Overview
What is Affordable Housing Of North Texas?
Affordable Housing of North Texas, located in Springtown, Texas, is a dedicated nonprofit organization with a mission to provide housing for the elderly. Operating in Parker County, they specialize in the rental of apartment units, as well as managing and constructing housing units. With a team of five dedicated individuals, they are committed to making a positive impact in their community by ensuring the availability of affordable housing options for the elderly population in North Texas.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 49%, Zero-Star out of Four Star Rating
Affordable Housing Of North Texas has received a low rating of 49%, which is indicative of significant concerns regarding its accountability and financial practices. The rating is based solely on its Accountability & Finance score, highlighting that the organization does not meet key transparency and reporting standards required by Charity Navigator.
The organization demonstrates strengths in governance, with a fully independent board and no material diversions of assets reported. However, it faces serious limitations, including the absence of financial statements and critical documentation such as tax forms and policies regarding document retention. The high liabilities to assets ratio of 93.49% raises additional concerns about the financial health of the organization.
While Affordable Housing Of North Texas has a decent program expense ratio of 61.02%, suggesting that it allocates a reasonable portion of its budget towards its programs, the overall lack of financial transparency and accountability could deter potential donors. For individuals considering support, it is crucial to weigh these factors carefully.
This AI summary has been generated from information found on Charity Navigator.
Is Affordable Housing Of North Texas legitimate?
Affordable Housing Of North Texas is a legitimate nonprofit organization registered as a 501(c)(3) entity. Affordable Housing Of North Texas 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: $105,353
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Affordable Housing Of North Texas?
Affordable Housing of North Texas is committed to providing housing solutions for the elderly population. Their mission is centered around offering housing services, overseeing the management, and constructing new housing units in two specific counties, Parker and Wise, in Texas. Their primary focus is on catering to the elderly population, ensuring they have access to suitable living accommodations.
Who is the CEO of Affordable Housing Of North Texas?
Mike Swan is the President of Affordable Housing Of North Texas.
What is the revenue of Affordable Housing Of North Texas?
Affordable Housing Of North Texas's revenue in 2022 was $701,257.
Who are the executives of Affordable Housing Of North Texas and what are their salaries?
The average compensation at Affordable Housing Of North Texas during 2022 was $21,071. There are 5 employees at Affordable Housing Of North Texas.
Here are 8 key members and their salaries:
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- Compensation: $105,353
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- Other: $0
Where can I find the form 990 for Affordable Housing Of North Texas?
Affordable Housing Of North Texas's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Affordable Housing Of North Texas
Affordable Housing Of North Texas, as its name suggests, is committed to providing housing solutions for the elderly population. More specifically, its mission extends beyond North Texas as a whole and is focused on serving the elderly residing in Parker County. This nonprofit organization engages in various activities, including the rental of apartment units, the management of existing housing, and the construction of new housing units, all with the aim of catering to the housing needs of the elderly community. By providing housing solutions, Affordable Housing Of North Texas contributes to ensuring that the elderly in Parker County can live with dignity and independence, regardless of their financial circumstances.
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Impact
July, 2024
Affordable Housing of North Texas makes a significant impact by providing housing to the elderly in Parker and Wise counties in Texas. Their focus on rental of apartment units, management, and construction of housing helps fulfill the critical need for affordable and safe housing for the elderly population in the region. This not only addresses a pressing societal issue but also improves the quality of life for seniors who may struggle to find suitable housing options.
This information is meant to be a general summary of Affordable Housing Of North Texas. 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: $1,302
- Program Service Revenue: $699,955
- Gross Receipts: $701,257
Assets and Liabilities:
- Total Assets: $2,396,338
- Total Liabilities: $2,240,548
- Net Assets: $155,790
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$620,302
PARTNERSHIP INCOME
Revenue
$67,187
MANAGEMENT FEES
Revenue
$12,466
Organization Details
Founding Year
2019
Phone
(817) 523-7555Principal Officer
Mike Swan
Main Address
101 SWAN COURT, SPRINGTOWN, TX, 76082
NTEE Category
Code: L22 - Housing
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