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Ahepa 245-Ii Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 223348871 ✦ Newport, RI ✦ Designated as a 501(c)(3)

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Overview

What is Ahepa 245-Ii Inc?

Ahepa 245-II Inc is a nonprofit organization that was established with a mission to construct, manage, and operate an affordable housing apartment community, specifically catering to the needs of low-income elderly individuals. Their primary objective is to provide a suitable living environment for this demographic, ensuring affordability and accessibility.

What are the reviews and ratings of this charity?

Charity Navigator Rating: 82% (Three-Star out of Four Star rating)

Ahepa 245-Ii Inc received a solid Three-Star rating from Charity Navigator, reflecting an overall score of 82%. This rating primarily comes from its Accountability & Finance score, indicating a strong commitment to financial transparency and responsible management. The charity excels particularly in board independence and oversight, achieving a perfect score for having an entirely independent board and effectively documenting board meeting minutes.

The organization demonstrates a commendable program expense ratio of over 90%, which signifies that a significant portion of its funds is directed towards its programs rather than administrative costs. Additionally, it has no recorded material diversion of assets, reinforcing its reputation for integrity and sound financial practices. The liabilities to assets ratio stands at a manageable 15.25%, suggesting that the organization is in a strong financial position relative to its obligations.

While the rating is favorable, the organization could enhance its score by focusing on expanding its operational impact and transparency in other areas. Overall, Ahepa 245-Ii Inc showcases strong accountability and financial health, making it a reliable choice for potential donors and supporters.


This AI summary has been generated from information found on Charity Navigator.

Is Ahepa 245-Ii Inc legitimate?

Ahepa 245-Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 245-Ii 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-Ii Inc?

Ahepa 245-Ii Inc was established with the mission to construct, manage, and operate an affordable housing apartment community. Its primary goal is to cater to the housing needs of the elderly population with low income. By doing so, the corporation aims to contribute to the provision of affordable living spaces for this specific demographic. Its mission reflects a commitment to addressing housing inequality and ensuring that the elderly have access to suitable living conditions.

Who is the CEO of Ahepa 245-Ii Inc?

Michael Sisak is the President of Ahepa 245-Ii Inc.

What is the revenue of Ahepa 245-Ii Inc?

Ahepa 245-Ii Inc's revenue in 2022 was $515,969.

Who are the executives of Ahepa 245-Ii Inc and what are their salaries?

There 6 volunteers at Ahepa 245-Ii Inc.


Here are 6 key members and their salaries:


Michael Sisak (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ernest M Voilet (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Basile Panoutsopoulos (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Christopher Christopher (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Demetrios Georgiou (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Norman Moreau (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Ahepa 245-Ii Inc?

Ahepa 245-Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Ahepa 245-Ii Inc

Ahepa 245-II Inc was established with a mission to construct, maintain, and manage an affordable housing apartment complex. This nonprofit organization is dedicated to providing low-income housing opportunities for the elderly community. By offering affordable housing, Ahepa 245-II Inc aims to contribute to the well-being of this specific demographic, providing them with a secure living environment. The organization's mission is centered around the belief that everyone deserves a decent place to live, regardless of their income level.

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Impact




July, 2024

Ahepa 245-II Inc's impact lies in providing affordable housing solutions for low-income elderly individuals in Newport, Rhode Island. By constructing, owning, and operating an affordable housing apartment community, Ahepa 245-II Inc plays a crucial role in addressing the housing needs of the elderly population in the area. This organization's mission to provide affordable housing aligns with the broader goal of ensuring that vulnerable individuals have access to safe and stable living environments. Through their dedicated efforts, Ahepa 245-II Inc positively impacts the lives of elderly individuals in need of low-income housing options.




This information is meant to be a general summary of Ahepa 245-Ii 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.

Revenue
$515,969 (2022)
Expenses
$616,680 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $16
  • Program Service Revenue: $515,755
  • Gross Receipts: $515,969

Assets and Liabilities:

  • Total Assets: $1,547,996
  • Total Liabilities: $163,696
  • Net Assets: $1,384,300

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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

$351,350

RENTAL INCOME

Revenue

$164,405

Organization Details

Founding Year

2000

Principal Officer

Michael Sisak

Main Address

87 GIRARD ROAD, NEWPORT, RI, 02840

NTEE Category

Code: L22 - Housing

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