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Ahepa 232 Phase Ii Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 351635762 ✦ Indianapolis, IN ✦ Designated as a 501(c)(3)

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Overview

What is Ahepa 232 Phase Ii Inc?

Ahepa 232 Phase II Inc. is a not-for-profit organization established in Indiana, adhering to the state's not-for-profit regulations. Their primary purpose is to construct, own, and manage an affordable housing apartment community in Indianapolis, called Ahepa 232 Phase II apartments. This initiative aligns with Section 202 of the National Affordable Housing Act. The organization is sponsored by Ahepa National Housing Corporation and aims to provide affordable housing solutions for the community.

What are the reviews and ratings of this charity?

Charity Navigator Rating: Needs Improvement (67%)

Ahepa 232 Phase Ii Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in several operational aspects. The organization demonstrates strong governance with a fully independent board and excellent program expense ratio, allocating 91.70% of its budget to programs. Moreover, it maintains a solid track record regarding financial oversight, with no material diversion of assets and properly documented board meeting minutes.

However, the rating also highlights significant weaknesses in financial management practices, particularly with a liabilities to assets ratio of 128.96%, which raises concerns about financial stability. Additionally, the absence of key policies such as conflict of interest, whistleblower, and document retention policies suggests a lack of comprehensive governance protocols. The nonprofit has also not made its tax forms available on its website, which can hinder transparency and accountability efforts to the public.


This AI summary has been generated from information found on Charity Navigator.

Is Ahepa 232 Phase Ii Inc legitimate?

Ahepa 232 Phase Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 232 Phase Ii 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

For more financial information, click here

What is the mission statement of Ahepa 232 Phase Ii Inc?

Ahepa 232 Phase II 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 affordable living spaces for its residents. The project is sponsored by Ahepa National Housing Corporation, and the corporation's primary objective is to operate the Ahepa 232 Phase II apartments, ensuring the availability of affordable housing units.

Who is the CEO of Ahepa 232 Phase Ii Inc?

Angelo Kostarides is the President of Ahepa 232 Phase Ii Inc.

What is the revenue of Ahepa 232 Phase Ii Inc?

Ahepa 232 Phase Ii Inc's revenue in 2022 was $547,828.

Who are the executives of Ahepa 232 Phase Ii Inc and what are their salaries?

There 9 volunteers at Ahepa 232 Phase Ii Inc.


Here are 9 key members and their salaries:


Angelo Kostarides (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Angelo Zarvas (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Aristotle Nicolaides (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Andrew Spirrison (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Irene Sarris (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Nick Spirrison (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ilias Sotos (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
George Karampas (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Angela Magrames (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Ahepa 232 Phase Ii Inc?

Ahepa 232 Phase Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Ahepa 232 Phase Ii Inc

Ahepa 232 Phase II Inc, a not-for-profit corporation, was established with a clear mission. Its objective was to construct, maintain, and manage an affordable housing apartment community. This community, located in Indiana, was named Ahepa 232 Phase II Apartments, adhering to Section 202 of the National Affordable Housing Act. The corporation, sponsored by Ahepa National Housing Corporation, aimed to provide affordable housing options, contributing to the well-being of its residents.

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Impact




July, 2024

Ahepa 232 Phase II Inc's impact lies in providing a crucial service to the community by offering affordable housing options through its 50-unit apartment community in Indianapolis, Indiana. By constructing, owning, and operating this housing complex, Ahepa 232 Phase II Inc contributes to addressing the ongoing issue of affordable housing accessibility. This initiative directly supports individuals and families who may face challenges in finding suitable and affordable accommodations, ultimately helping to improve their quality of life.




This information is meant to be a general summary of Ahepa 232 Phase Ii 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.

Revenue
$547,828 (2022)
Expenses
$535,812 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $2
  • Program Service Revenue: $542,339
  • Gross Receipts: $547,828

Assets and Liabilities:

  • Total Assets: $1,821,108
  • Total Liabilities: $2,308,883
  • Net Assets: -$487,775

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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

$352,764

RENTAL INCOME

Revenue

$189,575

Organization Details

Founding Year

1989

Principal Officer

Angelo Kostarides

Main Address

7355 SHADELAND STATION WAY, INDIANAPOLIS, IN, 46256

NTEE Category

Code: L99Z - Housing

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