Overview
What is Affordable Housing Management Inc?
Affordable Housing Management Inc, based in Greensboro, North Carolina, is a dedicated nonprofit organization that specializes in managing and developing affordable rental housing for low to moderate income households. Over the years, they have assisted 523 housing units through properties they own and manage. To further support their residents, they established the Resident Education and Enrichment Fund (REEF), providing educational scholarships worth $60,522 to help residents advance their education and careers. Additionally, they run a Youth Education Summer Scholarship Program (YESS) to enable children living in their managed apartments to attend summer camps. The organization's commitment to sustainable living is evident with all new construction developments receiving Green Building Standard and Energy Star certifications since 2011. In recognition of their excellent work, they have been awarded accolades for their affordable housing initiatives. Currently, they are working on several developments, such as Redhill Pointe and Windhill Development, to provide affordable housing for those earning below the median area income.
Official website here: www.ahmi.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 93%, Four-Star out of Four Star rating.
Affordable Housing Management Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization excels in key areas such as having a fully independent board and rigorous financial oversight. With a high program expense ratio of 82.86%, the organization demonstrates a commitment to utilizing the majority of its funds towards its mission rather than administrative costs.
The organization has scored exceptionally well in multiple criteria, including its conflict of interest and whistleblower policies, indicating a robust governance structure and transparency. Its material diversion of assets score is perfect, showing that the charity is handling its resources responsibly. Additionally, the financial statements are well-audited and overseen, providing a solid foundation for stakeholder confidence.
While the organization has a solid financial standing, with a liabilities to assets ratio of 54.32%, there is always room for improvement in maintaining fiscal health. Overall, Affordable Housing Management Inc stands out as a responsible and effective nonprofit in the affordable housing sector, commendable for its accountability practices.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Housing Management Inc legitimate?
Affordable Housing Management Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Housing Management 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: $729,894
For more financial information, click here
Official website here: www.ahmi.org
What is the mission statement of Affordable Housing Management Inc?
Affordable Housing Management Inc's primary mission is centered around the management and development of affordable rental housing for low to moderate income households. The organization provides technical, managerial, and educational assistance to such housing developments. During the year 2023, they aided 523 housing units through properties they owned and managed. The organization also offers educational resources to help residents further their education and career advancement through their Resident Education and Enrichment Fund (REEF). Furthermore, they provide summer scholarships for children residing in their managed apartments. Affordable Housing Management Inc has been recognized for its contributions to affordable housing, receiving multiple awards for its developments in the permanent supportive housing category.
Official website here: www.ahmi.org
Who is the CEO of Affordable Housing Management Inc?
David Levy is the President of Affordable Housing Management Inc.
Official website here: www.ahmi.org
What is the revenue of Affordable Housing Management Inc?
Affordable Housing Management Inc's revenue in 2023 was $2,347,714.
Official website here: www.ahmi.org
Who are the executives of Affordable Housing Management Inc and what are their salaries?
The average compensation at Affordable Housing Management Inc during 2023 was $27,033. There are 27 employees at Affordable Housing Management Inc.
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- Compensation: $174,384
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Official website here: www.ahmi.org
Where can I find the form 990 for Affordable Housing Management Inc?
Affordable Housing Management Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ahmi.org
Learn more at the official website: www.ahmi.org
Mission Statement of Affordable Housing Management Inc
Affordable Housing Management Inc, a nonprofit organization, is dedicated to managing and developing affordable rental housing for low to moderate income households. Their mission is multifaceted, encompassing both the technical and managerial aspects of affordable housing developments, as well as providing educational assistance. The organization has demonstrated its commitment to this mission by offering services to 523 housing units and providing scholarships through their Resident Education and Enrichment Fund (REEF) to help residents further their education and career advancement. Additionally, Affordable Housing Management Inc has initiated youth education scholarship programs to support children living in their managed apartments.
The organization's dedication to affordable housing extends beyond just managing properties. They have received numerous awards for their outstanding work in this field, including two North Carolina Housing Finance Agency Awards for Excellence in Affordable Housing. These awards recognized their major rehabilitation projects, Village Crossing and Hope Court, which provided housing for vulnerable populations, such as the formerly homeless and disabled. Affordable Housing Management Inc has also completed several new construction developments, including Muirs Landing and Redhill Pointe, which offer housing options for households earning different income levels.
In summary, Affordable Housing Management Inc is a nonprofit organization that is committed to providing affordable rental housing for low to moderate income households. They offer a variety of services, including technical and managerial assistance, educational scholarships, and youth education programs. Their dedication to this mission has been recognized with multiple awards for their outstanding work in affordable housing developments.
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Impact
October, 2024
Affordable Housing Management Inc. significantly impacts the Greater Greensboro area by addressing the critical need for affordable rental housing for low to moderate-income households. Their comprehensive approach encompasses the management and development of various housing projects, providing not just shelter but also creating supportive communities.
In the fiscal year ending June 30, 2023, the organization managed and provided services to 523 housing units, contributing to a stable living environment for numerous families and individuals. Their commitment to education and skill development is exemplified by the Resident Education and Enrichment Fund (REEF), which has awarded 101 scholarships totaling over $60,000, helping residents enhance their education and career prospects. Additionally, the Youth Education Summer Scholarship Program (YESS) awarded 58 scholarships for summer camps, fostering personal growth among youth residents.
The organization’s impact is further illustrated by its recognition through multiple awards from the North Carolina Housing Finance Agency for excellence in affordable housing. Notably, their significant rehabilitation projects, such as Village Crossing and Hope Court, provide support and housing for formerly homeless and disabled individuals, emphasizing a commitment to inclusivity.
New construction developments like Muirs Landing and Redhill Pointe showcase their ability to accommodate diverse income levels, allowing households to access affordable units at different income tiers. Their ongoing projects, such as the Southwoods major rehabilitation and Windhill Development, will continue to enhance their portfolio while specifically targeting low-income residents.
Moreover, their focus on sustainability is evident as all new constructions since 2011 have received Green Building Standards and Energy Star certifications, indicating a commitment to environmentally responsible practices. This holistic approach not only addresses immediate housing needs but also supports the long-term well-being and empowerment of the community they serve.
This information is meant to be a general summary of Affordable Housing Management 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 2023.
- Investment Income: $63,114
- Program Service Revenue: $2,252,100
- Gross Receipts: $2,347,714
Assets and Liabilities:
- Total Assets: $12,547,469
- Total Liabilities: $6,815,836
- Net Assets: $5,731,633
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL - LOW INC HOUSI
Revenue
$938,428
DEVELOPER FEES
Revenue
$868,654
MANAGEMENT FEES
Revenue
$230,991
RENTAL - OTHER
Revenue
$78,484
INCENTIVE MGMT FEES
Revenue
$77,152
Organization Details
Founding Year
1970
Phone
(336) 273-0568Principal Officer
David Levy
Main Address
330 S GREENE STREET B-11, GREENSBORO, NC, 27401
Website
www.ahmi.orgNTEE Category
Code: L20Z - Housing
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