Overview
What is Affordable Housing Partners Inc?
Affordable Housing Partners Inc is a nonprofit organization committed to providing affordable, well-maintained housing communities. Based in Indiana, it has expanded its reach to various locations, including Ohio, South Carolina, and Texas. The corporation owns and operates thirteen such communities, including Knollwood Apartments, Crystal Glen Apartments, and Broad River Village Apartments. It also has partial ownership in Grand Station Apartments in Austin, Texas, and shares ownership in Crown Pointe Apartment Homes and Stone Haven Pointe Apartments in South Carolina. To further its charitable purposes, Affordable Housing Partners Inc has established the Inclusivity Institute. The organization strives to develop and facilitate the development of quality, secure housing options for individuals and families in need.
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 73% (Two-Star out of Four Star Rating)**
Affordable Housing Partners Inc has received a Two-Star rating from Charity Navigator, indicating some strengths in accountability and finance but a need for improvement in other areas. Their overall score is determined by a strong performance in accountability, with key highlights including a fully independent board and effective financial statements oversight. However, gaps in policies regarding conflict of interest and whistleblower protections could hinder potential transparency and governance practices.
The organization demonstrates a committed approach to allocating a significant portion of its expenses toward programs, reflecting a strong focus on its mission. Nevertheless, their liabilities to assets ratio indicates some financial vulnerabilities that may impact their stability. This rating suggests that while they are functioning adequately, stakeholders should watch for improvements in governance policies and financial management practices to bolster trust and operational effectiveness.
User feedback from GreatNonprofits is currently not available, which limits insights into the broader community sentiment regarding their services and impact. Overall, interested parties are encouraged to examine the charity’s financial health and consider both its strengths and areas for development as part of their decision-making process.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Housing Partners Inc legitimate?
Affordable Housing Partners Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Housing Partners 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: $1,609,791
For more financial information, click here
What is the mission statement of Affordable Housing Partners Inc?
Affordable Housing Partners Inc's mission is centered around providing affordable, safe, and well-maintained housing communities. Their charitable purpose includes developing or facilitating the development of such housing communities. The corporation owns and operates numerous affordable housing communities across various locations, with examples including Knollwood Apartments in Hamilton, Ohio, and Broad River Village Apartments in Beaufort, South Carolina. Additionally, they have formed the Inclusivity Institute to further their mission, demonstrating a commitment to expanding their charitable purposes.
Who is the CEO of Affordable Housing Partners Inc?
Bruce Cordingley is the Principal Officer of Affordable Housing Partners Inc.
What is the revenue of Affordable Housing Partners Inc?
Affordable Housing Partners Inc's revenue in 2022 was $11,200,231.
Who are the executives of Affordable Housing Partners Inc and what are their salaries?
The average compensation at Affordable Housing Partners Inc during 2022 was $321,958. There are 5 employees at Affordable Housing Partners Inc.
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- Compensation: $120,533
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- Other: $1,575
Where can I find the form 990 for Affordable Housing Partners Inc?
Affordable Housing Partners Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Affordable Housing Partners Inc
Affordable Housing Partners Inc, as a nonprofit organization, is dedicated to providing affordable, safe, and well-maintained housing communities. Their charitable purposes revolve around the development or facilitation of such housing communities. The corporation has demonstrated its commitment by developing and managing thirteen such communities across various locations. These communities offer a sense of security and comfort to their residents, providing them with a place to call home.
Some of the notable housing communities developed by Affordable Housing Partners Inc include Knollwood Apartments in Hamilton, Ohio, Crystal Glen Apartments in Findlay, Ohio, and Autumn Woods Apartments and Autumn Woods II Apartments in Crawfordsville, Indiana, among others. These communities cater to a diverse range of individuals, providing them with a living space that meets their needs and budget. It's worth noting that the corporation's involvement extends beyond just owning and operating these communities. For instance, it had a significant stake in Grand Station Apartments, a 216-unit apartment complex in Austin, Texas, through a partnership interest.
In addition to its physical involvement in housing development, Affordable Housing Partners Inc has also established the Inclusivity Institute to further its charitable purposes. The specifics of this institute's activities are not provided in the information provided, but it underscores the organization's commitment to going beyond just providing housing and making a broader impact in the communities it serves. Overall, Affordable Housing Partners Inc is a nonprofit organization that is deeply invested in providing affordable and quality housing to individuals and families in need.
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Impact
October, 2024
Affordable Housing Partners Inc significantly impacts communities by providing access to affordable, safe, high-quality, and well-maintained housing. The organization has developed and manages thirteen housing communities across various states, including Ohio, Indiana, South Carolina, and North Carolina. Each of these properties offers residents an opportunity for stable housing, contributing to enhanced quality of life and community well-being.
For instance, Knollwood Apartments in Hamilton, Ohio, with its 240 units, serves a diverse population, while Crystal Glen Apartments in Findlay, Ohio, adds 64 units to the affordable housing landscape. In Crawfordsville, Indiana, the two adjacent communities, Autumn Woods Apartments and Autumn Woods II, each comprising 96 units, further expand affordable living options.
The organization's commitment extends to communities like Mill Run in Columbia, South Carolina, and Landings of Gastonia in North Carolina, where they provide significant housing solutions that foster stability and inclusivity.
Additionally, the Bluffs Apartment Homes and Woodwinds Apartment Homes in South Carolina contribute further to the region's affordable housing stock, while Broad River Village Apartments and its adjacent community in Beaufort, South Carolina, exemplify the organization’s dedication to well-maintained living spaces.
Through its strategic partnerships and ownership stakes in various properties, Affordable Housing Partners Inc ensures that more individuals and families have access to essential housing resources, thereby promoting stronger, more resilient communities. The formation of the Inclusivity Institute underlines its mission to create environments that support diverse populations, solidifying its role as a vital player in addressing housing challenges.
This information is meant to be a general summary of Affordable Housing Partners 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: $117,449
- Program Service Revenue: $10,364,506
- Gross Receipts: $13,825,113
Assets and Liabilities:
- Total Assets: $238,276,923
- Total Liabilities: $235,139,705
- Net Assets: $3,137,218
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$10,264,506
LIHTC DISPOSITION FEE
Revenue
$100,000
Organization Details
Founding Year
1996
Phone
(317) 587-0329Principal Officer
Bruce Cordingley
Main Address
770 3RD AVENUE SOUTHWEST, CARMEL, IN, 46032
NTEE Category
Code: L200 - Housing
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