Overview
What is Homeownership Affordability Trust Fund?
The Homeownership Affordability Trust Fund is a nonprofit entity based in Providence, Rhode Island, specifically at 44 Washington Street. Its primary mission is to preserve affordable housing within the state. To achieve this goal, the Trust Fund generates revenue through trust receipts and interest on loans and program investments. The funds collected are utilized to maintain affordable housing options for residents of Rhode Island.
Official website here: www.rihousing.com
Is Homeownership Affordability Trust Fund legitimate?
Homeownership Affordability Trust Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homeownership Affordability Trust Fund 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.rihousing.com
What is the mission statement of Homeownership Affordability Trust Fund?
The Homeownership Affordability Trust Fund's mission is centered around preserving affordable housing in its entirety. This objective is achieved through the utilization of trust receipts, interest generated from loans, and investments in relevant programs. The primary goal is to maintain the availability of affordable housing options, thereby contributing to a more equitable housing market.
Official website here: www.rihousing.com
Who is the CEO of Homeownership Affordability Trust Fund?
Kara Lachapelle is the Cfo of Homeownership Affordability Trust Fund.
Official website here: www.rihousing.com
What is the revenue of Homeownership Affordability Trust Fund?
Homeownership Affordability Trust Fund's revenue in 2022 was $1,978,717.
Official website here: www.rihousing.com
Who are the executives of Homeownership Affordability Trust Fund and what are their salaries?
There 1 volunteer at Homeownership Affordability Trust Fund.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $180,465
- Other: $26,638
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $215,751
- Other: $39,447
Official website here: www.rihousing.com
Where can I find the form 990 for Homeownership Affordability Trust Fund?
Homeownership Affordability Trust Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.rihousing.com
Learn more at the official website: www.rihousing.com
Mission Statement of Homeownership Affordability Trust Fund
The Homeownership Affordability Trust Fund is dedicated to preserving affordable housing within the state of Rhode Island. This mission is achieved through various means, primarily by generating revenue from trust receipts and the interest on loans and program investments. By doing so, the Trust Fund aims to ensure that affordable housing remains a viable option for individuals and families in Rhode Island, safeguarding their ability to secure a place to live that fits within their financial means.
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Impact
October, 2024
The Homeownership Affordability Trust Fund has a significant impact on the preservation of affordable housing in Rhode Island, particularly in the city of Providence. By utilizing trust receipts and generating interest on loans and program investments, the Fund provides essential financial resources that support various initiatives aimed at maintaining and enhancing affordable housing stock.
This initiative plays a crucial role in combating housing insecurity and ensuring that low- to moderate-income families have access to stable housing options. The funding helps to renovate and maintain properties, which not only improves living conditions for occupants but also helps to stabilize neighborhoods and prevent blight. Additionally, by focusing resources on affordable housing preservation, the Trust Fund supports long-term housing solutions that contribute to economic stability and community resilience in the region.
Overall, the Homeownership Affordability Trust Fund serves as a vital mechanism in the ongoing efforts to sustain affordable housing opportunities and promote equitable living conditions for all residents in Rhode Island.
This information is meant to be a general summary of Homeownership Affordability Trust Fund. 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: $1,067,887
- Program Service Revenue: $910,830
- Gross Receipts: $1,978,717
Assets and Liabilities:
- Total Assets: $111,238,696
- Total Liabilities: $45,955
- Net Assets: $111,192,741
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARTICIPATING MORTGAGO
Revenue
$910,830
Organization Details
Founding Year
1988
Phone
(401) 457-1234Principal Officer
Kara Lachapelle
Main Address
44 WASHINGTON STREET, PROVIDENCE, RI, 02903
Website
www.rihousing.comNTEE Category
Code: L500 - Housing
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