Overview
What is Ph Affordable Housing Fund Inc?
The PH Affordable Housing Fund Inc is a nonprofit organization dedicated to fostering affordable housing, low-income, and supportive housing projects, as well as community development initiatives. They offer financial aid, advisory support, and legal assistance to organizations involved in these projects. During the pre-development stage of an affordable housing project, the fund generates income from existing rental sources while revitalizing the area. Moreover, PH Affordable Housing Fund Inc provides financial assistance for low-income housing activities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 49%, Zero-Star out of Four Star rating.
The Ph Affordable Housing Fund Inc has received a low score of 49%, indicating significant concerns regarding its accountability and financial management. The organization has no independent board members, which raises questions about oversight and governance. Additionally, the absence of financial statements further diminishes transparency, reflecting poorly on its financial practices.
Despite these governance issues, the organization does show strengths in certain areas, such as maintaining a program expense ratio of 100%, which suggests that all its expenses are directed towards its programs. Furthermore, it has established a conflict of interest policy, a whistleblower policy, and a document retention policy, indicating some level of internal governance practices is in place.
However, the overall financial health of the organization is troubling, with a liabilities to assets ratio of 99.25%. This suggests that the organization is heavily burdened by debt. Additionally, the high salaries of key persons, such as the President/CEO earning over $800,000, may raise concerns about resource allocation in relation to its mission of affordable housing.
This AI summary has been generated from information found on Charity Navigator.
Is Ph Affordable Housing Fund Inc legitimate?
Ph Affordable Housing Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ph Affordable Housing Fund 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Ph Affordable Housing Fund Inc?
The Ph Affordable Housing Fund Inc is committed to supporting and promoting affordable housing, low-income, and supportive housing projects. This non-profit organization provides loans, grants, and advisory support to organizations engaged in such initiatives. During the pre-development phase of affordable housing projects, the fund generates income from existing rental sources to revitalize the area. Additionally, the Ph Affordable Housing Fund Inc offers financial assistance for low-income housing activities, contributing to the betterment of communities and providing affordable housing options for those in need.
Who is the CEO of Ph Affordable Housing Fund Inc?
Adam Weinstein is the President/Ceo of Ph Affordable Housing Fund Inc. The CEO's salary of Ph Affordable Housing Fund Inc is $0 and their total compensation is $968,887.
What is the revenue of Ph Affordable Housing Fund Inc?
Ph Affordable Housing Fund Inc's revenue in 2022 was $568,716.
Who are the executives of Ph Affordable Housing Fund Inc and what are their salaries?
Here are 3 key members and their salaries (Ph Affordable Housing Fund Inc's CEO's salary is $0 and their total compensation is $968,887):
- Compensation: $0
- Related: $806,771
- Other: $162,116
- Compensation: $0
- Related: $340,062
- Other: $74,966
- Compensation: $0
- Related: $316,782
- Other: $69,454
Where can I find the form 990 for Ph Affordable Housing Fund Inc?
Ph Affordable Housing Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ph Affordable Housing Fund Inc
The Philadelphia Affordable Housing Fund Inc, in its mission, works towards supporting and promoting affordable housing, low-income, and supportive housing projects. This nonprofit organization provides loans, grants, and advisory support to organizations involved in such endeavors. During the initial stages of an affordable housing project, the Fund generates rental income from existing sources, contributing to the revitalization of the area. Furthermore, the Fund offers financial backing for low-income housing activities. By engaging in these initiatives, the Philadelphia Affordable Housing Fund Inc plays a pivotal role in fostering community development.
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Impact
July, 2024
Ph Affordable Housing Fund Inc's impact is significant in the realm of affordable housing and community development initiatives. By supporting and promoting affordable housing, low-income, and supportive housing projects, the organization plays a crucial role in addressing housing challenges and improving living conditions for individuals and families in need. Through its provision of loans, grants, advisory support, and other lawful assistance, the fund enables organizations to undertake projects that contribute to the creation of safe, affordable, and sustainable housing options.
Additionally, the fund's activities during the pre-development stage of affordable housing projects, such as receiving rent from pre-existing rental income sources while revitalizing the area, demonstrate a proactive approach to addressing housing needs. By providing financial support for low-income housing activities, Ph Affordable Housing Fund Inc contributes to the overall well-being of communities and helps to ensure that individuals have access to suitable housing options. Overall, the organization's efforts have a positive impact on the lives of those facing housing challenges and contribute to the overall stability and development of communities.
This information is meant to be a general summary of Ph Affordable Housing Fund 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.
- Program Service Revenue: $342,716
- Gross Receipts: $568,716
Assets and Liabilities:
- Total Assets: $53,401,359
- Total Liabilities: $53,002,531
- Net Assets: $398,828
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$342,716
Organization Details
Founding Year
2017
Phone
(212) 243-9090Principal Officer
Adam Weinstein
Main Address
902 BROADWAY 13TH FLOOR, NEW YORK, NY, 10010
NTEE Category
Code: L21 - Housing
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