Overview
What is Affordable Housing Development Fund Inc?
Affordable Housing Development Fund Inc is a nonprofit organization located at 6735 Vistagreen Way 310, Rockford, Illinois, 61107. Their primary charitable endeavor involves the ownership, development, preservation, and management of affordable, safe, and well-maintained housing communities. This commitment ensures that individuals and families have access to quality residential areas, maintaining a standard of living essential for a comfortable and secure existence.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Affordable Housing Development Fund Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating that the organization requires improvement. With an overall score of 73%, the nonprofit exhibits strengths in governance and financial oversight, as evidenced by a fully independent board and a well-structured audit and oversight committee. They have also established necessary policies such as conflict of interest and whistleblower protections.
Despite these strengths, the organization faces challenges related to its financial health. The liabilities to assets ratio is notably high at 73.67%, raising concerns about its sustainability and financial management. Additionally, while the program expense ratio is relatively strong at 65.38%, there is room for improvement in ensuring that a greater portion of funds are directed towards program activities.
Overall, while Affordable Housing Development Fund Inc demonstrates good governance practices, the financial challenges highlighted in its rating suggest that potential donors and supporters should proceed with caution and seek more information about the organization's long-term viability and impact.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Housing Development Fund Inc legitimate?
Affordable Housing Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Housing Development Fund 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: $72,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Affordable Housing Development Fund Inc?
The Affordable Housing Development Fund Inc is dedicated to the charitable pursuit of owning, developing, preserving, and managing affordable, safe, good quality, and well-maintained housing communities. Their mission encompasses various aspects, including the provision of affordable homes for individuals and families. They are committed to ensuring that the housing they manage is safe and of good quality, with a focus on preservation and maintenance. By providing well-maintained communities, they contribute to the overall well-being of the residents and promote stable living environments. Their efforts aim to make a positive difference in the lives of those in need of affordable housing.
Who is the CEO of Affordable Housing Development Fund Inc?
Tom Van Vleet is the Dir., Vp, & Treasurer of Affordable Housing Development Fund Inc.
What is the revenue of Affordable Housing Development Fund Inc?
Affordable Housing Development Fund Inc's revenue in 2022 was $20,676,130.
Who are the executives of Affordable Housing Development Fund Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $20,000
- Related: $0
- Other: $0
- Compensation: $32,000
- Related: $0
- Other: $0
- Compensation: $20,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $245,011
- Other: $0
Where can I find the form 990 for Affordable Housing Development Fund Inc?
Affordable Housing Development Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Affordable Housing Development Fund Inc
Affordable Housing Development Fund Inc, a charitable organization, is dedicated to the ownership, development, preservation, and management of affordable, safe, good quality, and well-maintained housing communities. The corporation's mission goes beyond providing shelter, focusing on creating thriving and sustainable communities where people can call home. By prioritizing affordability, the organization ensures that individuals and families have access to safe and comfortable living environments, enabling them to build stable lives. Through its commitment to development and preservation, Affordable Housing Development Fund Inc contributes to the betterment of communities by addressing housing needs and promoting community growth. The corporation's management practices ensure that the housing communities remain in top condition, providing residents with a sense of pride and belonging.
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Impact
October, 2024
Affordable Housing Development Fund Inc significantly enhances the community in Rockford, IL, by focusing on the ownership, development, preservation, and management of affordable housing. Its impact is evident in the creation and maintenance of safe, quality, and well-maintained housing communities that cater to the needs of residents from various economic backgrounds.
By prioritizing affordable housing, the organization helps to alleviate the pressure of housing costs on low- and moderate-income families, promoting stability and security within the community. This initiative not only improves residents' quality of life but also contributes to the overall economic health of Rockford by fostering diverse, sustainable neighborhoods.
The organization's commitment to maintaining high standards in housing ensures that residents can enjoy a safe living environment, which is crucial for their physical and mental well-being. Through its efforts, Affordable Housing Development Fund Inc plays a vital role in addressing housing inequalities and promoting inclusive growth, making a lasting positive impact on the lives of many.
This information is meant to be a general summary of Affordable Housing Development Fund 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: $6,035,822
- Program Service Revenue: $13,795,137
- Gross Receipts: $21,787,207
Assets and Liabilities:
- Total Assets: $86,242,011
- Total Liabilities: $62,362,992
- Net Assets: $23,879,019
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME, NET OF VACANCIES
Revenue
$13,161,286
OTHER MANAGEMENT INCOME
Revenue
$71,784
MANAGEMENT FEE INCOME
Revenue
$22,410
Organization Details
Founding Year
1997
Phone
(815) 397-3755Principal Officer
Tom Van Vleet
Main Address
6735 VISTAGREEN WAY 310, ROCKFORD, IL, 61107
NTEE Category
Code: L20 - Housing
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