Overview
What is Alt Affordable Housing Services Inc - Arbor Place?
Alt Affordable Housing Services Inc - Arbor Place is a nonprofit organization situated in San Antonio, Texas, primarily devoted to providing affordable housing. They manage Arbor Place Apartments, a 84-unit complex, ensuring compliance with multifamily housing revenue bonds issued by the San Antonio Housing Finance Corporation in 1995. Additionally, they oversee the La Risa Apartments project, offering 237 affordable housing units to very low-income and low-income families. Compliance with regulations from the U.S. Department of Housing and Urban Development (HUD) and the Texas Department of Housing and Community Affairs (TDHCA) is maintained, ensuring the availability of tax credits for investors. Their mission is to provide a clean, safe living environment for their low to moderate income residents, fulfilling their duty as a nonprofit corporation.
Official website here: www.prosperahcs.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star rating.
Alt Affordable Housing Services Inc - Arbor Place demonstrates exceptional performance in accountability and finance, reflected in its impressive 97% overall score. The organization boasts a fully independent board, with 100% of its members ensuring unbiased governance. It also has no material diversion of assets and has robust policies in place for conflict of interest, whistleblower protection, and document retention, which contribute to its strong ethical standing.
The nonprofit shows a commendable commitment to its mission with a program expense ratio of 80.15%, indicating that a significant portion of its funds directly supports its programs. Additionally, the liabilities to assets ratio of 25.95% suggests a solid financial footing, allowing it to effectively manage its resources while fulfilling its goals. Overall, Alt Affordable Housing Services Inc - Arbor Place exemplifies best practices in nonprofit management and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Alt Affordable Housing Services Inc - Arbor Place legitimate?
Alt Affordable Housing Services Inc - Arbor Place is a legitimate nonprofit organization registered as a 501(c)(3) entity. Alt Affordable Housing Services Inc - Arbor Place 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: $73,801
For more financial information, click here
Official website here: www.prosperahcs.org
What is the mission statement of Alt Affordable Housing Services Inc - Arbor Place?
Alt Affordable Housing Services Inc, specifically for Arbor Place, is dedicated as a nonprofit corporation to provide affordable housing for individuals with low to moderate income levels. Their mission is to ensure a clean and safe living environment that residents can take pride in, considering it their home. The organization continues to operate Arbor Place Apartments, offering low-income housing, while also playing a role in the operation of the LRA Project, providing 237 affordable housing units for very low-income and low-income families. To maintain compliance with regulations from the U.S. Department of Housing and Urban Development (HUD) and the Texas Department of Housing and Community Affairs (TDHCA), the organization ensures the availability of tax credits for investors, adhering to Internal Revenue Code Section 42. They further offer programs, activities, and services for the youth and adult residents.
Official website here: www.prosperahcs.org
Who is the CEO of Alt Affordable Housing Services Inc - Arbor Place?
Jerry Du Terroil is the Director of Alt Affordable Housing Services Inc - Arbor Place.
Official website here: www.prosperahcs.org
What is the revenue of Alt Affordable Housing Services Inc - Arbor Place?
Alt Affordable Housing Services Inc - Arbor Place's revenue in 2022 was $488,549.
Official website here: www.prosperahcs.org
Who are the executives of Alt Affordable Housing Services Inc - Arbor Place and what are their salaries?
Here are 6 key members and their salaries:
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- Other: $0
- Compensation: $18,500
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.prosperahcs.org
Where can I find the form 990 for Alt Affordable Housing Services Inc - Arbor Place?
Alt Affordable Housing Services Inc - Arbor Place's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.prosperahcs.org
Learn more at the official website: www.prosperahcs.org
Mission Statement of Alt Affordable Housing Services Inc - Arbor Place
Alt Affordable Housing Services Inc - Arbor Place, as a nonprofit corporation, is committed to providing affordable housing to individuals with low to moderate incomes. Their mission is to create a clean and safe living environment that these individuals can take pride in, considering it their home. The organization achieves this by maintaining property operations in compliance with certain regulations, ensuring the availability of tax credits for investors, and adhering to the guidelines set by the Internal Revenue Service and the U.S. Department of Housing and Urban Development.
By owning and operating the Arbor Place Apartments, an 84-unit apartment complex in Texas, Alt Affordable Housing Services Inc - Arbor Place provides low-income housing. They have also extended their affordable housing provisions through their involvement in the LRA Project, which offers 237 units to very low-income and low-income families. The organization's diligent approach to property management ensures compliance with relevant regulations, ensuring that the affordable housing they offer meets high standards of safety and cleanliness. By adhering to these guidelines, Alt Affordable Housing Services Inc - Arbor Place fulfills its mission of providing an affordable and safe living environment for individuals with limited financial resources.
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Impact
July, 2024
Alt Affordable Housing Services Inc - Arbor Place's impact is evident in its provision of affordable housing to low to moderate-income individuals in San Antonio, Texas. Through owning and operating Arbor Place Apartments, an 84-unit complex, the organization ensures that its residents have access to safe and clean housing. Additionally, as the sole member of VDC Babcock GP, LLC, which operates La Risa Apartments providing 237 affordable housing units, the organization continues to serve very low-income and low-income families in compliance with HUD regulations. By maintaining property operations according to the guidelines set by various housing authorities and providing programs and services for residents, Alt Affordable Housing Services Inc - Arbor Place contributes to addressing the housing needs of the community.
This information is meant to be a general summary of Alt Affordable Housing Services Inc - Arbor Place. 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.
- Program Service Revenue: $488,549
- Gross Receipts: $488,549
Assets and Liabilities:
- Total Assets: $350,221
- Total Liabilities: $16,734
- Net Assets: $333,487
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$293,659
DEVELOPER FEE
Revenue
$187,767
OTHER RENTAL INCOME
Revenue
$7,123
Organization Details
Founding Year
1993
Phone
(210) 821-4363Principal Officer
Jerry Du Terroil
Main Address
3419 NACOGDOCHES ROAD, SAN ANTONIO, TX, 78217
Website
www.prosperahcs.orgNTEE Category
Code: L20 - Housing
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