Overview
What is Affordable Housing Institute Inc?
Affordable Housing Institute Inc, based in Orlando, Florida, is a dedicated nonprofit organization that aims to alleviate governmental burdens by offering housing solutions for financially distressed seniors. They achieve this objective by identifying and transforming multi-family and suitable housing stock into affordable dwellings for low-income citizens. One of their successful projects, Landings at Sea Forest, is a senior citizen facility, with 60% of its units earmarked for individuals with 60% or less of the average median income. Currently, this property is 96% occupied, fulfilling its intended purpose of providing housing relief for seniors in Pasco County, Florida. The organization operates as an 80% general partner in Landings at Sea Forest, Ltd.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 60%, Two-Star out of Four Star rating
The Affordable Housing Institute Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. This rating is primarily based on a single beacon score, with strengths highlighted by a fully independent board, which scored 8 out of 8 points. Additionally, the organization demonstrates a favorable liabilities to assets ratio of 27.37%, reflecting a solid financial standing.
However, several significant limitations affect the overall rating. The organization lacks financial statements, a conflict of interest policy, a whistleblower policy, and proper documentation practices, each scoring zero points. Furthermore, it has not made its website accessible on the tax form, which can hinder transparency and accountability.
Despite these shortcomings, the Affordable Housing Institute Inc shows a 100% program expense ratio, indicating that all financial resources are directed towards its programs. This commitment to program expenses underscores its mission, but addressing the noted governance and transparency issues would strengthen its overall rating and credibility among supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Housing Institute Inc legitimate?
Affordable Housing Institute Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Housing Institute 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: $728,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Affordable Housing Institute Inc?
The Affordable Housing Institute Inc's mission is to identify opportunities to enhance and improve multi-family housing units, with a focus on providing clean, decent, and sanitary living spaces for low-income citizens. Their aim is to alleviate government burdens by providing affordable housing. The organization has successfully achieved this through projects like the Landings at Sea Forest, a senior citizen facility where 60% of the units are reserved for individuals with 60% or less of the average median income. This project, currently 96% leased, has fulfilled its purpose of offering housing to financially distressed seniors in need.
Who is the CEO of Affordable Housing Institute Inc?
Bryan Hartnett is the President of Affordable Housing Institute Inc.
What is the revenue of Affordable Housing Institute Inc?
Affordable Housing Institute Inc's revenue in 2021 was $1,123,892.
Who are the executives of Affordable Housing Institute Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $525,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $203,000
- Related: $0
- Other: $0
Where can I find the form 990 for Affordable Housing Institute Inc?
Affordable Housing Institute Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Affordable Housing Institute Inc
Affordable Housing Institute Inc, a nonprofit organization, is committed to alleviating the burden on the government by providing affordable housing for financially distressed seniors. Their mission is to identify opportunities to convert and enhance multi-family housing stock, aiming to offer clean, decent, and sanitary living spaces to low-income citizens. By doing so, the Institute seeks to fulfill its purpose of providing a home for seniors, thereby reducing the government's responsibilities in this area. For instance, the Landings at Sea Forest, a senior citizen facility owned by Landings at Sea Forest, Ltd, a partnership in which Affordable Housing Institute, Inc. is an 80% general partner, has successfully leased 96% of its units, providing housing for seniors in need.
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Impact
July, 2024
Affordable Housing Institute Inc's impact is evident in its successful initiative to lessen the burdens of government by providing housing for financially distressed seniors. Through their affordable housing projects, such as the Landings at Sea Forest in Orlando, Florida, the organization has created a senior citizen facility with a significant portion of units reserved for individuals with 60% or less of the average median income. This property has effectively fulfilled its intended purpose by offering housing to seniors in Pasco County, FL, and is currently 96% leased. By identifying opportunities to convert and improve multi-family housing, Affordable Housing Institute Inc is ensuring that low-income citizens have access to clean, decent, and sanitary living environments. Their impactful work in the realm of human services is making a tangible difference in the lives of those in need of affordable housing solutions.
This information is meant to be a general summary of Affordable Housing Institute 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 2021.
- Investment Income: $225
- Program Service Revenue: $598,263
- Gross Receipts: $2,238,529
Assets and Liabilities:
- Total Assets: $1,595,981
- Total Liabilities: $399,230
- Net Assets: $1,196,751
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE
Revenue
$403,700
DEVELOPER FEE
Revenue
$177,009
CONSULTING
Revenue
$17,554
Organization Details
Founding Year
1993
Phone
(407) 895-1168Principal Officer
Bryan Hartnett
Main Address
2121 CAMDEN ROAD B, ORLANDO, FL, 32803
NTEE Category
Code: P80 - Human services
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