Overview
What is Aofhouston Affordable Housing Corp?
Aofhouston Affordable Housing Corp is a 501(c)(3) nonprofit organization, primarily based in Texas. Their mission is to provide high-quality, affordable housing for moderate to low-income households and the elderly. They achieve this by acquiring and operating apartment complexes, leasing them to eligible residents who meet specific financial requirements. The corporation's activities encompass acquiring and rehabilitating properties to accommodate low-income, elderly, and/or mentally or physically disabled individuals or families. Their focus on affordable housing contributes positively to the community, ensuring accessibility for those who may otherwise struggle to secure suitable housing.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 79%, Three-Star out of Four Star rating.
Aofhouston Affordable Housing Corp has achieved a 79% rating on Charity Navigator, indicating a solid performance in terms of accountability and finance. This score reflects the organization's strong commitment to transparency and responsible financial management, particularly highlighted by its perfect scores in several areas including financial audits and the presence of a conflict of interest policy.
The organization benefits from having a majority of independent board members and maintains a high program expense ratio of 94.09%, suggesting that a significant portion of its resources is directed towards its mission. However, it faces challenges with a liabilities to assets ratio of 129.50%, which points to financial stress that could potentially impact its sustainability and operations.
While Aofhouston Affordable Housing Corp demonstrates a strong adherence to accountability standards, the concerns regarding its liabilities indicate a need for strategic financial planning. Overall, the organization is functioning effectively, but it may require scrutiny regarding its financial health moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Aofhouston Affordable Housing Corp legitimate?
Aofhouston Affordable Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Aofhouston Affordable Housing Corp 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: $553,914
For more financial information, click here
What is the mission statement of Aofhouston Affordable Housing Corp?
Aofhouston Affordable Housing Corp, as a 501(c)(3) non-profit organization, is dedicated to providing high-quality, affordable housing for moderate to low-income households and the elderly. Their primary mission involves acquiring and operating apartment complexes that cater to individuals and families who meet specific financial requirements. The corporation's aim is to ensure that these apartments are leased only to eligible residents. The organization operates two such apartment complexes, specifically designed for low-income and/or mentally or physically disabled individuals or families, promoting inclusive and affordable housing options.
Who is the CEO of Aofhouston Affordable Housing Corp?
Philip J Kennedy is the Treasurer, Trustee of Aofhouston Affordable Housing Corp.
What is the revenue of Aofhouston Affordable Housing Corp?
Aofhouston Affordable Housing Corp's revenue in 2021 was $5,667,158.
Who are the executives of Aofhouston Affordable Housing Corp and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $513,500
- Other: $63,443
- Compensation: $0
- Related: $278,750
- Other: $59,622
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Aofhouston Affordable Housing Corp?
Aofhouston Affordable Housing Corp's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Aofhouston Affordable Housing Corp
Aofhouston Affordable Housing Corp, a 501(c)(3) non-profit organization, is dedicated to providing high-quality, affordable housing for moderate to low-income households and the elderly. Their mission primarily involves acquiring and operating apartment complexes, leasing units to residents who meet specific financial requirements. This non-profit corporation is organized with the intent to accommodate low-income, elderly, and/or mentally or physically disabled individuals or families, ensuring they have a suitable place to call home. By operating two such apartment complexes, Aofhouston Affordable Housing Corp. contributes significantly to the housing needs of these vulnerable communities, offering them a secure and affordable living space.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Aofhouston Affordable Housing Corp's impact can be seen in its dedication to providing high-quality, affordable housing for moderate to low-income households and the elderly in Texas. By acquiring and operating apartment complexes that lease to residents meeting specific financial requirements, the organization plays a crucial role in addressing the housing needs of vulnerable populations. The operation of two apartment complexes for low-income and/or mentally or physically disabled persons or families in Atlanta, GA, showcases Aofhouston Affordable Housing Corp's commitment to improving access to safe and stable housing for those in need.
This information is meant to be a general summary of Aofhouston Affordable Housing Corp. 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 2021.
- Investment Income: $5,136
- Program Service Revenue: $5,662,022
- Gross Receipts: $5,667,158
Assets and Liabilities:
- Total Assets: $34,585,201
- Total Liabilities: $44,787,948
- Net Assets: -$10,202,747
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$5,660,603
LAUNDRY AND VENDING
Revenue
$1,419
Organization Details
Founding Year
1999
Phone
(770) 937-0377Principal Officer
Philip J Kennedy
Main Address
1000 PARKWOOD CIRCLE SE NO 320, ATLANTA, GA, 30339
NTEE Category
Code: L200 - Housing
If you are a representative of Aofhouston Affordable Housing Corp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.