Overview
What is Ahepa 232 Inc?
Ahepa 232 Inc is a not-for-profit organization established in Indiana, adhering to the state's not-for-profit regulations. Its primary objective is to construct, own, and manage an affordable housing apartment community named Ahepa 232 apartments, in accordance with the National Affordable Housing Act. The initiative is spearheaded by Ahepa National Housing Corporation, aiming to provide affordable housing options in Indianapolis.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 70% (Two-Star out of Four Star rating)
Ahepa 232 Inc has received a score of 70% from Charity Navigator, which translates to a Two-Star rating. This rating reflects the organization's accountability and financial health, with notable strengths in governance, including a fully independent board of members and strong oversight of financial statements. Their program expense ratio is impressive at 92.14%, indicating that a significant portion of their expenditures is directed towards their programs.
However, the organization shows some weaknesses, particularly in its liabilities to assets ratio, which stands at 66.22%, resulting in a lower score in that category. Despite these challenges, Ahepa 232 Inc has demonstrated effective governance practices, as evidenced by their audit and oversight committee's scoring, and they have not reported any material diversion of assets. Overall, while the charity exhibits solid program spending and governance, its financial liabilities warrant attention for future improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Ahepa 232 Inc legitimate?
Ahepa 232 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 232 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 232 Inc?
Ahepa 232 Inc., as a not-for-profit corporation, was established with the objective of constructing, owning, and operating an affordable housing apartment community. The corporation's primary purpose is to provide affordable living spaces, catering to the needs of individuals in need of such housing solutions. This mission is carried out through the development and management of Ahepa 232 Apartments, which adheres to the guidelines set by the National Affordable Housing Act. The sponsor of this endeavor is Ahepa National Housing Corporation.
Who is the CEO of Ahepa 232 Inc?
Angelo Kostarides is the President of Ahepa 232 Inc.
What is the revenue of Ahepa 232 Inc?
Ahepa 232 Inc's revenue in 2022 was $773,844.
Who are the executives of Ahepa 232 Inc and what are their salaries?
There 9 volunteers at Ahepa 232 Inc.
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Where can I find the form 990 for Ahepa 232 Inc?
Ahepa 232 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ahepa 232 Inc
Ahepa 232 Inc, a not-for-profit organization, was established with a mission to construct, own, and manage an affordable housing apartment community. This mission is carried out through the operation of Ahepa 232 Apartments, a 72-unit complex, in accordance with the National Affordable Housing Act. The corporation's sponsor is Ahepa National Housing Corporation, demonstrating a commitment to providing affordable housing solutions. Ahepa 232 Inc's mission aligns with the goal of creating accessible and affordable living spaces for individuals, contributing to the overall well-being and stability of the community.
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Impact
October, 2024
Ahepa 232 Inc. significantly impacts the Indianapolis community by providing affordable housing solutions through its 72-unit apartment complex, Ahepa 232 Apartments. By focusing on the needs of low-income families and individuals, the organization enhances the availability of safe and stable living environments. This initiative not only addresses housing shortages but also fosters community stability and encourages social engagement among residents.
Through the construction and ongoing operation of these apartments, Ahepa 232 Inc. plays a critical role in promoting economic diversity and accessibility in the area. Residents benefit from a supportive community atmosphere while gaining access to essential resources and services that contribute to their overall well-being. The organization’s commitment to affordable living aligns with broader efforts to combat housing insecurity and improve the quality of life for countless individuals in Indianapolis.
This information is meant to be a general summary of Ahepa 232 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: $166
- Program Service Revenue: $765,571
- Gross Receipts: $773,844
Assets and Liabilities:
- Total Assets: $4,444,234
- Total Liabilities: $2,902,797
- Net Assets: $1,541,437
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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
$507,096
RENTAL INCOME
Revenue
$258,475
Organization Details
Founding Year
1989
Phone
(317) 849-5591Principal Officer
Angelo Kostarides
Main Address
7355 SHADELAND STATION WAY, INDIANAPOLIS, IN, 46256
NTEE Category
Code: L21Z - Housing
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