Overview
What is Affordable Homes For All?
Affordable Homes For All is a nonprofit organization based in Minneapolis, Minnesota. Their primary mission is to preserve and create high-quality, affordable housing units for various demographics, including families, individuals, the elderly, and those with disabilities. They have acquired and manage several properties, such as Winona Arms, Emerson Housing, SE Hall-Whitney Young Housing Corporation, Yorktown Continental, and Plymouth Stevens, all operating under various federal housing programs. The organization is actively involved in maintaining and operating these properties, ensuring they offer safe and comfortable living spaces.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star Rating)
Affordable Homes For All has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and financial transparency. The organization scored an impressive 94% in its overall assessment, which focuses entirely on its Accountability & Finance metrics. This high score indicates that the charity effectively manages its resources and upholds financial integrity.
The organization demonstrates a solid governance structure, with a board composed entirely of independent members, ensuring unbiased decision-making. Furthermore, it has implemented robust policies, including those for conflict of interest and whistleblowing, underscoring its dedication to ethical practices. Additionally, the charity maintains a favorable liabilities-to-assets ratio of 0.00%, indicating a healthy financial position.
One notable strength is the high program expense ratio of 91.50%, which suggests that a significant majority of its funds are directed toward fulfilling its mission of providing affordable housing. Overall, while the organization appears to operate efficiently and responsibly, there are no specific limitations mentioned in the data that could detract from its positive standing.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Homes For All legitimate?
Affordable Homes For All is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Homes For All 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
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What is the mission statement of Affordable Homes For All?
Affordable Homes For All is dedicated to preserving and building affordable housing options for various groups, including families, individuals, the elderly, and those with disabilities. The organization's mission is to develop, operate, and maintain high-quality affordable housing units, responding to the growing need for such housing. As part of its activities, Affordable Homes For All has acquired and manages several properties under different regulatory programs, such as HUD Section 202, Section 8, and the Low Income Housing Tax Credit Program. The organization's goal is to provide affordable housing solutions to support vulnerable populations.
Who is the CEO of Affordable Homes For All?
Joseph L Holmberg is the Chair of Affordable Homes For All.
What is the revenue of Affordable Homes For All?
Affordable Homes For All's revenue in 2023 was $886,079.
Who are the executives of Affordable Homes For All and what are their salaries?
There 5 volunteers at Affordable Homes For All.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Affordable Homes For All?
Affordable Homes For All's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Affordable Homes For All
Affordable Homes For All is an organization dedicated to addressing the growing need for affordable housing for various populations, including families, individuals, the elderly, and disabled individuals. Its mission is twofold: to develop and build new affordable housing units, and to operate and maintain existing ones. The nonprofit aims to provide high-quality, affordable housing solutions, demonstrating its commitment through the management of several properties.
In 2012, Affordable Homes For All acquired Winona Arms, Inc., a 49-unit apartment building in Winona, Minnesota, which operates under HUD Section 202 and Section 8 regulations. The organization also has a general partnership interest in Emerson Housing, L.P., a 44-unit multi-family housing project in Gary, Indiana, which operates under the Low Income Housing Tax Credit Program. Additionally, Affordable Homes For All controls SE Hall-Whitney Young Housing Corporation, which manages a 45-unit apartment building for the elderly, located in Saint Paul, Minnesota.
The nonprofit's mission is evident in its extensive portfolio of properties, demonstrating its commitment to preserving and building affordable housing for all. By leveraging various funding sources, such as the Low Income Housing Tax Credit Program and HUD-insured mortgages, Affordable Homes For All delivers affordable housing solutions that cater to various income levels and housing needs.
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Impact
October, 2024
Affordable Homes For All has made a significant impact by actively preserving and building affordable housing units across various communities. Through its two core programs—developing and operating affordable housing—the organization has enhanced living conditions for numerous families, individuals, the elderly, and disabled persons.
The acquisition and management of multiple affordable housing properties have broadened access to secure and high-quality living spaces. Notably, entities like Winona Arms and Emerson Housing provide essential support through programs such as HUD Section 202 and Section 8, ensuring that low-income residents can afford housing. For instance, the 49-unit apartment building in Winona, Minnesota, and the 44-unit multifamily project in Gary, Indiana, highlight the organization's commitment to fostering inclusive communities.
In Saint Paul, the 45-unit elderly apartment complex under Section 202 showcases a focus on vulnerable populations, offering stable living solutions. Similarly, with properties like Yorktown Continental and Plymouth Stevens, Affordable Homes For All actively contributes to housing solutions in larger cities, making a substantial difference in local housing markets.
Additionally, the organization’s involvement with mixed-use developments, such as Winnipeg Apartments, reflects a forward-thinking approach by combining residential and commercial spaces, stimulating economic growth while addressing housing needs. Overall, Affordable Homes For All plays a crucial role in alleviating housing insecurity and promoting affordable living across the region.
This information is meant to be a general summary of Affordable Homes For All. 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.
- Program Service Revenue: $886,079
- Gross Receipts: $886,079
Assets and Liabilities:
- Total Assets: $29,497,538
- Total Liabilities: $0
- Net Assets: $29,497,538
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$840,124
DEVELOPMENT/ADMIN FEES
Revenue
$45,955
Organization Details
Founding Year
2010
Phone
(612) 377-0549Principal Officer
Joseph L Holmberg
Main Address
2507 LAKE PLACE, MINNEAPOLIS, MN, 55405
NTEE Category
Code: L21 - Housing
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