efforts, two multifamily complexes have been established to accommodate those seeking affordable housing solutions.
At The Park at Fallbrook in Houston, Texas, and Gladden Farms Apartment Complex in Plainfield, Indiana, Foundation for Affordable Rental Housing Holdings offers more than just a place to live. These communities serve as vital resources for individuals and families in need, providing them with a stable and secure living environment.
Foundation for Affordable Rental Housing Holdings is committed to making a positive impact on the lives of its residents. By offering affordable housing options, the organization plays a crucial role in helping individuals and families focus on their personal growth, rather than the burden of finding and maintaining a safe and affordable place to call home. This focus on stability allows residents to invest in their education, employment, and overall well-being, ultimately contributing to stronger, healthier communities.
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Impact
October, 2024
Foundation For Affordable Rental Housing Holdings Inc (formerly known as Farh-Lamplighter Aff) plays a significant role in addressing the housing needs of low-income individuals and families. By operating two multifamily complexes—The Park at Fallbrook in Houston, TX, and Gladden Farms Apartment Complex in Plainfield, IN—this organization provides essential access to affordable housing for those requiring public assistance.
This impact is particularly crucial in urban areas where the demand for affordable housing often exceeds supply. By creating and maintaining these living spaces, the foundation not only helps individuals secure stable housing but also contributes to the overall stability of communities. Access to safe, affordable rental options allows residents to focus on other aspects of their lives, such as employment, education, and healthcare, fostering a cycle of improvement and opportunity.
Through its mission, the organization actively participates in alleviating the housing crisis and supports social equity by ensuring that those in need have a place to call home, ultimately enhancing the quality of life for residents in the communities it serves.
This information is meant to be a general summary of Foundation For Affordable Rental Housing Holdings Inc FKA Farh-Lamplighter Aff. 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: $2,108,952
- Program Service Revenue: $105,331,142
- Gross Receipts: $124,692,293
Assets and Liabilities:
- Total Assets: $1,089,223,731
- Total Liabilities: $1,047,271,914
- Net Assets: $41,951,817
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$102,329,052
ANCILLARY INCOME
Revenue
$3,002,090
Organization Details
Founding Year
2005
Phone
(770) 433-1711Principal Officer
James O'Connell
Main Address
3330 CUMBERLAND BLVD SUITE 1000, ATLANTA, GA, 30339
NTEE Category
Code: L21 - Housing
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