Overview
What is American Heritage Apartments Inc?
American Heritage Apartments Inc, situated in Texarkana, Texas, is a dedicated nonprofit organization primarily focused on providing quality affordable housing. They extend their services to low and very low-income individuals and families, allocating 35 units specifically for this purpose. Uniquely, their initiatives are self-funded, as they do not receive assistance from external sources to support their reduced rent program. The organization's mission is deeply rooted in ensuring accessibility to decent living spaces for those in need, making a significant impact on the local community.
Official website here: www.ahaproperties.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
American Heritage Apartments Inc has received a two-star rating from Charity Navigator, indicating that there are significant areas for improvement within the organization. With an overall score of 63%, the nonprofit shows some strengths in financial management, such as a perfect score in audit financial statements and a solid liabilities to assets ratio. However, the low scores in governance-related areas raise concerns about the organization's accountability and transparency.
The organization lacks independent board members and has not established key policies like conflict of interest and whistleblower protections, which are critical for maintaining trust and integrity. The absence of publicly accessible documents, such as their tax form on their website, further highlights transparency issues that could affect donor confidence.
While American Heritage Apartments Inc demonstrates financial responsibility in certain aspects, the significant shortcomings in governance and accountability practices need to be addressed to improve its overall effectiveness and reputation in the nonprofit sector. Enhancing these areas could lead to greater public trust and better organizational performance in the long run.
This AI summary has been generated from information found on Charity Navigator.
Is American Heritage Apartments Inc legitimate?
American Heritage Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. American Heritage Apartments 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: $849,698
Professional Fundraising Fees: $0
Other Salaries and Wages: $892,815
For more financial information, click here
Official website here: www.ahaproperties.com
What is the mission statement of American Heritage Apartments Inc?
American Heritage Apartments Inc is committed to providing quality affordable housing. They extend reduced rent to individuals and families who fall under the low-income and very low-income categories. The organization allocates 35 units specifically for this purpose, without relying on external funding sources to support this endeavor. Their mission is centered around making housing accessible and affordable for those in need.
Official website here: www.ahaproperties.com
Who is the CEO of American Heritage Apartments Inc?
William D Weitzel is the Vice President of American Heritage Apartments Inc.
Official website here: www.ahaproperties.com
What is the revenue of American Heritage Apartments Inc?
American Heritage Apartments Inc's revenue in 2022 was $4,069,211.
Official website here: www.ahaproperties.com
Who are the executives of American Heritage Apartments Inc and what are their salaries?
The average compensation at American Heritage Apartments Inc during 2022 was $44,680. There are 39 employees at American Heritage Apartments Inc.
Here are 7 key members and their salaries:
- Compensation: $440,574
- Related: $0
- Other: $0
- Compensation: $259,544
- Related: $0
- Other: $0
- Compensation: $149,580
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ahaproperties.com
Where can I find the form 990 for American Heritage Apartments Inc?
American Heritage Apartments Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ahaproperties.com
Learn more at the official website: www.ahaproperties.com
Mission Statement of American Heritage Apartments Inc
American Heritage Apartments Inc, as a nonprofit organization, is dedicated to providing quality affordable housing. They accomplish this by offering reduced rent to individuals and families categorized as low and very low income. In line with their commitment, they reserve 35 units within their complex for this purpose. Notably, American Heritage Apartments Inc does not receive any funding from external sources to aid in this endeavor. They are self-sufficient in their mission to make affordable housing a reality for those who require it most.
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Impact
July, 2024
American Heritage Apartments Inc's impact lies in providing quality affordable housing to low and very low-income individuals and families in Texarkana, TX. This organization dedicates 35 units to this purpose, offering reduced rent to those in need. They do not receive any external funding to support this endeavor, showcasing their commitment to serving the community and making a direct difference in the lives of those facing financial challenges. By offering affordable housing options, American Heritage Apartments Inc contributes to addressing the housing needs of vulnerable populations and helps create a more inclusive and supportive community environment.
This information is meant to be a general summary of American Heritage Apartments 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: $1,275,666
- Program Service Revenue: $2,683,734
- Gross Receipts: $4,069,211
Assets and Liabilities:
- Total Assets: $48,564,137
- Total Liabilities: $3,359,792
- Net Assets: $45,204,345
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Unit Rental Income
Revenue
$1,687,398
Purchase options
Revenue
$632,343
Utilities and cleaning
Revenue
$353,263
Application fees
Revenue
$10,730
Organization Details
Founding Year
1992
Phone
(903) 832-3000Principal Officer
William D Weitzel
Main Address
1430 College Dr, Texarkana, TX, 75503
Website
www.ahaproperties.comNTEE Category
Code: L25 - Housing
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