Overview
What is Denton Affordable Housing Corporation?
Denton Affordable Housing Corporation is a nonprofit organization situated in Denton, Texas. Their primary mission is to expand the availability of affordable housing in the area, catering to various populations such as first-time homebuyers, individuals with disabilities, low-moderate income families, and homeless families with children. They achieve this by engaging in a range of activities, including acquisition, renovation, construction, promotion, financing, development, management, and operation of both rental and owner-occupied housing units. To offer additional support, they collaborate with various non-profit organizations to provide necessary services to their tenants, primarily those with special needs and homeless families. Their portfolio includes affordable residential rental properties, primarily leased to these targeted groups. As of the provided information, they have a staff of 4 individuals.
Official website here: www.dentonaffordablehousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating.
The Denton Affordable Housing Corporation has been rated with an 81% score, indicating a solid performance in accountability and finance. They excelled with a perfect score for having 100% independent board members and an independent board size of nine members. Their financial statements are audited, and they have no reported material diversion of assets, which underlines their commitment to transparency and governance.
The organization demonstrates a strong program expense ratio of 91.09%, reflecting a significant focus on its mission-related activities. It has robust policies in place, including a conflict of interest policy and a whistleblower policy, both of which are essential for ethical operation. However, the organization does have a higher liabilities to assets ratio of 72.14%, which may indicate financial risk that could be a concern for potential donors or stakeholders. Overall, while Denton Affordable Housing Corporation shows commendable strengths in governance and mission execution, its financial liabilities warrant attention.
This AI summary has been generated from information found on Charity Navigator.
Is Denton Affordable Housing Corporation legitimate?
Denton Affordable Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Denton Affordable Housing Corporation 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: $223,821
For more financial information, click here
Official website here: www.dentonaffordablehousing.org
What is the mission statement of Denton Affordable Housing Corporation?
The Denton Affordable Housing Corporation's mission is centered around increasing the availability of affordable housing in various forms. This includes acquiring, renovating, constructing, and managing both rental and owner-occupied properties. The corporation's primary focus is on supporting individuals with limited financial means, particularly first-time homebuyers, individuals with disabilities, low-moderate income families, and homeless families with children. As a Community Housing Development Organization, the corporation also plays a role in promoting, financing, and operating housing initiatives, thereby contributing to the overall improvement of housing conditions in the targeted population.
Official website here: www.dentonaffordablehousing.org
Who is the CEO of Denton Affordable Housing Corporation?
Jacob Moses is the Vice President of Denton Affordable Housing Corporation.
Official website here: www.dentonaffordablehousing.org
What is the revenue of Denton Affordable Housing Corporation?
Denton Affordable Housing Corporation's revenue in 2022 was $959,680.
Official website here: www.dentonaffordablehousing.org
Who are the executives of Denton Affordable Housing Corporation and what are their salaries?
The average compensation at Denton Affordable Housing Corporation during 2022 was $55,955. There are 4 employees at Denton Affordable Housing Corporation.
Here are 9 key members and their salaries:
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Official website here: www.dentonaffordablehousing.org
Where can I find the form 990 for Denton Affordable Housing Corporation?
Denton Affordable Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.dentonaffordablehousing.org
Learn more at the official website: www.dentonaffordablehousing.org
Mission Statement of Denton Affordable Housing Corporation
Denton Affordable Housing Corporation (DAHC) is committed to increasing the supply of affordable housing in various forms within its jurisdiction. This nonprofit organization undertakes activities such as acquisition, renovation, construction, development, management, operation, and maintenance of both rental and owner-occupied housing. Its primary focus is on providing housing for individuals with limited financial means, including disabled individuals, homeless individuals, and families with children. Additionally, DAHC targets first-time homebuyers and low- to moderate-income families. As a certified Community Housing Development Organization, DAHC promotes, finances, develops, manages, and operates rental housing and homes for first-time homebuyers, aiming to make housing more accessible for these populations.
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Impact
July, 2024
Denton Affordable Housing Corporation's impact is evident in the increased supply of affordable housing in the Denton area. Through their activities such as acquisition, renovation, construction, and management of rental and owner-occupied housing, they have provided housing opportunities for disabled individuals and homeless individuals with limited financial means. Additionally, their property management services cater to very low-income special needs tenants, including persons with disabilities and homeless families with children, ensuring these vulnerable populations have a stable place to call home. Overall, Denton Affordable Housing Corporation's efforts contribute to addressing the housing needs of first-time homebuyers, persons with disabilities, low to moderate-income families, and homeless families with children in the Denton community.
This information is meant to be a general summary of Denton Affordable Housing Corporation. 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: $73
- Program Service Revenue: $790,861
- Gross Receipts: $959,680
Assets and Liabilities:
- Total Assets: $4,539,728
- Total Liabilities: $3,275,383
- Net Assets: $1,264,345
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$790,861
Organization Details
Founding Year
1995
Phone
(940) 484-7048Principal Officer
Jacob Moses
Main Address
1104 DALLAS DRIVE SUITE 229, DENTON, TX, 76205
NTEE Category
Code: L25Z - Housing
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