Overview
What is African American Alliance For Homeownership?
The African American Alliance for Homeownership (AAAH) is a nonprofit organization situated in Portland, Oregon. Their primary mission is to foster homeownership and economic stability among African Americans and other underserved individuals. They achieve this by providing accessible advocacy, awareness, and education. A key aspect of their work involves assigning pre-purchase, HUD-certified counselors who guide clients through the home-buying process. These counselors assist clients in becoming mortgage-ready, creating a monthly budget, and saving plans, as well as helping them repair their homes. The organization's IDA program, in high demand, aids clients in preparing for homeownership, with a current waiting list of 15 participants. Last year, AAAH received an annual reward higher than the previous year, enabling them to assist more clients. Over 500 households improved their mortgage readiness, and 80 became mortgage-ready during the year. AAAH continues to identify additional resources, and offers an opportunity to extend assistance to some clients for up to five years, providing extra time to save money and increase matched funds.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. This rating indicates some areas of strength, particularly in accountability and financial management, but also highlights significant deficiencies that impact the overall assessment.
The African American Alliance for Homeownership demonstrates notable strengths, such as having a fully independent board with 100% of its members meeting independence criteria. Additionally, the organization maintains a low liabilities to assets ratio of 3.41%, indicating solid financial health, and it allocates a high percentage of its expenses, 94.31%, directly towards its programs, showcasing a strong commitment to its mission.
However, the organization faces limitations, particularly in the area of transparency, as it has not provided financial statements or posted its tax forms on its website. Furthermore, the lack of a whistleblower policy and a document retention policy raises concerns about governance practices. These issues contribute to the overall Two-Star rating and suggest potential areas for improvement in transparency and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is African American Alliance For Homeownership legitimate?
African American Alliance For Homeownership is a legitimate nonprofit organization registered as a 501(c)(3) entity. African American Alliance For Homeownership 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: $397,475
For more financial information, click here
What is the mission statement of African American Alliance For Homeownership?
The African American Alliance For Homeownership's mission is centered around enhancing homeownership and financial stability for African Americans and other underserved individuals. They achieve this by offering access to advocacy, awareness, and education. The organization assists its clients through a pre-purchase, HUD-certified counselor, guiding them through the home buying process. Counselors help clients become mortgage-ready, develop a monthly budget and savings plan, and repair their homes. The IDA program, in high demand, continues to improve, allowing the alliance to assist more clients in preparing for homeownership. During the year, over 500 households improved their mortgage readiness, and 80 households became mortgage-ready. The alliance is currently exploring additional resources to further support its clients.
Who is the CEO of African American Alliance For Homeownership?
Cheryl Roberts is the Executive Director of African American Alliance For Homeownership.
What is the revenue of African American Alliance For Homeownership?
African American Alliance For Homeownership's revenue in 2022 was $1,373,668.
Who are the executives of African American Alliance For Homeownership and what are their salaries?
The average compensation at African American Alliance For Homeownership during 2022 was $79,495. There are 5 employees at African American Alliance For Homeownership.
Here are 5 key members and their salaries:
- Compensation: $99,000
- 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
Where can I find the form 990 for African American Alliance For Homeownership?
African American Alliance For Homeownership's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of African American Alliance For Homeownership
The African American Alliance for Homeownership (AAAH) is dedicated to enhancing homeownership and financial stability among African Americans and other underserved individuals. They achieve this goal by providing access to advocacy, awareness, and education. The organization's mission is multifaceted, aiming to empower its clients by guiding them through the home buying process. AAH employs HUD-certified counselors who assist clients in becoming mortgage-ready, creating a monthly budget, and saving plans. Furthermore, they help clients repair their homes, ensuring they are in the best possible position to become homeowners.
The demand for AAH's services has been substantial, leading to an overwhelming waitlist of 15 participants. This high demand has also resulted in an annual reward higher than the previous year, enabling the organization to assist more clients in their journey towards homeownership. In the past year, over 500 households improved their mortgage readiness, and 80 households became mortgage-ready. Recognizing the continued need for such services, AAH is actively seeking to couple its resources with other organizations, with the potential to extend assistance to clients for up to five years. This extended period allows clients additional time to save money and increase their matched funds, ultimately increasing their chances of becoming homeowners.
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Impact
July, 2024
The African American Alliance For Homeownership has a significant impact on increasing homeownership and economic stability for African Americans and other underserved individuals. By providing access to advocacy, awareness, and education, AAAH offers pre-purchase counseling services to guide clients through the home buying process. Their HUD-certified counselors help clients become mortgage-ready, develop monthly budgets and savings plans, and assist in home repairs.
With a waiting list of 15 participants and an increase in annual rewards, AAAH is able to reach more clients and prepare them for homeownership. During the year, over 500 households improved their mortgage readiness, and 80 households became mortgage-ready with the help of AAAH. By identifying additional resources and extending some clients' programs to 5 years, AAAH is providing valuable support in increasing matched funds for their clients.
Overall, the African American Alliance For Homeownership's impact is tangible and essential in empowering individuals to achieve homeownership and economic stability, particularly within the African American community.
This information is meant to be a general summary of African American Alliance For Homeownership. 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: $35,320
- Gross Receipts: $1,373,668
Assets and Liabilities:
- Total Assets: $631,888
- Total Liabilities: $114,210
- Net Assets: $517,678
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOMEBUYER FAIR
Revenue
$13,350
HOMEBUYER CLASSES
Revenue
$2,130
CREDIT REPORTS
Revenue
$4,675
OTHER PROGRAM SERVICES
Revenue
$15,165
Organization Details
Founding Year
2005
Principal Officer
Cheryl Roberts
Main Address
825 NE 20TH AVE PORTLAND OR STE 225, PORTLAND, OR, 97232
NTEE Category
Code: L80 - Housing
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