Overview
What is Alaska Corporation For Affordable Housing?
Alaska Corporation for Affordable Housing is a nonprofit organization situated in Anchorage, Alaska, with a postal address at 4300 Boniface Parkway, 99504. Its primary mission is to offer affordable housing options for low-income households, leveraging various state and federal government assistance programs. The organization has completed 88 units of affordable housing in previous fiscal years and is currently managing these units. Furthermore, it is also involved in the development of new affordable housing units, which are expected to be completed in Fairbanks, Alaska, by 2023. The corporation's activities align with the broader mission of Alaska Housing, providing affordable housing and services to those in need, while focusing on aspects that fall outside their direct remit.
Official website here: www.ahfc.us
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
The Alaska Corporation for Affordable Housing has received an 88% rating from Charity Navigator, indicating a strong commitment to accountability and financial health. This rating is based entirely on the organization's performance in the Accountability & Finance beacon, reflecting its effective governance and operational practices.
The nonprofit demonstrates notable strengths, such as having a fully independent board comprised of eight members, an excellent audit and oversight committee, and no reported material diversion of assets. The organization excels in financial transparency, evidenced by a program expense ratio of 96.64%, ensuring that the majority of its funds are directed towards its mission.
However, there are some areas for improvement. The organization is missing its whistleblower policy and document retention and destruction policies, which could enhance its governance practices. Overall, while the Alaska Corporation for Affordable Housing showcases strong financial management and accountability, addressing these policy gaps could further strengthen its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Alaska Corporation For Affordable Housing legitimate?
Alaska Corporation For Affordable Housing is a legitimate nonprofit organization registered as a 501(c)(3) entity. Alaska Corporation For Affordable Housing 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: $90,365
For more financial information, click here
Official website here: www.ahfc.us
What is the mission statement of Alaska Corporation For Affordable Housing?
Alaska Corporation for Affordable Housing's mission is to tackle the types of affordable housing and related services that are beyond the scope of Alaska Housing, yet align with its goal of providing affordable housing and services to those in need. The corporation achieves this by utilizing various state and federal government assistance programs to offer housing at affordable rent or ownership costs for low-income households. In addition to managing existing 88 units of affordable housing, the organization also supports the development of new units, with a new project in Fairbanks expected to be ready for occupation in 2023. Overall, Alaska Corporation for Affordable Housing supports Alaska Housing's mission by providing affordable housing options for those who require it.
Official website here: www.ahfc.us
Who is the CEO of Alaska Corporation For Affordable Housing?
Bryan Butcher is the Board Of Directors Chair Officer of Alaska Corporation For Affordable Housing.
Official website here: www.ahfc.us
What is the revenue of Alaska Corporation For Affordable Housing?
Alaska Corporation For Affordable Housing's revenue in 2022 was $485,131.
Official website here: www.ahfc.us
Who are the executives of Alaska Corporation For Affordable Housing and what are their salaries?
There 11 volunteers at Alaska Corporation For Affordable Housing.
Here are 10 key members and their salaries:
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- Other: $0
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- Related: $296,478
- Other: $114,574
- Compensation: $0
- Related: $195,039
- Other: $92,534
- Compensation: $0
- Related: $103,161
- Other: $39,069
Official website here: www.ahfc.us
Where can I find the form 990 for Alaska Corporation For Affordable Housing?
Alaska Corporation For Affordable Housing's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ahfc.us
Learn more at the official website: www.ahfc.us
Mission Statement of Alaska Corporation For Affordable Housing
Alaska Corporation for Affordable Housing, a nonprofit organization, is committed to its mission of providing housing solutions at affordable rent or ownership costs for low-income households. Recognizing the limitations of Alaska Housing in directly undertaking certain types of affordable housing and services, this corporation steps in to support its broader objective of providing affordable housing and services to those in need. Through the utilization of various state and federal government assistance programs, the corporation has completed 88 units of affordable housing in previous fiscal years. Currently, it focuses on the development and management of these units, aiming to make a meaningful impact on the lives of low-income households. In addition, the corporation is actively involved in the development of new units, with an expected completion date in 2023, further expanding its reach and impact.
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Impact
July, 2024
Alaska Corporation For Affordable Housing plays a crucial role in providing housing for low-income households at affordable rent or ownership costs. The organization has completed a total of 88 units of affordable housing in previous fiscal years, and continues to support the development of new units expected to be ready for occupation in 2023. By utilizing various state and federal government assistance programs, the corporation contributes to addressing the housing needs of individuals and groups who may not have access to affordable housing through other means. Its impact directly supports Alaska Housing's mission of providing affordable housing and services to those in need, filling a vital gap in the housing market in Anchorage, Alaska.
This information is meant to be a general summary of Alaska Corporation For Affordable Housing. 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: $4,119
- Program Service Revenue: $319,982
- Gross Receipts: $485,131
Assets and Liabilities:
- Total Assets: $29,559,235
- Total Liabilities: $5,024,118
- Net Assets: $24,535,117
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Mortgage Interest
Revenue
$140,766
Rental Income
Revenue
$127,447
Development Fees
Revenue
$23,968
Management Fees
Revenue
$14,400
Consulting Fees
Revenue
$13,401
Organization Details
Founding Year
2012
Phone
(907) 330-8416Principal Officer
Bryan Butcher
Main Address
4300 Boniface Parkway, Anchorage, AK, 99504
Website
www.ahfc.usNTEE Category
Code: L20 - Housing
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