Overview
What is Affordable Housing Preservation - Ii Chapter C/O East Lake Management?
Affordable Housing Preservation - Ii Chapter C/O East Lake Management is a nonprofit organization situated in Chicago, Illinois. Their primary purpose is to provide and sustain affordable housing facilities for individuals with low to moderate income, as well as the elderly and handicapped, on a charitable basis. The organization engages in activities such as purchasing, developing, constructing, and managing these facilities, thereby contributing to their mission to enhance housing opportunities for those in need. One of their key programs focuses on offering low-income housing solutions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 30%
Affordable Housing Preservation - Ii Chapter C/O East Lake Management has received a zero-star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization scores particularly low in areas such as its lack of transparency and essential policies, which are critical for maintaining donor trust and operational integrity.
The organization does have strengths, including a fully independent board with no material diversion of assets, indicating a basic level of governance that is functioning well. However, the absence of key documents such as a conflict of interest policy, whistleblower policy, and board meeting minutes raises red flags about its operational practices.
Financially, the charity shows a concerning program expense ratio of 0.00%, suggesting it may not be effectively utilizing its resources for its intended programs. With a liabilities-to-assets ratio of 4.59%, it indicates potential financial instability as well. These limitations highlight substantial areas for improvement if the organization aims to positively impact its community and regain the confidence of its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Housing Preservation - Ii Chapter C/O East Lake Management legitimate?
Affordable Housing Preservation - Ii Chapter C/O East Lake Management is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Housing Preservation - Ii Chapter C/O East Lake Management 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
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What is the mission statement of Affordable Housing Preservation - Ii Chapter C/O East Lake Management?
Affordable Housing Preservation - II Chapter, as a charitable organization, is dedicated to supporting the purchase, development, construction, and operation of housing facilities and services. Their primary focus is on providing affordable housing options for individuals who are elderly, handicapped, or fall into the low to moderate income bracket. One of their initiatives involves sponsoring programs that offer low income housing. The organization's mission is to contribute to the community by providing essential housing facilities and services on a charitable basis.
Who is the CEO of Affordable Housing Preservation - Ii Chapter C/O East Lake Management?
Aubrey Schwartz is the Director of Affordable Housing Preservation - Ii Chapter C/O East Lake Management.
What is the revenue of Affordable Housing Preservation - Ii Chapter C/O East Lake Management?
Affordable Housing Preservation - Ii Chapter C/O East Lake Management's revenue in 2023 was -$528,757.
Who are the executives of Affordable Housing Preservation - Ii Chapter C/O East Lake Management and what are their salaries?
Here are 3 key members and their salaries:
- 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 Affordable Housing Preservation - Ii Chapter C/O East Lake Management?
Affordable Housing Preservation - Ii Chapter C/O East Lake Management's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Affordable Housing Preservation - Ii Chapter C/O East Lake Management
Affordable Housing Preservation II Chapter, in its charitable endeavors, is dedicated to supporting the acquisition, development, construction, and operation of housing facilities and services. This nonprofit organization focuses on catering to the needs of various population groups, including the elderly, individuals with disabilities, and those with low to moderate incomes. By sponsoring these facilities, the organization aims to provide affordable housing solutions, thereby contributing to the well-being and stability of these individuals. One of its notable programs is the provision of low-income housing, further cementing its commitment to social justice and equality.
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Impact
October, 2024
Affordable Housing Preservation - II Chapter C/O East Lake Management has a significant impact on the community by addressing the crucial need for affordable housing. By sponsoring housing facilities and services specifically for low-income individuals, the organization plays a vital role in improving access to safe and stable living environments for vulnerable populations, including the elderly and handicapped.
Through their focus on purchasing, developing, constructing, and operating housing facilities, they directly contribute to the preservation and expansion of affordable housing options. This helps mitigate the housing crisis faced by low and moderate-income individuals, ensuring that they have a place to live that meets their needs financially and physically.
The organization's efforts in Chicago also strengthen community ties and promote social equity. By creating inclusive living spaces and providing necessary services, it fosters an environment where underrepresented groups can thrive. The impact extends beyond housing, as stable living conditions contribute to better health outcomes and improved quality of life for residents.
Overall, the initiatives undertaken by Affordable Housing Preservation - II Chapter C/O East Lake Management represent a critical component of addressing housing insecurity and enhancing the well-being of low-income individuals and families in the Chicago area.
This information is meant to be a general summary of Affordable Housing Preservation - Ii Chapter C/O East Lake Management. 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 2023.
- Investment Income: $1,511
- Program Service Revenue: -$530,268
Assets and Liabilities:
- Total Assets: $2,731,165
- Total Liabilities: $125,496
- Net Assets: $2,605,669
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME-AHPF 51 ST STREET Y, LP K-1
Revenue
-$530,268
Organization Details
Founding Year
1993
Principal Officer
Aubrey Schwartz
Main Address
2850 S MICHIGAN AVE, CHICAGO, IL, 60616
NTEE Category
Code: L200 - Housing
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