Overview
What is Ahepa 78 Phase Ii Inc?
Ahepa 78 Phase II Inc. is a not-for-profit corporation established in compliance with Indiana's not-for-profit regulations. Its primary objective is to construct, own, and manage an affordable housing apartment complex called Ahepa 78 II Apartments in Merrillville, Indiana. This project falls under Section 202 of the National Affordable Housing Act, which it aims to fulfill. The sponsor overseeing this endeavor is Ahepa National Housing Corporation.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star Rating. This rating reflects the organization’s overall performance, which is solely derived from its Accountability & Finance score. Ahepa 78 Phase II Inc has a strong foundation in governance, indicated by its perfect scores for having an independent board and no material diversion of assets.
Despite its strengths, the organization has significant shortcomings in transparency and compliance, as indicated by the lack of essential policies and disclosures. Areas where it received zero points include the absence of a website listed on its tax form and missing conflict of interest and whistleblower policies. These deficiencies have impacted its overall rating, highlighting the need for improvement in operational transparency.
Financially, Ahepa 78 Phase II Inc demonstrates a solid program expense ratio of 85.51%, indicating that a large portion of its expenses directly supports its programs. This suggests a commitment to fulfilling its mission, but the lack of proper documentation and policies could raise concerns for potential donors regarding the organization’s governance practices. Addressing these weaknesses could enhance its rating and improve public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Ahepa 78 Phase Ii Inc legitimate?
Ahepa 78 Phase Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 78 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:
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Other Salaries and Wages: $0
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What is the mission statement of Ahepa 78 Phase Ii Inc?
Ahepa 78 Phase II Inc. was established with the primary objective of constructing, owning, and operating an affordable housing apartment community. The corporation was organized under the not-for-profit statutes of Indiana, with the intention of developing a 50-unit apartment complex in accordance with Section 202 of the National Affordable Housing Act. The sponsor of this project is Ahepa National Housing Corporation. The mission of Ahepa 78 Phase II Inc. is to provide affordable housing solutions, contributing to the well-being of individuals and families in need. The corporation aims to create a community where people can live comfortably, regardless of their financial circumstances.
Who is the CEO of Ahepa 78 Phase Ii Inc?
Leon Stath is the President of Ahepa 78 Phase Ii Inc.
What is the revenue of Ahepa 78 Phase Ii Inc?
Ahepa 78 Phase Ii Inc's revenue in 2022 was $464,162.
Who are the executives of Ahepa 78 Phase Ii Inc and what are their salaries?
There 11 volunteers at Ahepa 78 Phase Ii Inc.
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Where can I find the form 990 for Ahepa 78 Phase Ii Inc?
Ahepa 78 Phase Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ahepa 78 Phase Ii Inc
Ahepa 78 Phase II Inc, a not-for-profit corporation, was established with a clear mission. This organization was organized with the primary objective of constructing, owning, and operating an affordable housing apartment community. By doing so, it aims to provide a suitable living space for individuals who may not have access to affordable housing options. The corporation's efforts are in line with Section 202 of the National Affordable Housing Act, as amended, demonstrating its commitment to making a positive impact in the housing sector. The sponsor of this corporation is Ahepa National Housing Corporation, further emphasizing its dedication to providing affordable housing solutions.
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Impact
July, 2024
Ahepa 78 Phase II Inc's impact lies in providing affordable housing options through the construction, ownership, and operation of a 50-unit apartment community in Merrillville, Indiana. This initiative directly addresses the critical need for affordable housing in the area, offering a stable and secure living environment for individuals and families. By leveraging the provisions of the national affordable housing act, Ahepa 78 Phase II Inc contributes to enhancing the quality of life for residents by ensuring access to safe and affordable housing. This impactful work aligns with the organization's mission to meet the housing needs of the community they serve.
This information is meant to be a general summary of Ahepa 78 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $17
- Program Service Revenue: $461,628
- Gross Receipts: $464,162
Assets and Liabilities:
- Total Assets: $1,461,526
- Total Liabilities: $49,871
- Net Assets: $1,411,655
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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
$304,941
RENTAL INCOME
Revenue
$156,687
Organization Details
Founding Year
1983
Phone
(219) 791-0708Principal Officer
Leon Stath
Main Address
2080 WEST 79TH PLACE, MERRILLVILLE, IN, 46410
NTEE Category
Code: L22Z - Housing
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