Overview
What is The Affordable Housing Trust?
The Affordable Housing Trust is a charitable initiative established in Charleston, South Carolina, located at 550 Meeting Street. Funded by transfer fees from specific neighboring property sales, this trust aims to maintain affordable rental rates for residents with low to moderate incomes at the Williams Terrace Apartments. The trust's funds are managed by WEH Inc., and are utilized to cover operational, maintenance, repair, replacement, and improvement costs for these affordable rental units. The trust's mission is to assist in ensuring the financial sustainability and upkeep of these affordable housing units, thereby providing a stable living environment for eligible residents.
Official website here: www.chacity.org/
Is The Affordable Housing Trust legitimate?
The Affordable Housing Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Affordable Housing Trust 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
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Official website here: www.chacity.org/
What is the mission statement of The Affordable Housing Trust?
The Affordable Housing Trust was created with the primary objective of maintaining affordable rental rates for units at the Williams Terrace Apartments for individuals and families of low to moderate income levels. The trust's role also extends to assisting in the payment of operational, maintenance, repair, replacement, and improvement costs for these affordable rental units within Williams Terrace. The trust is funded by transfer fees of at least 1% of the gross sales price on specific neighboring properties. The managed funds are then utilized to cover the necessary expenses for the affordable rental units within Williams Terrace when required.
Official website here: www.chacity.org/
Who is the CEO of The Affordable Housing Trust?
Arthur Milligan Jr is the Vice Pres., of The Affordable Housing Trust.
Official website here: www.chacity.org/
What is the revenue of The Affordable Housing Trust?
The Affordable Housing Trust's revenue in 2022 was $100,746.
Official website here: www.chacity.org/
Who are the executives of The Affordable Housing Trust and what are their salaries?
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $189,000
- Other: $0
- Compensation: $0
- Related: $156,877
- Other: $0
- Compensation: $0
- Related: $75,210
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.chacity.org/
Where can I find the form 990 for The Affordable Housing Trust?
The Affordable Housing Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chacity.org/
Learn more at the official website: www.chacity.org/
Mission Statement of The Affordable Housing Trust
The Affordable Housing Trust, established with a vision to maintain affordable rental rates, is dedicated to serving individuals and families of low to moderate income. Its primary mission is to support the Williams Terrace Apartments by funding operational, maintenance, repair, replacement, and improvement costs for these affordable rental units. The trust operates on funds generated from transfer fees, specifically 1% or more of the gross sales price on selected property sales or conveyances. The trustee, WEH Inc., manages these funds, ensuring they are utilized as needed to sustain the affordability and upkeep of the rental units within the Williams Terrace Apartments.
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Impact
October, 2024
The Affordable Housing Trust has a significant impact on the Charleston community by ensuring that rental units at Williams Terrace Apartments remain accessible for individuals and families of low to moderate incomes. By maintaining target rental rates, the Trust helps to alleviate housing insecurity and prevents displacement in an area where housing costs may otherwise rise.
The Trust is funded through transfer fees from property sales in the vicinity, specifically allocated to support the operations and maintenance of the affordable rental units. This sustainable funding model allows for proactive management of essential repairs and improvements, ensuring that the living conditions remain safe and welcoming for residents.
Overall, the Affordable Housing Trust plays a crucial role in fostering stable, affordable housing options within the community, contributing to the overall quality of life for its residents.
This information is meant to be a general summary of The Affordable Housing Trust. 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: $14,126
- Gross Receipts: $100,746
Assets and Liabilities:
- Total Assets: $1,004,124
- Total Liabilities: $0
- Net Assets: $1,004,124
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Organization Details
Founding Year
2015
Phone
(843) 720-3167Principal Officer
Arthur Milligan Jr
Main Address
550 MEETING STREET, CHARLESTON, SC, 29403
Website
www.chacity.org/NTEE Category
Code: L21 - Housing
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