Overview
What is Ahead Inc?
Ahead Inc is a nonprofit organization, based in Ottumwa, Iowa, dedicated to aiding low-income individuals and families. Established in fiscal year 2011, they have offered rental and utility assistance to numerous eligible households. Funds for this purpose were distributed through the county general relief directors. Besides this, Ahead Inc also provides affordable homeownership assistance through low-interest loans, up to $10,000, payable over a decade at a 3% interest rate. Their mission extends to offering housing rehabilitation assistance to qualified homeowners and providing tenant rental and utility aid to eligible individuals. Additionally, a revolving loan fund has been established for owner and rental rehabilitation loans. To be eligible for their home buyer program, the household's income must not surpass $100,000, and applicants must reside within the six-county area and inside city limits.
Official website here: www.area15rpc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85%, Three-Star out of Four Stars
Ahead Inc has earned an overall rating of 85%, reflecting strong performance in accountability and finance. The rating indicates that the organization maintains solid practices in governance, with a fully independent board and robust oversight mechanisms, as evidenced by perfect scores in several areas like audit committee presence and conflict of interest policies.
The charity demonstrates a commendable commitment to transparency, with publicly accessible documentation of board meeting minutes and adherence to policies regarding whistleblower protections and document retention. Additionally, the organization has a low liabilities to assets ratio, suggesting good financial health and stability.
However, while Ahead Inc performs well in the majority of assessed areas, its program expense ratio at 61.48% suggests that there may be room for improvement in channeling a higher percentage of its expenses directly into program services. Overall, the charity's strong accountability measures are a positive aspect, yet stakeholders may wish to monitor its program efficiency moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Ahead Inc legitimate?
Ahead Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ahead 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
Official website here: www.area15rpc.com
What is the mission statement of Ahead Inc?
Ahead Inc's mission is centered around assisting first-time homebuyers by providing them with low-interest loans. These loans, up to $10,000, have a maximum repayment term of 10 years at an interest rate of 3%, with equal monthly payments from the borrower. Additionally, funds received from the Regional Housing Trust are utilized to offer housing rehabilitation assistance to eligible homeowners and to provide rental and utility aid to qualified individuals. Furthermore, a revolving loan fund has been established for both owner and rental rehabilitation loans within this program. A homebuyer program is also available, with eligibility requirements including a household income of $100,000 or less and being located within a 6-county area and city limits.
Official website here: www.area15rpc.com
Who is the CEO of Ahead Inc?
Chris Bowers is the Charman of Ahead Inc.
Official website here: www.area15rpc.com
What is the revenue of Ahead Inc?
Ahead Inc's revenue in 2022 was $466,531.
Official website here: www.area15rpc.com
Who are the executives of Ahead Inc and what are their salaries?
Here are 4 key members and their salaries:
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- Other: $0
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Official website here: www.area15rpc.com
Where can I find the form 990 for Ahead Inc?
Ahead Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.area15rpc.com
Learn more at the official website: www.area15rpc.com
Mission Statement of Ahead Inc
Ahead Inc, a nonprofit organization, is committed to assisting first-time homebuyers. Their mission revolves around providing affordable financing options, offering low-interest loans of up to $10,000 with a 3% interest rate, and a repayment period of up to 10 years. These loans come with equal monthly payment amounts, making homeownership more accessible for eligible borrowers.
Beyond this, Ahead Inc also utilizes funds from the Regional Housing Trust to offer additional support. They provide housing rehabilitation assistance to qualified homeowners, aiming to improve living conditions. Moreover, they offer rental and utility assistance to qualified individuals, helping to alleviate financial burdens. To further their mission, Ahead Inc has established a revolving loan fund for owner and rental rehabilitation loans, ensuring ongoing support for homeowners and renters alike.
It's worth noting that Ahead Inc also has a home buyer program, designed for households with an annual income of $100,000 or less, and residing within the 6-county area. These loans, capped at $10,000, are provided with the same favorable terms as their initial offering, making homeownership a more attainable goal for many. By offering a comprehensive range of financial assistance, Ahead Inc is dedicated to improving living situations and enhancing the overall quality of life for eligible individuals and families.
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Impact
July, 2024
Ahead Inc's impact is significant in helping first-time homebuyers through low-interest loans. These loans, of up to $10,000, are payable over a maximum of 10 years at a 3% interest rate, with equal monthly payments from the borrower. Additionally, they provide housing rehabilitation assistance to qualified homeowners and offer tenant rental and utility assistance to those in need. Through the years, Ahead Inc has assisted several hundred low-income households with rental and utility aid, as well as provided loans for home improvements like roofs, gutters, and structural enhancements. Their revolving loan fund supports owner and rental rehabilitation loans, contributing to the betterment of the community's housing situation.
This information is meant to be a general summary of Ahead 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.
- Program Service Revenue: $13,202
- Gross Receipts: $466,531
Assets and Liabilities:
- Total Assets: $2,677,605
- Total Liabilities: $11,149
- Net Assets: $2,666,456
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST
Revenue
$7,961
FEES
Revenue
$5,241
Organization Details
Founding Year
1995
Phone
(641) 684-6551Principal Officer
Chris Bowers
Main Address
PO BOX 1110, OTTUMWA, IA, 52501
Website
www.area15rpc.comNTEE Category
Code: L99 - Housing
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