Overview
What is Affordable Housing Resources Inc?
Affordable Housing Resources Inc, based in Nashville, Tennessee, is a dedicated nonprofit organization with a mission to foster affordable housing and thriving neighborhoods. Established over two decades ago, the nonprofit has been instrumental in laying the groundwork for successful homeownership within Middle Tennessee's workforce. With a strong commitment to low to moderate income families, Affordable Housing Resources Inc offers a range of programs designed to help these families become long-term homeowners. Their primary offerings include home buyer education and financial literacy programs, single-family housing development, and mortgage lending programs. Through these initiatives, the nonprofit has developed and sold over 1,500 single-family homes and assisted over 15,000 individuals in purchasing their first homes. Affordable Housing Resources Inc employs a team of 11 individuals who work tirelessly to fulfill this mission, ensuring that affordable housing remains a reality for many families in Middle Tennessee.
Official website here: www.ahrhousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Star rating)
Affordable Housing Resources Inc has received an overall rating of 86%, reflecting strong accountability and financial practices as measured by Charity Navigator. This score indicates a commitment to transparency and effective management, with notable achievements in areas such as independent board governance and financial oversight, evidenced by full marks in multiple categories.
The organization excels in maintaining a fully independent board and implementing effective financial policies, including having no instances of material asset diversion. Additionally, it demonstrates financial health with a high program expense ratio of 82.68%, indicating a significant portion of its resources is directed towards its mission.
However, there are areas where the organization could improve, particularly regarding its liabilities to assets ratio, which scored lower at 2 out of 25 points. Furthermore, the fundraising efficiency is noted as zero, suggesting potential challenges in fundraising strategies that could affect future financial stability. Overall, while the nonprofit shows strength in governance and program expenses, attention to financial liabilities and fundraising practices may enhance its impact.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Housing Resources Inc legitimate?
Affordable Housing Resources Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Housing Resources 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: $335,501
Professional Fundraising Fees: $0
Other Salaries and Wages: $369,595
For more financial information, click here
Official website here: www.ahrhousing.org
What is the mission statement of Affordable Housing Resources Inc?
Affordable Housing Resources Inc, as a non-profit organization, has a mission to establish affordable housing and foster strong neighborhoods. For over two decades, the institution has been laying the groundwork for successful home ownership among the workforce in Middle Tennessee. Committed to providing home ownership opportunities, Affordable Housing Resources Inc aims to empower low to moderate income families to become long-term homeowners. The organization achieves this through its primary programs: home buyer education and financial literacy, single family housing development, and mortgage lending. To date, Affordable Housing Resources Inc has developed and sold over 1,500 single-family homes and assisted over 15,000 individuals in purchasing their first homes.
Official website here: www.ahrhousing.org
Who is the CEO of Affordable Housing Resources Inc?
Eddie Latimer is the Director of Affordable Housing Resources Inc. The CEO's salary of Affordable Housing Resources Inc is $190,698 and their total compensation is $195,501.
Official website here: www.ahrhousing.org
What is the revenue of Affordable Housing Resources Inc?
Affordable Housing Resources Inc's revenue in 2022 was $4,202,801.
Official website here: www.ahrhousing.org
Who are the executives of Affordable Housing Resources Inc and what are their salaries?
The average compensation at Affordable Housing Resources Inc during 2022 was $64,100. There are 11 employees and 13 volunteers at Affordable Housing Resources Inc.
Here are 15 key members and their salaries (Affordable Housing Resources Inc's CEO's salary is $190,698 and their total compensation is $195,501):
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- Compensation: $190,698
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- Other: $4,803
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- Compensation: $138,248
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- Other: $1,752
Official website here: www.ahrhousing.org
Where can I find the form 990 for Affordable Housing Resources Inc?
Affordable Housing Resources Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ahrhousing.org
Learn more at the official website: www.ahrhousing.org
Mission Statement of Affordable Housing Resources Inc
Affordable Housing Resources Inc, a non-profit organization, is dedicated to creating affordable housing and fostering strong neighborhoods. With a two-decade-long history, this organization has been instrumental in laying the groundwork for successful home ownership among Middle Tennessee's workforce. Committed to providing home ownership opportunities for low to moderate income families, Affordable Housing Resources Inc aims to help these families establish long-term success as homeowners.
Through its primary initiatives, Affordable Housing Resources Inc has developed and sold over 1,500 single-family homes and assisted over 15,000 individuals in purchasing their first homes. The organization offers three main programs to achieve this mission. The first is a home buyer education and financial literacy program, which equips potential homeowners with the necessary knowledge and skills to navigate the home buying process. The second is single-family housing development, where Affordable Housing Resources Inc constructs and sells affordable homes to eligible families. Lastly, the organization operates a mortgage lending program, which offers affordable financing options to help low-income families become homeowners. By offering these comprehensive services, Affordable Housing Resources Inc has been instrumental in promoting successful home ownership among Middle Tennessee's workforce.
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Impact
July, 2024
Affordable Housing Resources Inc has had a significant impact on the Middle Tennessee community by providing affordable housing options and fostering strong neighborhoods. Over the past 20 years, the organization has helped over 15,000 individuals and families achieve their dream of homeownership through various programs such as home buyer education, single-family housing development, and mortgage lending. By developing and selling over 1,500 single-family homes, Affordable Housing Resources Inc has played a vital role in creating opportunities for low to moderate-income families to become successful homeowners in the long term.
This information is meant to be a general summary of Affordable Housing Resources 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: $621,651
- Program Service Revenue: $1,326,505
- Gross Receipts: $8,362,658
Assets and Liabilities:
- Total Assets: $25,997,448
- Total Liabilities: $17,291,863
- Net Assets: $8,705,585
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEES
Revenue
$784,256
LOAN INTEREST
Revenue
$352,269
NFMC INCOME
Revenue
$75,972
COUNSELING & MORTGAGE
Revenue
$72,059
RENTAL INCOME PROGRAM
Revenue
$41,949
Organization Details
Founding Year
1988
Phone
(615) 251-0025Principal Officer
Eddie Latimer
Main Address
50 VANTAGE WAY 107, NASHVILLE, TN, 37228
Website
www.ahrhousing.orgNTEE Category
Code: L20 - Housing
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