Overview
What is Key Boulevard Housing Development Corporation?
Key Boulevard Housing Development Corporation is a nonprofit organization situated in Arlington, Virginia, specifically at 2230 North Fairfax Drive 100. Their primary mission is to provide decent, safe, and affordable housing for individuals with low income. In their operations, they manage both market-rate apartments with no income requirements and affordable housing units, available for individuals earning up to 60% of the area median income. In 2021, a modest renovation was carried out, which included adding 5 additional units to their building. Their services encompass eviction prevention and rental assistance, as well as provision of groceries and food distribution for their residents.
Official website here: www.ahcinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 66%).
Key Boulevard Housing Development Corporation has received a Two-Star rating, indicating that there are areas needing significant enhancement. The organization's overall score reflects a solid program expense ratio of 91.58%, suggesting that a substantial portion of its resources is directed toward its mission-related activities. However, the lack of independent board members and the high liabilities to assets ratio of 81.90% raise concerns about financial governance and sustainability.
While the nonprofit exhibits strong practices in areas such as financial oversight, conflict of interest policy, and document retention, it struggles with transparency, as evidenced by the missing tax form on its website. This gap detracts from the organization's accountability score. The absence of independent board members could also hinder effective oversight and diminish public trust in its operations.
In summary, while Key Boulevard Housing Development Corporation demonstrates strengths in program expenses and financial oversight, addressing its governance structure and improving transparency will be crucial for enhancing its overall rating and public confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Key Boulevard Housing Development Corporation legitimate?
Key Boulevard Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Key Boulevard Housing Development Corporation 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: $64,297
For more financial information, click here
Official website here: www.ahcinc.org
What is the mission statement of Key Boulevard Housing Development Corporation?
The Key Boulevard Housing Development Corporation's mission is centered around assisting in the provision of decent, safe, and affordable housing for individuals with low income. This non-profit organization operates to ensure that affordable housing units are accessible, catering to individuals whose income does not exceed 60% of the area median income. In 2021, the corporation underwent a modest renovation, adding five additional units to its building. The corporation offers various resident services, including eviction prevention, rental assistance, and grocery and food distribution, to support its residents.
Official website here: www.ahcinc.org
Who is the CEO of Key Boulevard Housing Development Corporation?
Paul Bernard is the President of Key Boulevard Housing Development Corporation.
Official website here: www.ahcinc.org
What is the revenue of Key Boulevard Housing Development Corporation?
Key Boulevard Housing Development Corporation's revenue in 2022 was $750,768.
Official website here: www.ahcinc.org
Who are the executives of Key Boulevard Housing Development Corporation and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $224,463
- Other: $9,516
- Compensation: $0
- Related: $136,529
- Other: $7,164
- Compensation: $0
- Related: $258,482
- Other: $34,227
- Compensation: $0
- Related: $220,882
- Other: $180
- Compensation: $0
- Related: $275,734
- Other: $27,363
- Compensation: $0
- Related: $206,692
- Other: $21,809
- Compensation: $0
- Related: $191,624
- Other: $30,003
Official website here: www.ahcinc.org
Where can I find the form 990 for Key Boulevard Housing Development Corporation?
Key Boulevard Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ahcinc.org
Learn more at the official website: www.ahcinc.org
Mission Statement of Key Boulevard Housing Development Corporation
Key Boulevard Housing Development Corporation is an organization committed to assisting in the operations of decent, safe, and affordable housing for low-income individuals. In essence, their mission is to provide a home for those who might not otherwise have access to such living conditions due to financial constraints. The corporation operates a mix of market-rate apartments with no income qualifications and affordable apartments, which are available to individuals earning up to 60% of the area median income. In the year 2021, the corporation underwent a modest renovation, expanding its facilities by adding five new units to the building.
Beyond providing housing, Key Boulevard Housing Development Corporation also offers resident services to its tenants. These services include eviction prevention and rental assistance, as well as grocery and food distribution. By offering these additional services, the corporation seeks to support its residents in maintaining their housing and ensuring they have access to basic necessities. This holistic approach to housing and support is a testament to Key Boulevard Housing Development Corporation's dedication to improving the lives of low-income individuals.
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Impact
July, 2024
Key Boulevard Housing Development Corporation provides essential support to low-income individuals by offering safe and affordable housing options in Arlington, Virginia. Through its operations, Key Boulevard Housing Development Corporation ensures that those in need have access to decent housing, eviction prevention services, rental assistance, and even food distribution. This nonprofit organization plays a crucial role in addressing the housing challenges faced by low-income residents, ultimately contributing to the well-being and stability of the community.
This information is meant to be a general summary of Key Boulevard Housing Development Corporation. 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: $750,768
- Gross Receipts: $750,768
Assets and Liabilities:
- Total Assets: $3,492,815
- Total Liabilities: $2,860,938
- Net Assets: $631,877
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$740,843
OTHER INCOME
Revenue
$8,357
LAUNDRY INCOME
Revenue
$1,568
Organization Details
Founding Year
1983
Phone
(703) 486-0626Principal Officer
Paul Bernard
Main Address
2230 NORTH FAIRFAX DRIVE 100, ARLINGTON, VA, 22201
Website
www.ahcinc.orgNTEE Category
Code: L21 - Housing
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