Overview
What is American Housing Foundation Inc?
American Housing Foundation Inc, located in Troy, New York, is a nonprofit organization renowned for its commitment to providing affordable senior housing. The foundation, with its headquarters at 297 River Street 205, manages three senior housing projects comprising a total of 282 apartment units. These residences are leased to low-to-moderate income seniors, and the organization's initiatives are supported by funding from the New York State Housing Trust Fund Corporation and tax-exempt bond financing. The mission of American Housing Foundation Inc is centered around the development, ownership, and operation of these senior housing facilities, aiming to contribute positively to the lives of its elderly residents.
Official website here: www.ahfinc.net/
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The American Housing Foundation Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating that the organization has areas needing improvement, particularly in accountability and financial transparency. The overall score of 69% reflects strong performance in certain areas, such as having a fully independent board and no material diversion of assets. However, the absence of essential policies like a conflict of interest policy, whistleblower policy, and document retention policy significantly impacts its overall accountability score.
While the organization excels in financial management, demonstrated by a high program expense ratio of 91.01%, it faces challenges with its liabilities to assets ratio, which stands at 95.76%. This high ratio suggests potential financial vulnerability, limiting the organization's capacity for future growth and sustainability.
Overall, while the American Housing Foundation demonstrates a commitment to its mission through effective program expenditure, the lack of governance policies and high liabilities indicate that stakeholders should proceed with caution and advocate for improvements in these critical areas.
This AI summary has been generated from information found on Charity Navigator.
Is American Housing Foundation Inc legitimate?
American Housing Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. American Housing Foundation 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.
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Official website here: www.ahfinc.net/
What is the mission statement of American Housing Foundation Inc?
American Housing Foundation Inc's mission is centered around the development and operation of affordable senior housing. They have successfully achieved this by creating and managing three senior housing projects, providing homes for low-to-moderate income seniors. Their work is funded primarily by the New York State Housing Trust Fund Corporation and tax-exempt bond financing. The organization's efforts are geared towards ensuring that elderly individuals have access to affordable housing, thereby contributing to their overall well-being.
Official website here: www.ahfinc.net/
Who is the CEO of American Housing Foundation Inc?
Garry Kearns is the Executive Direc of American Housing Foundation Inc.
Official website here: www.ahfinc.net/
What is the revenue of American Housing Foundation Inc?
American Housing Foundation Inc's revenue in 2022 was $3,006,347.
Official website here: www.ahfinc.net/
Who are the executives of American Housing Foundation Inc and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.ahfinc.net/
Where can I find the form 990 for American Housing Foundation Inc?
American Housing Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ahfinc.net/
Learn more at the official website: www.ahfinc.net/
Mission Statement of American Housing Foundation Inc
American Housing Foundation Inc is committed to a mission that involves the development, ownership, and operation of affordable senior housing. This mission is aimed at providing suitable living spaces for low-to-moderate income seniors. The organization has successfully implemented this mission by developing, owning, and leasing three senior housing projects, encompassing a total of 282 apartment units. These housing projects have been funded through various resources, including the New York State Housing Trust Fund Corporation and tax-exempt bond financing. By carrying out this mission, American Housing Foundation Inc contributes to the well-being and housing stability of senior citizens, ensuring they can age with dignity and independence.
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Impact
October, 2024
American Housing Foundation Inc significantly impacts the community by developing, owning, and operating affordable housing specifically designed for low-to-moderate income seniors. By managing three senior housing projects comprising 282 apartment units, it provides vital living spaces that enhance the quality of life for elderly residents in Troy, NY. The organization leverages funding from the NYS Housing Trust Fund Corporation and tax-exempt bond financing, ensuring that affordable housing remains accessible to those who need it most. This initiative not only addresses the pressing need for affordable senior housing but also fosters a sense of community and security among its residents, helping to improve the overall well-being of the senior population in the area.
This information is meant to be a general summary of American Housing Foundation 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: $25,111
- Program Service Revenue: $3,001,317
- Gross Receipts: $3,006,347
Assets and Liabilities:
- Total Assets: $16,589,318
- Total Liabilities: $16,157,710
- Net Assets: $431,608
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Administrative/Management
Revenue
$18,000
Rental Inc-Elderly Hsg
Revenue
$2,983,317
Organization Details
Phone
(518) 279-3810Principal Officer
Garry Kearns
Main Address
297 River Street 205, Troy, NY, 12180
Website
www.ahfinc.net/NTEE Category
Code: L220 - Housing
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