Overview
What is Foresight Affordable Housing Inc?
Foresight Affordable Housing Inc, situated in Ventnor, New Jersey, serves as a developer, consultant, and asset manager of Multi-Family affordable housing communities. The organization is dedicated to providing management services and project oversight, aiming to ensure the delivery of high-quality housing options for lower-income individuals and families. With a goal to improve affordability, Foresight Affordable Housing, Inc. was established, employing a workforce of 10 individuals. Their mission is to create and manage affordable housing opportunities, contributing positively to the community.
Official website here: www.foresightinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Foresight Affordable Housing Inc has achieved a high rating of 96% from Charity Navigator, indicating strong accountability and financial health. The organization received full marks in several key areas, including its independent board composition and financial oversight, which reflect a commitment to transparency and responsible governance.
The nonprofit's operational strength is highlighted by an impressive program expense ratio of 79.90%, suggesting that a significant portion of its funds is directed toward its mission rather than administrative costs. Furthermore, the organization has established robust policies, such as conflict of interest and whistleblower policies, which reinforce its ethical standards.
While the overall ratings are positive, potential supporters may want to consider the context of its operations and the specific programs it offers, as the rating focuses primarily on financial metrics and accountability rather than programmatic impact. Overall, the rating suggests a well-managed organization dedicated to its mission of providing affordable housing.
This AI summary has been generated from information found on Charity Navigator.
Is Foresight Affordable Housing Inc legitimate?
Foresight Affordable Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foresight Affordable Housing 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: $490,117
Professional Fundraising Fees: $0
Other Salaries and Wages: $720,858
For more financial information, click here
Official website here: www.foresightinc.org
What is the mission statement of Foresight Affordable Housing Inc?
Foresight Affordable Housing Inc, as a mission, is dedicated to offering high-quality affordable housing solutions to individuals and families with lower income levels. Established with this purpose, Foresight Affordable Housing Inc aims to deliver affordable housing through management services and project oversight. The organization serves as a developer, consultant, and asset manager of Multi-Family affordable housing communities, which are typically financed through HUD-insured mortgages or other funding sources. Its primary goal is to make affordable housing an accessible option for those in need.
Official website here: www.foresightinc.org
Who is the CEO of Foresight Affordable Housing Inc?
Donald Reape is the Vice President of Foresight Affordable Housing Inc.
Official website here: www.foresightinc.org
What is the revenue of Foresight Affordable Housing Inc?
Foresight Affordable Housing Inc's revenue in 2022 was $3,700,566.
Official website here: www.foresightinc.org
Who are the executives of Foresight Affordable Housing Inc and what are their salaries?
The average compensation at Foresight Affordable Housing Inc during 2022 was $121,098. There are 10 employees and 5 volunteers at Foresight Affordable Housing Inc.
Here are 11 key members and their salaries:
- Compensation: $262,202
- Related: $0
- Other: $47,320
- Compensation: $166,718
- Related: $0
- Other: $45,014
- Compensation: $131,876
- Related: $0
- Other: $30,494
- Compensation: $82,117
- Related: $0
- Other: $13,631
- Compensation: $33,392
- Related: $0
- Other: $23,626
- Compensation: $17,829
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
Official website here: www.foresightinc.org
Where can I find the form 990 for Foresight Affordable Housing Inc?
Foresight Affordable Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.foresightinc.org
Learn more at the official website: www.foresightinc.org
Mission Statement of Foresight Affordable Housing Inc
Foresight Affordable Housing Inc, as its mission statement suggests, was established with the primary objective of providing high-quality, affordable housing to individuals and families with lower income levels. This nonprofit organization serves as a developer, consultant, and asset manager of Multifamily affordable housing communities, often utilizing HUD-insured or other types of mortgage financing. By offering these services, Foresight Affordable Housing Inc strives to make a significant impact in the lives of those who may otherwise struggle to secure suitable housing options. The organization's mission is a testament to its commitment to promoting accessibility and affordability in the real estate sector, thereby contributing to more equitable living conditions for a diverse population.
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Impact
July, 2024
Foresight Affordable Housing Inc's impact can be seen in its dedicated efforts to provide quality affordable housing to lower income individuals and families. By serving as a developer, consultant, and asset manager of multi-family affordable housing communities, the organization plays a vital role in ensuring that those in need have access to safe and affordable housing options. Through its project oversight and management services, Foresight Affordable Housing Inc contributes towards creating sustainable communities and improving the lives of the individuals and families it serves.
This information is meant to be a general summary of Foresight Affordable Housing 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: $340,229
- Program Service Revenue: $2,627,192
- Gross Receipts: $3,700,566
Assets and Liabilities:
- Total Assets: $39,444,822
- Total Liabilities: $9,420,680
- Net Assets: $30,024,142
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT REVENUE
Revenue
$2,592,192
OTHER FEE INCOME
Revenue
$20,000
MANAGEMENT FEES
Revenue
$15,000
Organization Details
Founding Year
1996
Phone
(609) 823-2500Principal Officer
Donald Reape
Main Address
6601 Ventnor Avenue Suite 23, Ventnor, NJ, 08406
Website
www.foresightinc.orgNTEE Category
Code: Z99 - Unknown
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