Overview
What is Ahepa 501-Iii Inc?
Ahepa 501-Iii Inc. is a not-for-profit organization established under the guidelines of New Mexico's not-for-profit statutes. The primary purpose of this corporation is to construct, manage, and operate an affordable housing community in Albuquerque, New Mexico. Known as Ahepa 501-III Apartments, this project is funded by Section 202 of the National Affordable Housing Act. The sponsor of this initiative is Ahepa National Housing Corporation, which plays a crucial role in its development and operation.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
Ahepa 501-III Inc has received a solid Three-Star rating from Charity Navigator, reflecting an overall score of 82%. This score is based solely on the Accountability & Finance beacon, indicating a strong emphasis on financial responsibility and transparency within the organization. The charity demonstrates a commitment to maintaining a majority-independent board and effectively managing its financial statements.
The organization excels in several key areas, including a 100% independent board, which speaks to its governance and oversight effectiveness. It also scored full points for its audit and oversight committee, showing a robust framework for financial accountability. Additionally, its low liabilities to assets ratio and high program expense ratio further illustrate Ahepa 501-III's dedication to utilizing funds effectively for its charitable purposes.
While the rating reflects a strong financial health and governance structure, it is important for potential donors to consider how these factors translate into programmatic impact. The absence of any noted limitations in the financial practices suggests that Ahepa 501-III is operating efficiently, but further information on its program outcomes could provide a more comprehensive picture of its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Ahepa 501-Iii Inc legitimate?
Ahepa 501-Iii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 501-Iii 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:
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What is the mission statement of Ahepa 501-Iii Inc?
Ahepa 501-Iii Inc., a not-for-profit corporation, was established with the goal of constructing, owning, and operating an affordable housing apartment community. The organization's primary mission is to provide affordable living solutions, as outlined in Section 202 of the National Affordable Housing Act, amended. The initiative is spearheaded by Ahepa National Housing Corporation, serving as the sponsor for the project.
Who is the CEO of Ahepa 501-Iii Inc?
Mark Bullock is the President of Ahepa 501-Iii Inc.
What is the revenue of Ahepa 501-Iii Inc?
Ahepa 501-Iii Inc's revenue in 2022 was $472,106.
Who are the executives of Ahepa 501-Iii Inc and what are their salaries?
There 9 volunteers at Ahepa 501-Iii Inc.
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Where can I find the form 990 for Ahepa 501-Iii Inc?
Ahepa 501-Iii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ahepa 501-Iii Inc
Ahepa 501-Iii Inc, a not-for-profit organization, was established with a clear mission. This mission revolves around constructing, owning, and operating an affordable housing apartment community. The corporation's primary objective is to address the need for affordable housing, as encapsulated in Section 202 of the National Affordable Housing Act. By doing so, Ahepa 501-Iii Inc aims to contribute positively to the housing landscape, providing a viable solution for individuals seeking affordable housing options. The corporation's sponsor, Ahepa National Housing Corporation, plays a crucial role in this endeavor.
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Impact
July, 2024
Ahepa 501-III Inc's impact lies in providing affordable housing solutions to the community. Through the construction, ownership, and operation of the 51-unit apartment community in Albuquerque, New Mexico, known as Ahepa 501 III Apartments, they are addressing the need for accessible housing for individuals and families. This initiative aligns with their mission to create a supportive living environment that enhances the quality of life for residents, highlighting their commitment to housing as a fundamental aspect of community well-being.
This information is meant to be a general summary of Ahepa 501-Iii 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: $24
- Program Service Revenue: $466,852
- Gross Receipts: $472,106
Assets and Liabilities:
- Total Assets: $3,263,372
- Total Liabilities: $51,826
- Net Assets: $3,211,546
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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
$283,172
RENTAL INCOME
Revenue
$183,680
Organization Details
Founding Year
2004
Phone
(505) 839-9487Principal Officer
Mark Bullock
Main Address
6602 BLUE WATER ROAD NW, ALBUQUERQUE, NM, 87121
NTEE Category
Code: L22 - Housing
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