Overview
What is Franklin Affordable Housing Corp?
Franklin Affordable Housing Corp, based in Franklin, Kentucky, is a dedicated nonprofit organization. Their primary mission is to manage and maintain affordable housing for the city's low-income residents. Specifically, they oversee the provision of housing that meets HUD standards and also manage a low-income housing development within the city. Their work aims to ensure that low-income individuals in Franklin have access to suitable housing, enhancing the living conditions and quality of life for this community segment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement. Overall Score: 63%. Franklin Affordable Housing Corp received a two-star rating, indicating some concerns regarding its financial health and program efficiency. While the organization boasts a fully independent board, sound conflict of interest policies, and no reported asset diversions, its program expense ratio is notably low at 50.62%, which raises questions about the effectiveness of its spending.
The nonprofit excels in governance, with a perfect score for board independence and size, as well as strong accountability practices. Their policies on document retention, conflict of interest, and board meeting transparency are well established. This foundation signifies a level of commitment to responsible management and operational integrity.
However, the low score in program expense ratio suggests that a significant portion of resources may not be directed toward direct program services. This could limit the organization's impact in addressing affordable housing needs. Moving forward, Franklin Affordable Housing Corp may benefit from reassessing its financial strategies to enhance program delivery and overall effectiveness, ensuring it meets the community's needs effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Franklin Affordable Housing Corp legitimate?
Franklin Affordable Housing Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Franklin 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: $6,400
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Franklin Affordable Housing Corp?
Franklin Affordable Housing Corp is committed to providing and maintaining affordable housing for low-income individuals. They oversee a low-income housing development within their jurisdiction, ensuring that the housing meets the standards set by the HUD. The organization is responsible for managing and maintaining these housing units, ensuring a comfortable living environment for its residents. Their mission is centered around providing housing solutions for individuals who may otherwise struggle to afford adequate housing.
Who is the CEO of Franklin Affordable Housing Corp?
Jolie Brown is the Chairperson of Franklin Affordable Housing Corp.
What is the revenue of Franklin Affordable Housing Corp?
Franklin Affordable Housing Corp's revenue in 2023 was $90,521.
Who are the executives of Franklin Affordable Housing Corp and what are their salaries?
There 5 volunteers at Franklin Affordable Housing Corp.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Franklin Affordable Housing Corp?
Franklin Affordable Housing Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Franklin Affordable Housing Corp
Franklin Affordable Housing Corp, as a non-profit organization, is committed to providing and maintaining housing for individuals with low income within their community. This organization is responsible for ensuring that the housing they manage adheres to the standards set by the HUD. Their mission extends beyond just providing shelter, as they also oversee a low-income housing development within Franklin KY. By managing and maintaining these housing units, Franklin Affordable Housing Corp aims to contribute positively to the lives of those in need, providing them with a safe and suitable living environment.
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Impact
October, 2024
Franklin Affordable Housing Corp plays a crucial role in the community by providing and managing low-income housing in Franklin, Kentucky. By ensuring affordable housing options, they directly support low-income residents, enabling them to secure stable living conditions. The organization oversees a housing development that adheres to HUD standards, guaranteeing that the facilities are well-maintained and safe. This commitment not only alleviates housing insecurity but also fosters a sense of community among residents by providing them with quality living spaces. Through their efforts, Franklin Affordable Housing Corp contributes significantly to the overall well-being and stability of the local population.
This information is meant to be a general summary of Franklin 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 2023.
- Investment Income: $4,742
- Program Service Revenue: $56,068
- Gross Receipts: $197,156
Assets and Liabilities:
- Total Assets: $1,783,633
- Total Liabilities: $707,390
- Net Assets: $1,076,243
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE INCOME
Revenue
$51,992
MISCELLANEOUS
Revenue
$4,076
Organization Details
Founding Year
2001
Phone
(270) 586-8500Principal Officer
Jolie Brown
Main Address
1301 CRESTMORE DRIVE, FRANKLIN, KY, 42134
NTEE Category
Code: L21 - Housing
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