Overview
What is Capital Area Multi-Housing Inc?
Capital Area Multi-Housing Inc is a nonprofit organization situated in Austin, Texas, specifically at 4101 PARKSTONE HEIGHTS DR STE 280. Their primary mission is to facilitate the financing of affordable housing development and ownership, ensuring the provision of decent, safe, and sanitary living spaces for individuals with low and moderate incomes. This mission is carried out through their involvement as the sole member of four limited partnerships, each dedicated to acquiring, constructing, and operating multifamily residential rental complexes in Kyle, San Marcos, and Austin, Texas. Upon completion, these complexes will offer 876 affordable housing residences.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star Rating
Capital Area Multi-Housing Inc has received a 79% rating from Charity Navigator, indicating a satisfactory level of accountability and finance management. This rating reflects a strong emphasis on transparency, with the organization achieving full marks in areas such as having an independent board and effective policies regarding conflict of interest and whistleblower protection.
The organization boasts a program expense ratio of 99.94%, suggesting that nearly all of its funds are directed towards its charitable programs, which is a significant strength. Additionally, there is no indication of material diversion of assets, further reinforcing the integrity of its financial practices. The independent board is entirely composed of independent members, which is a positive aspect of the governance structure.
However, while the organization demonstrates strong financial accountability, the overall score is based solely on a single beacon score. This could imply that further evaluation across additional performance areas might provide a more comprehensive view of the nonprofit's overall effectiveness and impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Capital Area Multi-Housing Inc legitimate?
Capital Area Multi-Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Capital Area Multi-Housing 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: $0
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What is the mission statement of Capital Area Multi-Housing Inc?
Capital Area Multi-Housing Inc's mission is centered around providing financing for residential ownership and development. This endeavor aims to create decent, safe, affordable, and sanitary housing options for individuals with moderate to low income. The organization serves as the sole member of four limited partnerships, each with the goal of acquiring, constructing, and operating multiple family residential rental complexes. Upon completion, these complexes will offer 876 affordable housing residences.
Who is the CEO of Capital Area Multi-Housing Inc?
James E Shaw is the President of Capital Area Multi-Housing Inc.
What is the revenue of Capital Area Multi-Housing Inc?
Capital Area Multi-Housing Inc's revenue in 2022 was $1,061,934.
Who are the executives of Capital Area Multi-Housing Inc and what are their salaries?
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Capital Area Multi-Housing Inc?
Capital Area Multi-Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Capital Area Multi-Housing Inc
Capital Area Multi-Housing Inc, as a mission-driven organization, aims to facilitate the financing of residential ownership and development, ensuring the provision of decent, safe, affordable, and sanitary housing for individuals with low and moderate income. The organization's primary goal is to create a sustainable living environment for these individuals, thereby addressing their housing needs effectively.
In pursuit of this mission, Capital Area Multi-Housing Inc serves as the sole member of four limited partnerships. These partnerships are established with the objective of acquiring, constructing, and operating multiple family residential rental complexes in different locations. Once completed, these complexes will contribute a significant number of affordable housing residences to the community, addressing the housing needs of a substantial segment of the population.
By focusing on the development and financing of affordable housing, Capital Area Multi-Housing Inc plays a pivotal role in improving the living conditions of individuals with limited resources. The organization's commitment to providing decent, safe, and sanitary housing is an essential step towards promoting social equity and ensuring that everyone has access to a secure and comfortable living environment.
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Impact
October, 2024
Capital Area Multi-Housing Inc significantly impacts the communities of Kyle, San Marcos, and Austin, Texas, by addressing the critical need for affordable housing. Through its development of four multifamily residential rental complexes, the organization facilitates the construction and operation of 876 affordable housing units. This initiative directly contributes to the well-being of low- and moderate-income individuals and families by providing decent, safe, and sanitary living environments.
By financing the costs associated with residential ownership and development, Capital Area Multi-Housing Inc plays a vital role in enhancing access to housing for those who might otherwise struggle to find suitable accommodation. The organization's efforts not only alleviate housing insecurity but also foster stability and community growth, ultimately improving the quality of life for its residents. This comprehensive approach ensures that affordable housing remains available in areas where it is desperately needed, making a lasting impact on the region's socioeconomic landscape.
This information is meant to be a general summary of Capital Area Multi-Housing 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: $27,181
- Program Service Revenue: $1,034,753
- Gross Receipts: $1,061,934
Assets and Liabilities:
- Total Assets: $1,848,327
- Total Liabilities: $220,189
- Net Assets: $1,628,138
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GENERAL CONTRACTOR FEE
Revenue
$1,019,753
CONSTRUCTION ADMIN FEE
Revenue
$15,000
Organization Details
Founding Year
2001
Phone
(512) 347-9953Principal Officer
James E Shaw
Main Address
4101 PARKSTONE HEIGHTS DR STE 280, AUSTIN, TX, 78746
NTEE Category
Code: L21 - Housing
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