Overview
What is Affordable Central Texas Inc?
Affordable Central Texas Inc, a charitable organization based in Austin, Texas, is dedicated to preserving affordable housing for moderate and lower-income households in the area. With significant involvement and initial funding from the City of Austin, the nonprofit aims to establish and manage a strategic fund. This fund will involve the acquisition, renovation, and long-term maintenance of existing multi-family buildings, thus ensuring their affordability. The organization's mission is multifaceted, aiming to alleviate government burdens, support the less fortunate, eliminate neighborhood tensions, combat discrimination, and promote community development. Operating from its headquarters at 6000 N Lamar Blvd Suite 200, Austin, TX 78752, Affordable Central Texas Inc is an integral part of addressing housing challenges in the city.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Stars)
Affordable Central Texas Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance across various accountability and finance metrics. With an Accountability & Finance Score of 93 and perfect scores in Culture & Community, as well as Leadership & Adaptability, the organization demonstrates a solid commitment to transparency and effective leadership. Additionally, the organization boasts a healthy program expense ratio of 73.84%, indicating that a significant portion of its funds are directed towards its mission.
The nonprofit's governance structure is robust, with 85% of its board members being independent, which enhances its accountability. The organization has also established effective policies in areas such as conflict of interest and whistleblower protections, further showcasing its dedication to ethical management. The financial oversight is underscored by a strong audit and oversight committee, receiving full marks for its financial statements.
While the organization's strengths are notable, potential donors and stakeholders should be aware of its adaptability to external changes, which the organization has navigated effectively. Overall, Affordable Central Texas Inc demonstrates strong financial health and a commitment to community impact, making it a reliable choice for those looking to support nonprofit initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Central Texas Inc legitimate?
Affordable Central Texas Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Central Texas 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: $630,700
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,291
For more financial information, click here
What is the mission statement of Affordable Central Texas Inc?
Affordable Central Texas Inc, a charitable organization, is committed to serving moderate and lower-income households. Its primary goal is to preserve the availability of affordable housing in Austin, Texas, which also includes supporting working families at the lower end of the economic spectrum. The organization operates with a mission to alleviate societal burdens, provide relief to the distressed and underprivileged, reduce neighborhood tensions, combat prejudice and discrimination, and combat community deterioration.
Who is the CEO of Affordable Central Texas Inc?
David Steinwedell is the Board Treasurer of Affordable Central Texas Inc. The CEO's salary of Affordable Central Texas Inc is $250,000 and their total compensation is $250,000.
What is the revenue of Affordable Central Texas Inc?
Affordable Central Texas Inc's revenue in 2022 was $2,213,857.
Who are the executives of Affordable Central Texas Inc and what are their salaries?
The average compensation at Affordable Central Texas Inc during 2022 was $157,998. There are 4 employees and 6 volunteers at Affordable Central Texas Inc.
Here are 10 key members and their salaries (Affordable Central Texas Inc's CEO's salary is $250,000 and their total compensation is $250,000):
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- Compensation: $250,000
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- Other: $0
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- Compensation: $144,550
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- Other: $0
- Compensation: $141,150
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- Other: $0
- Compensation: $95,000
- Related: $0
- Other: $0
Where can I find the form 990 for Affordable Central Texas Inc?
Affordable Central Texas Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Affordable Central Texas Inc
Affordable Central Texas, Inc. is a charitable organization that operates with a mission to preserve and maintain housing that is affordable for moderate and lower-income households in Austin, Texas. This community-focused organization is dedicated to alleviating the burdens placed on government, providing relief to the distressed, underprivileged, and poor, reducing neighborhood tensions, combating prejudice and discrimination, and addressing community deterioration. In essence, Affordable Central Texas, Inc. aims to contribute to the betterment of its community by addressing housing affordability issues and promoting social equality.
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Impact
July, 2024
Affordable Central Texas Inc is making a significant impact by preserving the supply of housing that is affordable to moderate and lower-income households in Austin, Texas. Specifically, the organization is dedicated to strategically acquiring, renovating, and managing existing multi-family buildings to make them affordable for the long term. This initiative aligns with the Austin Strategic Housing Plan, a comprehensive strategy developed by the city of Austin to address housing challenges in the area. By providing affordable housing options for working households at the lower end of the economic spectrum, Affordable Central Texas Inc is helping to lessen the burdens of government, relieve the poor and distressed, combat community deterioration, and promote inclusivity and equality within the community.
This information is meant to be a general summary of Affordable Central Texas 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: $1,209
- Program Service Revenue: $550,451
- Gross Receipts: $2,213,857
Assets and Liabilities:
- Total Assets: $2,125,083
- Total Liabilities: $781,786
- Net Assets: $1,343,297
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ACQUISITION FEES
Revenue
$333,000
ASSET MANAGEMENT FEES
Revenue
$293,382
FT K1 - AHC
Revenue
-$75,931
Organization Details
Founding Year
2016
Phone
(512) 202-7997Principal Officer
David Steinwedell
Main Address
6000 N LAMAR BLVD SUITE 200, AUSTIN, TX, 78752
NTEE Category
Code: L02 - Housing
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