Overview
What is Alexandria Housing Development Corporation?
The Alexandria Housing Development Corporation, also known as Housing Alexandria, is a nonprofit organization based in Alexandria, Virginia. With a team of 15 employees, their primary mission is to develop and preserve affordable housing within the city. In January 2020, they acquired and took over the management of Parkstone Alexandria Apartments, a 326-unit apartment complex. As the sole member and developer for AHDC PC DR, LLC, the organization owns and operates this property. Their main focus on affordable housing contributes positively to the Alexandria community.
Official website here: www.housingalexandria.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
The Alexandria Housing Development Corporation received a Three-Star rating from Charity Navigator, reflecting a solid score of 81%. This rating indicates a commendable level of accountability and financial health within the organization. The charity has demonstrated strong governance practices, with 100% of its board members being independent, which enhances its credibility and oversight.
The organization excels in financial management, evidenced by an impressive program expense ratio of 92.70%, indicating that a significant majority of its funds are allocated directly to programs rather than administrative costs. Additionally, Alexandria Housing Development Corporation has well-established policies in place, such as conflict of interest and whistleblower protections, ensuring transparency and ethical conduct.
While the organization shows many strengths, the rating does not highlight any specific limitations or areas of concern, suggesting a stable operational framework. Overall, the Alexandria Housing Development Corporation appears to be a responsible nonprofit focused on its mission while maintaining high standards of accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Alexandria Housing Development Corporation legitimate?
Alexandria Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Alexandria Housing Development 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: $643,445
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,993,867
For more financial information, click here
Official website here: www.housingalexandria.org
What is the mission statement of Alexandria Housing Development Corporation?
The Alexandria Housing Development Corporation is dedicated to the development and preservation of affordable housing. This non-profit organization's primary goal is to make a difference in people's lives by ensuring they have access to housing that fits their budget. The corporation has recently expanded its portfolio by acquiring Parkstone Alexandria Apartments, a 326-unit complex in Virginia. The organization's sole membership and development arm, AHDC PC DR, LLC, oversees the ownership and operation of this apartment complex. The Alexandria Housing Development Corporation remains committed to enhancing the community by providing affordable housing solutions.
Official website here: www.housingalexandria.org
Who is the CEO of Alexandria Housing Development Corporation?
Jon Frederick is the CEO of Alexandria Housing Development Corporation The CEO's salary of Alexandria Housing Development Corporation is $244,124 and their total compensation is $277,163.
Official website here: www.housingalexandria.org
What is the revenue of Alexandria Housing Development Corporation?
Alexandria Housing Development Corporation's revenue in 2023 was $14,111,076.
Official website here: www.housingalexandria.org
Who are the executives of Alexandria Housing Development Corporation and what are their salaries?
The average compensation at Alexandria Housing Development Corporation during 2023 was $155,136. There are 17 employees and 11 volunteers at Alexandria Housing Development Corporation.
Here are 17 key members and their salaries (Alexandria Housing Development Corporation's CEO's salary is $244,124 and their total compensation is $277,163):
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- Compensation: $244,124
- Related: $0
- Other: $33,039
- Compensation: $160,961
- Related: $0
- Other: $15,370
- Compensation: $167,029
- Related: $0
- Other: $22,922
- Compensation: $104,407
- Related: $0
- Other: $24,303
- Compensation: $110,498
- Related: $0
- Other: $5,415
- Compensation: $109,812
- Related: $0
- Other: $5,069
Official website here: www.housingalexandria.org
Where can I find the form 990 for Alexandria Housing Development Corporation?
Alexandria Housing Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.housingalexandria.org
Learn more at the official website: www.housingalexandria.org
Mission Statement of Alexandria Housing Development Corporation
Alexandria Housing Development Corporation (AHDC) is a nonprofit organization dedicated to the primary exempt purpose of developing and preserving affordable housing. The corporation's mission is geared towards making a significant impact in the community by ensuring the availability of affordable housing options for residents. Through its initiatives, AHDC strives to enhance the living conditions and provide stability for individuals and families who might not otherwise have access to affordable housing.
Recently, AHDC made headlines with the acquisition of Parkstone Alexandria Apartments on January 28, 2020. This 326-unit apartment complex, now under the ownership and operation of AHDC, is a testament to the organization's commitment to its mission. As the sole member and developer for AHDC PC DR, LLC, the organization is making strides in expanding its reach and providing more affordable housing solutions. The acquisition and management of this apartment complex underscore AHDC's role as a pivotal player in the development and preservation of affordable housing in the community.
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Impact
October, 2024
Alexandria Housing Development Corporation significantly contributes to the availability of affordable housing in the city of Alexandria, Virginia. By acquiring and managing properties like the Parkstone Alexandria Apartments, a 326-unit complex, the organization directly increases the supply of affordable housing options for residents. This initiative helps to alleviate housing unaffordability challenges in the area, ensuring that a diverse population can access safe and stable living conditions.
Through its focused efforts on developing and preserving affordable housing, the organization plays a crucial role in fostering community stability and inclusivity, enhancing the overall quality of life for its residents. By committing to these activities, Alexandria Housing Development Corporation not only meets immediate housing needs but also supports long-term community development, helping to create a more equitable environment for all residents in Alexandria.
This information is meant to be a general summary of Alexandria Housing Development 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 2023.
- Investment Income: $153,691
- Program Service Revenue: $12,972,988
- Gross Receipts: $14,135,729
Assets and Liabilities:
- Total Assets: $186,839,612
- Total Liabilities: $186,821,136
- Net Assets: $18,476
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$10,617,675
TENANT CHARGES
Revenue
$1,516,700
OTHER RENTAL INCOME
Revenue
$323,741
PROGRAM INTEREST INCOME
Revenue
$283,707
PARKING
Revenue
$158,135
Organization Details
Founding Year
2004
Principal Officer
Jonathan Frederick
Website
www.housingalexandria.orgNTEE Category
Code: L20 - Housing
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