Overview
What is Ahepa 110-Ii Inc?
Ahepa 110-Ii Inc is a nonprofit organization established with a mission to construct, own, and manage an affordable housing apartment community, specifically catering to the needs of elderly individuals with low income. Their primary objective is to provide affordable housing options for this demographic, aiming to enhance their quality of life. The organization's activities are centered around this mission, as stated in their incorporation documents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82%, Three-Star out of Four Stars
Ahepa 110-Ii Inc has earned a solid Three-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scores 82% overall, indicating a reliable commitment to financial integrity and transparency. This rating is primarily based on its accountability metrics, which are crucial for donor trust and organizational sustainability.
One of the notable strengths of Ahepa 110-Ii Inc is its governance structure, featuring a completely independent board with 12 members, ensuring unbiased decision-making. The organization excels in financial oversight, with no reported material diversion of assets and a favorable liabilities to assets ratio of just 2.96%. Its program expense ratio is impressive at 92.29%, suggesting that a significant portion of its resources directly supports its mission-related activities.
While the organization demonstrates strong accountability, the rating is based solely on financial metrics, which does not provide a comprehensive view of its overall effectiveness or impact. However, the transparency shown in documenting board meeting minutes and maintaining an Audit and Oversight Committee further enhances its credibility as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Ahepa 110-Ii Inc legitimate?
Ahepa 110-Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 110-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.
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What is the mission statement of Ahepa 110-Ii Inc?
Ahepa 110-Ii Inc was established with the mission to construct, manage, and operate an affordable housing apartment community. This community is specifically designed to cater to the needs of low-income elderly individuals, providing them with a suitable living space. The corporation's goal is to make housing more accessible and affordable for this demographic, ensuring they can maintain a comfortable lifestyle.
Who is the CEO of Ahepa 110-Ii Inc?
John Grossomanides is the President of Ahepa 110-Ii Inc.
What is the revenue of Ahepa 110-Ii Inc?
Ahepa 110-Ii Inc's revenue in 2022 was $475,210.
Who are the executives of Ahepa 110-Ii Inc and what are their salaries?
There 12 volunteers at Ahepa 110-Ii Inc.
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Where can I find the form 990 for Ahepa 110-Ii Inc?
Ahepa 110-Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ahepa 110-Ii Inc
Ahepa 110-Ii Inc, a nonprofit organization, was established with a mission to construct, own, and operate an affordable housing apartment community. This mission extends to providing housing for the elderly with low income, ensuring that they have a suitable living space. The corporation's goal is to make a significant impact on the community by offering affordable housing options for this vulnerable population.
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Impact
July, 2024
Ahepa 110-II Inc's impact lies in its dedication to providing affordable housing for low-income elderly individuals in Norwich, CT. By constructing, owning, and operating an affordable housing apartment community, this organization addresses a critical need within the community. Their mission to offer housing options for the elderly on limited incomes not only improves their quality of life but also contributes to the overall welfare of the local population. Through their focused efforts on affordable housing, Ahepa 110-II Inc positively impacts the lives of vulnerable individuals and helps promote a more inclusive and supportive community environment.
This information is meant to be a general summary of Ahepa 110-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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $75
- Program Service Revenue: $469,669
- Gross Receipts: $475,210
Assets and Liabilities:
- Total Assets: $2,037,720
- Total Liabilities: $40,497
- Net Assets: $1,997,223
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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
$277,159
RENTAL INCOME
Revenue
$192,510
Organization Details
Founding Year
1996
Phone
(860) 887-5480Principal Officer
John Grossomanides
Main Address
380 HAMILTON AVENUE, NORWICH, CT, 06360
NTEE Category
Code: L80 - Housing
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