Overview
What is Affordable Housing Preservation Foundation Iii Chapter?
The Affordable Housing Preservation Foundation III Chapter is a nonprofit organization situated in Chicago, Illinois. Its primary objective is to sponsor and support, on a charitable basis, the acquisition, development, construction, and operation of housing facilities and services for individuals in need, including the homeless, elderly, handicapped, and those with low or moderate income. The foundation's mission encompasses providing essential living spaces for these vulnerable groups, thereby contributing to their overall well-being and quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
The Affordable Housing Preservation Foundation III Chapter has received a two-star rating from Charity Navigator, indicating that the organization requires improvement in its operational practices. The overall score of 65% reflects a mix of strengths and weaknesses in accountability and finance. While the organization has a fully independent board, which is a positive aspect, it also faces significant challenges, particularly with its liabilities exceeding assets at a ratio of 105.36%.
On the positive side, the foundation demonstrates a high program expense ratio of 89.38%, suggesting that the majority of its resources are directed towards its mission. Additionally, the financial statements have been audited with no material diversions of assets reported, which indicates compliance in financial reporting. However, the absence of several key policies, including conflict of interest and whistleblower policies, as well as missing website listings and board meeting minutes, raises concerns about governance and transparency.
Overall, while the Affordable Housing Preservation Foundation III Chapter shows a commitment to its programs and has a solid structure in terms of board independence, it must address its financial liabilities and improve its accountability measures to enhance its effectiveness and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Housing Preservation Foundation Iii Chapter legitimate?
Affordable Housing Preservation Foundation Iii Chapter is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Housing Preservation Foundation Iii Chapter 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: $199,071
For more financial information, click here
What is the mission statement of Affordable Housing Preservation Foundation Iii Chapter?
The Affordable Housing Preservation Foundation III Chapter's mission is centered around sponsoring the charitable purchase, development, construction, and operation of housing facilities and services. This is done specifically for the benefit of disadvantaged groups, including the homeless, elderly, handicapped, and individuals with low and moderate income. The foundation's primary goal is to provide a suitable living environment and necessary services for these groups, aiming to contribute positively to their well-being.
Who is the CEO of Affordable Housing Preservation Foundation Iii Chapter?
Clifford Rome is the Director of Affordable Housing Preservation Foundation Iii Chapter.
What is the revenue of Affordable Housing Preservation Foundation Iii Chapter?
Affordable Housing Preservation Foundation Iii Chapter's revenue in 2023 was $1,513,292.
Who are the executives of Affordable Housing Preservation Foundation Iii Chapter 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 Foundation Iii Chapter?
Affordable Housing Preservation Foundation Iii Chapter's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Affordable Housing Preservation Foundation Iii Chapter
The Affordable Housing Preservation Foundation III Chapter is dedicated to a charitable cause, focusing on the purchase, development, construction, and operation of housing facilities and services for individuals who fall under various categories of need. This nonprofit organization aims to provide shelter and assistance to the homeless, elderly, handicapped, and those of low and moderate income. The purpose of the foundation is to enhance the living conditions of these vulnerable populations, offering them a chance at a secure and comfortable living environment. By sponsoring these initiatives, the Affordable Housing Preservation Foundation III Chapter plays a significant role in improving the lives of those in need, thereby contributing to a more inclusive and equitable society.
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Impact
July, 2024
Affordable Housing Preservation Foundation III Chapter's impact is substantial in providing housing facilities and services for the homeless, elderly, handicapped, and individuals of low and moderate income in Chicago, IL. Their work directly addresses the pressing need for affordable housing in the community, ensuring that vulnerable populations have access to safe and stable living arrangements. By sponsoring the purchase, development, construction, and operation of these housing facilities, the foundation is making a tangible difference in improving the quality of life for those in need.
This information is meant to be a general summary of Affordable Housing Preservation Foundation Iii Chapter. 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: $22,428
- Program Service Revenue: $1,485,822
- Gross Receipts: $1,513,292
Assets and Liabilities:
- Total Assets: $4,404,610
- Total Liabilities: $4,641,072
- Net Assets: -$236,462
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$1,485,822
Organization Details
Principal Officer
Clifford Rome
Main Address
2850 S MICHIGAN, CHICAGO, IL, 60616
NTEE Category
Code: L21 - Housing
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