Overview
What is Ahepa 192 Inc?
Ahepa 192 Inc is a not-for-profit organization established in compliance with Iowa's not-for-profit laws. The primary purpose of this corporation is to construct, own, and manage an affordable housing apartment community, named Ahepa 192 Apartments, in Johnston, Iowa. This initiative aligns with Section 202 of the National Affordable Housing Act, aimed at providing affordable housing options. The sponsor behind this project is Ahepa National Housing Corporation. The mission of Ahepa 192 Inc remains dedicated to catering to the housing needs of individuals with an affordable housing apartment community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, Overall score: 67%)
Ahepa 192 Inc has received a rating indicating that it needs improvement, with an overall score of 67%. The organization demonstrates strong accountability in certain areas, notably with 100% of its board members being independent and an excellent program expense ratio of 92.26%. These factors suggest that the organization is effectively allocating funds towards its programs.
However, there are significant areas of concern highlighted in the evaluation. The organization has a high liabilities to assets ratio of 160.26%, which may indicate financial instability. Additionally, the absence of essential policies, such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, raises questions about governance and transparency practices.
To enhance its standing, Ahepa 192 Inc will need to address these shortcomings. Implementing the missing policies and improving its financial ratios could lead to a more favorable evaluation in the future. Overall, while there are notable strengths, the organization must focus on its governance and financial health to build trust and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Ahepa 192 Inc legitimate?
Ahepa 192 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahepa 192 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 192 Inc?
Ahepa 192 Inc., as a not-for-profit corporation, was established with the objective of constructing, owning, and operating an affordable housing apartment community. Their primary mission is to provide affordable housing options, serving as a vital resource for individuals in need. The corporation was organized under the National Affordable Housing Act, aiming to contribute to the housing sector by constructing and managing affordable living spaces. The sponsor of this venture is Ahepa National Housing Corporation, further highlighting their commitment to affordable housing solutions.
Who is the CEO of Ahepa 192 Inc?
James Karthan is the President of Ahepa 192 Inc.
What is the revenue of Ahepa 192 Inc?
Ahepa 192 Inc's revenue in 2022 was $636,567.
Who are the executives of Ahepa 192 Inc and what are their salaries?
There 11 volunteers at Ahepa 192 Inc.
Here are 11 key members and their salaries:
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Where can I find the form 990 for Ahepa 192 Inc?
Ahepa 192 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ahepa 192 Inc
Ahepa 192 Inc, a not-for-profit corporation, was established with a mission to construct, own, and operate an affordable housing apartment community. This organization was formed in compliance with the not-for-profit statutes of Iowa, with the objective of providing affordable living solutions. The corporation's focus is on managing a 60-unit apartment complex, known as Ahepa 192 Apartments, situated in Johnston, Iowa. This initiative is carried out under Section 202 of the National Affordable Housing Act, which has been amended. The sponsor of this corporation is Ahepa National Housing Corporation, further emphasizing its commitment to affordable housing. In essence, Ahepa 192 Inc is dedicated to making affordable housing a reality for its residents.
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Impact
July, 2024
Ahepa 192 Inc's impact lies in providing a valuable service to the community by constructing, owning, and operating an affordable housing apartment community in Johnston, Iowa. Through their efforts, they contribute to addressing the critical need for affordable housing in the area, providing a safe and stable living environment for individuals and families in need. Their work aligns with their mission to create housing solutions that benefit the community as a whole, making a positive impact on the lives of those they serve.
This information is meant to be a general summary of Ahepa 192 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: $79
- Program Service Revenue: $610,480
- Gross Receipts: $636,567
Assets and Liabilities:
- Total Assets: $1,793,465
- Total Liabilities: $2,852,097
- Net Assets: -$1,058,632
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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
$370,715
RENTAL INCOME
Revenue
$239,765
Organization Details
Founding Year
1990
Phone
(515) 276-6766Principal Officer
James Karthan
Main Address
6190 NW 59TH COURT, JOHNSTON, IA, 50131
NTEE Category
Code: L21Z - Housing
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