Overview
What is Ahepa 245 Inc?
Ahepa 245 Inc is a nonprofit organization dedicated to addressing the housing needs of elderly individuals with limited income. Established with the mission to construct, own, and manage an affordable housing apartment community, their primary focus is on providing a living space for the elderly who are financially disadvantaged. This initiative aims to alleviate housing hardships for this specific demographic, ensuring they can live comfortably and with dignity.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (Needs Improvement, 71%)
Ahepa 245 Inc has received a two-star rating from Charity Navigator, indicating that while the organization demonstrates strong accountability and finance practices, there are significant areas requiring improvement. Notably, the organization scored a perfect 100% in accountability and finance, with a high program expense ratio of 92.91%, showing that a substantial portion of their funds is directed towards programs rather than administrative costs.
However, the overall rating reflects concerns regarding certain governance practices. The organization has not implemented crucial policies, such as a conflict of interest and whistleblower policy, which may raise questions about its operational transparency and risk management. Additionally, the liabilities to assets ratio is concerning at 161.88%, indicating potential financial instability.
Despite these challenges, Ahepa 245 Inc maintains a fully independent board, which is commendable and enhances its accountability. The lack of a website listed on their tax form and missing financial documents on their site may hinder public access to important information. Addressing these limitations could significantly improve their ratings and public trust in the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Ahepa 245 Inc legitimate?
Ahepa 245 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 245 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
What is the mission statement of Ahepa 245 Inc?
Ahepa 245 Inc was established with the objective of constructing, owning, and managing an affordable housing apartment community. Its primary mission is to cater to the housing needs of the elderly population with low income. The corporation aims to provide a suitable living space for this demographic, ensuring they have access to affordable housing options. This initiative contributes to enhancing the living standards of elderly individuals who may face financial constraints. The focus on affordable housing is a vital step towards ensuring that everyone, regardless of income level, has access to decent living conditions.
Who is the CEO of Ahepa 245 Inc?
Michael Sisak is the President of Ahepa 245 Inc.
What is the revenue of Ahepa 245 Inc?
Ahepa 245 Inc's revenue in 2022 was $621,668.
Who are the executives of Ahepa 245 Inc and what are their salaries?
There 6 volunteers at Ahepa 245 Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Ahepa 245 Inc?
Ahepa 245 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ahepa 245 Inc
Ahepa 245 Inc, as a corporation, was established with a mission to construct, own, and manage an affordable housing apartment community. This mission is geared towards providing housing options for individuals with low income, specifically the elderly. The organization aims to cater to this demographic, ensuring they have access to decent and affordable living spaces. By constructing and managing such a community, Ahepa 245 Inc seeks to make a significant contribution to the housing needs of a vulnerable population, enabling them to live with dignity and independence.
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Impact
July, 2024
Ahepa 245 Inc's impact lies in providing a vital service to the community by constructing, owning, and operating an affordable housing apartment community. Specifically, the organization focuses on offering low-income elderly individuals a place to live, fulfilling a critical need for affordable housing for this demographic. Through its mission of ensuring elderly low-income housing is available, Ahepa 245 Inc positively impacts the lives of these individuals in Newport, RI, by providing them with a safe and affordable place to call home.
This information is meant to be a general summary of Ahepa 245 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: $31
- Program Service Revenue: $616,757
- Gross Receipts: $621,668
Assets and Liabilities:
- Total Assets: $1,280,624
- Total Liabilities: $2,080,279
- Net Assets: -$799,655
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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
$468,205
RENTAL INCOME
Revenue
$148,552
Organization Details
Founding Year
2000
Phone
(401) 849-5298Principal Officer
Michael Sisak
Main Address
87 GIRARD AVENUE, NEWPORT, RI, 02840
NTEE Category
Code: L22Z - Housing
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