Overview
What is Ahepa 232 Iii Inc?
Ahepa 232 Iii Inc is a nonprofit organization established in compliance with Indiana's not-for-profit regulations. Its primary objective is to construct, own, and manage an affordable housing apartment complex named Ahepa 232 Phase III Apartments in Indianapolis, Indiana. This initiative aligns with Section 202 of the National Affordable Housing Act. The sponsor of this venture is Ahepa National Housing Corporation, guiding the operations of Ahepa 232 Iii Inc. The organization's mission revolves around providing affordable housing solutions in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
Ahepa 232 III Inc has received an overall score of 82%, reflecting a solid Three-Star rating primarily based on its accountability and financial practices. The organization excels in having an independent board, with 100% of its members being independent, and demonstrates strong oversight through its audit and financial management practices.
The financial health of Ahepa 232 III Inc is commendable, with a very low liabilities to assets ratio of 1.97%, indicating effective management of resources. Additionally, the charity allocates a significant portion of its budget—approximately 87%—to program expenses, which suggests a strong commitment to its mission and beneficiaries.
While the charity received a positive score overall, it is crucial for potential donors to consider the broader impact of the organization's programs and outcomes, as the rating focuses solely on financial accountability rather than program effectiveness or community engagement.
This AI summary has been generated from information found on Charity Navigator.
Is Ahepa 232 Iii Inc legitimate?
Ahepa 232 Iii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 232 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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Other Salaries and Wages: $0
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What is the mission statement of Ahepa 232 Iii Inc?
Ahepa 232 Iii Inc was established with a mission to construct, own, and manage an affordable housing apartment community. The corporation, following the guidelines of the National Affordable Housing Act, aims to provide 50 affordable housing units in an undisclosed location. The sponsor of this initiative is Ahepa National Housing Corporation. This not-for-profit organization's primary goal is to contribute to the housing needs of the community by providing affordable housing options.
Who is the CEO of Ahepa 232 Iii Inc?
Angelo Kostarides is the President of Ahepa 232 Iii Inc.
What is the revenue of Ahepa 232 Iii Inc?
Ahepa 232 Iii Inc's revenue in 2022 was $534,303.
Who are the executives of Ahepa 232 Iii Inc and what are their salaries?
There 9 volunteers at Ahepa 232 Iii Inc.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Ahepa 232 Iii Inc?
Ahepa 232 Iii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ahepa 232 Iii Inc
Ahepa 232 III Inc, a not-for-profit organization, was established with a mission to construct, own, and operate an affordable housing apartment community. This mission is aimed at providing affordable living solutions for individuals in need, as evidenced by the corporation's initiative to build and manage Ahepa 232 Phase III Apartments in Indianapolis, Indiana, in line with Section 202 of the National Affordable Housing Act. The sponsor of this project is Ahepa National Housing Corporation, demonstrating a commitment to affordable housing and community development.
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Impact
July, 2024
Ahepa 232 Iii Inc's impact is centered on providing affordable housing options to individuals in need. By constructing, owning, and operating a 50-unit apartment community in Indianapolis, Indiana, known as Ahepa 232 Phase III Apartments, the organization is addressing the critical issue of affordable housing in the community. Through its mission to offer affordable housing solutions, Ahepa 232 Iii Inc positively impacts the lives of residents by providing them with a safe and stable place to call home, thereby contributing to the overall well-being and economic stability of the community.
This information is meant to be a general summary of Ahepa 232 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: $21
- Program Service Revenue: $530,841
- Gross Receipts: $534,303
Assets and Liabilities:
- Total Assets: $2,489,981
- Total Liabilities: $48,531
- Net Assets: $2,441,450
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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
$359,113
RENTAL INCOME
Revenue
$171,728
Organization Details
Founding Year
2002
Phone
(317) 844-7480Principal Officer
Angelo Kostarides
Main Address
7355 SHADELAND STATION WAY, INDIANAPOLIS, IN, 46256
NTEE Category
Code: L22 - Housing
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