Overview
What is Affordable Housing And Economic Development Foundation?
Affordable Housing and Economic Development Foundation is a nonprofit organization situated in Honolulu, Hawaii. Its primary mission is to promote, preserve, and provide affordable housing and economic opportunities for lower-income families. The organization achieves this by securing funding from various sources, including governmental agencies, lenders, and charitable organizations. In 2022, it materially participated in the development of numerous affordable housing projects, such as senior rental properties and multifamily units, both under construction and in operation. Additionally, the foundation seeks entitlements and financing for upcoming projects and submits funding applications for grants and low-income housing tax credit programs. Its work aims to enhance the living conditions and economic prospects of families in need, demonstrating a continuous commitment to affordable housing and economic development.
Official website here: www.ahedhawaii.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star rating.
The Affordable Housing and Economic Development Foundation has received an 83% score, reflecting a strong emphasis on accountability and finance. This rating indicates that the organization demonstrates a solid commitment to transparency and responsible management of its resources, crucial factors for potential donors and supporters.
Strengths include a fully independent board with no material diversion of assets and a favorable program expense ratio of 69.73%. The organization has established policies for conflict of interest and maintains detailed board meeting minutes, which are essential for accountability. However, it lacks a whistleblower policy and a document retention and destruction policy, which are noted areas for improvement.
Overall, while the organization shows strong governance and financial practices, addressing the missing policies could enhance its credibility further. The foundation’s commitment to affordable housing and economic development is supported by its transparent operations, making it a viable option for donors interested in this sector.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Housing And Economic Development Foundation legitimate?
Affordable Housing And Economic Development Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Housing And Economic Development Foundation 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.ahedhawaii.org
What is the mission statement of Affordable Housing And Economic Development Foundation?
The Affordable Housing and Economic Development Foundation is established to support the preservation, rehabilitation, and development of affordable housing, and to promote economic opportunities for lower-income families. The organization primarily functions as a funding entity, securing grants, loans, or other funding from various sources, such as governmental agencies, lenders, companies, and charitable organizations. After obtaining the funding, the foundation partners with affordable housing developers and service providers to promote, preserve, and provide affordable housing and economic opportunities to those in need. The organization has been actively involved in developing several affordable housing projects, providing housing to seniors and families in various locations. Additionally, it seeks to build further capacity as an affordable housing non-profit by submitting funding applications under the low-income housing tax credit program.
Official website here: www.ahedhawaii.org
Who is the CEO of Affordable Housing And Economic Development Foundation?
Trisha Ogata is the President of Affordable Housing And Economic Development Foundation.
Official website here: www.ahedhawaii.org
What is the revenue of Affordable Housing And Economic Development Foundation?
Affordable Housing And Economic Development Foundation's revenue in 2022 was $26,551.
Official website here: www.ahedhawaii.org
Who are the executives of Affordable Housing And Economic Development Foundation and what are their salaries?
There 8 volunteers at Affordable Housing And Economic Development Foundation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ahedhawaii.org
Where can I find the form 990 for Affordable Housing And Economic Development Foundation?
Affordable Housing And Economic Development Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ahedhawaii.org
Learn more at the official website: www.ahedhawaii.org
Mission Statement of Affordable Housing And Economic Development Foundation
The Affordable Housing and Economic Development Foundation is a nonprofit organization with a mission to support the preservation, rehabilitation, and development of affordable housing, as well as to promote economic opportunities for lower-income families. This mission is carried out primarily through securing grants, loans, and other forms of funding from various sources, such as governmental agencies, lenders, private companies, and charitable organizations. The foundation then partners with affordable housing developers and service providers to ensure that these funds are used to promote, preserve, and provide affordable housing and economic opportunities to those in need.
In pursuit of this mission, the Affordable Housing and Economic Development Foundation has been actively involved in several projects. In 2022, the organization completed and continues to operate several affordable housing projects, including a senior rental project in Lihue, Kauai, and a multifamily rental project in Honolulu, Oahu. Additionally, the foundation has projects currently under construction, such as a senior-rental project in Honolulu, and projects in the pre-development stage, seeking entitlements and financing. These projects aim to provide affordable housing solutions to various communities, catering to the needs of both families and seniors.
Furthermore, the organization has demonstrated its commitment to building capacity as an affordable housing non-profit by submitting funding applications under the low-income housing tax credit program. This, along with applications for various grants administered by State and local agencies, reflects the foundation's dedication to expanding its reach and resources to meet the growing demand for affordable housing solutions. In doing so, the Affordable Housing and Economic Development Foundation continues to uphold its mission of supporting lower-income families and ensuring that they have access to affordable housing and economic opportunities.
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Impact
August, 2024
Affordable Housing And Economic Development Foundation has made a significant impact by supporting the preservation, rehabilitation, and development of affordable housing while also creating economic opportunities for lower-income families. The organization has been actively involved in the development of various affordable housing projects, including senior and multifamily rental projects across different cities in Hawaii.
In 2022, the foundation materially participated in several completed projects such as Pua Loke, Pahala, Queen Emma Apartments, Waimea Huakai, Waipahu Tower, and Rice Camp II, providing much-needed housing for residents in need. Additionally, the organization has ongoing projects like Kokua and Kai Olino, as well as projects in the pre-development stage seeking entitlements and financing, such as Kapolei Parkways, Kailua Lofts, and Lima Ola Family.
Moreover, the foundation has been actively working to secure funding through various grants and programs to further expand its impact and build capacity as an affordable housing nonprofit. By partnering with affordable housing developers and service providers, the organization continues to make a meaningful difference in the lives of individuals and families by providing affordable housing options and economic opportunities.
This information is meant to be a general summary of Affordable Housing And Economic Development Foundation. 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: $36
- Gross Receipts: $26,551
Assets and Liabilities:
- Total Assets: $1,988,902
- Total Liabilities: $0
- Net Assets: $1,988,902
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
PROGRAM SERVICE REVENUE
Organization Details
Founding Year
2015
Phone
(808) 534-4434Principal Officer
Trisha Ogata
Main Address
900 FORT STREET MALL 1818, HONOLULU, HI, 96813
Website
www.ahedhawaii.orgNTEE Category
Code: L20 - Housing
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